Crypto Miners Are Dumping GPUs!!!
Rtx 3080 is listed for a measly 523 dollars, and this is usd welcome to the rapmon youtube channel everybody and were going to be going over this article, courtesy of toms hardware and just kind of see what theyre talking about us miners now when they do refer To miners, though, keep in mind theyre, referring to the larger commercial and industrial type of people, not your everyday residential type of miners. Anyway, uh cryptocurrency miners in china have started dismantling their operations and offloading the best graphics cards. On the second hand, market best graphics card. So lets just have a look: what are the best graphics cards so best graphics cards for gaming? So we can close this up already, so the best graphics cards for uh crypto mining are those cmp cards. The 90s, the 170s and the 220s are insanely efficient. That most residential miners never even got to get their hands on because they didnt even know they existed or they didnt have an option to purchase them. Those went to the farms and theyre running super efficient. Now that we got that out of the way uh as bitcoin and ethereum came crashing down and the graphics card pricing began to normalize, miners are looking to cut their losses and sell off their equipment. Sellers have flooded this chinese town, a second ad chinese marketplace, similar to ebay with many used geforce rtx 30 series and fear graphics cards. We suspect that the miners arent the only ones getting rid of their stock, but the chinese merchants are also include scalpers and internet.
Cafe owners, for example, twitter user. I leak vn spotted multiple listings of custom, geforce, rtx 3080 graphics cards, reportedly selling for 3500, yen or 523.21 cents for reference. The geforce rtx 3080 has a 699 dollar msrp. So, im going to run this straight into uh here and convert that into a canadian dollar, so that looks like 908 dollars, canadian come from usd! So, if youre from canada, you know that we get ripped off our msrp value is actually for. A 1080 is 1029 for the founders edition, which is the cheapest card. You can buy at an msrp price and just to rewind a little bit. Theyre selling for 523 dollars worked out to us canadians out there. That is 679, so out here were probably getting it for about 750 800, so its slightly down, but still not the best because they are used were getting to that used uh market type of ordeal here, so that means prices are going to be dropping more and Once ethereum moves to pos, oh, the prices are going to come crashing down. So if youre in the market, whether its for mining or for gaming, just wait a few more months potentially a year and were gon na see a lot lower prices. So save your money. Guys trust me all right so for reference, the rtx 3080 has a 699 msrp, so these used graphics cards are selling way below msrp. In addition, twitter user magnesized gpu discovered that some sellers deviously used fake pricing to attract buyers.
In reality, some of the merchants are asking between 600 to 750 dollars for a geforce rtx 3080.. Some miners have resorted to live stream auctions to get rid of their graphics cards as per a post. Here these miners are selling tons of rtx 3060 ti graphics cards between 300 and 350 dollars. Once upon a time, the rtx 3060 ti was one of the most popular models for mining, given its performance and price tag, but unfortunately, the app for power graphics cards are just lying on the floor, like cheap rugs waiting for the highest bidder, and we can see Here are some chinese listings for all these different gpus, its not just the minor league cryptocurrency miners feeling the crypto squeeze even big mining farms like toronto based outfit bit, farms have started to take action according to a coindesk report, bit farm sold 3 000 btc valued At 62 million dollars to reduce the companys debt and boost liquidity, the company is now down to 3349 btc. In addition, riot blockchain, one of the big name miners – has started selling his bitcoin since april to raise cash. Now things get a little bit interesting here because obviously were talking about ethereum and a little bit of pos, so ethereums transition to proof of stake, pos commonly known as the merge has suffered multiple setbacks over the years ethereum developer tim baco expects the merge to reach Completion between august and november now i have not heard tim baker say anything like this.
Let me know in the comments below. Is there an update that i have missed lately? Maybe he did. I do know the difficulty bomb in just a week and a half or so looks like july 1st at the current block time when they predict the delay. It is set to go off again around august type of time frame, which does give that three months to where well hit around the 2025 second time around november. So thats the timeline im kind of recognizing that, but none of the devs themselves gave a timeline for the merge. So i am curious, did tim baco actually say something about august to november? Again, i do not think he did. Let me know down below miners still have a few months to unload their assets. However, it wouldnt be very intelligent to pick up a graphics card with a history of operating 24 7 in the cryptocurrency mines. Even if the price looks attractive, but who knows maybe use after graphics, cards will be dirt cheap by november and worth the gamble. And i agree with this, but i dont think its gon na be november. It all depends on the merge and its gon na take probably a good three to six months after the merge till people. Finally, wake up open their eyes and see whoa ethereums gone and its gon na have a massive impact in profits and gpu mining will change forever. So keep that in mind guys its gon na take some time, but gpu prices are definitely gon na come down.
Do i recommend purchasing them? Definitely not right now as good as that price looks its still its gon na get a lot better and even for the future gpus its, not looking very hot right now, but again we dont know what the future is in store for us. So, thank you for watching this video guys ill see you on the next one rabbit out. Thank you for watching my video and, if you havent seen one of these be sure to check them out and if youve already seen them, maybe you missed some might have to watch it one more time and if you just let it play in the background, thats All right as well, i do try to live stream every weekend, as well as every couple days during the week, so be sure to be subscribed.