Bitcoin *frenzy* ):

[flatfish72]

My video card went bad, so I went on Newegg looking for a new one.
And holy moly, I just realized that I can't afford one.
Everything is more than 500 Canadian dollar?????
Years ago with 300$ I can get a quite decent one.

When will this Bitcoin thing cool down???
Start to dislike Elon Musk the guy.

 

[zuri]

what are looking to do?

 

[James M]

Yup. All the prices skyrocketed and every re stock just gets bought out by bots.

 

[jtf74]

My video card went bad, so I went on Newegg looking for a new one.
And holy moly, I just realized that I can't afford one.
Everything is more than 500 Canadian dollar?????
Years ago with 300$ I can get a quite decent one.

When will this Bitcoin thing cool down???
Start to dislike Elon Musk the guy.

Soon I would guess. Gov'ts are taking notice and regulation and or taxation will be coming. Long on XRP myself as its faster processing, cheaper fees, and already working with major institutions.

 

[Opus]

Soon I would guess. Gov'ts are taking notice and regulation and or taxation will be coming. Long on XRP myself as its faster processing, cheaper fees, and already working with major institutions.

It is already taxed by the US gov't. Haven't looked into it since I don't have any so not sure if it treated as income immediately or only when you convert it to cash.

 

[Opus]

My video card went bad, so I went on Newegg looking for a new one.
And holy moly, I just realized that I can't afford one.
Everything is more than 500 Canadian dollar?????
Years ago with 300$ I can get a quite decent one.

When will this Bitcoin thing cool down???
Start to dislike Elon Musk the guy.

I've long disliked the Musk guy. I think he is bad news. He's the Kardashian of the business world.

 

[Hemmdog]

I’ve put my stimulus checks in Bitcoin and made bank

 

[KStatefan]

I have been on the waitlist since October of last year for a 3080.

 

[VanJuarez]

Yeah it's near impossible to get any GPU right now unless you want to pay the scalper prices (3-4x MSRP). It's ridiculous, I wanted to build a new PC, but I guess I will just have to spend money on my tank instead. Darn.

 

[Malcontent]

GPUs can sometimes be economically repaired.

 

[blasterman]

With the US dollar no longer on the gold standard its technically a fiat currency. Just one backed up by bonds and the Fed saying they will back it up....by printing more...lol

The funny part is crypto currencies are fiat currencies.

So, you have people investing in bitcoin with dollatrs....fiat currency investing in another.

When it collapses its going to be epic.

 

[Opus]

I have been on the waitlist since October of last year for a 3080.

Last week our local microcenter had 3060, 3070 and 3080s in stock. I was a little tempted by the 3080 but didn't want to pay the $1049 inflated msrp. They have also been getting in the AMD GPUs. Unfortunately GPUs aren't the only parts that are hard to get. Good power supplies and cases can be hard to find. I've been waiting on the case I want for several months. It comes from Germany so they must be using the same model as Tropic Marin for supplying the US market.

 

[KStatefan]

Last week our local microcenter had 3060, 3070 and 3080s in stock. I was a little tempted by the 3080 but didn't want to pay the $1049 inflated msrp. They have also been getting in the AMD GPUs. Unfortunately GPUs aren't the only parts that are hard to get. Good power supplies and cases can be hard to find. I've been waiting on the case I want for several months. It comes from Germany so they must be using the same model as Tropic Marin for supplying the US market.

I have most of the parts for the build was going to reuse my 570 mother board and Ryzen 3600 processor. The only thing i need is the graphics card and waterblock for it and the fans I want to use have not been in stock anywhere yet. My second computer uses AMD processor and graphics card.

 

[Malcontent]

With the US dollar no longer on the gold standard its technically a fiat currency. Just one backed up by bonds and the Fed saying they will back it up....by printing more...lol

The funny part is crypto currencies are fiat currencies.

So, you have people investing in bitcoin with dollatrs....fiat currency investing in another.

When it collapses its going to be epic.

You might not have to wait that long:






I've actually been buying gold and silver since they're the only things not in a bubble.

 

[Opus]

I have most of the parts for the build was going to reuse my 570 mother board and Ryzen 3600 processor. The only thing i need is the graphics card and waterblock for it and the fans I want to use have not been in stock anywhere yet. My second computer uses AMD processor and graphics card.

My local Microcenter had the AMD 6900xt video card today, $2499! I've read on some local forum that people are camping out every night hoping to get a card when they open.

 

[KStatefan]

My local Microcenter had the AMD 6900xt video card today, $2499! I've read on some local forum that people are camping out every night hoping to get a card when they open.

It is just crazy I will probably wait until prices come back to normal but have no idea when that will be 2022. Glad I did not already purchase the waterblock for the GPU I am on the waitlist for.

 

[driftin]

I feel like I'm living in a bubble... how are computer component prices being influenced by bitcoin and crypto currencies?

 

[KStatefan]

I feel like I'm living in a bubble... how are computer component prices being influenced by bitcoin and crypto currencies?

Due to the current price of crypto currencies and the return on investment of gpu to mine.

 

[Opus]

I feel like I'm living in a bubble... how are computer component prices being influenced by bitcoin and crypto currencies?

Most of the computing for a lot of the cryptos is done better by a GPU than a CPU and then some GPUs are better than others. For instance a Nvidia 3090 can make around $10.50 a day right now. Of course that is assumed you are running it 24/hrs a day. I didn't dig deeper to see the electricity rate they were using to come to that figure or if that even took into consideration electricity cost. Based on that estimate it would take around 238 days to recoup your initial cost of the 3090. The 3090 had a MSRP of around $1500 when it came out late last December but now costs around $2500 retail and probably more on ebay. The market had just cooled off in mid 2019. That is when I was able to get my current 2080 at MSRP. Then a combination of a chip shortage, tariffs, covid 19, and then the release of the 3000 series which they had a very small supply for launch and prices went back to crazy town in 2020.

I'm all for capitalism but things like this drive me crazy. There are small warehouses full of racks of GPUs going 24/hrs a day just mining. That warehouse can use more electricity than a normal size neighborhood. It makes it impossible for the normal consumer to just replace their video card if their current one breaks. I would have to pay the price of what it cost to build my entire computer to just replace my video card now. There are people buying a new computer just so they can get the video card inside because it is the only way to get one immediately right now. It was rumored that on of the card makers had a wait list of over 20,000 by December of last year and they said it would take a very long time to produce that many cards. Now multiply that by the 5 or 6 card makers and we are talking a huge demand that can't be met. I'm sure none of them want to invest in a new factory because that would be taking a big gamble that the crypto market doesn't crash or at least come back down to earth.

 

[zukihara]

Just to be clear, none of thos GPUs are mining bitcoin. They are mining ethereum or Monero or some such.