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Good god! What happened?!?

#1DinglesteedPosted 12/10/2013 12:22:22 PM
Was just browsing newegg and decided to look at my GPU I bought a few months back - Sapphire 7970 OC with Boost - to see what it was selling for now. I paid about $289 for it after rebate. Just checked and it is selling for a whopping $499 and is out of stock. The hell?
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#2ChromaticAngelPosted 12/10/2013 12:23:54 PM
short answer: bitcoins/litecoins

long answer biiiiiiiiiiiitcooooooooiiiiiinnnnnnnsssssss/lllllllliiiiiiiiiiitttttttteeeeeeeccccccoooooooiiiiiinnnnnnssssss
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"The easiest way to stop piracy is ... by giving those people a service that's better than what they're receiving from the pirates." ~ Gabe Newell.
#3GTL581Posted 12/10/2013 12:26:10 PM
i still don't understand bitcoins. i get that they're digital currency, but how the hell are they driving up prices of gpus like that?
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#4Xeno_PredatorPosted 12/10/2013 12:27:30 PM
People buy GPUs to mine Bitcoins. Sudden demand with no supply = increase in cost.
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#5Dinglesteed(Topic Creator)Posted 12/10/2013 12:30:43 PM
Considering selling mine and just getting a 770 + extra cash. Man....A bit ridiculous haha.
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Playing: CoD: Ghosts (PS4), Forza 5 (XB1), Mario 3D World (Wii U), ETS2 (PC)
3DS FC: 2191-7639-5571
#6AngurvadalPosted 12/10/2013 12:38:03 PM
Bitcoin market is crashing fast so better sell it while you still can.
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#7r0ge00Posted 12/10/2013 12:39:20 PM(edited)
Xeno_Predator posted...
People buy GPUs to mine Bitcoins.


Only clueless people are still trying to mine Bitcoins with GPUs. They're probably mining the sub-types like Litecoins or whatever. ASICs completely took over Bitcoin mining and are only getting better.
#8xanthan1Posted 12/10/2013 12:43:58 PM(edited)
r0ge00 posted...
Xeno_Predator posted...
People buy GPUs to mine Bitcoins.


Only clueless people are still trying to mine Bitcoins with GPUs. They're probably mining the sub-types like Litecoins or whatever. ASICs pretty much took over Bitcoin mining and are only getting better.


So either idiots wasting money on a fake currency that they can still scam people out of for real money but will never be able to do since they're woefully outdated or idiots wasting money on a less popular version of the fake currency that can't scam anyone out of money for for nearly as much.
#9bluezeroPosted 12/10/2013 12:42:36 PM
Yeah I just relisted my 7950 today. Fingers crossed.
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#10Orestes417Posted 12/10/2013 12:46:37 PM
Nothing fake about the currency. If people trade for it it has value. It is the wrong time to jump on the bandwagon though.
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