My $5000 worth of GPUs is now worth $10000 but I’m not selling.

[Music] hey guys RP here hope you're doing well having a really great day this video I just wanted to look at gpus and what the pricing of them are now it's January 23rd as of recording this video and also the crypto market right now has been essentially going down so this is probably going to affect the prices here pretty soon if we keep on going down but who knows right but I just want to compare pricing now to look at eBay you know recently sold on eBay and just generally look at you know how much you know 390 is or maybe 5700s or even 580s have gone up in price over the past couple months I'm going to refer back to a video I did maybe three or four months ago where I bought $5,000 worth of gpus and probably now that whole stack of gpus I have is probably worth maybe 10,000 now if I were to recalculate but we'll go through that later on in this video but mainly looking at the trends as well for majority of the gpus that really have gone up over the past couple months in price but that's in my opinion going to go with how GPU mining in terms of profitability was pretty good was generally good for even above 14 or even 15 cents you know for a good maybe month or two and but now that the market has essentially been going down ever since the Bitcoin ETFs were approved it's just been kind of like a downward spiral here maybe not that big but depends how you look at it anyways let me expand on all of this in a sec right after a word from today's video sponsor coin mining central.com based in the United Kingdom coin mining Central has been in business for over 5 years as one of the top leading suppliers of crypto mining hardware and cryptocurrency related products with free worldwide shipping they have competitive pricing and offer secure and tracked delivery for Peace of Mind secure and encrypted payment options using numerous nous cryptocurrencies and bank wire transfers account management for your orders professional customer support and even bulk Asic minor deals in which all new miners come with a manufacturer warranty check out coin mining central.com today and use code RPM for $135 USD off each product ordered links in the video description below okay so make no mistake crypto mining for a lot of people that are probably looking at how you know profit for those that care about profitability okay there's going to be miners that care about how much they make a day then there's going to be miners that maybe don't care about it maybe they care about their yield and they're just Mining and holding which in my opinion is going to be the best strategy of course your electrical cost it's going to differ from everyone and so there's no right or wrong strategy I can say you know if you had 4 cents or 5 cents right now I mean you're just you're just printing money at that point if you had cheap electric but for anyone like 10 cents 11 cents 12 cents and above you you might have to change your strategy and go the mine and hold method wait for Price appreciation as I think generally a lot of us home miners have done and it has worked out but anyways going just to previse this video regarding how the Market's been going down okay before I talk about the GPU prices okay so over the course of the past two or three weeks here ever since the Bitcoin ETF news Okay in terms of uh like GPU minable coins like over the past like 30 days here there has been pretty much a downward trend for a lot of prominent GPU minable coins okay so like narai for instance over the past 30 days overall down 41% setox also down 43% um let's see mecoin down 100% ER goes down 31 a prominent coin there Game Pass is down it's like a Kow coin uh iron fish is down Raven coin generally down um Nexa down 19% over the past 30 days DX down 16% six past 60 days it's down 45% radiant is down 43% over the past 60 days uh just just going down this list right but over the past 3 days aren't there any winners okay and there really aren't many seia coin has been going over the past 3 days up 93% and that's probably going to be because of the gold shell they have a new I think two new Asic models coming out I'm sorry this is a GPU I know this is a GPU mining video but I'm just explaining here why seoin is probably going up because as seoin has been going up here there's been two new Asic models been announced and probably bitmain's going to come out with their sc3 or whatever uh probably sell those who knows a lithium okay so looks like a lithium yeah did have a pretty big jump I'd say over the past couple weeks um 30 days 65% past 60 days 147% uh past 7 days though it's been going down about what 25% I think the high was like $2.50 so there was a time when everyone was on even now I mean hash rate down I know lithium was bouncing around in terms of profitability for a lot of GPU Miners and the hash rate for lithium went up a lot went up quite a bit um but going back here okay so really not a lot of winners over the past 30 days especially GPU minable coins okay in terms of for those that care about profitability that's what I'm trying to refer refer here and so that's why in a in in a sense since the Market's been going down okay overall trend going down over the past couple of weeks that we have seen profitability wise go down as well okay so as I don't know that's just that's I did 15 cents like last profit video and if I go were to go to like a 580 like 580 we like breaking even at like 10 cents or something so even at 15 C it's losing it's losing like 12 cents right now 15 cent kilowatt hour so that just tells me yes the overall trend for profitability wise has been going down look at that so breaking even roughly is for 580 I'm not saying 580 is good for mining I'm just that's just my Benchmark here is going to be