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Massive price drop

post #1 of 18
Thread Starter 
Why did the current prices of 7970/280/290 drop so much in a matter of 2 weeks... Is it because of the rave of the Maxwell chip
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post #2 of 18
Crypto craze is dying off. Scrypt ASICs are becoming more mainstream as well, which will kill GPU mining.
post #3 of 18
Quote:
Originally Posted by RX7-2nr View Post

Crypto craze is dying off. Scrypt ASICs are becoming more mainstream as well, which will kill GPU mining.
Really? About time! Let the price war begin!
post #4 of 18
To understand why the price has dropped you have to look at why the price was high in the first place. People were making money that allowed them to buy more and more GPU mine hardware. This caused a shortage due to high demand and low stock of high hash rate mine cards such as the 79xx series and R9 28x and R9 29x cards.

There has been a cascade of bad things happening to GPU coin mining lately. Mt Gox Bankruptcy and locking of accounts removed one of the easy ways to actually make capital (real money) from mining. NVIDIA released their low power GT 750 series cards. These were found to be much more efficient than pretty much anything else on the market. ASIC mining hardware started to take over performance over GPU mining of crypto and push smaller farms out of the difficulty bracket of completing new coins. Then IRS has now ruled that crypto type currency are in fact not currency but assets that must be taxed or expended and are taxable not as income but as assets gained.

These things have created a situation where it is no longer desirable to set up, power and maintain GPU crypto mining rigs for unregulated profit. It is returning where it belongs to people who are genuinely interested in the technology and no longer an easy quick buck.

Hence GPU prices are coming back down to expected MSRP and cost of Goods profits instead of profiteering from demand.
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post #5 of 18
People are selling off their AMD cards since they are not as profitable at mining crypto-currencies as they used to - the market has crashed recently.
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post #6 of 18
Quote:
Originally Posted by RX7-2nr View Post

Crypto craze is dying off. Scrypt ASICs are becoming more mainstream as well, which will kill GPU mining.

this.


at this point, the majority of pc enthusists are waiting for a whole bunch of
"USED 7970's for sale" posts to pop up. (onto ebay, OCN, etc etc)

and with all that supply of used cards, the prices should be very low
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post #7 of 18
Thread Starter 
Are the prices at the really low right now and stay this way, or will go back up to $300+?
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post #8 of 18
temp going up around N.A region probably play a small factor too...tongue.gif
post #9 of 18
Quote:
Originally Posted by Midnite8 View Post

Are the prices at the really low right now and stay this way, or will go back up to $300+?

They actually are going back to the regular price and will not likely go up in price again. 7970s were as low as $200 right before the R7/R9 GPUs came out, though I'd expect them to be around the $250~300 range since the GPU mining craze is finally blowing over.
    
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post #10 of 18
Quote:
Originally Posted by Midnite8 View Post

Are the prices at the really low right now and stay this way, or will go back up to $300+?

It totally depends on the status of the crypto currency market but I don't expect the prices to go up to where they were recently anytime soon.
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