If you are a HODLer like me, you know the market isn't looking so hot. We are seeing prices dropping across the board, with BTC dropping below 8k again. And, as with cryptocurrencies attached to btc for value, are dropping as well. Steem is sitting at above 2$ as of writing, ETH is falling below 700$, BCH dropping below 1000$, and LTC is sitting around 150$. But one thing that's not tanking is GPU prices.
Ever since the surge, we have been seeing gpus go well over msrp. Trying to find a GTX 1060 below 400$ is still an issue, 1070s are hitting 1080s msrp, and the 1080tis are still fetching over 1000+. But why? Why are they staying up? People are still buying them, that's why.
Miners still have faith prices will rise(as do I) and are mining currently pretty close to a loss. Many using gpus are turning their attention to higher risk coins hoping for a big payoff. If you can't make profit, why not make a gamble? Worse case, ur just covering electricity costs.
I myself am mining raven coin. Raven is going for next to nothing, and the wattage output is actually less than what it was when I was mining on nice hash. I don't have the biggest mining setup, just 4x 1060s. I can pay the electricity costs out of pocket, and since the weather is still mighty cold around here I'm still saving money since I'm using less heat. People aren't joking that you save MAJORLY on heating costs.
Now, should you jump into mining still? At these GPU prices, I would say no. Youd be lucky to break even at this point in time, not to mention the next gen of gpus are just around the corner. It's better to invest in crypto straight out. If you do plan on mining, just hold off until the middle of the year.
Thanks for reading! Feel free to comment below. If you'd like to donate , here is my addresses.
BTC
1UZmmkvFbRJ8orn6oBmXGjX21zTTFvYbN
Ltc
LfTXsa4c6qefRdrGebZdX1UNjdLp7r7VxY
Image source: https://www.servethehome.com/nvidia-deep-learning-ai-gpu-value-comparison-q2-2017/
Coins mentioned in post:
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