In China, graphics cards like the RTX 3080 are suddenly being sold near the MSRP. However, you should not buy such GPUs. MeinMMO explains to you what pitfalls are hidden behind these seemingly cheap offers.
According to the Chinese online site HKEPC Hardware, Chinese miners are suddenly selling hundreds of graphics cards:
- These include high-end cards like the RTX 3090, the RTX 3080, or AMD cards like the RX 6900 XT.
- Many smaller graphics cards are also making a comeback on the market. These include the Nvidia GTX 1066 and the AMD Radeon RX 478. These are variants of the GTX 1060 and the RX 470.
- You can get a used RTX 3070 for about 400 US dollars (via HKEPC.com). That’s about 337 euros.
What is so special about this? We had almost gotten used to having to pay double the MSRP for graphics cards.
However, miners in China are selling their graphics cards for MSRP or even lower. For users who have been looking for a powerful graphics card like the RTX 3080 for a long time, the temptation to order a RTX 3080 from China for 700 or 800 euros is great.
Suddenly, hundreds of graphics cards are being sold because China doesn’t like cryptocurrencies
What reasons are there for the sudden sales? China is considered one of the countries where the most cryptocurrency is mined. About 65% of the global cryptomining hash rate for major cryptocurrencies like Bitcoin and Ether comes from China (via techradar.com).
But China has long wanted to ban cryptocurrencies, as the government has had the currency in its sights for a while:
- The anonymity of the payment process and the lack of control likely pose a problem for the authorities.
- Moreover, China is struggling with severe pollution and also sees miners as a problem.
In a major raid against miners, China has now arrested over 1,000 people, imposed trade bans, and significantly complicated the situation for miners (via n-tv.de). Chinese banks are no longer allowed to participate in cryptocurrencies.
This is why many graphics cards are now being sold: In particular, the raids have caused the prices of cryptocurrencies to plummet.
Many miners are now selling their graphics cards and equipment. Some former miners apparently want to try to get back some money from their mining hardware, which many have purchased well beyond the MSRP.
But you should not buy a used RTX 3080 hastily – there are several things to consider.
Don’t rush to buy a used graphics card on eBay or from other sellers
In general, less than 1,000 euros for an RTX 3080 sounds very tempting in times when RTX 3080 graphics cards are being sold expensively on eBay. However, you should be cautious when dealing with seemingly promising offers at first sight.
This is why you should be careful: Generally, graphics cards can withstand quite a bit and can also work under load. Nevertheless, you should be careful, as you cannot be sure what you are ultimately buying.
We do not know how the graphics cards were used in mining. The devices may have stood in a hot warehouse with many other GPU slaves for months, mining cryptocurrencies.
You certainly do not want a graphics card for your gaming PC that has been turned on 24 hours a day, seven days a week, and at high temperatures. Because you do not know under what circumstances the graphics card was operated. Therefore, the risk is generally higher that the cards may fail due to a defect. A defect may not be immediately visible on the card from the outside.
No one probably wants to voluntarily buy such a graphics card, yet they are found in the cheap offers you currently see on eBay, StockX, or other trading platforms.
In the best case, you are dealing with professionals: the miner has treated the graphics cards well and ventilated them properly, but you cannot be sure here. If you do not want to take any risks or do not know how to properly maintain a graphics card, you should be cautious with such offers.
If you know how to clean a graphics card or change the thermal paste, then your risk is significantly lower.
In addition, there are fundamental risks that you must consider when buying a used graphics card:
- You have to rely on the seller’s statement and be willing to pay money. You have no real guarantee that the purchased item actually works.
- Manufacturer guarantees or warranties are usually no longer available. Especially not if the graphics card was previously in a mining rig.
- Buyer protection systems from eBay, PayPal, AliExpress, or Amazon do offer protection for sellers and buyers, but conflict resolution may take weeks.
Graphics card manufacturers like Nvidia are currently trying to restrict mining with the new graphics cards. This could also mean that you might soon be able to buy graphics cards at reasonable prices again. However, experts expect the impact of Nvidia’s mining ban to be rather low:
Nvidia is making mining significantly harder so you can buy a graphics card soon
