With fast-growing cryptocurrency rates, mining has temporarily become a very profitable business. Nevertheless, market laws are still valid. Profitable sphere attracts many side people to it.
The amount of miners included even Sberbank employees who were mining cryptocurrency at their workplaces, as well as the employees of the All-Russian Scientific Research Institute of Experimental Physics in Sarov, who were mining when the rates reached the top. Once more people start mining, the complexity of the calculations increases. As a result, the profit margin returns to its normal index. The same happened to cryptocurrencies again. Moreover, this time depreciation accelerated the correction process.
According to Avito website, the Russians started selling mining equipment. In January 2018, the number of ads on the topic increased by 62%.
Nowadays Avito has about 14 000 ads for the sale of mining equipment, and in January their number reached 23 000. The same ads number were posted for the entire third quarter of 2017.
Nevertheless, the demand for mining equipment is small, Avito reports. In January, only 1525 out of 23,000 ads led to bargains, which is, 6.6% of announcements. It means that the demand decreased by 34% compared to the similar statistics of past months.
In the ads for sale, the average price of a small mining farm is between 170 thousand and 175 thousand rubles. The average price of real bargains in January is 126 thousand rubles. Yula, the alternative trading platform, shows the number of transactions in January also decreased, with the average price of 214 thousand rubles.
According to experienced miners, low bitcoin rates prolong the payback period of the farm up to 10 months. Besides, it is highly recommended to test the equipment before buying it.
On February 6, having reached the bottom, the bitcoin rates started growing steadily. The same happened to another cryptocurrencies. In case of a new sharp jump of the rates, the rush demand for video cards will resume. If not, the situation on the market is expected to come back to normal soon, so the cost of video cards will return to accustomed values.
Earlier we wrote about Unitsale as a legal alternative to ICO