Bitcoin Slide Continues Towards $8K

Discussion in '[H]ard|OCP Front Page News' started by Kyle_Bennett, Mar 14, 2018.

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  1. Kyle_Bennett

    Kyle_Bennett El Chingón Staff Member

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    As Bitcoin's price continues to slide downward from its peak back last year, some of the crypto-analysts are not painting a very rosy picture of things to come as this one at Coindesk is predicting the likelihood of falling below $8600 and possibly a lot further. However, when you think about a $500 change in price as a "narrow range," this just further points out the volatility of the cryptomarket.


    The cryptocurrency has spent a better part of the last 48 hours moving in a sideways manner in the narrow range of $8,800-$9,400. As of writing, the BPI is seen at $9,095 - down 0.5 percent for the session.
     
  2. boushidosan

    boushidosan Gawd

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    Where are the cheap used mining cards!?!?!

    C'mon someone has to dip out sooner or later... I want a card for the Node 202 please!
     
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  3. DeathFromBelow

    DeathFromBelow [H]ardForum Junkie

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    Do not buy used mining equipment. Let them eat their costs. Free money schemes attract unsavory people and used mining hardware is less reliable (in my limited anecdotal experience).

    Last time around I got stuck with a bunch of money in Paypal limbo. The working 290s I did get have slowly failed. I still have 1 290x but the DisplayPort output is dead.
     
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  4. thebufenator

    thebufenator Gawd

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    Yeah go buy above-MSRP cards instead. Because we hate miners. Because gaming is a better use of time.

    /sarcasm
     
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  5. Azphira

    Azphira [H]ard|Gawd

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    Nah people will buy them all, just like they bend over and grab their ankles for day one dlc and loot crates for a "free to play".
     
  6. kirbyrj

    kirbyrj Why oh why didn't I take the BLUE pill?

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    I'd rather buy a mining card than a hardcore gamers card. At least with the miner it wasn't subject to constant hot/cold cycles like a gamer card would be. Plus if the miner was conscientious and was running at reasonable temps/fan speed, it's a much better option than a gamer card.

    Even at $8k it's still profitable to mine. Some will keep mining even when it isn't profitable.
     
  7. mnewxcv

    mnewxcv [H]ardness Supreme

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    The cards I am mining on are all under 70C at all times.
     
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  8. Kardonxt

    Kardonxt 2[H]4U

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    I wouldn't pay msrp or above for a mined on (or used at all card) but when everyone decides to dump (instead of the slow trickle we have now) prices could be too good to pass up.

    When X11 - X13 crashed I was able to pickup a 290 for $100. It was working great up until i replaced it for a 1080 a month ago (still works just wanted an upgrade). I may not trust ebay for mining cards but on [H] a little bit of stalking can tell you a lot about how a person treated their gear.
     
  9. SomeoneElse

    SomeoneElse [H]ard|Gawd

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    Problem you might run into is how were the mining cards used? If they were under a heavy load for a few years day in and day out the cards lifetime is going to be shorter. Can't trust a lot of people to be honest about this either. I, myself, will buy new but only after the craze has passed and the prices start to normalize. Which maybe a few years down the road but I have a 980 Ti right now so i'm good for a while.
     
  10. kirbyrj

    kirbyrj Why oh why didn't I take the BLUE pill?

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    It might be shorter, but I bet it will still outlast its usefulness. It's the same thing as an overclocked CPU. So instead of 30 years worth of service, you get 15 years because of the increased voltage and heat. People are trying to buy ones that are binned for a higher overclock. You really never know what you're going to get when you buy anything used, and I don't think it's fair to say that miners are purposely going to lie about it. If anything, they are the ones tweaking everything to fit in their heat/power requirements and independent of your opinion of them, they still are looking at running them cooler than the average gamer who is looking for maximum performance.

    I stand by my statement that miner cards are generally better than gamer cards (assuming you're ok with buying used cards period).
     
  11. noko

    noko 2[H]4U

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    Yep, Vega's have issues as in maxing out hashrates above 61c. So my 2 FE's and 1 64LC are under 61c all the time. 64LC is at -30% power limit and the FE's are -20%. The 1080Tis are at 80% and also cool. Still making a profit - no need to sell plus Bitcoin actually got down to the low $6000's in February. As regulation starts to be formulated and take hold expect a few coins, as in a majority to die out, also the more shady exchanges, then some form of stabilization may occur.

