Graphic card prices

[vivster]

Bandorr said:

starcraft said:

At this point its a high-volume low-margin business. But in the early stages people that mined and held their coins are now loaded.

I get the people at the beginning. I mean now. Why are people getting into it now?

Video cards are at a all time high.  I think you are getting "less" than you were before. Plus even if you join a group that just means you are having to pay a group fee (for electricity, rent etc) and only getting a fraction of the worth.

Is there a new "coin" people are mining that isn't "bit"coin and thus are making a profit off that?

A lot of new crypto currencies exists, we're talking about hundreds. It's very easy to start your own blockchain. Currencies below Bitcoin are showing the same rise as Bitcoin but are currently much cheaper to mine. It's basically the big second wave after bitcoin, just spread across dozens of different currencies. Everyone is hoping to get in early and that their specific mined currency will grow in value similarly to bitcoin. It's a gamble, very much comparable to the 19th century Gold Rush. You're buying a whole mine in hopes it will have enough gold in it to amortize the costs.

People will do a lot for "free money" even if the margins are very small.