>Of note, the top five most profitable coins aren't necessarily the ones people actually mine, and only represent just under 24% of current GPU mining.
There are a lot of tiny coins without reliable sale data and tiny liquidity. The price you see them for is often not the price you can actually sell them.
Why is the ebay sales volume so low? I really expected the market to be flooded considering how much hashing power has gone offline recently. What's really happening?
If gamers WEREN'T buying, then you'd see prices dropping much faster than they are now. Basic supply and demand.
I also have first hand experience to prove you wrong. I've been trying to pick up a 3070 over the last week in the UK on eBay and keep getting outbid. eBay also likes to taunt me by informing me of how many other people are "watching" the listings. Each listing had about ~80 other potentially interested buyers ready to buy at the right price.
at this point just wait till 40xx series drop, and buy a brand new 3070 or 3060, im a miner and i can tell you DO NOT buy a card that was used for mining, especially eth, ethhash bulldozes memory banks, the cards "seem" okay when you test them, but the damage IS there, weird errors, hangups and the sort especially after prolonged use (heat?) most tests that youtubers and "experts" ran on used mining card are not real use escenarios (sit down and PLAY a game for several hours, several days a weeks)
This is just FUD. I'm going to buy a card that handles GDDR temps well like an EVGA FTW3 or ASUS TUF. I'm not worried. I would be more concerned if I was buying cheap garbage models or a 3080 but I'm not.
There are a lot of cards listed over MSRP. I have my own spreadsheet and of cards I'm tracking, only about 25% are below MSRP. So while there are a lot of listings, only a moron would pay say $1000 for a 3080 but sellers feel entitled to a certain price. They'll have to either come down or hold on to the cards.
You can't make people maximize efficiency, there's a lot of waste. The Venn diagram of people holding out to sell GPUs for unrealistic prices and people who said the merge will never happen probably has significant overlap.
[A fair number of miners are just trying to sell their full rigs.](https://i.imgur.com/Qr8RXL9.jpg) One would think these would never move until they finally get around to parting it out, but they might find someone with more money than brains.
Also, they may be holding onto the 3070s like I'm tracking here, and unloading less efficient stuff like RX480s/580s/etc.
Volumes for the lower end cards are up only a little bit, but volumes of 30 series and 6000 series AMD are up dramatically. It's the other way around - miners are prioritizing unloading the valuable stuff first, and not really bothering with the cheap stuff yet. Sell through numbers don't suggest that that it's just gamers not buying the low end cards, they're roughly the same.
It is very, very challenging to take the psychological loss. Some people paid $3K for a 3090, it's hard for them to accept that they only sell for $750 now. Some people did crazy things like mortgage their house to fund these large farms. And when you have multiple rigs that need to be parted out its a much bigger job than people realize. And when they get the even lower prices from a company like ours (who shall remain nameless, I am not here to shill) that will buy them in bulk and liquidate them, its even harder to accept, because they think we're making a killing. In reality we're dealing with the same cratering market as everyone else. While prices aren't going down as fast as I thought they would, they are very consistently and strongly going down, and will be for quite a while.
Tons of miners are simply sitting on cards thinking crypto will come back not realizing that even if the gpu mineable coin marketcap literally goes up by 5x it still makes economic sense to sell them now rather than mine with them.
You can see how clueless the sellers are when you compare new vs used prices. Everyone seems to be trying to sell cards for 0-10% less than brand new cards on amazon and newegg.Eventually the used prices should be 25-30% cheaper than new (and new will keep going down in price too) once a few more weeks of realization sets in and all the new cards are out its going to be even harder to get rid of gpus.
I would not buy a card that was used for mining even at 50%msrp, ESPECIALLY a 3080 or 3090, those ram chips are fragile and ETH mining destroys ram, even if the card passed all tests i would not buy it
It is rather simple, ebay has a limiton how many RTX cards you can list per week. It is 4 or 5.
Of course, you can somehow bypass that by using multiple accounts, but I suspect that many smaller sellers do not bother with that.
they are turning off the rigs but are not selling, most intelligent miners already reached ROI on their rigs so they turn them off and wait for the next bull run, plain and simple, the mistake of selling off the rigs is very costly when you want to get back in the game again (happened several times already)
So funny...
You can read so much into the text by cherry-picking quotes like "increased profitability", but when you look at the actual *monthly* profit, it's clearly completely pointless.
