"Bots, scalpers, miners" buy a quarter of all video cards

[Iota]

Well the assumption is that people are upgrading their graphics cards at a similar rate that they did in comparable times before. Attach rates many times higher all of a sudden are what seems to correlate to mining/scalping.

Seems to be a bit of a stretch by any means, it certainly doesn't take into account the poor showing of the 2xxx series. Not sure we've seen scalping on this level before on graphics cards either, whether that's just a one off from bored people stuck at home trying to make extra money, guess time will tell on that front.

[DJNW]

In other words the Mining value is in GFX cards... and the prices of them keeps the Crypto Coins high, the bubble will burst sooner or later as GFX quickly become yesterdays good news.

It is not for the gamer anymore.

I would not be surprised if in the not-too distant future CUDA and its analogs are either disabled or drastically (like 10-20% of full speed) performance-restricted unless being spoken to by an NVIDIA/AMD/Intel signed binary.

I'm not saying it would be right, fair or good, but it would stop 'professional' use of gaming cards in its tracks.

[PMMEASURES]

It's just a pyramid scheme sitting upon the infrastructure of the electricity industry. the rest is akin to playing the stock market.

[DanceswithUnix]

the rest is akin to playing the stock market.

More like gambling really. Think of crypto like a lottery ticket. Next week it could be worth a fortune, or it could be zero.

[kalniel]

Yeah I was about to say the same - maybe if you are in the stock market purely to 'play' then it might be similar, but otherwise investing in stocks is very different to mining or scalping.

[[GSV]Trig]

I have 2 stock setups, ones proper long term stuff that gets a monthly injection, my other is just a 'play' account using T212 where I've got ~£1200 that I play with, then from a crypto side I have my Huobi and NiceHash accounts, theres a few bits that I have on NH that I play with and then about ~900 in Huobi thats a bit more long term.

Out of the lot my H&L is serious, the crypto and T212 accounts are just for playing about with to curb the boredom, and luckily I'm in a position where my profits on H&L cover what I am playing with in Huobi/NH/T212 so those 3 could all go to zero and I'd be fine with it, I'd rather they not, but as with any of these things you never ever play with what you cant afford to lose right?

[Stu C]

I still don't buy this tbh, it just doesnt make the economic sense for most miners to buy the latest generation of GPUs...the efficiency isn't there at commercial scale (but they are great for gamers who want to mine overnight!)

Just looking today, mining Ethereum and assuming you have your own large pool of cards, an RTX3090 will net you around $7 per day, before any electricity/running costs. A Radeon VII will net you around $5.50 for a MUCH lower up front cost. I can buy one of those today, and the profitability is actually near enough on par with a 3080/90 when you take power usage into account.

Your numbers don't look so compelling, though I'm sure a 3090 was making $15+ a day at times over the past 9 months.

[[GSV]Trig]

I've seen my 3060Ti over £10 a day several times....

[Spreadie]

I've seen my 3060Ti over £10 a day several times....

Yeah, at the high point in April, my 3090s were each hitting £20+ per day. It's about a quarter of that currently.

When Elon and China started peeing in the crypto-broth, I was very lucky that CEX was slow to cotton on and I sold one of my cards to them for more than £2080 cash - a hefty profit. They are offering around £1130 now, despite only dropping their own selling price from £2600 to £2400 - I think that might change - they constantly show them in stock, so I'm guessing the demand has waned to the point that people are no longer willing to pay their inflated prices.