It's not crypto miners anymore. It's supply shortages.
Really?
Supplies are starting to ease up, but still no where near general availability. Prices are still going at around 2x MSRP - the RX6900 being the closest thing to retail price, ~only~ marked up around 30-40% on average.
nVidia did just post that their crypto-only cards sales were disappointing. I don't believe that's because miners aren't buying them - I think that's because they are buying regular graphics cards instead.
My XFX R9 270x I bought at bestbuy in 2013 died a while ago. I was ready to sell it for parts when I noticed the lifetime warranty label on the box. Long story short, I still had the recipt and regestered it the same day I bought it. Logged into my XFX support accound and they actually RMA it. My R9 just got replaced with a referbed RX-470 8gb card which i literally received today after almost 6 months with on-board video.
Thats some mighty fine customer service. If I ever buy new again I'll definitely buy XFX. If cards were more affordable and obtainable I would have had to spring for a new one. These guys saved me a bundle.
At the same price, miners would prefer a normal GPU over a mining one. When cryptocurrency prices crash so that mining is unprofitable, pure mining GPUs will be worthless. Normal GPUs could still be resold on Ebay.
When the miners are no longer interested in GPUs, prices will crater quickly as the miners sell off their old stock. This has happened before and it will happen again. The problem is huge demand from miners, not a lack of supply.
Besides, supply has been going up. In addition to using the Samsung 8 nm node, for RTX 3000 series cards, Nvidia has resumed production of RTX 2000 series cards on the TSMC 12 nm node. Meanwhile, Intel is promising to bring four million discrete GPUs to market this year, in addition to the usual supplies from AMD and Nvidia.
Something about Eth hitting proof of stake and no longer being mineable?
At some point, Ethereum was going to go proof of stake in 2020. It has been delayed several times since then. At this point, you should assume that Ethereum will remain proof of work forever until proven otherwise.
My XFX R9 270x I bought at bestbuy in 2013 died a while ago. I was ready to sell it for parts when I noticed the lifetime warranty label on the box. Long story short, I still had the recipt and regestered it the same day I bought it. Logged into my XFX support accound and they actually RMA it. My R9 just got replaced with a referbed RX-470 8gb card which i literally received today after almost 6 months with on-board video.
Thats some mighty fine customer service. If I ever buy new again I'll definitely buy XFX. If cards were more affordable and obtainable I would have had to spring for a new one. These guys saved me a bundle.
I'm glad that that worked out great for you. They can offer the lifetime warranty in part because hardly anyone will take advantage of it this far out. Most people who have an eight year old video card die will want to replace it by something much faster and not be interested in warranty service. Of course, the last year and change hasn't been normal times for video cards.
The card they gave you is probably a card that someone else sent back as defective. They either repaired it or decided that it was fine or some such. So it's not as good as having an actual new card, but it's still a lot better than being stuck with a dead one.
Something about Eth hitting proof of stake and no longer being mineable?
At some point, Ethereum was going to go proof of stake in 2020. It has been delayed several times since then. At this point, you should assume that Ethereum will remain proof of work forever until proven otherwise.
It seems they got over the hurdles that caused the delay, one can only hope yes since this would be good for those us us wanting gpu's for gaming etc.
My XFX R9 270x I bought at bestbuy in 2013 died a while ago. I was ready to sell it for parts when I noticed the lifetime warranty label on the box. Long story short, I still had the recipt and regestered it the same day I bought it. Logged into my XFX support accound and they actually RMA it. My R9 just got replaced with a referbed RX-470 8gb card which i literally received today after almost 6 months with on-board video.
Thats some mighty fine customer service. If I ever buy new again I'll definitely buy XFX. If cards were more affordable and obtainable I would have had to spring for a new one. These guys saved me a bundle.
I'm glad that that worked out great for you. They can offer the lifetime warranty in part because hardly anyone will take advantage of it this far out. Most people who have an eight year old video card die will want to replace it by something much faster and not be interested in warranty service. Of course, the last year and change hasn't been normal times for video cards.