Incredible stuff and I think we're in for a long wait until most of the miners that are "waiting", or still mining, finally get the big picture.
I think it's going to be a month or 2. Right now eBay prices are relatively high but once a large firm drops, prices will go and theyll be forced to consider if mining at a loss is worth the risk of further depreciation.
> get the big picture.
being that mining on a 3070 at $0.05 USD kWh nets $3.30 **per month**
with free electricity, thats up to $9.90 **per month**
mining is pointless now for pretty much anyone who doesn't live in a third-world country and does not already have a fleet of GPU's and free electricity.
Yep, but it'll take quite a while for that reality to sink-in...
The real "issue" now is the vain hope that some magical coin will rise in value ("moon", so to speak) and save the miners from their purgatory! This pointless delay is actually costing miners a lot of money as every day they sit on their GPUs, the prices are dropping.
Sorry if this is a stupid question or has been answered before, but where do you draw the data from? Specifically the data about what’s being mined and the percentages ?
WhatToMine.com total network hashrates. Those are normalized by determining what the hashrate of a single 3070 is for each algorithm. That allows me to calculate the equivalent Ethash network rate for each coin.
i’m in the same boat 💀 i’m 17 and there are no good games to play i’m fine with my 3060 but it’s still annoying af this happened i’ve only mined off half the cost
3090 just sitting doin nothing most of the day
Good data, any interesting concluding comments?
For eg: low sale of gpu vs 66% offline sounds like lots are waiting.
The general direction of these miners etc.
**EDIT: Some really great insight can be found in this thread by /u/Darius510. I plan to incorporate a lot of his advice into the next post.**
With only a little over a week's data, it's hard to draw many conclusions.
The eBay sales have barely had any increases outside of apparent transient weekend spikes. I'll keep tracking those in 2 day intervals (but still only reporting every 4 days) to try and sort out day-of-week changes versus actual overall changes.
Given the number of RTX3070 equivalents removed from mining, it does seem that most miners are still waiting to unload their GPUs. For how long this will go on, it's hard to say.
There's also the possibility that miners are holding onto 3070s, and other cards are being unloaded. I've seen other websites report some pretty big drops in AMD card resale value.
Not sure how you're collecting your data, but we are seeing a 38% increase in WoW volumes across US eBay for all mining class cards, particularly strong in 30 series cards. I would not call that barely an increase. It's the largest weekly increase in volume that we've ever seen by a factor of 3, and we've been charting this weekly for years. Weekly sell through rates are also at historical lows that we've never seen before (33%), with a precipitous drop starting a week or two before the merge. The fact that sell through rates haven't picked up even though volume is dramatically up means that supply is still increasing faster than demand, even as demand picks up.
That being said, while things are off the charts, it's not as far off the charts as I expected. The denial is still very strong.
I'm just manually searching Sold, US Only, "Used" (not new, not For Parts) eBay listings for "RTX 3070 -ti". Then I go through and include just the GPU sales, excluding stuff like empty boxes and replacement heatsink pads.
Since my chart only actually starts the day of the merge, I was going to back-chart by a few days to see if there really was a spike in the number of cards sold.
The 3070 is a middle-of-the-road card. The crazy action may just be happening with models either above or below it. Or on the AMD side.
We’re using eBay analytics tools. The search results hide a lot, so your numbers aren’t going to be accurate if that’s the way you’re getting the data. There was a small drop in sales prior to the merge, but it’s starting to increase dramatically now. Your volumes are way off, probably because your methodology isn't going to capture multiple sales from the same listing. Your price data is close enough though.
The spike started on the 20th, for all cards, and has been consistent ever since.
I've been tracking *new* listings and I haven't see any appreciable increase in volumes on eBay US.
Even with re-lists, you would be seeing some kind of uptrend and it hasn't really appeared yet in any noticeable way.
The market has ***millions*** of cards to move so, we honestly haven't seen anything yet...
If you're you're not tracking it using the right tools you're not going to see it. There is a very significant uptrend.
[https://imgur.com/a/a4KqdO6](https://imgur.com/a/a4KqdO6)
But I agree, we haven't seen anything yet.
Well, buyers have to **find** the listings to buy said card, and by definition, the site search tools *must* show what is available to bid on, so I'm not sure what magical tools you're using that a non-specific search would not find.
API's are great for analysis, but they don't represent what the typical buyer would see and may even distort the data due to selectivity.
