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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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[–] • 3 pts

Yes. As I've repeatedly explained in the past, crypto is fiat petro currency. It's not redeemable for anything and its "worth" is always based on the cost to create. The cost is exponential energy input. Faster cards simply shifts it back down in cost to generate.

Crypto only have value so long as people believe it does, energy costs continue to rise (in a post- fossil fuel world), and computing technology remains unchanged (where computing technology has already changed).

[–] • 2 pts

Crypto only have value so long as people believe it does

That's literally everything including gold and houses. Gold's intrinsic value if you assume jewelry and electronics is about 10 dollars an ounce and both jewelry and electronic uses can end tomorrow.

Houses are now being 3d printed for cheaper and better. People may not want an old school sheetrock/asphalt roof shitbox much longer.

At least with crypto we can send value anywhere in the world instantly and no fucking body can stop us. Also, kikes don't create it out of thin air and fund BLM with it or require diversity officers to get loans.

Most don't even know only banks create US dollars. https://youtu.be/JG5c8nhR3LE

[–] • 2 pts

You're completely wrong and don't understand the difference between fiat and money. People want tangible goods. Imaginary accounting numbers are worthless.

[–] • 0 pt

Implying your bank account isn't imaginary accounting numbers backed by fractional reserves from a non-government entity that can be stolen at any moment.

[–] • 0 pt

You sure about that? I mean there are these markets where people are trading all kinds of currencies for each other. I think they call it forex. It's really weird man. Also, they trade these currencies for cryptocurrencies and goods and services.

I must be imagining that.

[–] • 0 pt

A power outage can stop you.

[–] • 0 pt

Nope. Happens all the time.

[–] [deleted] • 0 pt

Gold's intrinsic value

You forgot dentistry. Gold is better than amalgam and composite

[–] • 0 pt

LOL...good point. Who knew rappers would be propping up gold.

[–] [deleted] • 2 pts

its "worth" is always based on the cost to create

aka labor theory of value

if Jack spends 10 billion hours polishing a turd, that turd is still worth jack shit