Collapse of crypto mining industry leads to auctioning off of thousands of graphics cards

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#6027410
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Those greedy idiots spending a fortune to pump money and then vast amounts of wasted power into the bottom of the pyramid scheme finally got their asses handed to them, as those at top of pyramid scheme as usual took all the money and ran. This was all pre-planned and engineered by those at top (the original creators and investors) so that they got lots of average Joes to invest in crypto, and then those at top could sell all they had at hugely inflated prices to those new (at bottom) of it, before the scheme collapsed and those at bottom can no longer sell to anyone or get their money back. https://miro.medium.com/max/600/1*csgvzCGrQgtw8mhUe8a6CQ.jpeg
#6027413
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Scrolling through ebay, some of these bids are more expensive than I'd be willing to pay new, except they're heavily used.
#6027416
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It may take weeks for mining farms with 1000s of cards to unload. I doubt they will go to ebay to sell them off individually, but rather look for some volume buyers to take them off their hands for cheap.
#6027421
https://forums.guru3d.com/data/avatars/m/216/216349.jpg
For me, they can choke with them!
#6027425
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alanm:

$15 billion of GPUs will not be easily sold. They will have to be quite cheap to move in such massive volumes. Perfect timing for Nvidia and AMD to see this as they introduce their new power hungry expensive cards in 3rd or 4th quarter.
which will ironically start another mining boom lol
#6027427
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any expert in chat. I am 60 fps monitor gamer. Do I need to change CPU if not a single game dips below 60 hz ever? Is game dipping below 60 hz will be signal to change platform? I use Ryzen 5950x and it seems I am set at least till 2030.
#6027443
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Agonist:

When the last crash happened, they barely could give them away and this time is way worse. I got 2 nitro RX 480s 4gb for $199 shipped on ebay in Feb 2019. Both still work perfectly today. Dude even emailed me the stock bios to flash back from the mining bios. This is hilarious and awesome. I need 7 cheap GPUs for rigs I got to finish. And yet there are idiots who still trying to ask $390 for a 1070ti. $300 for RX 580 8gbs. $230 is still too high for RTX 2060s.
Some sellers are miners are still stubborn trying to overprice their cards but they will realize whats happening soon enough.
#6027445
https://forums.guru3d.com/data/avatars/m/80/80129.jpg
Undying:

Some sellers are miners are still stubborn trying to overprice their cards but they will realize whats happening soon enough.
Maybe. Lots of miners sold off their Pascal cards prematurely -- when the second boom hit those cards also shot up in price and at the height a 1080Ti was making like $6-7 a day mining. If there's a third boom in the same amount of time then it's probably not even worth selling this gen off unless you're getting a good price for it.
#6027446
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Excellent!
#6027450
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I thought Eth proof of stake was pushed back to next year? Otherwise... "Muahahahahah Muahahahahahahaha" I just thought of it, but Russia could have been using crypto to circumvent all international sanctions. How long before people grow a conscience instead of promoting this non-sense? Cryptos need to be gone or regulated, and if it use more electricity than our current system, it's an historical non sense to pursue it. There's a finite amount of energy on this planet, we better put it to useful universal contributions. [SPOILER]
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#6027457
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XenthorX:

I thought Eth proof of stake was pushed back to next year? Otherwise... "Muahahahahah Muahahahahahahaha" I just thought of it, but Russia could have been using crypto to circumvent all international sanctions. How long before people grow a conscience instead of promoting this non-sense? Cryptos need to be gone or regulated, and if it use more electricity than our current system, it's an historical non sense to pursue it. There's a finite amount of energy on this planet, we better put it to useful universal contributions. [SPOILER]
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[/SPOILER]
ETH POS was "a sure thing" by the end of 2019... then 2020... then 2021... now 2022. Yes Russia is using crypto to circumvent a lot of sanctions. Conscience is nowhere to be found in this conflict, on either side tbh.
#6027463
https://forums.guru3d.com/data/avatars/m/290/290401.jpg
I hope that no one will buy them. Let the miners choke on their gpus.
#6027471
https://forums.guru3d.com/data/avatars/m/79/79740.jpg
Kool64:

which will ironically start another mining boom lol
Yeah, in some alternate universe. 😀
#6027472
https://forums.guru3d.com/data/avatars/m/283/283844.jpg
Denial:

Maybe. Lots of miners sold off their Pascal cards prematurely -- when the second boom hit those cards also shot up in price and at the height a 1080Ti was making like $6-7 a day mining. If there's a third boom in the same amount of time then it's probably not even worth selling this gen off unless you're getting a good price for it.
I am amazed how quick people forget.If it feels good to put down the bad guys then have at it.I know some people who made some money. Also for got to say people wanting government regulation just freaking WOW
#6027473
https://forums.guru3d.com/data/avatars/m/271/271131.jpg
I waited sooo long for that moment .... HA ... HAHAHA .... HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAHA ... HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA .... HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA .... HAAAAAAAAAAAA 😀 Refreshing ....
#6027474
https://forums.guru3d.com/data/avatars/m/248/248627.jpg
They better be dumping them cheap and i mean 100-200usd for 3080's or 6900's if theyre more than that they can keep their burnt out gpu's.
#6027479
https://forums.guru3d.com/data/avatars/m/165/165326.jpg
Gamer's rejoice , karma is in full swing 😀 . Back on the gpu shortage days i had such a very hard time trying to get an rtx 3070 , took me months to find one due to miners and scalpers in stock and i had to pay a way overpriced one for $900US 😱 ( msrp is $499 US ) , just crazy and absolute bunker's what i payed for that video card but that's what my son wanted for his birthday so i had to do it . Since then i will never forget what greedy miners did to this industry and what us gamers suffer beacuse of their greed. I will never forgive ... and i am laughing my ass off every day seeing this sinking boat of crypto with flooded gpu's everywhere selling for peenies. Also a good read right here - https://forums.guru3d.com/threads/crypto-meltdown.442990/
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