GPU price gouging rant

I hate how HD7950 and 7970 shot up in price...7950 were well below 200 brand new and even less used a little over a month ago. The dare I say foolish bitcoin miners have shot up the price like crazy. I guess they think they're going to get rich off the stuff and be cool and edgy with a new currency *shrug*


been looking for a decent gpu for my bro's pc so he can play on 1080p and will probably have to go with some nvidia card, the high end on AMD's side is utterly ridiculous right now

If you're trying to mine bitcoins with a CPU or GPU these days you're doing it very wring. They have dedicated mobos and shit for mining now. You pretty much need a dedicated purpose built machine if you want to make any kind of real money mining.

Frostbyrn wrote:What is Bitcoin mining?

http://motherboard.vice.com/blog/a-guide-to-bitcoin-mining-why-someone-bought-a-1500-bitcoin-miner-on-ebay-for-20600

Basically you donate your PCs resources to calculate shit for the bitcoin database and you get bitcoins for your troubles.

Only problem is the amount you get is relative to how much other people are mining. When things fist started you could mine with a CPU or GPU no problem because that's what everyone else was using too and there weren't that many people mining either so it was easy to keep up.

If you're just running one GPU and trying to mine now chances are you'll be spending more on electricity than you'll be getting back in bitcoins because now mining is big business and people build these crazy arrays with special low power chips that perform similarly to a GPU but are designed specifically for mining.

like this.



You're not even in the game with a regular PC compared to that.

Frost, how have you not heard of bitcoin mining?

Jr, the problem is fixing itself slowly. Litecoin and Dogecoin (the eternal joke is painful) are slowly becoming more prevalent for mining purposes.

why is this even a thing

Ante wrote:why is this even a thing

free money

hahahahaha

chunckylover53 wrote:

Ante wrote:why is this even a thing

free money

Seems legit

Keyser Söze wrote:

chunckylover53 wrote:

Ante wrote:why is this even a thing

free money

Seems legit

For a time it was working.

I don't understand how it can be worth so much. 1 bitcoin right now says it's worth 765.9 US dollars. When US is supposed to have the strongest dollar in the world right now? The other week a bitcoin was almost 1000 bucks.

I remember about 2 years ago when bitcoins were 20 bucks each, I should have got some but was on the very verge of bein on the streets then lol.

somebody would probably be better off buying a fraction of a bitcoin and letting it grow rather than wasting all the money and electricity bill to mine for some, which I heard it's getting to the point unless you have an ultra uber setup like in that pic hydra posted it's really useless to do, somebody would never even break even on their costs

bit coins don't "grow" though, they fluctuate according to demand. Basically, they're the perfect capitalist currency. Their value is fixed only by supply and determined by demand.

Honestly the government could just stomp them out if they wanted to( i believe china already has to an extent, go figure) so that's really the best reason to not get involved. In order to sell you need another who is willing to buy, the last time i checked you can't really cash them out at any place but some places are beginning to accept them.

I suppose it's an investment like any other just not exactly that tangible most bitcoin investments pay back in bitcoins and not actually $, can't say i've put any money into it though.