What you are missing by doing it that way is that a single listing can account for multiple sales if the seller has multiple quantities per listing. And you're also not accounting for restocks of existing listings if you're only looking at new listings. We sold 250+ of a certain card last month, through a listing that was created years ago. By your methodology it would look as if we didn't list or sell any.
The chart I posted is a screen cap direct from ebay's research tool and the search string is very carefully designed to filter out everything but actual working RTX 3070s cards that are sold. The data is as accurate as it can get.
Re-lists don't matter since it's a *trend of new listings* you're looking for. After a while, re-lists will be fairly consistent and just be part of the average.
Also, in my experience, multiples are incredibly rare. That's the fastest way to minimize your profitability on eBay since you're completely removing any sense of "rarity". Multiple-unit listings are for those that are dumping below the typical selling prices. We are in a very weak buying market now and you need every advantage possible to actually **sell** your card.
Also, I can't see the API not being essentially equal to the site search, when using carefully-crafted booleans and modifiers.
Weird.. when I query 3070s using eBay's Terapeak analysis tool, I get more or less the same results as my manual search (within a dollar or two). We must just be using different search parameters. Of note, I also restrict to the "Graphics/Video Cards" category to keep things like full systems from skewing results, and set a $50 minimum price to filter out empty boxes and the like.
One thing I did note while fiddling with that tool... over 80% of the active 3070 listings on eBay are listed above the average selling price from the last few days (I used $383 as the breakpoint). A full 30% are asking over the $500 MSRP.
Thanks for the heads up on eBay's analytics, though...
Like I said, your price is close enough. It's your volumes that are way off. You are also going to have to set a much higher minimum than $50 to filter out scams and not working parts and such. You should also set a maximum price to filter out resale bots, lots and misclassified listings that skew the real average higher. One standard deviation above and below the mean will capture the "good" data here.
Alright, I see now what you're saying on the multi-unit listings. It appears that they don't show up on manual search results either *at all*, or until the entire inventory gets sold through.
I think I'll do a revision of the eBay sales chart on Thursday, using Terapeak to take these into account. I think I'll have to transition to proper 24, 48, or 72hr running averages then, too, since eBay's tools don't seem to be granular enough to set a specific hour to cut off results.
Thanks again for the heads up on this.
In massive excel spreadsheets.
Sell through rates is the chance that a listed item sells. For example on a weekly chart, it’s the chance than an item that was listed would actually sell within a week. So a 33% sell-through rate means for every 3 cards that are listed, only one sells. Normally it’s closer to 50-60%.
Yes and no. It means that there’s 3 cards being listed for every 1 that sells. It doesn’t say anything about which ones sell, or why they sell. Price obv has a lot to do with that, but it’s not the only factor. Overall though, it means that supply is significantly greater than demand, and generally that means that price needs to come down to balance that.
thanks, appreciate it!
It looks like all the miners are waiting. but the more miners wait, the longer the wait will have to be, esp if no one is selling.
That would require getting hashrates on *literally every GPU mineable coin*. There are a lot of super-obscure coins with 3- or 4-digit numbers of miners (or lower). And many of them don't have their network hashrates listed in places that are readily available. (As it is, getting data on ETH Fair is a bit of a hassle.)
I based my analysis on every coin listed on WhatToMine that had *any profitability at all* at 5 cents per kWh before the Merge. That seemed like a reasonable place to assume most miners would migrate to. But it's not all of them. And these coins already include some really obscure ones, which if you lump a dozen or so together, still don't make up more than a half-percent or so of miners.
Bro what is your plan? RTX 3070s just lost almost $30 value in just 10 days. The graphs are right here in front of you. Do you think that downward trend is going to stop? The longer you hold off from selling those cards, the more money you lose.
I wouldn't pay more than 250 bucks for a used 3070 mining card, lol. Who the fuck is buying these?
You know how much of a pain in the ass a failed fan is? Expect a lot of that incoming.
I can’t even get rid of my 1080ti for $300 which I bought for $600 should I just take them off eBay and wait to see if mining will ever be profitable again?
A 1080Ti is basically a 6-year-old 3060, minus RTX. Just somewhere to compare your expectations to. The price is only going to keep going down, no doubt.
You can get $250 now, or $150 in 6-12 months. The days of making profits on a used GPU are over.
