Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Paha87 on August 20, 2018, 06:03:52 PM
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In the summer of 2017, the rise in prices for cryptocurrencies led to the release of high-performance graphics cards. New cards with high hashrate were sold out like hot cakes, and in the secondary market they cost twice as much as in stores. A year later, these video cards can be purchased for a penny, they "did not need" miners.
Fast aging
In the summer of 2017, the Geforce 1070, Nvidia's second most powerful graphics card, was selling for $ 450. There was only one problem: no one could buy it. In stores around the world miners left shelves empty, buying up all the graphics cards.
While computer stores in many countries did not have GPUs, such as Geforce and Radeon 1070 570 on the secondary market, prices for used cards was even higher than new. From last summer until early 2018, when the price of cryptocurrency was at its peak, cards for $400 changed hands on the secondary market for $800 dollars. By that time, bitcoin could already be mined only on ASICs, but" home " miners were passionate about the Ethereum network and the production of coins such as Sia, Monero and Zcash, as well as hundreds of less well-known new coins.
In the second half of 2017, the value of the cryptocurrency grew, but along with it the networks ' hashrates also grew. Today, the price of bitcoin, ether, and all other coins can be much lower, but this does not mean that the coins have become easier to mine. Mining on video cards (GPU) is now hardly a profitable occupation, resulting in supply in the secondary market is now much higher than demand. Now it's the turn of gamers, data researchers and scientists to gloat as they buy up graphics cards on the cheap, sold by miners who are trying to get at least some money for the equipment.
Who's buying?
Data from the leading trading p2p-platforms Craigslist (UK) and Gumtree (USA) engaged in the sale of computer equipment, quite clearly reflect the situation. Much of the equipment that is now on sale has been used for less than six months, which suggests that their original owners may not even have made a profit from their mining.
The sellers sell the card for $700-$950 only $250-$300, on the grounds that they "were not needed". Changing the situation in which the secondary market is now selling equipment much cheaper than new and is in excess, may indicate that the mining boom is over.
Of course, the hashrate may decrease, but it is unlikely, and in this case, independent mining on small farms will again become profitable. However, with a significant increase in the number of professional companies crowding out private miners, and the desire of these companies to establish farms in countries with a cold climate, favorable regulatory environment and cheaper energy, we can conclude that the era of Amateur mining is at sunset.
Link to information resource - https://altstake.io/news/era-chastnogo-mayninga-na-zakate
(https://i.ytimg.com/vi/2aa24dev4vs/maxresdefault.jpg)