    About 37million US citizens (15% from 2006 report) do not have a bank account, 60% of those have cell phones. 2 Billion people in the world do not have bank accounts, some just don't want one, others have no banks or corrupt non-dependable banks yet also have cell phones. You have a extremely large population that if they can earn/work for/Trade in an easy secure way, something of value would. I don't see Crypto currency going away, long term it will grow and grow big. Who will be the winners and losers? Which coins will survive? My thoughts at the moment are: The ones that actually can do large scale transfers securely and at low costs to no costs. Ones that can monetize value via contracts and ownership. Privacy coins to allow population in corrupt government type country's and areas to allow some form of trade or asset exchange. Then add in good direction, good development teams, achievable worthwhile goals and even good marketing. Much weeding out but a transformation of what is considered money looks like is occurring.

    http://www.pewtrusts.org/en/researc...out-bank-accounts-think-about-mobile-payments
     
  12. whoismoes

    whoismoes n00bie

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    Ah yes, I look forward to my daily [H] article about crypto so I can read the comments of uninformed lazy gamers who can't seem to find video cards while all of us miners get pick up 10-15 a week (very close to MSRP, just take a little work).
     
  13. bugleyman

    bugleyman [H]ard|Gawd

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    Did you actually just excoriate gamers for being unable to buy video cards whilst simultaneously owning up to buying 10-15 a week for mining?

    It's almost like the two are somehow related...
     
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  14. whoismoes

    whoismoes n00bie

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    No, they are not related. I just get out of bed before lunch.
     
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  15. bugleyman

    bugleyman [H]ard|Gawd

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    Oh right, because all gamers are lazy.

    /ignore
     
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  16. whoismoes

    whoismoes n00bie

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    whow, let's not generalize to all gamers, shame shame...

    Just the ones complaining they can't get a video card are lazy. Let me help you guys...

    Guide to Buying a Video Card in 2018

    1 - Go to Newegg.com and setup email alerts.
    2 - Setup your phone to notify you when you get an email from newegg.
    3 - If you miss a sale, setup the auto notify again, it expires!
    4 - sign up for a CamelCamelCamel account
    5 - Setup price notifications.
    6 - Same as step 2 except for 3xCamel

    BONUS TIP!!!!!!!!

    7 - If you have a microcenter for Frys near by, go to the store (I now it might be hard to leave your bed).
    8 - Ask the sales person by the empty shelfs of video cards, what day they get their cards in.
    9 - Show up on that day before the open.

    SUPER BONUS TIP

    10 - Don't buy GPUs off of craigslist new, it just give those trolls incentive to do steps 1-9 and sell you to for more money....

    MEGA MEGA BONUS TIP

    11 - Wait until early summer / late spring, a lot of miners will have a heat issue and dump their GPUs!!!!
     
    Last edited: Mar 14, 2018
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  17. Twisted Kidney

    Twisted Kidney 2[H]4U

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    I just want an itx length 1070ti.
     
  18. whoismoes

    whoismoes n00bie

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    GIGABYTE AORUS GeForce GTX 1080 for sale right now on newegg for $699, get out of bed guys!

    MSI GeForce GTX 1080 DirectX 12 GTX 1080 DUKE 8G - $679
     
  19. bugleyman

    bugleyman [H]ard|Gawd

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    Sorry, you're too lazy. ;)
     
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  20. noko

    noko 2[H]4U

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    Not even that, just shop a little

    https://www.newegg.com/Product/Product.aspx?Item=N82E16814127943
    1080 $679, available now - wait a miner or miners are probably snatching these up before the gamers. Anyways your paying about $130 over an FE but you are getting a custom better cooled card that is available now.
     
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  21. BSmith

    BSmith [H]ard|Gawd

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    And here is a shining example of why most people detest miners. The utter arrogance to eviscerate an entire group of people who are pissed off because of the difficulty in obtaining hardware at a reasonable price is absolutely deplorable. Too many ambassdors like you around.

    Oh, and this lazy gamer has done most everything you suggest, but still did not get a new video card, for a reasonable price. Yes, I gave up and just quit gaming. My choice, not putting that on anyone. It was driven by GPU and RAM prices being stupid.

    See, I could have taken the cheap shot, like you, but didn't. So continue being the good ambassdor for the cryptocrazies. Oh wait,..well dang, I did take that cheap shot after all. My bad.
     
  22. noko

    noko 2[H]4U

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    You forgot to say the miners will be selling those used up mining cards and replacing them with Nvidia new line of gaming cards that the gamers will still be complaining about not cheap enough and can't find any. :D
     
  23. whoismoes

    whoismoes n00bie

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    Being a quitter is the exact reason you can't get a GPU!

    There is no point in being a good ambassador, you guys really hate us...
     