around 9 cents now so from 15 cents to where it was like really good like like profitable on a 580 now it's it's 9 cents okay breaking even okay that that's how much the market has fallen if you guys understand here so for for everyone that's you know turned on and you know all the extra Hardware that's turned on you know there's that equilibrium you know a lot of hash rate has turned on essentially over the past couple months and that's in my opinion going to coincide with the GPU pricing trends of how these prices of gpus have been going up over the past couple months so you guys rely know what's happening over the past couple weeks here as the market goes down I mean a lot of uh proof of work GP minable coins have essentially been going down as well so hopefully understand that okay so preface with that now let's go on and talk about my purchase of gpus that I did about 3 months ago October 16th I did a video here titled I bought $5,000 worth of gpus you guys have probably seen the massive amount of gpus I left on the floor here a good quarter of them are online not all of them I think in total I had about what 65 67 AMD gpus and half of them were 5700 XTS and the other half were RX 580s okay so lots of AMD gpus so 580s were generally I think I got around $35 each for the 580s and then the 5700 X XTS around averaging around less than10 to $95 average so in total it was roughly about $5,000 for all of the gpus that I got here so let's look at what are the pricing of the gpus that I got you know before and I have a screenshot here okay okay so rx580s back in October 14th was around $60 to $80 selling on eBay okay and then the 5700 XTS were selling for about 120 145 150 and so let's look at what 5700 XTS are now okay they're selling some of them are selling for over $200 okay January 22nd 2024 as of recording here $180 for an XFX 5700 $200 for a sapphire pulse you know 169 139 127 the Prices range here um 230 water blocked one 178 159 147 I think the the trend is now kind of coming down for these uh for these 5700s but just like maybe a week or two ago the prices of these gpus were generally a lot higher okay compared to when I uh you know bought these gpus not for $145 each like I said under was roughly around under $100 and so these are you know back then was about10 150 around there for the powercolor Red Devil you know the the cream of the crop brand the powercolor Red Devil one of my favorite gpus as well um I just love how it looks you guys have seen them before so looking at it now if I were to sell you know all those gpus that I bought a couple months back could I flip them for around 10K yeah probably because the ARX 580 in my opinion also has kind of gone up over maybe maybe for some depending on the model maybe it's kind of the same but the some people are paying $76 plus $31 shipping for a sapphire Nitro rx580 special edition um you know MSI 58 580 GT $80 plus $26 shipping so over $100 for a 580 people are still are paying these numbers January 23rd still now if I were to sell my $35 rx580s I it' be maybe about $60 on average I think so it'd be double than what I paid for at least so and my 5700 XTS would be the same idea if I were to sell them for like 200 like double than what I paid for so essentially the whole lot here that I got could be worth $10,000 that's just something that I that's just funny to think about like you know since the market has gone up over the past couple months GPU mining you know in terms of profitability wise has gone up so that's why in my opinion since the profits were up that gpus were also going up in a sense so but now let's talk about the trends for gpus now okay just generally like I I like looking at like just 490s and like 309s and like 309s are about something for $900 I know for a fact that maybe half a year ago maybe when Bitcoin was like25 $30,000 that these were selling for like 600 bucks 309s were like 600 bucks uh on the used market now these are selling for well over $800,000 um well that's a 390 TI but yeah you know you guys understand what I mean but let's look at the trends here so 3060 I'm just going to skip the Intel gpus I I don't know if anyone's buying these or not I did heard recently that uh Intel could be coming out with a new model I'm not quite sure but the price trend for Ark a 770s looks like it's been going down but whether or not these GPS are going to be good or have support for mining in the future I have absolutely no idea so uh due diligence there but let's keep going here RTX 3050 8 gab looks like the price trend for that has been stagnant over the past half year hasn't really gone down or up okay let's see RTX 360 over the past half year looks like it's been going down this is a 12 GB card okay so around hovering around 3 what7 50 or something this is for brand new pricing okay brand new prices not used okay I forgot to disclaimer that 360 TI all right so looks like had a bit of a jump over the past couple months I know this is when the markets and a lot of GP minable coins were also pumping like going up and so profitability was coming back hence why we did talk about you know 15 cents being you know profitable for majority of the gpus even ARX 580s for God's sake over 15 cent kilow if you had 15 cent residential electric you were profitable on pretty much all gpus it was it was pretty good during the past couple months but now because the Market's going down I'm assuming we're going to have downward pressure here and also prices could be lower who knows who knows I'm just but talking about now Okay so 3060 TI yeah okay let's go to the next one 307s okay so 3070 chart here looks pretty weird uh 3070 lhr okay looks like they were you know brand new they were like what $500 wow $500 and then you know now nowadays like $600 wow that's C wait 37 I'm assuming