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In the last 18 months, Ethereum miners spent $15 billion on GPU cards.
Over the previous 18 months, Ethereum miners alone have reportedly spent about $15 billion on GPU cards. This statistic excludes GPUs used by gamers for both gaming and mining, as well as gamers who attempted to recoup some of the cost of their equipment by mining their gaming cards.
A new estimate claims that Ethereum miners have spent about $15 billion on GPUs in the previous 1.5 years. This figure does not include the cost of CPUs, motherboards, power supply, and other mining rig components. Many cryptocurrencies had a significant price surge towards the end of 2020, prompting millions of individuals to purchase graphics cards in order to mine Ethereum in order to make quick money.
Demand vastly outstripped supply, sending prices rising, not to mention hardware resellers complicating matters even more. According to Jon Peddie Research, the average additional selling price of graphics cards increased from over $400 in 2019 to approximately $800 in 2018.
Ethereum has lost 80% of its value in the last few months, leaving many people fighting to recover their losses. Bloomberg reported on a man who has gained only $5,000 in cryptocurrency from his initial investment of $30,000.
NVIDIA GeForce RTX 3080 and RTX 3070 on the rise in the latest Steam hardware survey - 06/03/2022 08:58 AM
According to Valve's monthly report on the hardware and software present in users' PCs, May was another outstanding month for Nvidia's Ampere graphics cards, with the RTX 3080 and RTX 3070 being th...
ASUSTOR included in the list of Adobe official video and audio partners - 06/25/2020 01:26 PM
ASUSTOR Inc. is now included in the list of Adobe official video and audio partners. Every ASUSTOR Network Attached Storage (NAS) provides high capacities as well as backup capabilities, providing pro...
AMD 45nm processor reaches 3GHz in the lab - 04/17/2008 08:39 AM
Some news from the AMD front today
JiveTurkey
Member
Posts: 63
Joined: 2016-12-31
Member
Posts: 63
Joined: 2016-12-31
#6027187 Posted on: 06/21/2022 08:02 PM
I am one of those who game first and mine second. The old 2080ti and 1080 are mining away. It doesn't add up too much, especially post electricity. But you can tip internet people here and there.
Crypto you mined 6+ years has an ok margin, but reason gpus shift so hard with even a medium price dip is because the margin is so small. you can't even break even at these current prices.
3090 is horrible at mining because the the ram on the backside goes straight to overheat. There is only backplate and no proper heatsink let alone cooling. I even added some large HSF to backplate, but it barely helps because the backplate is just not designed for serious heat dispersion.
I am one of those who game first and mine second. The old 2080ti and 1080 are mining away. It doesn't add up too much, especially post electricity. But you can tip internet people here and there.
Crypto you mined 6+ years has an ok margin, but reason gpus shift so hard with even a medium price dip is because the margin is so small. you can't even break even at these current prices.
3090 is horrible at mining because the the ram on the backside goes straight to overheat. There is only backplate and no proper heatsink let alone cooling. I even added some large HSF to backplate, but it barely helps because the backplate is just not designed for serious heat dispersion.
JiveTurkey
Member
Posts: 63
Joined: 2016-12-31
Member
Posts: 63
Joined: 2016-12-31
#6027192 Posted on: 06/21/2022 08:16 PM
In US you can't buy crypto anonymously, and all transactions are reported to IRS. Even mining anonymously is getting harder and harder. And all IRS needs is one price of info connecting you to a crypto address and then you get audited.
I get it, a handful of crypto billionaires not paying taxes is annoying, there are also a handful of billionaire drug cartels and human traffickers. Which is why taxing income with a layer of complicated loopholes only people with lawyers and accountants can exploit is a garbage system. Wipe out all income taxes and only anonymously tax consumption, then everyone pays. Tax luxury goods greater than food. That is how you make such a system healthier.
Sorry if on a rant, my point is the IRS has established framework for successfully taxing and controlling crypto, so where ever you live your government may adopt it one day.
They do it by threatening the exchanges.
I firmly believe the power and value of crypto is that you can move around funds without government or banks. The get rich quick stuff is just that and it will get it regulated so that it's original value is no longer.
In US you can't buy crypto anonymously, and all transactions are reported to IRS. Even mining anonymously is getting harder and harder. And all IRS needs is one price of info connecting you to a crypto address and then you get audited.
I get it, a handful of crypto billionaires not paying taxes is annoying, there are also a handful of billionaire drug cartels and human traffickers. Which is why taxing income with a layer of complicated loopholes only people with lawyers and accountants can exploit is a garbage system. Wipe out all income taxes and only anonymously tax consumption, then everyone pays. Tax luxury goods greater than food. That is how you make such a system healthier.
Sorry if on a rant, my point is the IRS has established framework for successfully taxing and controlling crypto, so where ever you live your government may adopt it one day.
They do it by threatening the exchanges.
Fediuld
Senior Member
Posts: 671
Joined: 2016-10-04
Senior Member
Posts: 671
Joined: 2016-10-04
#6027259 Posted on: 06/22/2022 12:59 AM
^^I think the prices will continue to go down.
They will if buyers hold off for a bit.
Yep. We need to hold off over the next few months, have new gen hit the market and everything will come crashing down.
^^I think the prices will continue to go down.
They will if buyers hold off for a bit.
Yep. We need to hold off over the next few months, have new gen hit the market and everything will come crashing down.
KissSh0t
Senior Member
Posts: 11319
Joined: 2011-10-22
Senior Member
Posts: 11319
Joined: 2011-10-22
#6027262 Posted on: 06/22/2022 01:13 AM
^^I think the prices will continue to go down.
They will if buyers hold off for a bit.
That's my plan, just waiting until 3060 get close to $300... I have no real interest in that card until it does.
^^I think the prices will continue to go down.
They will if buyers hold off for a bit.
That's my plan, just waiting until 3060 get close to $300... I have no real interest in that card until it does.
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Senior Member
Posts: 6284
Joined: 2010-10-17
Second hand prices are near MSRP, if not more on eBay UK...