3 ms·

And then they'll buy back at horrendous prices when the Price goes up again? Seems like shortsighted people do this. At least they could play some tremendous vi

by geff82 9y ago

And then they'll buy back at horrendous prices when the Price goes up again? Seems like shortsighted people do this. At least they could play some tremendous video games in the mean time ;)

jimminy 9y ago
They can still profit off the GPU's at current rates, if a glut is coming. For personal use I bought some brand new R9 390's last year @$270. If I had wanted to sell them used about 2 weeks ago I could have sold them for about $700 pretty easily. Lots of room for margin in selling them early and getting back in after the glut if you're looking long-term. Just take a few weeks out of mining.
iak8god 9y ago
It's not just the price, but the rising difficulty[1]. Since last month the price of ETH dropped by more than 50% (from a record high bubble). In the same time span, difficulty - how much ETH you can expect to get per whatever your GPU's hashrate is - has nearly doubled. A whole bunch of people bought in last month when mining profitability calculators were saying you could make $X per month per card, where X is a significant percentage of the card's retail price. Now it's $X/4, the difficulty continues its steady rise, and the fiat price of ETH is totally unpredictable but appears to be on a downward trend. Unless the price of ETH returns to record highs, the cards people bought last month will never pay for themselves. That's why they're flooding eBay. [1] https://www.coinwarz.com/difficulty-charts/ethereum-difficulty-chart https://www.coinwarz.com/difficulty-charts/ethereum-difficul...
netsharc 9y ago
It's a 21st century gold rush... the prices of shovels rocketed up that the money hungry-people now see selling used shovels is more profitable than digging up the gold. Econ 101 obviously says the price of shovels will now go down...

3 ms·

And then they'll buy back at horrendous prices when the Price goes up again? Seems like shortsighted people do this. At least they could play some tremendous vi

by geff82 9y ago

And then they'll buy back at horrendous prices when the Price goes up again? Seems like shortsighted people do this. At least they could play some tremendous video games in the mean time ;)

jimminy 9y ago
They can still profit off the GPU's at current rates, if a glut is coming. For personal use I bought some brand new R9 390's last year @$270. If I had wanted to sell them used about 2 weeks ago I could have sold them for about $700 pretty easily. Lots of room for margin in selling them early and getting back in after the glut if you're looking long-term. Just take a few weeks out of mining.
iak8god 9y ago
It's not just the price, but the rising difficulty[1]. Since last month the price of ETH dropped by more than 50% (from a record high bubble). In the same time span, difficulty - how much ETH you can expect to get per whatever your GPU's hashrate is - has nearly doubled. A whole bunch of people bought in last month when mining profitability calculators were saying you could make $X per month per card, where X is a significant percentage of the card's retail price. Now it's $X/4, the difficulty continues its steady rise, and the fiat price of ETH is totally unpredictable but appears to be on a downward trend. Unless the price of ETH returns to record highs, the cards people bought last month will never pay for themselves. That's why they're flooding eBay. [1] https://www.coinwarz.com/difficulty-charts/ethereum-difficulty-chart https://www.coinwarz.com/difficulty-charts/ethereum-difficul...
netsharc 9y ago
It's a 21st century gold rush... the prices of shovels rocketed up that the money hungry-people now see selling used shovels is more profitable than digging up the gold. Econ 101 obviously says the price of shovels will now go down...