Gamers’ Relief: Bitcoin Bear Period is Bringing Down High-End GPU Prices

bitcoin isn’t the only one going down. As the cryptocurrency keeps losing its value, other areas of the industry are starting to take its toll.

As bitcoin, and cryptocurrencies all over the world, skyrocketed in value last year, a new market was born — crypto mining. I’m sure you know at least one person who either attempted to — or dreamed of, — mining bitcoin. If you were one of those people, you probably looked into the technical requirements to pursue such a venture.

High-End Gaming Processor Cards Registered New Unprecedented Heights

As reported by ComputerWorld in April this year, the NVIDIA GeForce GTX1070, AMD RX480, and AMD RX580 were the most popular gaming processor cards — or Graphics Processing Unit Cards (GPU). At the time of their report, NVIDIA’s was being sold for more than $700, when it was once sold at $380.

The search for GPUs by crypto miners increased at such a rate that NVIDIA itself advised its retailers to prioritize sales to gamers, rather than miners. However, Advanced Micro Devices (AMD) was the brand of choice for crypto miners, up until the supply was exhausted.

Thanks to cryptocurrency mining, sales of GPUs used as add-on cards for PCs almost doubled in the last 3 years, going from $2.7 billion to $4.7 billion. According to ComputerWorld, the research and advisory company Gartner estimates the revenue from GPUs installed in data centers registered a steep increase from $168 million in 2015 to $1.1 billion currently. Overall, GPU sales increased from $3.82 billion in 2015 to $6.45 billion this year, so far.

The Trend has Reversed, Supply is Increasing and Prices are Dropping

If you’ve been thinking about it for some time, now it may be your chance. Like cryptocurrencies all around, GPUs value has been declining fast. According to Jon Peddie Research, over three million GPUs worth $776 million were sold to crypto miners in 2017, with AMD leading the charge. Dr. Jon Peddie said, “We expect demand to slacken from the miners as margins drop in response increasingly utilities costs and supply and demand forces that drive up GPU prices.”

Two examples are NVIDIA GeForce GTX 1080 Founders Edition and AMD’s top-end OEM 4GB RX 580 six-pack. These were priced at $1,050 and $3,600, respectively, but have since dropped to $709 and $2,500. A considerable change, having in mind what happened not too long ago.

As cryptocurrencies continue on this path to irrelevance, we can expect other areas of the industry to show similar signs of devaluation. Just yesterday, CCN reported how Coinbase went from being the top app in Apple’s App Store to dropping to the bottom. Now GPU sales are being affected, too. What do you think will be next?

Featured image from Shutterstock.

Featured image from Shutterstock and charts by Tradingview.
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Published at Thu, 12 Jul 2018 13:16:07 +0000

Altcoin Mining

March 31, 2017

Ending the Federal Reserve from the Bottom Up

mises.org / William Greene / March 31, 2017

Since its inception, the U.S. Federal Reserve’s monetary policies have led to a decline of over 95% in the purchasing power of the U.S. dollar. As a result, there have been several attempts to curtail or eliminate the Federal Reserve’s powers (e.g., the efforts of Rep. Louis T. McFadden in the 1930s; the efforts of Rep. Wright Patman in the 1970s; the efforts of Rep. Henry Gonzalez in the 1990s; and the efforts of Rep. Ron Paul since the 1990s). However, none have proven successful to date, due mainly to the constraints of strong political opposition at the national level. In contrast to these “top‐down” attempts at the national level, this paper proposes an alternative approach to ending the Federal Reserve’s monopoly on money: the “Constitutional Tender Act,” a bill template that can be introduced in every state legislature in the nation, returning each of them to adherence to the U.S. Constitution’s “legal tender” provisions of Article I, Section 10.

This approach would have a greater likelihood of success for a number of reasons. First, it is decentralized: rather than facing concerted political opposition at a single Federal level, it attacks the issue at the State level, where strategies and tactics can be adapted to the types and amount of political opposition they encounter. Second, it is diffused: it can be attempted in any number of States, which can cause the opposition to spread its resources much more thinly than would be necessary at the Federal level. Finally, it is legally sound: it relies on the U.S. Constitution’s negative mandate in Article I, Section 10, that “No State shall… make any Thing but gold and silver Coin a Tender in Payment of Debts.” Therefore, in contrast to “top‐down” attempts to “end the Fed,” a “bottom‐up” approach using “constitutional tender” laws will find greater success.

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Gamers’ Relief: Bitcoin Bear Period is Bringing Down High-End GPU Prices

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High-End Gaming Processor Cards Registered New Unprecedented Heights

The Trend has Reversed, Supply is Increasing and Prices are Dropping

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