Discussion in 'The Guru's Pub' started by G13Homi, Jan 11, 2021.
There are few things that can make me happy, but I can confirm that this does.
Ouch, very ouch (for them miners)
The green column is the amount of profit these cards can "potentially" make, but that's calculated based on some shitcoins that haven't yet been fully destroyed by the excessive mining power and quick dump from miners.
Looking at the actual ex-ETH mining power still in operation, it has dropped down significantly.
It used to be about 950 TH in total for ETH + others, and now it's looking like this:
Just 3 days later after the merge, it's less than half, and, while this 375 TH number might still seem large, the reality is that they aren't actually making any money of it.
All these 4 coins are being mined at a loss right now, when calculating only electricity price (ignore auxiliary costs, cooling, personnel, maintenance, rent for the warehouse they are mining in, other costs).
They will inevitably be forced to shut off very very soon, there simply isn't any money to be made anymore from crypto-mining, and it's not coming back until the next boom cycle (assuming the next boom will even happen)
Prices in EU are still pinned to this shitty number.. Idk in what illusion are they living, but they need to wake up soon or not at all and keep that crap.
Nothing will bring them down in Europe.
We are now in the single-digit cents per day level for "profitable" mining (which is mostly fake), basically every gpu and every coin is mining at a loss.
Yet, some 250 TH of mining power is still operational (about a quarter of the original 1000 TH before ETH switch to Pos)
These people that continue to do mining today are nuts, they are literally throwing money out on electricity.
It's mind boggling that it still continues ... are they hoping the crypto market will just magically bounce back ? I don't know. I think they are just crazy.
It seems it's too soon, mining cards aren't yet hitting large volumes on eBay
Best thing right now is to continue waiting for a bit longer, at least until AMD announces their lineup.
You guys remember when I said I placed 1 Euro onto every mining rig article I could find on eBay one day?
Well I almost shat my pants when an email arrived last night to tell me I won an auction.
I jumped out of bed, ran to my computer and immediately logged into eBay.
Seems my wife bought vacuum bags yesterday and the message was the confirmation about the purchase, sent by the seller.
But I used the chance to offer 1 Euro for another 3 mining rigs.
I feel for ya but at the same time I laughed my azz off. I can imagine the smile that hit your face for a minute. Sorry ........
@SplashDown I am aware of the fact this is funny. Have a good laugh on that, don't hold back. I laughed as well after some minutes.
And yeah, I, too, would have loved to have a photo of my face from last night.
I can laugh about myself without hesitation, don't worry.
O I've had stuff like that happen too, couple times actually ...lol
NFT volume down 98% from January amid crypto market uncertainty
My brain every single time I read your username.
Binance Loses $110 Million In Latest High-Profile Crypto Hack - The curious case of the missing half-billion dollars.
In Asia they are selling used mining gpu's by the kilo on the streets side walk , buaahahahahahaha...
source - https://www.tomshardware.com/news/gpu-oversupply-spills-onto-the-streets-in-vietnam
I wonder how many of those still work , without issues.
Me too bro , too many gpu's used for minning almost until death. I would not risk spending money on one of those , let them eat it
What a freaking waste of rare earth and electricity...
You bring a pc and try the gpu thats the only way i would buy one.
And give me 5 for the price of 1...yea!...
And here comes another one FTX went bankrupt and agreed to buyout:
Proposed tie-up sends shockwaves through crypto markets
Major cryptos dropped by 15-25% in one day.
Falling down like a pyramid scheme.