this is all for brand new so not like anyone not I don't Rec okay yeah that makes sense 549 for a uh 370 V2 653 these are all brand new wow this is horrible yeah so this is definitely gone up okay I I would like normally used okay if we just do 370 I we might as well just go to eBay here uh RTX 3070 it should be generally like under $300 yeah um I mean at one point 6 months ago I remember some people were selling these for $1 175 under like $200 so prices for 370s has definitely gone up but time will tell if we keep going down here if prob starts tanking uh we should probably see prices of these also go down but I'll update you guys on that uh if I make another video in like a month or or so um 378 TI hasn't really been going up okay brand new in prices uh going down here uh 39 okay this chart looks I already explained 390s yeah they used to be like $600 now they're over $800 to $1,000 for some of them um 39040 okay so I'm just going to skip all the 40 series cards I don't know if many people are buying these but I guess depending how you think about it I mean if you're buying a I don't $2,000 card I mean the idea here goes along with any other gpus out there I mean if the B run comes I mean in my opinion like this these gpus should be worth a lot more than it is now like $4,000 $5,000 I don't know I'm just speculating you know 309s at one point used to be $3,000 the previous bull run right you guys remember that these 390s were selling for $3,000 maybe $3,500 at one point so what's not to say 490s could also do the same thing or any other 40 series card okay I guess that argument is kind of it goes along with the bow run right for anyone that's buying 40 series for mining um it's just in my opinion it's just the efficiency gap between the 40 series and 30 series it's it's not really a big difference I mean it is but it's not and so the dollar value that you you're you're paying to buy these 40 series gpus compared to like used 30 series gpus your break even okay it's going to be a lot longer on 40 series cards but you can't forget the fact that yes if the bull run comes GP money is extremely profitable then your 40 series GPU will will also be worth a lot um good on core dependent coins but not so much efficient gains against like you know Capal or you know memory dependent coins like eash just don't feel like the price difference is worth it to buy the 40 series at this point versus used 30 series cards but granted these prices are going up for you so might have to change that uh depending on how much you can get the 40 series card which 30 490s cost a lot you know 407s I mean how much are 470s 4070 super for instance six okay yeah okay yeah so the 3070 price is new was like $5.49 yeah I would whip out like $100 more buy a 470 super um that's just that's actually really funny to think about the price difference there between a 470 super and a 40 and a 3070 brand new let's just look at that again that was 647 this is 549 55 wait 653 for 370 dude that that's yeah this is why are these wow these prices are I have actually never seen 30 series uh prices like recently so this kind of shocks me that buying these new like they're still available people are like you know these are available 6 20 of these 653 that is not a good price wow I hope nobody is buying these on Amazon anyways okay I mean this kind of correlates to the 3070 here pricing average okay that makes sense 600 okay so it has gone up for new for buying new so look at that okay the I had to say yes over the over the course of the past couple months GP pricing has gone up and I mean across the board I mean a lot of you guys have probably seen it as well but I want to know what you guys think and what is I guess your thought process right now I mean are you guys selling gpus like depending on your financial situ situation like what are you guys planning on right now like are we on the precipice of the Bull Run are we on the next low for you know crypto Mining and then Bitcoin having comes and then a couple months later everything starts going back up you know what's your guys' plan what's the strategy here well in my opinion in my case here I'm not selling anything I'm not selling any gpus I'm just keeping everything I have now and I'm going to be just continuing to mine and hold as much of the yield of whatever coin that I'm mining right now I mean that's the strategy and waiting for the bull run to happen so a lot of these other proof of work GPU manal coins are going to price appreciate that's that's the idea not not everyone can do it all right I I know everyone's in different Financial situations if you have low electrical cost I mean you're just printing money at that point so if you're doing it as a business I mean you're yeah I mean everyone should be doing this as a business because you can expense and depreciate your uh depreciate the hardware that you buy and also expense the electric okay so there's a lot of positives there it's like pretty much getting the crypto for free because you're able to off offset the income which is the mining here towards the asset that you paid for and utilizing that to make money okay anyways not tax accounting advice go consult your CPA I know tax time is like pretty much now for a lot of people and that in of itself can be its own video if you guys want me to do like a like a coin Le video how I do my taxes or something let me know down below I don't know if anyone's interested in that or not all right anyways guys let me know your thoughts and uh what you guys have seen recently and uh let me know what the next strategy is or for gpus still continuing to mine are you selling the stuff now or what I I don't know I'm just I just P that out there all right I'll see you on the next video have a good one peace out

As found on YouTube