Prices of folding/mining cards may go further down soon
Posted: Wed Dec 26, 2018 3:57 am
According to this news, bitcoin miners will officially earn zero dollars profit for mining within the next few months.
As a result, a lot of miners have stopped mining.
I'm not sure if the lack of miners are any reason for it, but bitcoin and a lot of other cryptocurrencies have reported a sharp decline in both value as well as miners.
Without miners, there are less transactions verified, and done.
That means the value goes down.
When the value goes down, whomever still mines can be earning the same amounts of points, the actual dollar value he'll get per point will go down as well; causing those profits to be completely eaten by the cost of just running the thing (just electric bills).
On the other hand, those who believe in mining, will rack up serious points, which can turn into good cash once the cryptocurrency goes up again.
What that could mean us, is
1- that some of these miners who stop mining, will sell their cards, cheaper on the second hand market.
2- That there'll be an oversupply on mining cards (like the GTX 1060), in part due to secondhand market, and in part because NVidia could not have anticipated this, and has to slow down production until the market demand meets supply again.
3- This oversupply will cause the price of new cards to drop, and the second hand market even more.
So, if you're in the market for a new card, like the GTX 1060 (like me), I'd probably wait for a few more weeks or months, until the prices drop far enough.
As far as bitcoin mining, in the future, it probably will be done in countries where electricity is cheaper. Like India, China, or so...
In USA it makes no sense, as our electricity is 2 to 3x more expensive.
But for things like Folding @ home, hopefully some of those miners will re-purpose their hardware towards FAH projects, for the greater good of mankind!
As a result, a lot of miners have stopped mining.
I'm not sure if the lack of miners are any reason for it, but bitcoin and a lot of other cryptocurrencies have reported a sharp decline in both value as well as miners.
Without miners, there are less transactions verified, and done.
That means the value goes down.
When the value goes down, whomever still mines can be earning the same amounts of points, the actual dollar value he'll get per point will go down as well; causing those profits to be completely eaten by the cost of just running the thing (just electric bills).
On the other hand, those who believe in mining, will rack up serious points, which can turn into good cash once the cryptocurrency goes up again.
What that could mean us, is
1- that some of these miners who stop mining, will sell their cards, cheaper on the second hand market.
2- That there'll be an oversupply on mining cards (like the GTX 1060), in part due to secondhand market, and in part because NVidia could not have anticipated this, and has to slow down production until the market demand meets supply again.
3- This oversupply will cause the price of new cards to drop, and the second hand market even more.
So, if you're in the market for a new card, like the GTX 1060 (like me), I'd probably wait for a few more weeks or months, until the prices drop far enough.
As far as bitcoin mining, in the future, it probably will be done in countries where electricity is cheaper. Like India, China, or so...
In USA it makes no sense, as our electricity is 2 to 3x more expensive.
But for things like Folding @ home, hopefully some of those miners will re-purpose their hardware towards FAH projects, for the greater good of mankind!