The card they gave you is probably a card that someone else sent back as defective. They either repaired it or decided that it was fine or some such. So it's not as good as having an actual new card, but it's still a lot better than being stuck with a dead one.
Yeah, its definitely used/referbed. But the best thing is my lifetime warranty still applies to this replacement video card as well. The model and serial are already regestered alongside my old card so if this ones dies in a few years I can still get it replaced with something equal, or better according to the terms of the warranty.
RX-470 8GB is a pretty nice upgrade over an R9270X so I couldn't be more happy with how it worked out. Only cost me the 20$ for shipping.
My PC is pushing 7 years I am so worried it is going to up and die and then I am going to go nuts about the graphic card prices. Hope this drop is there when I need it.
My XFX R9 270x I bought at bestbuy in 2013 died a while ago. I was ready to sell it for parts when I noticed the lifetime warranty label on the box. Long story short, I still had the recipt and regestered it the same day I bought it. Logged into my XFX support accound and they actually RMA it. My R9 just got replaced with a referbed RX-470 8gb card which i literally received today after almost 6 months with on-board video.
Thats some mighty fine customer service. If I ever buy new again I'll definitely buy XFX. If cards were more affordable and obtainable I would have had to spring for a new one. These guys saved me a bundle.
I had the same experience with xfx some years ago. When my card died it was no longer in production, so they sent me a model that was even better than what I had.
My PC is pushing 7 years I am so worried it is going to up and die and then I am going to go nuts about the graphic card prices. Hope this drop is there when I need it.
Yeah, 7 years is about the mark I have to rebuild. I usually go 1 step right under bleeding edge cards and processors(very high performance, but not the absolute best, but second best in categories)..
Apparently according to some youtubers the prices of gpu should be dropping starting in june or so and get better from then one or somesuch.
Something about Eth hitting proof of stake and no longer being mineable?
Actually, it is already happening. Maybe not everywhere yet, but the trend is now turning downwards.
My local store has lowered the prices by 30-50% on some of the cards in the past couple of months and you can now get even a brand new 3080 Ti for less than 2 grand. Back in November it was selling for around 2800.
Just a small sample of the current prices (unnecessary details and descriptions removed). All cards (except 3090 Ti) are available within 24 - 72 hours.
The store did put a restriction on the new cards about a year - 18 months ago and they were only selling them as part of new rigs. No individual sales of the cards - you had to order a whole PC to get one of them. I suppose that helped with the availability a bit - they always had these new cards available in the past 18 months, no shortage there. Only the price was too steep. Now at last the prices are starting to get back towards a semblance of normality.
I've had my current machine since 2014 (only having replaced my original AMD 295x2 that died two years ago), so once the new generation of CPUs, GPUs, MBs, DDR5s, etc. hit the shelves at the end of this year, I will be ready.
Five years ago, I thought that by now, we would be laughing that there once were cryptos that involved mining (PoW). Yet here we are in another bull run (which happens once every 4 years in case anyone here likes money) and the asset with the worst tech (BTC) out of all couple thousand in existence still leads the pack followed by none other than another PoW attrocity - Ethereum.
It doesnt seem they are losing steam either. Now even institutions are starting to buy into this "model T" (1st Ford car reference) of crypto called Bitcoin.
There are many digital assets not relying on mining and with close to no energy consumption. I dont even mention they are faster, more scalable in terms of TPS and have cheaper transactions.
Thats what you get in a world driven by greed instead of logic.
I think the crypto market crash is coming. There just has been way too many whales dumping their positions the last year. Eventually, the new money flowing in is going to run out. I find it really sad that so many younger investors are being duped out of their hard-earned money. There are a ton of online influences trying to push new money in cryptos right now. I really do think a crash is coming.
Five years ago, I thought that by now, we would be laughing that there once were cryptos that involved mining (PoW). Yet here we are in another bull run (which happens once every 4 years in case anyone here likes money) and the asset with the worst tech (BTC) out of all couple thousand in existence still leads the pack followed by none other than another PoW attrocity - Ethereum.
It doesnt seem they are losing steam either. Now even institutions are starting to buy into this "model T" (1st Ford car reference) of crypto called Bitcoin.
