Who is buying a 3090?

kamxam

[H]ard|Gawd
Joined
Mar 2, 2005
Messages
1,731
Paid about $350 over MSRP for a 3090 Kingpin on Ebay a few months ago. Was in the EVGA queue but after months of waiting, i just decided to bite the bullet and pick one up and hope not to overpay too much. Considering the lower priced 3090's are getting up near $2000 or over now, i'm pretty happy to have gotten one when i did.
 

kamxam

[H]ard|Gawd
Joined
Mar 2, 2005
Messages
1,731
Looked at Ebay and NONE of the Kingpin 3090's were under $3000. (Most were in the lower 3K range)
It's insane that even a lot of the regular 3090 cards are over $2k now. I feel bad for paying hundreds over on mine, but it's better than the crazy prices that are around now. Same thing is happening with the 3080's, 3070's and the like.
The only other way to get one without putting a mortgage on your house is to wait and hopefully pick up a card from a retailer but that's a matter of luck nowadays. :)
 

exlink

Supreme [H]ardness
Joined
Dec 16, 2006
Messages
5,946
You do you but buying from scalpers only exacerbates the problem in the future.

There has been a queue system for months for the Kingpin 3090; if you wanted one you should’ve signed up for one when they released and you would’ve had one for MSRP by now. People who signed up even several days after the launch date are already receiving their cards and are not paying a cent above MSRP (pre-tariff at that).
 

GoldenTiger

Fully [H]
Joined
Dec 2, 2004
Messages
20,614
You do you but buying from scalpers only exacerbates the problem in the future.

There has been a queue system for months for the Kingpin 3090; if you wanted one you should’ve signed up for one when they released and you would’ve had one for MSRP by now. People who signed up even several days after the launch date are already receiving their cards and are not paying a cent above MSRP (pre-tariff at that).
Hypothetical platitudes are nice and all, but they don't put a card in your rig!
 

lobstar

Limp Gawd
Joined
Nov 24, 2004
Messages
204
Got a time machine for others to get cards with?

My 3080 FTW3 hybrid came from getting in at the start of an evga queue at sub msrp (5 percent off) but that was lucky.

If you are really interested in snagging cards at retail it's not hard but it's time and effort. Join some discords, setup up notifications, learn when stores do drops. Lots of people on this board have bought multiple cards at retail pricing including myself.
 

exlink

Supreme [H]ardness
Joined
Dec 16, 2006
Messages
5,946
Got a time machine for others to get cards with?

My 3080 FTW3 hybrid came from getting in at the start of an evga queue at sub msrp (5 percent off) but that was lucky.
Why would I need a time machine? People knew about the queue since well before the Kingpin launched. If they signed up within the first few days they would've had a card for months now at MSRP.
 

GoldenTiger

Fully [H]
Joined
Dec 2, 2004
Messages
20,614
Why would I need a time machine? People knew about the queue since well before the Kingpin launched. If they signed up within the first few days they would've had a card for months now at MSRP.
Yes, you say it's easy to snag cards, but without time travel you aren't queuing a Kingpin right now.
 

oldmanbal

2[H]4U
Joined
Aug 27, 2010
Messages
2,529
If you are really interested in snagging cards at retail it's not hard but it's time and effort. Join some discords, setup up notifications, learn when stores do drops. Lots of people on this board have bought multiple cards at retail pricing including myself.
I actually did this for 2-3 hours a day for over 4 months with ZERO luck. It was literally a job. Nothing worked, not discords, stock drops, having 20 bookmarks in chrome i checked every other hour, or even prayers and voodoo.

I happened to luck into some local guy on CL that was selling a 3090 at msrp cause he was getting out of mining and selling off the equipment he hadn't opened up yet.

It's a complete crapshoot - and a miserable experience. Saying otherwise is grossly misleading.
 

III_Slyflyer_III

Limp Gawd
Joined
Sep 17, 2019
Messages
369
I actually did this for 2-3 hours a day for over 4 months with ZERO luck. It was literally a job. Nothing worked, not discords, stock drops, having 20 bookmarks in chrome i checked every other hour, or even prayers and voodoo.

