Now That's a Crypto Crash

rgMekanic

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Cryptocurrency bitconnect took a nosedive with prices falling 97% today. The fall came after BitConnect said it’s closing its lending and exchange platform after receiving cease and desist letters from Texas and North Carolina. The coin had a nearly $3 billion market cap, and traded as high as $322 on Tuesday, dropping to $6.09, according to CoinMarketCap.com data.

Bad week for miners out there with nearly all major cryptocurrencies down between 20-40% in the last week. Hopefully that means good news for gamers who need a new video card, but the chances of that happening soon are slim.

BitConnect also said “continuous bad press has made community members uneasy and created a lack of confidence.” In addition, several denial of service attacks on BitConnect ‘s platform “have created more panic inside the community,” the company said.
 
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Also, anyone selling their 1070's & 1070 ti's like above member, Sell them at $1000+. Stick it to em! Gamer's unite!
 
Don't buy em. Those cards have been rode hard and put up wet. I wouldn't take the risk. If you're going to buy used, buy from EVGA's B Stock. Atleast they have a 1 year warranty.

everyone says they are junk afterwards, but no-one actually provides any sort of proof?

NVDIA sells chips for AI and datacenter, with the intention of getting hammered all day, they are perfectly reliable and the same silicon.
 
everyone says they are junk afterwards, but no-one actually provides any sort of proof?

NVDIA sells chips for AI and datacenter, with the intention of getting hammered all day, they are perfectly reliable and the same silicon.

Yes, but Nvidia is a reputable company & if anything goes wrong with those chips, there is a warranty. Wheres your warranty from joe blow on Ebay? Best you'll get is a 14 day money back from Ebay if Joe blow even puts the option on the sale which is doubtful.
 
Yes, but Nvidia is a reputable company & if anything goes wrong with those chips, there is a warranty. Wheres your warranty from joe blow on Ebay? Best you'll get is a 14 day money back from Ebay if Joe blow even puts the option on the sale which is doubtful.


I've ran torture tests on intel/amd chips for up to years at a time... they weren't considered crap afterwards by me or anyone else. Now I get running the fans at 100% for a year will definitely wear them out, but the silicon doesn't care. Just looking for any sort of proof that mining ruins a GPU.
 
Finally, can't wait until they start dumping GPUs on ebay.
Who's "they" and why would anyone start dumping GPUs on eBay?

The dips and volatility are the best part of crypto. It's where the real profits and stack increases are made. Yet every week or two when Bitcoin goes on sale and there's the usual "END OF CRYPTO?" clickbait headline circlejerk, a few people always think it means some mythical "flood of cheap GPUs" is upon us. Not gonna happen.
 
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I've ran torture tests on intel/amd chips for up to years at a time... they weren't considered crap afterwards by me or anyone else. Now I get running the fans at 100% for a year will definitely wear them out, but the silicon doesn't care. Just looking for any sort of proof that mining ruins a GPU.

Shh, the more you perpetuate the myth the less they will go for.
 
Don't buy em. Those cards have been rode hard and put up wet. I wouldn't take the risk. If you're going to buy used, buy from EVGA's B Stock. Atleast they have a 1 year warranty.

I run all my cards at 55-65 % power and low fan speeds and temps. Mine are probably in better shape than most gamer cards.
 
I'm down 23% for the week, down 24% for the month, but up 360% for the quarter. Iron clad hands.
 
This mining shit isn't going away unfortunately. Now is a good time to hop in. At least that's what a lot of folks will think.
 
Yeah, that's what happens when the government quits strangling business and allows people to keep the money they earn.

UPS just gave all of the warehouse employees, thousands of people, a $4.50 an hour raise. That's massive and I expect to see the same raise myself in around six months. But lel muh trickle down economics, aka a rising tide lifts all boats, is fake news or something according to all the commies.

I'm sure being against thousands of little people going from $10.50 an hour to $15 an hour is a really good political strategy. So long as you run a black women or something.
 
Bitconnect was a Ponzi scheme. Invest x dollars and you'll get back y at some point in the future. There was no investing just taking the money from new suckers to pay out the the old.
 
Not worried. This is a patterned that has happened for the past 5 years. Hits the ground around the first of the year and then slowly recovers over the year which finally ends at a higher level than the year before. Just look on coinmarketcap.com and compare 2015-2018. You will see the same drops around the same time each year.

This is called a Buy and HODL time. As of this time now everything is already coming back up pretty good.
 
Don't buy em. Those cards have been rode hard and put up wet. I wouldn't take the risk. If you're going to buy used, buy from EVGA's B Stock. Atleast they have a 1 year warranty.

Been mining for years, I still have a 270X that's been chugging along under 24/7 load for 5 years straight. I only keep it around now because it's fun to see it chugging along after all these years.