There are many digital assets not relying on mining and with close to no energy consumption. I dont even mention they are faster, more scalable in terms of TPS and have cheaper transactions.
Thats what you get in a world driven by greed instead of logic.
I think the crypto market crash is coming. There just has been way too many whales dumping their positions the last year. Eventually, the new money flowing in is going to run out. I find it really sad that so many younger investors are being duped out of their hard-earned money. There are a ton of online influences trying to push new money in cryptos right now. I really do think a crash is coming.
Sure, it's coming eventually. Something that cannot go on forever will not. But the real question is when.
I'm now leaning toward saying that the crash will come sooner rather than later. The United States is now in its worst bout of inflation in about 40 years. That could also be taken as saying that the US had kept inflation in check quite well for a little shy of 40 years.
But inflation is something that really shouldn't just be ignored. There's no limit to how bad it can get if you ignore it. The fed will have to tighten the money supply to clamp down on inflation, and ideally, that happens very soon. The fed realizes this, which is why we'll see a considerable increase in the interest rate unless political interference prevents it.
It's likely to bring a recession when they do clamp down on the money supply. A quick recession isn't really a bad thing if the alternative to have a stagnant economy with high inflation for the foreseeable future that still requires a sharp recession to end it. But a recession will mean a lot of people needing to pull money out of cryptocurrencies and not so much spare money available to be put into them.
If nothing else, tightening the money supply will mean a lot less money floating around, and that will mean a lot less money for people to throw at mined cryptocurrencies.
omg! I was about to make the same post. I turned on my computer this morning to see vertical stripes down my screen. After some testing I decided it wasn't the monitor but the video card.
Ok, no problem I'll just buy a new one.
I can't find a decent-priced card anywhere unless I want to pay over $600 US. I was hoping for a GeForce RTX 3060TI ~$400.
But I can't find a thing anywhere.
How are people buying their cards?
I think most gamers are just really hoping that their current video card keeps working. If mine were to die, I'd salvage the old Fury X from my previous desktop and put it in the new one.
I wonder at what point PC gamers will simply have to adjust their budgets to the new price points.
How long has crypto been squeezing graphics card markets for how long now? About a decade?
omg! I was about to make the same post. I turned on my computer this morning to see vertical stripes down my screen. After some testing I decided it wasn't the monitor but the video card.
Ok, no problem I'll just buy a new one.
I can't find a decent-priced card anywhere unless I want to pay over $600 US. I was hoping for a GeForce RTX 3060TI ~$400.
But I can't find a thing anywhere.
How are people buying their cards?
I think most gamers are just really hoping that their current video card keeps working. If mine were to die, I'd salvage the old Fury X from my previous desktop and put it in the new one.
I wonder at what point PC gamers will simply have to adjust their budgets to the new price points.
How long has crypto been squeezing graphics card markets for how long now? About a decade?
Yes, prices have gone nuts since about the start of 2021, though they're on the downswing now. Video cards were also scarce for about the first half of 2017. But there was also a period of about 2 1/2 years from mid-2018 until the end of 2020 where miners generally weren't buying video cards and left the market alone. There were also spikes from previous mining runs in 2011 and 2014, but they both ended when prices dropped--and miners flooded the market with used cards that had previously been used for mining.
Of course, while mining isn't the only huge shock to the system that is possible. Remember when hard drive prices went nuts due to flooding in Thailand that shut down a large fraction of the world's production? If China invades Taiwan and TSMC's foundries get damaged, we'll see crazy prices on most computer parts that last for several years.
This Spring ASUS will lower prices on it’s GeForce RTX™ 30-Series Graphic Cards
Fremont, California (March 28, 2022) — As a result of the latest tariff lift on Chinese imports from the Office of the United States Trade Representative, Gamers and PC enthusiasts will see lower prices on ASUS GeForce RTX™ 30-series graphic cards starting on April 1st, 2022. ASUS is among the first to pass these savings on to its consumers. Lower prices will affect entry level GeForce RTX 3050 and RTX 3060, mid-range RTX 3070 and high performance RTX 3080 and RTX 3090 graphics cards. Consumers should expect prices to decline up to 25% on different models throughout the springtime.