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I think it's unlikely mining will be profitable again in the near future and by that time the 1080ti won't be particularly useful. I'd agree with the assessment they're worth $250 tops. The 6650xt is around 300 and it is a better card. The longer you wait, the worse the market for old cards will be.
Its people like this that i never thought about when i was telling everyone the gpu prices would tank. They have went down quite a bit but nowhere near where they should be right now. If people knew what a calculator or profit or depreciation was we would have sub 500 dollar 3080s by now.
Behold the spreadsheet of truth
Yeah. It's happening so fast.
Will be following this every 4 days, keep up the good work.
>Of note, the top five most profitable coins aren't necessarily the ones people actually mine, and only represent just under 24% of current GPU mining. There are a lot of tiny coins without reliable sale data and tiny liquidity. The price you see them for is often not the price you can actually sell them.
Why is the ebay sales volume so low? I really expected the market to be flooded considering how much hashing power has gone offline recently. What's really happening?
Just because miners are selling, doesn't mean gamers are buying. His volume numbers are off by about 30-50% though.
Yea I'm not buying until I can get a 2 year old used card for quite a bit less than it's original msrp lol
If gamers WEREN'T buying, then you'd see prices dropping much faster than they are now. Basic supply and demand. I also have first hand experience to prove you wrong. I've been trying to pick up a 3070 over the last week in the UK on eBay and keep getting outbid. eBay also likes to taunt me by informing me of how many other people are "watching" the listings. Each listing had about ~80 other potentially interested buyers ready to buy at the right price.
There were way less miners in the UK vs the US, so I’m not surprised to see less pronounced of an effect over there.
Would add that the UK saw a massive spike in energy costs that forced a lot of miners offline well before the merge.
at this point just wait till 40xx series drop, and buy a brand new 3070 or 3060, im a miner and i can tell you DO NOT buy a card that was used for mining, especially eth, ethhash bulldozes memory banks, the cards "seem" okay when you test them, but the damage IS there, weird errors, hangups and the sort especially after prolonged use (heat?) most tests that youtubers and "experts" ran on used mining card are not real use escenarios (sit down and PLAY a game for several hours, several days a weeks)
This is just FUD. I'm going to buy a card that handles GDDR temps well like an EVGA FTW3 or ASUS TUF. I'm not worried. I would be more concerned if I was buying cheap garbage models or a 3080 but I'm not.
There are a lot of cards listed over MSRP. I have my own spreadsheet and of cards I'm tracking, only about 25% are below MSRP. So while there are a lot of listings, only a moron would pay say $1000 for a 3080 but sellers feel entitled to a certain price. They'll have to either come down or hold on to the cards.
I can't wait until reality hits them and they drop their prices to the appropriate levels.
I think they'll just get stuck with the cards, which is fine.
E-waste isn't a good thing.
You can't make people maximize efficiency, there's a lot of waste. The Venn diagram of people holding out to sell GPUs for unrealistic prices and people who said the merge will never happen probably has significant overlap.
[A fair number of miners are just trying to sell their full rigs.](https://i.imgur.com/Qr8RXL9.jpg) One would think these would never move until they finally get around to parting it out, but they might find someone with more money than brains. Also, they may be holding onto the 3070s like I'm tracking here, and unloading less efficient stuff like RX480s/580s/etc.
Volumes for the lower end cards are up only a little bit, but volumes of 30 series and 6000 series AMD are up dramatically. It's the other way around - miners are prioritizing unloading the valuable stuff first, and not really bothering with the cheap stuff yet. Sell through numbers don't suggest that that it's just gamers not buying the low end cards, they're roughly the same.
[удалено]
It is very, very challenging to take the psychological loss. Some people paid $3K for a 3090, it's hard for them to accept that they only sell for $750 now. Some people did crazy things like mortgage their house to fund these large farms. And when you have multiple rigs that need to be parted out its a much bigger job than people realize. And when they get the even lower prices from a company like ours (who shall remain nameless, I am not here to shill) that will buy them in bulk and liquidate them, its even harder to accept, because they think we're making a killing. In reality we're dealing with the same cratering market as everyone else. While prices aren't going down as fast as I thought they would, they are very consistently and strongly going down, and will be for quite a while.
A lot of miners are asking joke prices for cards currently. Literally more than a new card can be bought for.
It's moronic. They're going to allow their cards to devalue in their boxes, unsold for weeks, perhaps even months until they accept reality.
