Remembering the disaster that was crypto mining and it's detrimental affects on GPU prices.

harddud

Limp Gawd
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Remember those ridiculous prices being asked for new/used GPUs just a year ago due to crypto miners and supply chain problems? Every time I see a killer deal on a new or used GPU I remember that that card was two-or-three times more expensive just a year or so ago. I game but not extensively and am amazed how inexpensive some truly great lower-end cards are now selling for.

Your thoughts?
 
If someone can get a 5700xt $110 used, $145 6600xt or a 6700xt $235 it is not bad (specially the 5700xt, getting a 2070-3060-6600 type at that price point).

New depends on the reference points, versus 2018 mining or obviously late 2020-2022 not too bad.

There is a no name 4060 at $400 cad on newegg right now, in 2018 I bought the cheapest 1060 6gb I could find Zotac, $435 ($500 with tax)

But I am not sure how good it look pre mining crazy of 17-18 or during 2019, did not follow price much.
 
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My thoughts? I was making enough money to heat my apartment in the winter for free...<shrug>.

Have you tried to buy a house or car lately? At least GPU pricing came back down... The supply chain problems were far worse than the crypto mining. It's just that crypto is a convenient punching bag for some.
 
Have you tried to buy a house or car lately?
Outside some popular models, wonder if there is not some artificiality here

https://www.roadandtrack.com/news/a43696456/car-dealer-inventory-normal-2023/
https://www.carscoops.com/2023/07/i...sit-unsold-at-dealer-lots-including-many-evs/

Maybe goverment intervention created some mismatch between buyers and inventory too:
At the end of June, dealers had an average 53-day supply of all vehicles but a 103-day supply of electric vehicles (EVs).
 
Yeah, used prices are WAY down for older cards in particular. Definitely reminds me of post-crypto-crash prices in 2019. RTX 3000 and Radeon 6000 are still generally up there in value but everything else has tanked. I keep having to remind myself that I already have more GPUs than I know what to do with and just because I could buy up cards for cheap doesn't mean I should. Recently have had to talk myself out of buying cheap 2080Ti, 1080Ti, Vega Frontier, Radeon VII, 5700XT...
It's a good time to be buying used GPUs.
 
Yeah, used prices are WAY down for older cards in particular. Definitely reminds me of post-crypto-crash prices in 2019. RTX 3000 and Radeon 6000 are still generally up there in value but everything else has tanked. I keep having to remind myself that I already have more GPUs than I know what to do with and just because I could buy up cards for cheap doesn't mean I should. Recently have had to talk myself out of buying cheap 2080Ti, 1080Ti, Vega Frontier, Radeon VII, 5700XT...
It's a good time to be buying used GPUs.

I wouldn't get anything older than 3xxx / 6xxx series unless it's for gaming. Last bull run cards about 3 gens old (1080ti etc.) were the cut-off for reasonable profitability IMO. Some older stuff was good for a short time but was so power inefficient that it got priced out really quickly (who cares if you pay off your rx470 in a few months if it's useless immediately and you have to tear everything down again). I'm also worried about 8gb on 3xxx series being enough for mining/gaming in the future though.
 
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I wouldn't get anything older than 3xxx / 6xxx series unless it's for gaming. Last bull run cards about 3 gens old (1080ti etc.) were the cut-off for reasonable profitability IMO. Some older stuff was good for a short time but was so power efficient that it got priced out really quickly (who cares if you pay off your rx470 in a few months if it's useless immediately and you have to tear everything down again). I'm also worried about 8gb on 3xxx series being enough for mining/gaming in the future though.
I don't mine, and the house is good on gaming GPUs (3090Ti + 4070 7900XT in my main, 3070Ti backup, roommate has a 5700XT)

I just have this problem where I really like buying cheap-ish used GPUs for... Reasons? I just think they're neat, and I have fun overclocking.
 
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Wonder what technology will be behind the next GPU rush or blight (depending on what side of the fence you're on) will be - after crypto and after now AI
 
AI probably.

Used mining cards are fine if they had good thermals, but the fans might be shot - I bought an rx 580 8gb the prior craze and it's worked great other than the bios being set for mining, but it had dual bios anyway -- easy fix
 
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I think your on to something real big here! that is Nvidia's main issue! they remember all those take in the back door price mark up's!
 
Remember those ridiculous prices being asked for new/used GPUs just a year ago due to crypto miners and supply chain problems? Every time I see a killer deal on a new or used GPU I remember that that card was two-or-three times more expensive just a year or so ago. I game but not extensively and am amazed how inexpensive some truly great lower-end cards are now selling for.

Your thoughts?
I don't think they are that cheap really. Not sure why you are declaring it so? Older models had always dropped rapidly in price previously. I don't even think we are near original depreciation levels even now.
Personally I was waiting for the great mining card crash that never happened. Cards still are holding value far above what panic sell-offs should have been. Now we have a next wave that is still priced overly high even with mass discounts.
If you are seeing the current market as you say "amazed how inexpensive some truly great lower-end cards are now selling for".
I would have to guess you are new to PC or just not understanding the PC market.
 