About ASUS
ASUS is a global technology leader that provides the world’s most innovative and intuitive devices, components and solutions to deliver incredible experiences that enhance the lives of people everywhere. With its team of 5,000 in-house R&D experts, ASUS is world-renowned for continuously reimagining today’s technologies for tomorrow, garners more than 11 awards every day for quality, innovation and design, and is ranked among Fortune’s World’s Most Admired Companies.
Here's a different link of the first one looks too shady to some of you.
Neat! I don't see anything about how much the prices will be lowered though. "Our latest ASUS ROG STRIX 3050, previously $499.99 MSRP now $479.99!!!" Thank us later. "
Look again:
Consumers should expect prices to decline up to 25% on different models throughout the springtime
@grymmoire nothing fishy about as it seems to line up with other sources/speculation about gpu prices coming down for several various reasons.
Brenics ~ Just to point out I do believe Chris Roberts is going down as the man who cheated backers and took down crowdfunding for gaming.
Consumers should expect prices to decline up to 25% on different models throughout the springtime
@grymmoire nothing fishy about as it seems to line up with other sources/speculation about gpu prices coming down for several various reasons.
Assuming you can find them in stock, at their MSRP.
Cards still aren't down to MSRP in most cases -- with the exception of the 3080Ti (which had a pretty steep MSRP in the first place, given that it released after a lot of this inflation occurred)
Consumers should expect prices to decline up to 25% on different models throughout the springtime
@grymmoire nothing fishy about as it seems to line up with other sources/speculation about gpu prices coming down for several various reasons.
Assuming you can find them in stock, at their MSRP.
Cards still aren't down to MSRP in most cases -- with the exception of the 3080Ti (which had a pretty steep MSRP in the first place, given that it released after a lot of this inflation occurred)
Thing is since all this shortage/crytpo shite has started it has been almost impossible to order cards online in Canada...most places known for online shopping other than newegg/amazon have been selling in store only.....places like memex/canadacomputers etc
They now have been on and off opening online shipping which means stocks are coming back to normal or they are wanting to get rid of stock before prices drop.
I know this may be different in the USA but for places like canada this is really good news.
I would like to point out no one said prices would be back to msrp either but 60$ only over msrp...frigging sign me up!
Here a recent memex sale in Canada and it was available for purchase online, I don't think you have any idea how long we haven't seen this here up north. Say rather 1k$ CDN and you have to get it in store if lucky.......but now briefly online:
Comments
Supplies are starting to ease up, but still no where near general availability. Prices are still going at around 2x MSRP - the RX6900 being the closest thing to retail price, ~only~ marked up around 30-40% on average.
nVidia did just post that their crypto-only cards sales were disappointing. I don't believe that's because miners aren't buying them - I think that's because they are buying regular graphics cards instead.
Brenics ~ Just to point out I do believe Chris Roberts is going down as the man who cheated backers and took down crowdfunding for gaming.
Thats some mighty fine customer service. If I ever buy new again I'll definitely buy XFX. If cards were more affordable and obtainable I would have had to spring for a new one. These guys saved me a bundle.
When the miners are no longer interested in GPUs, prices will crater quickly as the miners sell off their old stock. This has happened before and it will happen again. The problem is huge demand from miners, not a lack of supply.
Besides, supply has been going up. In addition to using the Samsung 8 nm node, for RTX 3000 series cards, Nvidia has resumed production of RTX 2000 series cards on the TSMC 12 nm node. Meanwhile, Intel is promising to bring four million discrete GPUs to market this year, in addition to the usual supplies from AMD and Nvidia.
The card they gave you is probably a card that someone else sent back as defective. They either repaired it or decided that it was fine or some such. So it's not as good as having an actual new card, but it's still a lot better than being stuck with a dead one.
Brenics ~ Just to point out I do believe Chris Roberts is going down as the man who cheated backers and took down crowdfunding for gaming.
