Bitcoin crackdown sends graphics cards prices plummeting in China after Sichuan terminated mining operations
Almost time to buy the gpu dip
Posted Jun 23, 2021, 10:46 AM UTC
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This is good for Bitcoin.
Because now there should be a strong incentive to get Bitcoin to be used as currency for purchasing consumer goods, as it was hopefully intended to be.
Except people wont. Bitcoin is, and continues to be, a token to be mined and then sold to speculators for USD rather than consumer goods.
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People won't because Bitcoin sucks as a medium of exchange.
Transaction rates and fees make it a no-go for most users.
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..and every transaction is a taxable event
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Technically it's not "Bitcoin crackdown", no one mines Bitcoin on graphics cards. Bitcoin, PoW, crypto confusing stuff.
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Stop calling them Kleenex when they are clearly off-brand tissues!
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Short Nvidia
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Long the banksters.
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mining is such a waste of resources, it is amazing how we as human use so much computing power to work towards a nothing.
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Butt sudoko
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What NOT to do on Local Bitcoins 1.Tust anyone.
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Huh, but crypto people have insisted so many times that the GPU shortage has nothing to do with crypto... who to believe...
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Well this is a stupid headline. Nobody mines bitcoin with graphics cards anymore because they can't keep up with ASICs. Bitcoin crackdown should have nothing to do with graphics card prices.
2†
Shitcoins do, and are very correlated
42
ETH wants your graphics cards
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The subhead also says "cryptocurrency mining" so I think it's safe to assume they're cracking down on any kind of mining
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Plenty of people use GPUs to mine other coins which they automatically convert to bitcoin, though.
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The currency that is part of your username is primarily mined using GPUs
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The currency that is part of your username is primarily mined using GPUs
No it isn't. It's extremely inefficient and slow to mine it with GPUs. The vast majority (probably 99%) mine it with CPUs. It's literally designed to only work efficiently on CPUs.
You probably shouldn't try to tell people about the currency in their username when you know nothing about it.
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True but big farms mine all kind of coins with different hardware. I think only recently ETH had ASICs machines for ethash, correct me if Im wrong.
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Bitcoin crackdown should have nothing to do with graphics card prices.
Rumours and random news has always fluctuated crypto-prices, why should last years hardware be any different?
There is nothing rational about any of this.
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finally gamers will game for gaming sake. clownworld is taking flight and leaving finally
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There'll be another scam soon enough - the mindset won't go away even if crypto does. Tbh I'm kinda excited to see what it is after the sophistication of this one.
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Graphics cards from companies including Nvidia and Asus
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Soon there will also be a flood of cheap worn out hard drives due to the chia cryptocurrency losing steam with the rest
I'm sure those won't impact the environment at all, the scam has a green logo and even a leaf in it!
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Chia is write once and read only after that yeah? Might not be a terrible idea to buy these second hand for media storage…
Yeah, Chia as a workload seems to be read-heavy, but Chia miners seem to move the generated files around in some cases, so the given workload on a given drive could vary.
If one were repurposing Chia drives, applications that can tolerate failure, such as scratch drives (temporary work areas for certain programs/processes) or being members in a RAID array are probably the best.
Checking the diagnostic/SMART output would probably be a good idea too.