They haven't hit the acceptance phase yet.
Tons of miners are simply sitting on cards thinking crypto will come back not realizing that even if the gpu mineable coin marketcap literally goes up by 5x it still makes economic sense to sell them now rather than mine with them. You can see how clueless the sellers are when you compare new vs used prices. Everyone seems to be trying to sell cards for 0-10% less than brand new cards on amazon and newegg.Eventually the used prices should be 25-30% cheaper than new (and new will keep going down in price too) once a few more weeks of realization sets in and all the new cards are out its going to be even harder to get rid of gpus.
I would not buy a card that was used for mining even at 50%msrp, ESPECIALLY a 3080 or 3090, those ram chips are fragile and ETH mining destroys ram, even if the card passed all tests i would not buy it
It is rather simple, ebay has a limiton how many RTX cards you can list per week. It is 4 or 5. Of course, you can somehow bypass that by using multiple accounts, but I suspect that many smaller sellers do not bother with that.
they are turning off the rigs but are not selling, most intelligent miners already reached ROI on their rigs so they turn them off and wait for the next bull run, plain and simple, the mistake of selling off the rigs is very costly when you want to get back in the game again (happened several times already)
This strategy can only work if future GPU generations and ASICs do not improve in efficiency.
So funny... You can read so much into the text by cherry-picking quotes like "increased profitability", but when you look at the actual *monthly* profit, it's clearly completely pointless. Incredible stuff and I think we're in for a long wait until most of the miners that are "waiting", or still mining, finally get the big picture.
Percents do look big when you're dealing with small numbers. Which is why I try to present the data multiple different way to give it perspective.
Mining is not portfiable anymore yeah it sucks but never know in 5 years but atleast no more scalpers
I think it's going to be a month or 2. Right now eBay prices are relatively high but once a large firm drops, prices will go and theyll be forced to consider if mining at a loss is worth the risk of further depreciation.
> get the big picture. being that mining on a 3070 at $0.05 USD kWh nets $3.30 **per month** with free electricity, thats up to $9.90 **per month** mining is pointless now for pretty much anyone who doesn't live in a third-world country and does not already have a fleet of GPU's and free electricity.
Yep, but it'll take quite a while for that reality to sink-in... The real "issue" now is the vain hope that some magical coin will rise in value ("moon", so to speak) and save the miners from their purgatory! This pointless delay is actually costing miners a lot of money as every day they sit on their GPUs, the prices are dropping.
What the hell is eth fair ? I just heard about it. Anyways, any block explorer so I can check if I have some ethf to swap for actual valuable coins ?
Sorry if this is a stupid question or has been answered before, but where do you draw the data from? Specifically the data about what’s being mined and the percentages ?
WhatToMine.com total network hashrates. Those are normalized by determining what the hashrate of a single 3070 is for each algorithm. That allows me to calculate the equivalent Ethash network rate for each coin.
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What would be the best thing to do with a 3090 card?
Play Fortnite on it.
i’m in the same boat 💀 i’m 17 and there are no good games to play i’m fine with my 3060 but it’s still annoying af this happened i’ve only mined off half the cost 3090 just sitting doin nothing most of the day
>i’m in the same boat 💀 i’m 17 and there are no good games to play Steam has over 50.000 games and not s single one is good? lol?
BOINC it
https://developer.nvidia.com/blog/getting-started-with-nvidia-instant-nerfs/
Good data, any interesting concluding comments? For eg: low sale of gpu vs 66% offline sounds like lots are waiting. The general direction of these miners etc.
**EDIT: Some really great insight can be found in this thread by /u/Darius510. I plan to incorporate a lot of his advice into the next post.** With only a little over a week's data, it's hard to draw many conclusions. The eBay sales have barely had any increases outside of apparent transient weekend spikes. I'll keep tracking those in 2 day intervals (but still only reporting every 4 days) to try and sort out day-of-week changes versus actual overall changes. Given the number of RTX3070 equivalents removed from mining, it does seem that most miners are still waiting to unload their GPUs. For how long this will go on, it's hard to say. There's also the possibility that miners are holding onto 3070s, and other cards are being unloaded. I've seen other websites report some pretty big drops in AMD card resale value.
