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I think a big reason crypto exploded is tied into prices of graphics cards. Anyone else think so? Miners use them to generate coins, and there was a huge shortage of them. The cards released in 2020 were mining monsters, it makes sense that miners scooped them up. The limited supply left for consumers drove up prices 200-300% above MSRP. The graphics card price inflation nearly mirrored crypto.

Now the cards are coming back down in price because in part, China shutting down miners. Now there's a huge used card supply, and sales have hit a dead end. This drives the price of cards down, along with the fact next Gen cards are half a year away. Prices have to come back down to earth and lo and behold crypto follows right along.

Also curious that Blackrock and Vanguard have controlling shares in both AMD and Nvidia. Shows that they heavily manipulate the markets.

I think a big reason crypto exploded is tied into prices of graphics cards. Anyone else think so? Miners use them to generate coins, and there was a huge shortage of them. The cards released in 2020 were mining monsters, it makes sense that miners scooped them up. The limited supply left for consumers drove up prices 200-300% above MSRP. The graphics card price inflation nearly mirrored crypto. Now the cards are coming back down in price because in part, China shutting down miners. Now there's a huge used card supply, and sales have hit a dead end. This drives the price of cards down, along with the fact next Gen cards are half a year away. Prices have to come back down to earth and lo and behold crypto follows right along. Also curious that Blackrock and Vanguard have controlling shares in both AMD and Nvidia. Shows that they heavily manipulate the markets.

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[+] [deleted] • 6 pts
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The rumor is Blackrock crashed UST to crash the crypto market.

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What's the best way, or a good way to purchase Luna?

[–] [deleted] • 1 pt

Nice. Hope it works out. I was going to throw a few dollar into it, but I've read that they are massively increasing the rate of Luna being created, so the price may never recover.

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I believe crypto exploded due to (((hedge funds))). That fad has faded. Add to it, the alt coin/stable fraud that got so bad, it can't be hidden anymore. because the fraud has gotten so bad.

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If your goal is to wipe out wealth, you'll see them perform exactly as they have been.

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The electricity wasted is unbelievable

Should have made ie a prime number coin.

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Finding prime numbers is just another form of proof of work.

And the energy is not entirely wasted, but allow the networks to synchronize without a central coordinating server.

There ARE coins that use "proof of stake". This means that holders of the coins can sign blocks using their holdings. The downside to these coins is that theoretically someone controlling the supply would also control the entire chain. For this and historical reasons they simply haven't been so popular.

In either case cryptos waste a LOT less resources than the legacy financial system. And furthermore if energy costs rise, crypto mining will use less energy since its nothing more than a contest of a sort.

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Other way around, Video card prices went up because crytpo exploded. The chip shortage as well.

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Crypto exploded because the new cards were mining monsters. If they weren't they wouldn't have had the demand they had. Plus Blackrock and Vanguard likely engineered the chip shortage.

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Seems to me the point of crypto is actually just to cash it out into the fed-printed money they said it could replace

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It was never meant to be like this

Blockstream/DCG/Mastercard/others hijacked the bitcoin protocol with 1mb blocks, segwit and taproot

Killed its usability as money

Also disabled op_codes which is why vitalik made eth

Now bitcoin as per the og white paper is BSV and Satoshi is taking everyone to court

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You are wrong.

Proof of work crypto currencies automatically adjust the mining difficulty so that blocks come on average every 10 minutes (or whatever time a particular chain has). Even if only a single graphics card was left difficulty would adjust down to 10 minutes.

The purpose of this "wasted" effort is to allow the network to synchronize without any central server doing it. Instead whoever gets the block defines the system state (as long as no other rules are broken, ie. miners cannot steal). If anyone could make a block there would be so many the network would be unstable.

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What does this non sequitur have to do with the price of graphics cards trending with crypto? Nothing at all? Well, you sure showed me.

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What does this non sequitur have to do with the price of graphics cards trending with crypto? Nothing at all?

Just explaining how it works. It is theoretically possibly for crypto demand to drive up the demand and price of graphics cards, but this doesn't mean that crypto in return are affected by graphics cards.

I say 'theoretically' because for years now most of the major cryptos have not even been mined with graphics cards, but specially constructed devices called ASIC mining chips or FPGA mining chips.

With this in mind usually graphics cards would only be used to mine new and niche cryptos or cryptos designed on purpose to be hard to make ASICS for (though ASICS are usually made even for those in the end I believe).

I guarantee no one is mining Bitcoin with graphics cards these days, not anyone even half serious at least.

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The compute units on GPUs are second to none, at a commercially available level.

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Definitely not due to crypto. It's due to chip shortages caused by lockdowns. The GPU launches were paper launches with only handfuls of units going out each month. In a real launch they'd be sending hundreds of units to big retailers. This time most were able to get single digit amounts.

Crypto mining on GPU isn't amazingly profitable anymore, unless you're counting on holding the crypto for years ahead of time (which means not recouping your investment in either cards or electricity for years).

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But it was, and specifically because those cards were really good at mining

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Dude, did you not read anything? They were shipping 2-3 cards PER MONTH to major retailers. How do you figure that means that crypto miners were buying up all the cards? Crypto miners have to buy them from retailers like anyone else. They don't get to buy them before they hit stores or some shit.

If major retailers were getting 2-3 cards PER MONTH instead of 500-1000, that's a paper launch not a shortage due to mining.

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AIOs were delivering pallets of cards to miners.

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You have the causality backwards. Ready about the "labor theory of value". It is a marxist fallacy that you seem to believe in.

When shitcoins (that is to say, any cryptocurrency other than Bitcoin) go up in value, people buy more graphics cards in order to make more money mining. Graphics cards don't make the price of shitcoins go up. Shitcoins make the price of graphics cards go up.

Bitcoin isn't mined with graphics cards. It is mined with special chips made just for Bitcoin mining.

China shut down bitcoin mining, which has no effect on graphics cards. Also, those mining machines were just sold to people in other countries, so it isn't like they are shut down.

[–] • -1 pt

You believe we live in a free market? Lol Blackrock is Nvidia's biggest stock owner. You think it's beyond them to manipulate markets when they do it all the time?

Bitcoin isn't mined with graphics cards.

We're done here. You keep saying these easily verifiable lies.