It looks like GPUs are dropping in price due to a recent development in the Bitcoin market.
Recently a South Korea exchange site, Bithumb, was hacked and lost a total of $31.5 million. They’re not sure who did it, but they’re assuring customers that those who’ve been impacted with the hacking will get refunded. But alas, that moment has now caused Bitcoin’s value to take a dip below $7,000, a new low for the currency in recent months. Unfortunately, this isn’t the only thing to happen Bitcoin, they’ve been battling frauds and scams since April, and since then they’ve dropped so far from a value of $20,000 that it almost looks like they’ll never get back up there.
So, of course, in response to these events, GPU prices are being cut down, albeit not by much so far. A lot of the card manufacturers still have a gross margin of around 20%, which is down from the 50% they were having in the cryptomining phase, but well above the 8-10% they had before cryptocurrency became as huge as it is. However, it doesn’t look very good for the future of everyone’s favorite cryptocurrency, as more and more restrictions come down on it and so many governments are trying to take control. It’s already been happening with a lot of the smaller mining farms are pulling out while the larger ones are scaling back.
This past year saw the biggest rise of Bitcoin and Cryptomining the internet has seen, never before had it become so viable to mass stock graphics cards and run a computer all day for Bitcoin. Honestly, I don’t know whether to laugh or cry at the nation we’ve become, writing that. But nonetheless, the little guys are going to be able to buy viable GPUs in the near future, and the internet will go on to its next big thing.
Hopefully, we can get past this, seeing as only those with a good amount of cash to blow on absolutely nothing would be able to make viable cash mining data. All I want to do is play video games, man, if my GPU blows out for no reason whatsoever like it did two years ago I don’t want to be screwed into spending my life’s savings on something that will allow me to play the new Fallout.