Remember those ridiculous prices being asked for new/used GPUs just a year ago due to crypto miners and supply chain problems? Every time I see a killer deal on a new or used GPU I remember that that card was two-or-three times more expensive just a year or so ago. I game but not extensively and am amazed how inexpensive some truly great lower-end cards are now selling for.

Your thoughts?
Disaster for whom? Oh, you mean, when shopping for a card?
 
My thoughts? I was making enough money to heat my apartment in the winter for free...<shrug>.

Have you tried to buy a house or car lately? At least GPU pricing came back down... The supply chain problems were far worse than the crypto mining. It's just that crypto is a convenient punching bag for some.
You don't think the supply chain problem was deliberate? So, the timing was so, it suddenly got a lot better when the mining craze calmed down (cards were gradually but surely not as profitable to mine due to?)? Okay. I have a cheap bridge to sell you. :)

I got my card as everything was winding down - that's just the timing - when I had the $$. It was still expensive but the price went down drastically. Cards were still flying off shelves so fast that the local chains here would not even advertise the cards on their website. They were super expensive on Amazon and Newegg - and some would be sold out pretty quickly. But, the prices normalized not too long after. Then, they were later in stores and you could find the cards listed normally. Yay, supply chain was suddenly stabilized.
 
All the crypto craze did was teach the aibs that most people are fickle af. Most will bitch and moan about high prices incessantly but will turn around in the same breath and pay ridiculous amounts for overpriced gear (see current MB pricing). Stupid pricing is an US problem not a them. We gamers and enthusiasts made it quite clear we're willing take it up the wazoo and smile. Until that changes, we will continue to see idiotic pricing.
 
I don't think they are that cheap really. Not sure why you are declaring it so? Older models had always dropped rapidly in price previously. I don't even think we are near original depreciation levels even now.
Personally I was waiting for the great mining card crash that never happened. Cards still are holding value far above what panic sell-offs should have been. Now we have a next wave that is still priced overly high even with mass discounts.
If you are seeing the current market as you say "amazed how inexpensive some truly great lower-end cards are now selling for".
I would have to guess you are new to PC or just not understanding the PC market.
You make many assumptions and all of them are incorrect. I have been PC gaming for decades and I have been buying/building for 30 years. My point of this post was that just 1-2 years ago new cards were insanely expensive while used cards were just as bad. These days one can pick up a capable gaming card for less than $100 ... and I am thrilled and happy to write about it. I build PCs for financially-challenged individuals and the "crash" in prices has been a blessing for the hobby.
 
My thoughts? Everyone who paid what they charged for GPU's back then should have a swift kick in the taint.
I never understand this take. If you were able to invest in something and almost be guaranteed an ROI in a very short time and then be able to sell that investment for the price you paid initially, would you not do it?

I think people treat crypto as something other than an investment. Any investment is greedy by nature. You want more, so you invest with the hopes of that.

People here hate it because they either didn't get in in time, couldn't afford to or have weird aversion to money.
 
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the IC shortages affected me so much more. Honestly crypto mining on my cards i already had i did just enough to buy new monitors and ssds for our gaming pcs, other than that really didnt affect me much.
 
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It was perfect timing for me- upgraded my son's pc from a 1070Ti to my old 1080Ti. Paid $330 for the 1070Ti from NewEgg back in 2018. Flipped it on Ebay for $650. A good $300+ profit for a card he was able to use for close to 2 years.
 
So...you're asserting that crypto had a bigger effect on global supply chains than COVID...got it.

Someone hand this man a Ph.D in global economics!!!!
I wasn't saying that. Your reading comprehension needs work.
 
So...you're asserting that crypto had a bigger effect on global supply chains than COVID...got it.

Someone hand this man a Ph.D in global economics!!!!
No you see COVID was just an excuse to keep GPU supply very low, thus allowing everyone to jack up prices and make the reasonably priced 30 series unattainable.
 
No you see COVID was just an excuse to keep GPU supply very low, thus allowing everyone to jack up prices and make the reasonably priced 30 series unattainable.
I am not even sure what phenomenon you try to start to explain, GPU supply was much higher during covid than just before or just after no ?, and it is at its lowest since the late 90s right now.

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Considering it was competing with PS5 for very similar supply chain that could have kept AMD low and in the previous mining craze the supply went really high, when price get high and demand really strong it tend to increase supply, not diminish
 
I am not even sure what phenomenon you try to start to explain, GPU supply was much higher during covid than just before or just after no ?, and it is at its lowest since the late 90s right now.

View attachment 586169

Considering it was competing with PS5 for very similar supply chain that could have kept AMD low and in the previous mining craze the supply went really high, when price get high and demand really strong it tend to increase supply, not diminish
I think people assume that because they can't go down and buy a card that it must be artificially controlled. All they had to do was go down to any PC parts store on their restock day and see the line of people buying them up immediately.
 
