This Bitcoin craze is getting out of hand

Went to my local micro center with my coworker so he can look at upgrading an older PC and this was what we were bet with.

That's right seems some Bitcoin miners hit the store and wiped out their entire stock.

 

Prices of GPUs are insane right now. If looking to upgrade a gaming PC, right now you're better off buying a pre-built one rather than building your own.

 

I feel old.

 

Wow.

 

I'm tempted to sell my gtx1070 and gtx1080 for a healthy profit lol. But then I'd be pc-less

 

It's actually not just the crypto currency mining that is doing this, but companies that do a lot of Machine Learning and Deep Learning are buying up GPUs because they are the most efficient at that as well.

 

Late stage capitalism. Somewhere Chairman Mao is laughing uncontrollably screaming "I told you so".

 

Lol. I've got 2x evga 1080's fs!
1st $1800 gets em.

 

It hasn't been profitable to mine bitcoins with a GPU for 4-5 years. Even if you had free power, it would take a year to earn back the price of the card. An NVIDIA Tesla C2075 will earn about $.95/day, or $350/year, and the cheapest one I see on Amazon is $500. If you are paying for power, there is no profit. They might be mining some other crypto, and then buying bitcoin with those. Or laundering dirty cash cash by buying GPUs, mining bitcoins, and selling for cash. Not sure how that cost compares to other laundering methods.

 

You're onto to something here. Could very well be for laundering money. But yeah I agree Bitcoin is harder to mine now so they've probably moved on to litecoin etc

 

You're a baller 2 1080’s

 

Yeah but they manager at this store said they were buying for mining

The whole GPU market is in a crunch now and they've implemented restrictions on 1 GPU per household etc to make it harder on these people from killing the supply

 

I want them for GPU rendering!

 

Mining? Huh..

I not sure I even understand what a freakin bitcoin is let alone how one would go about mining for one or more? Lol.

Someone fill me in.

 

@Devil Dog go on YouTube and search what is cryptocurrency you can get a crash course

 

A bitcoin is a 64 bit hash. That gets you a theoretical limit of 21 million coins, of which about 18 million have been mined.

 

I have seen on several occasions, Facebook adds selling miners that are fake website. I wonder how many people have been caught in that .

 

They're mining other cryptocurrencies. There's a large number of cryptos you can mine with GPUs that are still very profitable, that use asic resistant algorithms. I make about $6/day lazily mining while I'm at work. Passive income is a win, no matter how much.

You're gonna want to google that because it's a little more than can be concisely conveyed. The gist of it is that when a transaction occurs with a bitcoin, a bunch of complex math has to be done to verify the transaction. 'Mining' means you're using your power to help verify those transactions, and then earning some cut of the transaction fee collected as your reward for helping. Thats called 'proof of work', there's also 'proof of stake' which is different and I don't understand because I don't do it.

 

Need moar POWER!

 

Go big or stay at home!!
I do have a pair of evga 770 superclocked for sale though if someone wants a deal on some sli cards to hold them over.


https://www.tacomaworld.com/threads/2x-770-super-clocked-cards-fs.473150/