I happened to luck into some local guy on CL that was selling a 3090 at msrp cause he was getting out of mining and selling off the equipment he hadn't opened up yet.

It's a complete crapshoot - and a miserable experience. Saying otherwise is grossly misleading.
Yeah, I had lucked out because I have a MicroCenter within 20 minutes drive for me, but it was PURE luck after 4 months of trying.

I snagged mine on New Years Eve Day... with the store being closed that morning for "Covid Cleaning" (so people in line that morning got told to pound salt); and i went over RIGHT as I got an email that they opened back up... AND there was about 25 3090 FTW3's in stock on the shelf. A perfect storm for buying a video card. I have yet to see anything on the shelf ever since...
 

kirbyrj

Fully [H]
Joined
Feb 1, 2005
Messages
27,942
I got mine from trading a guy here for another card that I lucked into. I haven't been able to sniff a 3090 near MSRP on my own.
 

oldmanbal

2[H]4U
Joined
Aug 27, 2010
Messages
2,529
I was the same way lol.
I got the 3090 cause it was literally the only thing i could find, despite thinking it was a complete ripoff of a videocard. Afterall, I was going to be you know, playing games on it, not trying to cure cancer or start a pixar rival. I would have been happy with any of the x8 series from nvidia or amd.

Now it feels like I got a steal when I look back at the hours of my life I wasted trying to find a card. I looked at the Nvidia subreddit last week, and there are thousands of people still pulling out their hair cause they can't get one, or cause their day 1 order hasn't moved up the que in over a month, with no anticipated fill date in sight.

Considering the mining benefits of the 3090, it would make over 5g a year -PROFIT-, after electricity, if I just put it in a closet and mined on it 24/7. But alas covid and videogames have other plans for it.
 

III_Slyflyer_III

Limp Gawd
Joined
Sep 17, 2019
Messages
369
I got the 3090 cause it was literally the only thing i could find, despite thinking it was a complete ripoff of a videocard. Afterall, I was going to be you know, playing games on it, not trying to cure cancer or start a pixar rival. I would have been happy with any of the x8 series from nvidia or amd.

Now it feels like I got a steal when I look back at the hours of my life I wasted trying to find a card. I looked at the Nvidia subreddit last week, and there are thousands of people still pulling out their hair cause they can't get one, or cause their day 1 order hasn't moved up the que in over a month, with no anticipated fill date in sight.

Considering the mining benefits of the 3090, it would make over 5g a year -PROFIT-, after electricity, if I just put it in a closet and mined on it 24/7. But alas covid and videogames have other plans for it.
Is that profit also after the exchange fee's to convert to real money and after legally paying your taxes for both mining it AND converting it to profit? (legit asking; not being a smartass... lol). I had looked into all that and the tax aspect was a mess (on top of the exchange fee's); plus it counted as capital gains tax.
 

kirbyrj

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Joined
Feb 1, 2005
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Is that profit also after the exchange fee's to convert to real money and after legally paying your taxes for both mining it AND converting it to profit? (legit asking; not being a smartass... lol). I had looked into all that and the tax aspect was a mess (on top of the exchange fee's); plus it counted as capital gains tax.

Profit is relative and no one knows the 12 month outlook on crypto mining with cards. However, if you're going to mine crypto and do your due diligence with taxing, etc. Here's what I'd recommend:*

1). Determine whether or not you want to be a "hobby" miner or a "self employment" miner. Hobby mining is simpler, but you can't deduct your expenses.

2). Sign up for a crypto tax website like taxbit.com or something similar that works with your exchange.