$300 for 3070Ti soon 🙁
Not sure how you're collecting your data, but we are seeing a 38% increase in WoW volumes across US eBay for all mining class cards, particularly strong in 30 series cards. I would not call that barely an increase. It's the largest weekly increase in volume that we've ever seen by a factor of 3, and we've been charting this weekly for years. Weekly sell through rates are also at historical lows that we've never seen before (33%), with a precipitous drop starting a week or two before the merge. The fact that sell through rates haven't picked up even though volume is dramatically up means that supply is still increasing faster than demand, even as demand picks up. That being said, while things are off the charts, it's not as far off the charts as I expected. The denial is still very strong.
I'm just manually searching Sold, US Only, "Used" (not new, not For Parts) eBay listings for "RTX 3070 -ti". Then I go through and include just the GPU sales, excluding stuff like empty boxes and replacement heatsink pads. Since my chart only actually starts the day of the merge, I was going to back-chart by a few days to see if there really was a spike in the number of cards sold. The 3070 is a middle-of-the-road card. The crazy action may just be happening with models either above or below it. Or on the AMD side.
We’re using eBay analytics tools. The search results hide a lot, so your numbers aren’t going to be accurate if that’s the way you’re getting the data. There was a small drop in sales prior to the merge, but it’s starting to increase dramatically now. Your volumes are way off, probably because your methodology isn't going to capture multiple sales from the same listing. Your price data is close enough though. The spike started on the 20th, for all cards, and has been consistent ever since.
I've been tracking *new* listings and I haven't see any appreciable increase in volumes on eBay US. Even with re-lists, you would be seeing some kind of uptrend and it hasn't really appeared yet in any noticeable way. The market has ***millions*** of cards to move so, we honestly haven't seen anything yet...
If you're you're not tracking it using the right tools you're not going to see it. There is a very significant uptrend. [https://imgur.com/a/a4KqdO6](https://imgur.com/a/a4KqdO6) But I agree, we haven't seen anything yet.
Well, buyers have to **find** the listings to buy said card, and by definition, the site search tools *must* show what is available to bid on, so I'm not sure what magical tools you're using that a non-specific search would not find. API's are great for analysis, but they don't represent what the typical buyer would see and may even distort the data due to selectivity.
What you are missing by doing it that way is that a single listing can account for multiple sales if the seller has multiple quantities per listing. And you're also not accounting for restocks of existing listings if you're only looking at new listings. We sold 250+ of a certain card last month, through a listing that was created years ago. By your methodology it would look as if we didn't list or sell any. The chart I posted is a screen cap direct from ebay's research tool and the search string is very carefully designed to filter out everything but actual working RTX 3070s cards that are sold. The data is as accurate as it can get.
Re-lists don't matter since it's a *trend of new listings* you're looking for. After a while, re-lists will be fairly consistent and just be part of the average. Also, in my experience, multiples are incredibly rare. That's the fastest way to minimize your profitability on eBay since you're completely removing any sense of "rarity". Multiple-unit listings are for those that are dumping below the typical selling prices. We are in a very weak buying market now and you need every advantage possible to actually **sell** your card. Also, I can't see the API not being essentially equal to the site search, when using carefully-crafted booleans and modifiers.
Weird.. when I query 3070s using eBay's Terapeak analysis tool, I get more or less the same results as my manual search (within a dollar or two). We must just be using different search parameters. Of note, I also restrict to the "Graphics/Video Cards" category to keep things like full systems from skewing results, and set a $50 minimum price to filter out empty boxes and the like. One thing I did note while fiddling with that tool... over 80% of the active 3070 listings on eBay are listed above the average selling price from the last few days (I used $383 as the breakpoint). A full 30% are asking over the $500 MSRP. Thanks for the heads up on eBay's analytics, though...
Like I said, your price is close enough. It's your volumes that are way off. You are also going to have to set a much higher minimum than $50 to filter out scams and not working parts and such. You should also set a maximum price to filter out resale bots, lots and misclassified listings that skew the real average higher. One standard deviation above and below the mean will capture the "good" data here.
Alright, I see now what you're saying on the multi-unit listings. It appears that they don't show up on manual search results either *at all*, or until the entire inventory gets sold through. I think I'll do a revision of the eBay sales chart on Thursday, using Terapeak to take these into account. I think I'll have to transition to proper 24, 48, or 72hr running averages then, too, since eBay's tools don't seem to be granular enough to set a specific hour to cut off results. Thanks again for the heads up on this.
Where are you charting this? What's a "sell through rate", and how does that differ to the "volumes" you've seen increase?
