WTH is up with video cards?

[Vraciu]

The GPU's are used to generate new bitcoins. Or in other words "mining". These bitcoin miners have been buying cards like crazy and created a shortage on the market and therefor the prices skyrocketed.

DutchVII

(While i hit reply some one came into my store, i didnt see Bizmans reaction. Oops  )

I had a totally different idea in mind when someone said VIDEO CARD MINING.   I thought they were hoarding them like .22LR ammo a few years back.

When I hear "BITCOIN" my eyes roll back in my head and my brain shuts off.

[Skuzzy]

Cryptocurrencies are popping up all over the place.

It looks like the miners mine one for a bit,then move to the next one when the one they currently mine crashes.

[horble]

When I hear "BITCOIN" my eyes roll back in my head and my brain shuts off.

On the plus side this brings your brain activity down to the level of the average Bitcoin enthusiast.

[Drano]

I got my 1060 6gb about a year ago just before things went totally nuts. Now that same card is like double the price I paid. Just crazy. What sucks is the demand side of the issue isn't coming from folks like us that might actually use them for what they're designed for. It's people that can afford to buy shipping containers of them at a time for mining. A good problem to have if you're any cards manufacturer but sucks to be us!

Sent from my Moto Z (2) using Tapatalk

[Skuzzy]

Well, there are two things driving the prices up.

1)  The cryptocurrency craze.
2)  RAM prices are also very high.  Some are saying it too is being driven by cryptocurrency miners.

[Vraciu]

On the plus side this brings your brain activity down to the level of the average Bitcoin enthusiast.

 

That's just terble.   LOL!!!

[Vraciu]

Isn't precious metal a factor in prices for all this computer stuff?

[Randy1]

1929

On another forum, bitcoin people are bragging about how much they have made.  The problem is their profit was in bitcoin.

Back when the Hunt brothers tried to corner the silver market around 1980, I had a couple of friends that lost everything they had after riding silver to the top.  I remember their faces when the broker called saying how much they owed for silver futures.

Sooner or later, the insiders will cash out.

The good news is there will be a huge glut of computer stuff on ebay.

[oboe]

Not sure what the used market will be like for video cards when the crash comes.   I don't think I'll be in the market for a used high end video card that has spent months working flat out 24/7 with most likely less than ideal cooling.

The crash can't come soon enough for me, but I hope it affects ALL cryptocurrencies, not just Bitcoin.

[Drano]

Jesus wept! I just looked up my MSI 1060 6GB GamerX. I think I paid something like 259 bucks for it. Now going for 796 on Newegg! That's just plain crazy land.

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[pembquist]

I recollect reading something at least a year if not two ago that the miners, the serious ones not guy in underwear at home, were having chips designed and manufactured that were optimized for mining. It seemed to be saying there was no point in trying to mine your own, I guess the recent price hysteria and copycatcoins have opened up mining in your undies market again.

[oboe]

Cryptocurrency values have recently fallen $200 bn:

https://www.msn.com/en-us/money/markets/over-dollar200-billion-wiped-off-the-value-of-cryptocurrencies-as-bitcoin-ethereum-and-ripple-sink-sharply/ar-AAuNv4b?li=BBmkt5R&ocid=spartanntp

 

[Skuzzy]

It has been estimated about 1,000 people control over 90% of the cryptocurrency market.  Guess what happens when those players collectively decide to dump their coins?

See, there are no controls in that market to prevent such a thing from happening.  Those exercising insider trading are laughing all the way to the bank.

[atlau]

Ill have no pity for the people who lose their shirts off of bitcoin.

[Vraciu]

Ill have no pity for the people who lose their shirts off of bitcoin.

I’m no fan of fiat currencies either, but I share your sentiment.