I am not even sure what phenomenon you try to start to explain, GPU supply was much higher during covid than just before or just after no ?, and it is at its lowest since the late 90s right now.

View attachment 586169

Considering it was competing with PS5 for very similar supply chain that could have kept AMD low and in the previous mining craze the supply went really high, when price get high and demand really strong it tend to increase supply, not diminish
I knew I should have added the /s.
 
The majority of crypto mining is done on asic's, not GPU's like you think. So I'm not sure what you're talking about with crypto miners making GPU's expensive.

I think the prob was covid, and supply chain issues.

I.E Dealerships have cars, but no chips in them. Thousands of ships were sitting waiting for their loads to be offloaded at ports. FL opened theirs for this reason.
 
The majority of crypto mining is done on asic's, not GPU's like you think. So I'm not sure what you're talking about with crypto miners making GPU's expensive.
Some popular crypto at the time like Etherum where using GPUs a lot and crypto made 2 thing, huge demands in volume and a demands ready to pay really high price (i.e. rising the price did not diminish the demands as much that it would normally would) because as long as it was profitable it was a non brainer to still buy for people.

Any form of demand participated, lockdown increasing video game time a lot participated, gaming hardware demand did explode yes:
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And was financed by all the travels, bars, restaurant, movie theaters, etc... type of money that was funnelled into it, it is hard to know exactly how much more came because of mining, how many people "accepted" the price tag calculating in their heads that after 6 month of NiceHash running the net price was cheaper to what they were excited to pay before.

And the world supply issues (and explosion of demand on other computing part, game console, Chromebook, etc...) made so that the production of discrete personal desktop GPU was really high in modern days (and maybe highest it will ever be) in 2021-2022 but it was lower than would have been without those factor at that level of demand, it would have been back to peak 2018 volume without them we can imagine.
 
My thoughts? I was making enough money to heat my apartment in the winter for free...<shrug>.

Have you tried to buy a house or car lately? At least GPU pricing came back down... The supply chain problems were far worse than the crypto mining. It's just that crypto is a convenient punching bag for some.
I have watched gas prices climb back to $3.59 this week, I do question what people are buying in cars and how fast the fools are driving these days, it's 65mph on 73/74 and they blow by you doing 80mph, if we all work from one supply chain of gas, I don't move around alot but my Corolla does get 35.7mpg all around in my rural area, a car is the price your willing to pay for your own taxi ride = reason it's tax to death (taxi ride meaning).

55mph nation wide was for a reason and not to make Jeff Bozo the Clown from Amazon the richest Tool on the planet driving faster to take your money ! it was cheaper gas prices for sure!
 
I have watched gas prices climb back to $3.59 this week, I do question what people are buying in cars and how fast the fools are driving these days, it's 65mph on 73/74 and they blow by you doing 80mph, if we all work from one supply chain of gas, I don't move around alot but my Corolla does get 35.7mpg all around in my rural area, a car is the price your willing to pay for your own taxi ride = reason it's tax to death (taxi ride meaning).

55mph nation wide was for a reason and not to make Jeff Bozo the Clown from Amazon the richest Tool on the planet driving faster to take your money ! it was cheaper gas prices for sure!
We certainly could save a lot of fuel/money by strictly enforcing 55-60mph on interstates. But then again we also could have done the same by not having so many trucks and SUVs on the road either.
 
The time line to what or what, GPU supply in the last 5 years what at is highest during peak covid-crypto of 2021 early 2022
It was convenient to have supply chain problems at exactly the same time, give or take, as the mining craze - so, not only were there supply problems but demand far exceeded what supply there was - so everyone was making a killing except for ordinary Joe Blow gamer.
 
It was convenient to have supply chain problems at exactly the same time, give or take, as the mining craze - so, not only were there supply problems but demand far exceeded what supply there was - so everyone was making a killing except for ordinary Joe Blow gamer.
Less of a killing than if they could have sold more and fabricate GPU for less money without the supply issue too, it was quite unfortunate in some sense, they protected themselve a bit from how much used market oversupply to deal with too but with the AI craze that seem to prefer even need the pro-line not sure if it would have been that big of a deal for nvidia.
 
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You make many assumptions and all of them are incorrect. I have been PC gaming for decades and I have been buying/building for 30 years. My point of this post was that just 1-2 years ago new cards were insanely expensive while used cards were just as bad. These days one can pick up a capable gaming card for less than $100 ... and I am thrilled and happy to write about it. I build PCs for financially-challenged individuals and the "crash" in prices has been a blessing for the hobby.
That may be your point but it was a very special set of curcumstances that lead to that. Not something that is normal in the last 30 years. My point is that prices are still not low especially in the second hand market. We still seem to be hanging onto this elevated price bubble for no logical reason.
 
as long as AI training effects improve noticeably every year, there will continue to be ai demand for new gpus

AI models are the reason we're seeing the largest increment in vram size in two decades!

oh, for those still lost in the 1920s of GPU mining .you do know most mining software that isn't stake is purposely designed for general-compute-only? that means asics do nothing!
 
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