Bitcoin Plummets Below $7,500

just checked ebay 1070s are already dropping in price like rocks 300 or less for one yeah bubble's popped people getting out
 
fall baby fall. all those miners with GPUs that will never be paid for now. bwaahahahahahahahahahah........hahahahahaha.
 
Elios said:
just checked ebay 1070s are already dropping in price like rocks 300 or less for one yeah bubble's popped people getting out
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People who aren't in it for the long haul might be panicking and selling GPUs, but they're not smart IMO. Besides, people who got into mining are taking the calculated "gamble" that they could potentially make good money from it. Shouldn't be in it if it wasn't money you could afford to lose anyways.
 
CL market near me has a lot more inventory, but prices haven't started adjusting downward below retail yet. Hope springs eternal!
 
jlobue10 said:
People who aren't in it for the long haul might be panicking and selling GPUs, but they're not smart IMO. Besides, people who got into mining are taking the calculated "gamble" that they could potentially make good money from it. Shouldn't be in it if it wasn't money you could afford to lose anyways.
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Want to hear a story, DASH once at less than a dollar, now even in this horrible market hundreds. It's about perspective. If you only make a choice on what is happening today, good luck.
 
motomonkey said:
Burger king has these big bins of Ketchup packets next to the register......
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But for how long? How soon until inflation hits there too? How soon until you cant find ketchup anywhere, or when you do, its $600?
 
Elios said:
dude ETH LOST 20% OF ITS VALUE IN SIX HOURS FUCK THAT id be done sell your shit will its still worth something once its under 100 bucks 1070s going to be going 10 bucks on ebay
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I was hoping Nvidia would release new cards before that happened. Snap a 2*** for an MSRP price (probably wouldn't happen) and sell my 1070 for an inflated price. My only worry is I won't get crap for my 1070 when I do list it even though I never used it for mining.
 
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triwolf said:
Want to hear a story, DASH once at less than a dollar, now even in this horrible market hundreds. It's about perspective. If you only make a choice on what is happening today, good luck.
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Indeed, I made the decision to get into mining zcash with a full time mining rig, and I'm not regretting the recent downturn. Of course, I'm hoping it shoots back up, but just like everyone else, I don't really know. It's funny to me how many people on this forum are hating on cryptos in general, just because GPUs and power supplies are hard to find right now. This too shall pass, and supply will catch up to demand at some point.
 
this is for all of the 'i wont buy used mining hardware etcblahblah' people

funny story i have 6 1070s for mining and one for gaming in a secondary PC, all EVGA of one form or another. The 5 were happily mining away and I thought i was having PSU issues with my HX1000 due to random kernel errors VID_TDR_TIMEOUT or whatever on my secondary gaming pc... yeah uh no, the NON MINING CARD actually warped itself ( dont know if the screws werent tight from the factory or WTF happened ) and failed! Go figure!

-True story, RMA in now.

So all mining hardware might not be a pos, you might just get a pos no matter the purchase route..
 
jlobue10 said:
Indeed, I made the decision to get into mining zcash with a full time mining rig, and I'm not regretting the recent downturn. Of course, I'm hoping it shoots back up, but just like everyone else, I don't really know. It's funny to me how many people on this forum are hating on cryptos in general, just because GPUs and power supplies are hard to find right now. This too shall pass, and supply will catch up to demand at some point.
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I've advised over and over to do what you do, do some internet searches and find out what coins are good, follow their prices and development and profit. There is too much FUD and it may be a lot to do with the stock market the falling prices of crypto. It's rose like a phoenix before, and probably will again when good news is over powering.There will be a place for crypto just like the internet.
 
TordanGow said:
...looks like a scam to me though.
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9b3.png
 
Yep theyre all taking a beating. Zcash is my poison as well.
Ride the wave.
jlobue10 said:
Indeed, I made the decision to get into mining zcash with a full time mining rig, and I'm not regretting the recent downturn. Of course, I'm hoping it shoots back up, but just like everyone else, I don't really know. It's funny to me how many people on this forum are hating on cryptos in general, just because GPUs and power supplies are hard to find right now. This too shall pass, and supply will catch up to demand at some point.
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Saw this coming a mile away before Christmas. Really hope folks took profit when it was $15k+.

If they didn't - Let it be a lesson learned. There is no free lunch.
 
Drewis said:
this is for all of the 'i wont buy used mining hardware etcblahblah' people...

...so all mining hardware might not be a pos, you might just get a pos no matter the purchase route..
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Obviously. I don't think anyone would really debate that. However, buying used mining hardware seems like an unwarranted risk. YMMV.
 
sleepeeg3 said:
It's TETHER, which is causing the crash.
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I have heard that, there has also been a huge crash in Bitconnect (clearly a ponzi scheme to anyone with a brain), good time to buy or hold, no telling where the bottom is, it's been way down before, heck look at other types of markets. Things can swing wildly, you could buy a first appearance of Deadpool comic for a hundred or so a few years ago, it's $1200 now.
 
DeathFromBelow said:
You do have to wonder about the people who supposedly took out mortgages to buy back in December... Ouch.

$6561 now.
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They're fucked honestly. They could try to hold and hope for the best, but from everything I've read this will likely never see over $10k again.
 
Elios said:
dude ETH LOST 20% OF ITS VALUE IN SIX HOURS FUCK THAT id be done sell your shit will its still worth something once its under 100 bucks 1070s going to be going 10 bucks on ebay
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Strange how some people think crypto price fluctuations mean GPUs will suddenly get cheaper, as if all the non crypto related causes of the shortage suddenly change. Hint, it wasn't the gamerkid that bought a few extra Nvidia cards on his CC that was the crux of it.

It's uncorrelated stupidity on the level of going into a car dealership and screaming "the stock market is down I want a discount on this car".
 
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DeathFromBelow said:
You do have to wonder about the people who supposedly took out mortgages to buy back in December... Ouch.

$6561 now.
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I was thinking about that today. I understand that you need to be responsible for your own actions and accountable and all that...but I think sometimes people get caught up in the moment and make poor decisions. Hopefully there are toooo many of those people out there...
 
Mchart said:
They're fucked honestly. They could try to hold and hope for the best, but from everything I've read this will likely never see over $10k again.
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They are in jeopardy, no doubt. Why someone gambles with their abode I can not understand. Lady luck anyone? She can hurt. Something about paper or digital money and hard assets also comes to mind. Hard to sleep in a digital coin.
 
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