3). Taxable transactions are when you transfer from your mine to your exchange (considered income) and when you convert your coin to other coins or USD.** Buying coin with USD through your exchange is not a taxable transaction. Essentially what you're doing by doing this is assigning your coins a cost basis. When you sell, it's going to look at the cost basis of your coins on the day you acquired them (the date of purchase or the date you transferred from your mine). If you don't have a cost basis, capital gains will be paid as if the cost basis is zero and then you're paying on the whole amount. Taxbit in particular will allow you to do a specific ID of coins you are selling vs. a simple FIFO method. This could help you with capital gains, depending on how much you have and how old the coins are.

4). If you are "self-employed" you have to look at paying social security taxes on your income (what you get from the mine), but you can write off your expenses. Expenses can be numerous, such as video cards, computer components to run them, internet, electricity, space in your home, etc. If you're going to go that route, expect to be able to document everything (receipts, etc.) in case of audit. By "hobby" mining, you save on the social security taxes, but you're not going to have any expenses to write off against your income. If you're willing to do the documentation, you can probably do better with self-employment, but it is definitely easier to just do hobby, especially if you only have 1 card.

5). Short term capital gains are coins you have held less than a year and are taxed at a higher rate. Long term, more than a year. Taxbit does all the work. It will document all your sales and prepare the correct forms to import into Turbotax (or a print out for your tax professional). It was actually pretty easy (then again, I don't sell coins. At best I might convert them from one to another).

6). Plan ahead for tax time. If you have a couple cards, and are only hobby mining, you could have a few extra thousand dollars added to your income. You might owe money or you might not get as big of a refund as you're used to.


* I am not a tax professional. I did not sleep at a Holiday Inn Express last night. This is based on my research, but don't make serious financial decisions based on what I'm telling you without doing your own research.

** Technically, it's whenever you receive them. In the case of something like Nicehash, they pay out 6 times a day. I feel like it is too burdensome to document 365x6 = 2190 small transactions. Instead, I do a regular withdrawal every two weeks and consider that the date I received coins, so 26 transactions per year.
 
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lobstar

Limp Gawd
Joined
Nov 24, 2004
Messages
204
I actually did this for 2-3 hours a day for over 4 months with ZERO luck. It was literally a job. Nothing worked, not discords, stock drops, having 20 bookmarks in chrome i checked every other hour, or even prayers and voodoo.
This statement tells me you don't understand or didn't learn which websites drop at what times and how to plan your purchases. No one who's getting cards is checking links every hour. You'll never get a card from API notifications on Discord which are the same API checks the bots make use of. You make a calendar with BestBuy drop times, NewEgg night drops after people don't buy the Shuffle cards, AMD shop drops which happen on specific dates and times like clockwork, and all the other little tricks you can find written up all over the place. You won't get a card every single time. You'll definitely have times when the product goes in the cart and you can't finish the transaction. But here I am with a 5950x and a 3090.
 

oldmanbal

2[H]4U
Joined
Aug 27, 2010
Messages
2,529
Is that profit also after the exchange fee's to convert to real money and after legally paying your taxes for both mining it AND converting it to profit? (legit asking; not being a smartass... lol). I had looked into all that and the tax aspect was a mess (on top of the exchange fee's); plus it counted as capital gains tax.
Well regarding the taxes - so far I've kept it all out of public wallets and exchanges, so it isn't technically above board. Ideally I would somehow liquidate it down the line along the same terms.

If I wanted to transfer the entirety into say coinbase, linked to my bank account, then I would have to report it as income and give something like 1/3 of it away. I spoke with a few different tax professionals regarding it, and based on my last few returns, I wouldn't see a penny of it back compared to an average year.

The best advice I could give on declaring it, would be to liquidate any amount that would be forfeit to taxes out of the cryptocurrency itself. That way if the value plummets, you haven't lost say 4 grand out of your savings account, plus 8 grand in bitcoin, instead you've just lost some of the bitcoin.

If you're looking to roll the dice, do it the other way around, and ride it till the wheels fall off.

I tend to keep all my bitcoin untouched, for many years now, and hope to do so till my son goes to college or I decide to take another break from work. I strongly believe in working for a few years, then taking some time off to enjoy life, the whole reason we work in the first place.
 
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