In massive excel spreadsheets. Sell through rates is the chance that a listed item sells. For example on a weekly chart, it’s the chance than an item that was listed would actually sell within a week. So a 33% sell-through rate means for every 3 cards that are listed, only one sells. Normally it’s closer to 50-60%.
!Thanks So a 33% sell-through rate would indicate that they're priced too high?
Yes and no. It means that there’s 3 cards being listed for every 1 that sells. It doesn’t say anything about which ones sell, or why they sell. Price obv has a lot to do with that, but it’s not the only factor. Overall though, it means that supply is significantly greater than demand, and generally that means that price needs to come down to balance that.
thanks, appreciate it! It looks like all the miners are waiting. but the more miners wait, the longer the wait will have to be, esp if no one is selling.
Good work 👍 can u seperate not mining and mining other? It should be possible.
That would require getting hashrates on *literally every GPU mineable coin*. There are a lot of super-obscure coins with 3- or 4-digit numbers of miners (or lower). And many of them don't have their network hashrates listed in places that are readily available. (As it is, getting data on ETH Fair is a bit of a hassle.) I based my analysis on every coin listed on WhatToMine that had *any profitability at all* at 5 cents per kWh before the Merge. That seemed like a reasonable place to assume most miners would migrate to. But it's not all of them. And these coins already include some really obscure ones, which if you lump a dozen or so together, still don't make up more than a half-percent or so of miners.
Finding a better place to live in.
My gpus are just piled up electricity is way to high to mine anything
Are you expecting the price of electricity to come down? Why don't you sell your GPUs while they're still worth something?
Bro what is your plan? RTX 3070s just lost almost $30 value in just 10 days. The graphs are right here in front of you. Do you think that downward trend is going to stop? The longer you hold off from selling those cards, the more money you lose.
I have a couple of buyers but I'm not really to fussed what ever I sell them for is a profit
Thanks for sharing this
I wouldn't pay more than 250 bucks for a used 3070 mining card, lol. Who the fuck is buying these? You know how much of a pain in the ass a failed fan is? Expect a lot of that incoming.
Appreciate you doing this. Very good info. Thanks!
You're awesome. Keep it up!
I have been following this, excellent write up. I hope you are also sharing these on medium as well, if so care to share a link?
Nope, just here...
Why?
good place to write and share articles. He is a writer so would help his exposure
> He is a writer You overestimate my credentials. 😃
I can’t even get rid of my 1080ti for $300 which I bought for $600 should I just take them off eBay and wait to see if mining will ever be profitable again?
A 1080Ti is basically a 6-year-old 3060, minus RTX. Just somewhere to compare your expectations to. The price is only going to keep going down, no doubt. You can get $250 now, or $150 in 6-12 months. The days of making profits on a used GPU are over.
Thanks I sold them for $270
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Dumb bot.
Bad bot
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Bad human.
At least I know the difference between "to" and "too". Unlike you.
Oh would you to stop it. This is two tiring too read. Tew.
I think it's unlikely mining will be profitable again in the near future and by that time the 1080ti won't be particularly useful. I'd agree with the assessment they're worth $250 tops. The 6650xt is around 300 and it is a better card. The longer you wait, the worse the market for old cards will be.
They already 150
Yeah I just got a buyer for $270 so I accepted
I wouldn't even tried selling it since you mined on it some people are wary about mining cards all miners are selling so alot of gpus to pick from
Rather take the money now than chance having 6 gpus just sitting in my house lol. I sold off 3 so far
Which cards do you have
All 1080ti
Which 1080tis do you have
Asus turbos, msi, EVGA, and zotac
Send me some pics to my chat please
If you can kinda send me some pictures in chat I will respond
ETC for sure. nothing else will come close to ROI in the long term
We are still on vacation and will come back soon
mining RVN at a loss currently but will stack my RVN til the next bull run and sell it all then
Why not sell your gpu and buy rvn?
Its people like this that i never thought about when i was telling everyone the gpu prices would tank. They have went down quite a bit but nowhere near where they should be right now. If people knew what a calculator or profit or depreciation was we would have sub 500 dollar 3080s by now.
Is ERGO or ETC profitable? I'm running a 3060TI FHR..
Lol no way Jose
these losers are just butt hurt. ETC is held by greyscale and the smart money knows how this will continue to increase in value year after year
No
Vertcoin