Nvidia RTX 3XXX Series announced

[Fenix]

The positive from this post is now miners have started thinking to sell there cards as they fear drop in profit. A simple math for 30 GPU's @90k means an investment of around 30L so they want to cash in before price drops
Imagine 10 such miners sell there cards and people who are desperate buy them, next such batch will have lower price due to drop in demand and surplus supply thats when WE THE GAMERS should buy them (Waited enough to deserve that)

Kartik, small miners might start selling their GPU. I wish if LHR was implemented across the board,lets see how much difference does it makes.

 

[kartikoli]

Kartik, small miners might start selling their GPU. I wish if LHR was implemented across the board,lets see how much difference does it makes.

Small miners are the ones we will see here on TE (5~6 GPU setup) the big farms will sell there cards in bulk and won't bother listing them here.
I don't think LHR will bring price down for second hand market it may actually do the opposite and increase the price (LHR on new cards will make old cards preferable for miners with high hash rate and more profit) but for people who want to buy new gpus can actually get them at acceptable price.

 

[Fenix]

Small miners are the ones we will see here on TE (5~6 GPU setup) the big farms will sell there cards in bulk and won't bother listing them here.
I don't think LHR will bring price down for second hand market it may actually do the opposite and increase the price (LHR on new cards will make old cards preferable for miners with high hash rate and more profit) but for people who want to buy new gpus can actually get them at acceptable price.

Haan non LHR will not be even pricier and it also started that chain reaction. AIB 3080 on all online stores is starting to touch 2L, almost nearing 1.8L. 3070 has moved from 1.1L to 1.2L or 1.3L.

 

[roofrider]

A simple math for 30 GPU's @90k means an investment of around 30L

Any idea what these cards were going for in March? Pretty weird some dude jumped in and bought 30 of them only to mine for 2 months and decided to salvage the rest of the investment by selling instead, maybe a smart decision.

Can't say how it'll be once LHR is here. If the mining profits are low there won't be much demand for non LHR cards too but if the profits are high enough then yeah. If LHR cards are also getting scalped then it'll be the same story, high prices. Btw FE cards are going to remain non LHR so even more competition there.

 

[burntwingzZz]

Any idea what these cards were going for in March? Pretty weird some dude jumped in and bought 30 of them only to mine for 2 months and decided to salvage the rest of the investment by selling instead, maybe a smart decision.

Can't say how it'll be once LHR is here. If the mining profits are low there won't be much demand for non LHR cards too but if the profits are high enough then yeah. If LHR cards are also getting scalped then it'll be the same story, high prices. Btw FE cards are going to remain non LHR so even more competition there.

Loan Leke setup banaya hoga ,the moment there is no profit its balls to the walls .Guys just dont break in now as we will have to deal with middleman now ,we as community should have a rate card for all the models of the GPUS ,keep prices open and a separate GPU buy sell section

 

[kartikoli]

Not sure what was the price in March, I was eyeing a card in 20k range and was disappointed with launch price of 3060/3070 but since then we all know the story.
This mining craze can only go down if profit drops thats the only solution at this point in time. For new cards with LHR lets hope it works and not get cracked like first attempt from nvidia

Any idea what these cards were going for in March? Pretty weird some dude jumped in and bought 30 of them only to mine for 2 months and decided to salvage the rest of the investment by selling instead, maybe a smart decision.

It is as he might have purchased those cards at low rate that what it is now so
Selling price - 90k
Purchase price - somewhere around 70~75k (assumption)
Mining profit - not sure but say 1L?? Miners can confirm

So in couple of months he made good profit, not bad at all and selling them when there is high demand

 

[nitin_g3]

Not sure what was the price in March, I was eyeing a card in 20k range and was disappointed with launch price of 3060/3070 but since then we all know the story.
This mining craze can only go down if profit drops thats the only solution at this point in time. For new cards with LHR lets hope it works and not get cracked like first attempt from nvidia

It is as he might have purchased those cards at low rate that what it is now so
Selling price - 90k
Purchase price - somewhere around 70~75k (assumption)
Mining profit - not sure but say 1L?? Miners can confirm

So in couple of months he made good profit, not bad at all and selling them when there is high demand

During March-April, one 3070 was easily earning 10k minimum per month. So 3 lakhs a month using all 30 cards. 6 lakhs in 2 months using 30 rtx 3070s. Now one card runs on 125 watts if optimised well. Calculate the electricity cost based on the state he was mining in.

 

[roofrider]

@nitin_g3 the other card you have is 4GB right? I thought Eth can't be mined on those? Are the other coins even profitable?

 

[burntwingzZz]

China’s Setting up a Hotline for Snitching on Cryptocurrency Miners

The Blockchain Scare

www.tomshardware.com

 

[rockstah]

Any idea what these cards were going for in March? Pretty weird some dude jumped in and bought 30 of them only to mine for 2 months and decided to salvage the rest of the investment by selling instead, maybe a smart decision.

Can't say how it'll be once LHR is here. If the mining profits are low there won't be much demand for non LHR cards too but if the profits are high enough then yeah. If LHR cards are also getting scalped then it'll be the same story, high prices. Btw FE cards are going to remain non LHR so even more competition there.

They probably made close to 10L in mining and now they're selling for the same price that they bought. 10L profit in this short timeframe by investing 30L is pretty good. They know mining won't be profitable enough anymore in the coming months. These middleman will try to keep the prices high for a while till many more GPUs get dumped in used market.

 

[nitin_g3]

@nitin_g3 the other card you have is 4GB right? I thought Eth can't be mined on those? Are the other coins even profitable?

What other card?

 

[roofrider]

What other card?

I thought you had two cards

 

[iPwnz]

The positive from this post is now miners have started thinking to sell there cards as they fear drop in profit.

Ya they may not admit it but they definitely are concerned about upcoming losses lol.

 

[roofrider]

Just to be clear I don't have anything against (hobbyist) miners [emoji14] Lots of gamers are mining and with hindsight it looks like it would've been a smart decision to buy a card earlier even at scalper prices, mine for a month and think of it like getting a discount on the card or getting it down to MRP. This is probably no longer viable.

 

[kartikoli]

It make sense for games to mine for 2~3 months and get return for the extra money they paid

 

[Fenix]

It make sense for games to mine for 2~3 months and get return for the extra money they paid

Pehley card to miley sahi.

 

[nRiTeCh]

Nvidia was pretty late to act. They should have launched two separate genres of cards after 2xx series, this would have kept the market balanced for both miners and gamers.

 

[rockstah]

Nvidia was pretty late to act. They should have launched two separate genres of cards after 2xx series, this would have kept the market balanced for both miners and gamers.

They're only in it for profits, they don't care if a miner buys it or a gamer buys it just like they don't care if people buy it for professional use like cafes, rendering. If it sells and making big profits why would they wanna kill it during its peak demand.




3090FE lelo

 

[princeoo7]

 

[sauravghosh]

Yeah got the above mail. I wished PABGB sent at least one email which was worth keeping. In past 2 years every email they sent was useless like this. Their seasonal discounts are the best. 200 off on a 50k build or something. Not sure whether they are serious!