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  24. noko

    noko 2[H]4U

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    Are you not doing the same thing? Man I must be even worst then a miner - I am a gamer too. Oh how low can one go? Just kidding really. I also get amazed at how long this complaining about miners taking up the video cards which yes they are but gamers have money as well, no difference in availability either to a gamer then to a miner. I've have yet seen 5-10 or more gamers get together and buy a bulk volume of video cards that can sell for cheaper then a single card. A reasonable price? What dictates the price is the market, not one hopes or think they should be at, GPU uses are exploding in all areas.
     
  25. bugleyman

    bugleyman [H]ard|Gawd

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    The crypto bubble can't pop soon enough as far as I'm concerned. At the end of the day there will be one (maybe two) currencies which endure, and an incredible amount of wasted energy.
     
  26. noko

    noko 2[H]4U

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    The bubble has just begun, maybe awhile before that happens. I would not be holding my breath.
     
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  27. BSmith

    BSmith [H]ard|Gawd

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    EDIT: Well, I stooped to a lower level than I should have and apologize for that.

    Please. The only thing driving the GPU prices to stupid levels are the cryptocrazies.
     
    Last edited: Mar 14, 2018
  28. bugleyman

    bugleyman [H]ard|Gawd

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    Oh, I'm not. I don't pretend to know when it will happen...only that it will.
     
  29. noko

    noko 2[H]4U

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    Many factors, miners and gamers wanting cards and willing to pay the price allows those cards to go that high. So are you saying zero gamers are buying these high priced cards? All miners? How about the real truth - more gamers are buying cards, has been in all the past years and even today. Maybe it should be the miners complaining about the gamers buying up the cards and most of the time the cards are doing nothing as in turned off after 1 hour of game play and nap time comes up. AMD even gave a number - 1/3 miners ->2/3's??? Who?
     
  30. whoismoes

    whoismoes n00bie

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    Why would you want it to pop?
     
  31. BSmith

    BSmith [H]ard|Gawd

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    Seriously, I would like some of what you are smoking! That is some good shit.
     
  32. kirbyrj

    kirbyrj Why oh why didn't I take the BLUE pill?

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    As someone who has served several 3 day bans for less... Just pointing this out...

    (1) Absolutely NO FLAMING, NAME CALLING OR PERSONAL ATTACKS, NO TROLLING.
     
    Last edited: Mar 14, 2018
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  33. noko

    noko 2[H]4U

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    Collapse of the dodgy, fraudulent, non working, market not accepting, regulated out coins -> I do agree but in the end the Crypto market will make today's Crypto market look like a drop in the bucket (just my thoughts on the matter, no crystal ball and maybe totally wrong).
     
  34. afropuff

    afropuff Limp Gawd

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    I mine(and I game...gaming comes first). Mining profits have dropped significantly in the last month. I only have 1x1080 at this point, because I sold my 1070 2 weeks ago. I'm making PROFIT of about $1.50/day(compare that to $5/day 2 months ago). That would mean a ROI would take 13 MONTHS. I have absolutely no idea who is still buying these gpu's at the current prices at these profits....and the thing is, 13 months assumes profits stay where they are, which they won't due to the new generation of gpu's coming out and always increasing difficulty of mining.

    It really makes no sense to me how prices are remaining where they are and I'm personally looking forward to gpu prices crashing and getting another 1080 for a cheap SLI setup.

    -fro
     
  35. whoismoes

    whoismoes n00bie

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    A lot of hate in this thread...

     
  36. BSmith

    BSmith [H]ard|Gawd

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    Well dang. You are right. I tried to make it sound more like an observation, but I guess that is rationalizing the point. II'll edit the original, but I cannot edit the quotes. If a suspension is in order, I will honor that.
     
  37. noko

    noko 2[H]4U

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  38. phillyboy

    phillyboy [H]ard|Gawd

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    And because of miners like you we have a video card for sale that we can buy pre-price gouged direct from Newegg. $679... what a deal!

    Why don't you try and find a "fool-proof" method that gets a new card closer to MSRP since all of us engineers and technical professionals on this forum are "too stupid" and "too lazy" to figure it out. We'll wait.

    Such a circle-jerk waste of electricity for a speculative market that still hasn't provided any value beyond buying illegal shit on Silk Road 4.0
     
  39. bugleyman

    bugleyman [H]ard|Gawd

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    Obviously I also lack a crystal ball...I just don't see any reasonable argument for why the world can use 23,302 cryptocurrencies. One or two that serve specific niches? Sure. But when literally doing nothing except add "blockchain" to a company name results in massive stock market gains, something is very, very wrong. Things will not end well.
     
  40. whoismoes

    whoismoes n00bie

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    I don't hate gamers. What I hate is coming to a site that I have visited almost daily for 20 years and being hated because I believe in a future with crypto.
     
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