The only two components I've had actually fail: Power supplies, and the occasional fan on a GPU (easily replaced) Let's be real here, if I suddenly decided to sell my 1080Ti's (that have paid for themselves many times over at this point) for $500 each, you might not buy them, but there's thousands of people that would jump and offer me far far more. When I liquidated my 1st gen mini farm (mostly 7970s) I sold out in minutes because at that point I don't even care about making the market price.

There's nothing wrong with being risk averse - but just like missing out on lots of almost free money from mining, you will miss out on dirt cheap GPUs should the bottom ever fall out. And just like usual the news of this supposed "crash" is already outdated, it's been rebounding all day long, everything that's been bleeding out the past week is already back up 40% in the green. my XVG is still up 2200% from it's position 2 months ago... hah crash my ass.

Guess I'll have to hold onto my 23 GPU farm a little longer. :) Oh Darn.
 
UPS just gave all of the warehouse employees, thousands of people, a $4.50 an hour raise. That's massive and I expect to see the same raise myself in around six months. But lel muh trickle down economics, aka a rising tide lifts all boats, is fake news or something according to all the commies.

I'm sure being against thousands of little people going from $10.50 an hour to $15 an hour is a really good political strategy. So long as you run a black women or something.

Short sighted much. They also cut all government money to help buy health insurance, and removed the invidivual mandate. Meaning everyone is going to see their insurance prices go up, some by at least 10 fold. THEN the tax break that the individuals received starts to disappear while the tax break for the wealthy and the businesses.. is locked in place. Yea... thanks for the raise but my expenses doubled. Gee I'm soo much better off now.
 
There is actually proof out there if you want to dig through countless forums of people buying GPUs from mining.

I've actually seen them. If you mistreat your GPU while it's mining, you can actually lead to artifacting and instability. It's tangible dude.

When I was mining though, I took extra precautions to not push them beyond their stable limits. Unstable mining GPUs lead to downtime, which is costly. But there are a lot of fucking morons out there that push for those last 5-10mhz, just to max their hash rate, but it "burns" the GPU.

Maybe you need to actually look this shit up before you yap. There's tonnes there...

everyone says they are junk afterwards, but no-one actually provides any sort of proof?

NVDIA sells chips for AI and datacenter, with the intention of getting hammered all day, they are perfectly reliable and the same silicon.
 
Short sighted much. They also cut all government money to help buy health insurance, and removed the invidivual mandate. Meaning everyone is going to see their insurance prices go up, some by at least 10 fold. THEN the tax break that the individuals received starts to disappear while the tax break for the wealthy and the businesses.. is locked in place. Yea... thanks for the raise but my expenses doubled. Gee I'm soo much better off now.

We have insurance we don't use welfare for obumercare so has nothing to do with us. I don't see any expense increase.

I mean talk all you want, say any weird nonsense you want, but everyone around me just got a huge raise, everyone I know is killing it, no more massive tax increase for not buying shitty worthless obumercare, so nobody is buying it, the economy is the best it has literally ever been, but you say nonsense words.

It's insane.

But don't worry my dude. Just run a fat black woman for president and tell everyone they are super SEXIST and RACIST if they don't vote for a shitty communist economy of the great recession obummer brought us and learn nothing.

SMFH I don't even know why I bother. I'll make sure to spend some of my more money I've earned and get to keep to buy another gun or two. Thank God I'm American.
 
Yeah, that's what happens when the government quits strangling business and allows people to keep the money they earn.

Good lord enough with the soapbox already. Most of that appreciation happened until the EVILLLLLL Obama.
 
We have insurance we don't use welfare for obumercare so has nothing to do with us. I don't see any expense increase.

I mean talk all you want, say any weird nonsense you want, but everyone around me just got a huge raise, everyone I know is killing it, no more massive tax increase for not buying shitty worthless obumercare, so nobody is buying it, the economy is the best it has literally ever been, but you say nonsense words.

It's insane.

But don't worry my dude. Just run a fat black woman for president and tell everyone they are super SEXIST and RACIST if they don't vote for a shitty communist economy of the great recession obummer brought us and learn nothing.

SMFH I don't even know why I bother. I'll make sure to spend some of my more money I've earned and get to keep to buy another gun or two. Thank God I'm American.

You lost ALL credibility at "obummer." The only true part of your post is your exclamation that you won't listen to literally anything that doesn't fit your delusional narrative.
 
We have insurance we don't use welfare for obumercare so has nothing to do with us. I don't see any expense increase.

I mean talk all you want, say any weird nonsense you want, but everyone around me just got a huge raise, everyone I know is killing it, no more massive tax increase for not buying shitty worthless obumercare, so nobody is buying it, the economy is the best it has literally ever been, but you say nonsense words.

It's insane.

But don't worry my dude. Just run a fat black woman for president and tell everyone they are super SEXIST and RACIST if they don't vote for a shitty communist economy of the great recession obummer brought us and learn nothing.

SMFH I don't even know why I bother. I'll make sure to spend some of my more money I've earned and get to keep to buy another gun or two. Thank God I'm American.


Wow... just... wow. Short term gain long term loss.. as long as it feels good now it can't be bad right?
 
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