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Crypto crash may have led to deluge of second-hand GTX 1070s onto online markets

Cards, cards everywhere (on eBay). (Source: HolyNerdvana)
Cards, cards everywhere (on eBay). (Source: HolyNerdvana)
The recent 'crypto crash' may have resulted in a large-scale dumping of slightly older cards onto sites like eBay. Consequently, this may drive down the prices others with the same GPUs (e.g. gamers) can ask for their listings. In addition, this is the season to grab cash for upgrades.

Recently, crypto markets have sustained a significant setback, with many prominent coin types (BTC, ETH, LTC, etc) losing about 10% of their value. This has led to a report by WCCFTech concerning GTX 1070s flooding the online auction market at favorable prices. Many of these cards may have been used for mining; however, others may be offered by gamers wishing to upgrade their systems.

Some tech correspondents assert that the 1070 was well suited to mining, particularly for ETH. With the currently ongoing crypto crash, many of these cards may now be sold off. WCCFTech claims to have found multiple eBay listings in which these cards are priced at approximately US$250. However, potential buyers may be wary of cards used for mining purposes. On the other hand, effective miners may have maintained their cards well and run them at optimal loads in the long term. In addition, this apparent glut of 1070s may push down asking prices for former users more focused on gaming.

It follows that the second-hand supply of other formerly sought-after 'mining cards' (e.g. the RX 480) may also increase sharply over the next few days. Shoppers may also have to take the attractive MRSP of newer versions (i.e. the RX 590 at about $279) into account when making decisions for their new or refreshed set-ups. All in all, it will be a fun time to be in the market for a new or updated GPU.

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Today's eBay search results for 'GTX 1070' are best not read before coffee. (Source: eBay)
Today's eBay search results for 'GTX 1070' are best not read before coffee. (Source: eBay)
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2018 11 > Crypto crash may have led to deluge of second-hand GTX 1070s onto online markets
Deirdre O Donnell, 2018-11-21 (Update: 2018-11-21)