Crypto crash and GPU prices

[Grindspine]

https://stealthoptional.com/crypto/gpu-prices-drop-crypto-fall/

[CreepinDeth]

It's nice but last time this happened crypto just rebounded back and nothing really happened. I'm really hoping it's different this time.

[BLUEVOODU]

yeah... it's about time for prices to fall.  Depending on the currency, it's getting much harder to mine.  I don't think mining is feasible anymore for your average person to mine for bitcoin.   If they have a bunch of people mining now, but they start getting to the maximums of mining, the reason for participating in mining goes away.  That means they're going to run into issues in the future because miners are the reason the currencies live.

I guess they'll figure out a solution.. but, it's a real problem.

[CreepinDeth]

There's always a new cryptocurrency popping up and claiming to be the latest thing. As long as you have the hardware you can get in on these immediately, see the prices go up at the beginning and then sell before it completely loses its value. Crypto won't go away as long as there are people who believe it's the road to quick riches. Which it can be if you get in early.

Although Ethereum has been around for a long time, it's easier to mine than bitcoin and is still being profitable. That's why miners don't really bat an eye at the prices.

[CreepinDeth]

So 2 months have passed and prices are consistently coming down! Hopefully this keeps up. Doesn't look like crypto is crashing but it's not being as profitable as it once was. The Best Buy closest to me actually has a few GPUs available to purchase right now. Prices are still not at MSRP but they're cheaper than this time last year.

Here's a video describing what the pricing landscape is looking like right now in March of 2022.

[targetrasp]

yay! another $200 drop and i can afford one!

[CreepinDeth]

April results are up and they're still going down!!

I'm hoping to pick up an AMD RX card since I'm now using Linux as my daily driver PC. Things are looking good.

[BLUEVOODU]

This is pretty amazing... it's like one of the only things going down price wise right now.  What the heck?!

Did you end up buying a new graphics card?  Heck... if the world starts heading into a recession... maybe we can get them super cheap 

[CreepinDeth]

Did you end up buying a new graphics card?  Heck... if the world starts heading into a recession... maybe we can get them super cheap 

I personally haven't. Actually moving to a new location so can't buy anything right now as all money is going to the move. Hopefully later in the summer I can get a 6700XT.

[CreepinDeth]

Oh man, it actually happened. There is a crypto crash apparently.

https://www.vice.com/amp/en/article/88gyy4/its-a-bloodbath-the-crypto-crash-is-real

That article might be a bit hyperbole but there is definitely massive drops going on. Wouldn't be surprised if the second hand market gets flooded with GPUs.

[BLUEVOODU]

Right... crypto and a lot of other things are starting to teeter right now.  In the case of Bitcoin, it's still super high.  It sounds like there are a few investors that are a tad worried as they will have margin calls coming if it goes a bit lower.  I mean, 40k to 30k in less than a month. 

I'm starting to wonder if there are broader trends.  I don't believe food, guitars, certain wood products, cars, and several other products will be going back down in price after the latest price increases.  Even as markets and other things settle down.  Houses may... but not below the inflated prices of 2017-2018... I might be surprised by that though.

On guitars... we have seen 30-75% increases.  The bulk hitting 50-75%.  But what's the incentive to lower the prices?   Jackson, Ibanez, AND ESP have stopped taking orders to catch up on their current order queue lol.  Their backlog is 2 years now.  We just had windows done... and they had a pretty long backlog to get windows... let alone the prices kept increasing almost weekly.

[CreepinDeth]

Unless you've been living under a rock these past few weeks, crypto has been crashing pretty hard. Apparently prices for GPUs are falling close to, or even below, MSRP. I haven't really done a check to see how the prices are but if you're interested, now might be a good time to buy if you don't care about the upcoming release of new GPUs.

I don't see crypto dying anytime soon but at least we should be getting some reprieve in prices.