Yeah, its definitely used/referbed. But the best thing is my lifetime warranty still applies to this replacement video card as well. The model and serial are already regestered alongside my old card so if this ones dies in a few years I can still get it replaced with something equal, or better according to the terms of the warranty.
RX-470 8GB is a pretty nice upgrade over an R9270X so I couldn't be more happy with how it worked out. Only cost me the 20$ for shipping.
https://biturl.top/rU7bY3
Beyond the shadows there's always light
My local store has lowered the prices by 30-50% on some of the cards in the past couple of months and you can now get even a brand new 3080 Ti for less than 2 grand. Back in November it was selling for around 2800.
Just a small sample of the current prices (unnecessary details and descriptions removed). All cards (except 3090 Ti) are available within 24 - 72 hours.
The store did put a restriction on the new cards about a year - 18 months ago and they were only selling them as part of new rigs. No individual sales of the cards - you had to order a whole PC to get one of them. I suppose that helped with the availability a bit - they always had these new cards available in the past 18 months, no shortage there. Only the price was too steep. Now at last the prices are starting to get back towards a semblance of normality.
I've had my current machine since 2014 (only having replaced my original AMD 295x2 that died two years ago), so once the new generation of CPUs, GPUs, MBs, DDR5s, etc. hit the shelves at the end of this year, I will be ready.
I'm now leaning toward saying that the crash will come sooner rather than later. The United States is now in its worst bout of inflation in about 40 years. That could also be taken as saying that the US had kept inflation in check quite well for a little shy of 40 years.
But inflation is something that really shouldn't just be ignored. There's no limit to how bad it can get if you ignore it. The fed will have to tighten the money supply to clamp down on inflation, and ideally, that happens very soon. The fed realizes this, which is why we'll see a considerable increase in the interest rate unless political interference prevents it.
It's likely to bring a recession when they do clamp down on the money supply. A quick recession isn't really a bad thing if the alternative to have a stagnant economy with high inflation for the foreseeable future that still requires a sharp recession to end it. But a recession will mean a lot of people needing to pull money out of cryptocurrencies and not so much spare money available to be put into them.
If nothing else, tightening the money supply will mean a lot less money floating around, and that will mean a lot less money for people to throw at mined cryptocurrencies.
https://biturl.top/rU7bY3
Beyond the shadows there's always light
https://www.tomshardware.com/news/gpu-prices-mid-march-down-nine-percent
The bad news:
Only 41% more to go before they get back to something like normal.
How long has crypto been squeezing graphics card markets for how long now? About a decade?
Maybe there's a new norm.
https://coinmarketcap.com/currencies/ethereum/
Yes, prices have gone nuts since about the start of 2021, though they're on the downswing now. Video cards were also scarce for about the first half of 2017. But there was also a period of about 2 1/2 years from mid-2018 until the end of 2020 where miners generally weren't buying video cards and left the market alone. There were also spikes from previous mining runs in 2011 and 2014, but they both ended when prices dropped--and miners flooded the market with used cards that had previously been used for mining.
Of course, while mining isn't the only huge shock to the system that is possible. Remember when hard drive prices went nuts due to flooding in Thailand that shut down a large fraction of the world's production? If China invades Taiwan and TSMC's foundries get damaged, we'll see crazy prices on most computer parts that last for several years.
https://www.evga.com/products/ProductList.aspx?type=0&family=GeForce+30+Series+Family&chipset=RTX+3080+12GB
Brenics ~ Just to point out I do believe Chris Roberts is going down as the man who cheated backers and took down crowdfunding for gaming.
Brenics ~ Just to point out I do believe Chris Roberts is going down as the man who cheated backers and took down crowdfunding for gaming.
Cards still aren't down to MSRP in most cases -- with the exception of the 3080Ti (which had a pretty steep MSRP in the first place, given that it released after a lot of this inflation occurred)
[GPU] Asus Dual RTX 3060 12GB (549 in stock online) [MemEx]
Brenics ~ Just to point out I do believe Chris Roberts is going down as the man who cheated backers and took down crowdfunding for gaming.