The anti-crypto thread

[BFG10K]

Great news, crypto's collapsing across the board: https://www.techpowerup.com/282380/...ions-in-less-than-24-hours-did-the-bubble-pop

Also China's banned crypto, though individuals can still have it: https://finance.yahoo.com/news/chinese-financial-payment-bodies-barred-122712260.html

The sooner this cancerous parasite is wiped out, the better.

 

[ultimatebob]

Today, Musk said that Tesla will probably start allowing bitcoin payments again, which is a large part of the spike in price today.

Oh, and he also said that he personally holds Ethereum.

Good luck with the collapse.



It sucks ( I would love to upgrade my 2060 S), but it doesn't make sense to hope for a crypto collapse that isn't happening any time soon.

Once semiconductor shortages finally alleviate, proof of stake becomes the norm, and Intel enters the GPU arena, then maybe things will get better.

The more Elon Musk rambles about cryptocurrency, the less effect it seems to have. Look at the latest tweets about Dogecoin that he made... they had almost no impact on the recent price slump. I think that many people have realized that Elon doesn't really give a damn about crypto, and just likes seeing his name on the list of Twitter trending topics.

Honestly, it seems that only way to make "easy" money in crypto now is to figure out the next obsecure crypto that's going to spike in price and buy in early. Something tells me that the next "Jesuscoin" isn't going to be one of those new Dogecoin clones, but might be something that we haven't even heard about yet.

 

[amenx]

The more Elon Musk rambles about cryptocurrency, the less effect it seems to have.

Yep, the markets like consistency, not someone who says one thing one day then reverses himself another day.

 

[Mopetar]

I don't think the cryptocurrency market has shown itself to be particularly normal in most regards.

 

[BFG10K]

EU plans to prohibit anonymous crypto transfers and wallets:

European Commission plans to prohibit anonymous crypto transfers and wallets

The European Commission (EC) proposals presented this week aim to protect EU citizens and the EU's financial system by enforcing its anti-money laundering (AML) and countering terrorism...

www.techspot.com

This will almost certainly pass I think.

Also I got a nice email from "The Coinbase Team", AKA phishing. I've never touched any form for Crypto:

We need to collect some identity information from you in order to comply with new financial regulations. Verifying the identity of our customers helps ensure that everyone can continue to use our products and services in a safe and secure way. We appreciate your help with this process.
If you don't verify your identity by 18 July 2021, your account will be limited to withdrawals and you won't be able to use Coinbase for buying, selling, converting, and receiving crypto. You will still be able to withdraw your crypto assets until 21 July 2021, after which you'll need to verify your identity to continue using your account for transacting.
Verify Identity
Thank you,
The Coinbase Team

 

[VirtualLarry]

Vosk is suggesting selling GPUs, that GPU mining (specifically) is dying off, when ETH moves to PoS.

 

[A///]

are they still problematic if they were undervolted and were run 100% 24/7? seems to me like that would not damage the card in the short term.

I can't tell you for sure. After the last crypto boom, I looked into some videos a youtuber I follow or followed did. Small time guy. He had argued that the cards are usually tuned for efficiency by bigger operations and that the environment is much better than the typical mid or full tower case in terms of air flow and cooling. I'm not entirely sure how accurate that representation is to be frank with you.

 

[jpiniero]

Amazon is hiring a digital currency and blockchain expert, signaling a growing interest in cryptocurrency

Currently, Amazon doesn't accept any cryptocurrencies as payment for its products.

www.cnbc.com

Amazon is making their own coin.

 

[ultimatebob]

Amazon is hiring a digital currency and blockchain expert, signaling a growing interest in cryptocurrency

Currently, Amazon doesn't accept any cryptocurrencies as payment for its products.

www.cnbc.com

Amazon is making their own coin.

Of course they are! Amazon hates open standards almost as much as Apple does.

But, hey... you know that they'll probably be giving Prime members $20 worth of the stuff to spur adoption of it, so it's not all bad. I'd imagine that it will be like when they opened their own Android app store, and offered $30 of "free" premium Android apps once you signed up.

 

[amenx]

Bitcoin surging.

Bitcoin

Bitcoin USD price, real-time (live) charts, news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more.

www.coindesk.com

 

[MustangSVT]

the the GPU prices are still insane. What's more alarming is that now people are getting getting comfortable getting a gpu for $500 even for mainstream level. Thanks god damn useless miners.

 

[Glo.]

the the GPU prices are still insane. What's more alarming is that now people are getting getting comfortable getting a gpu for $500 even for mainstream level. Thanks god damn useless miners.

You do realize, that miners bought laptops for mining and it didn't even made a dent in laptop supplies?

You know why? Because the shortage is not caused by miners, but by incredible consumer demand. Desktop DIY got roughly 10% of all of manufactured products, everything else went directly to OEMs and large clients.

Its consumers, themselves who caused this shortage, and inflated prices. Mining helped, but not by the amount they should be blamed.

 

[ultimatebob]

the the GPU prices are still insane. What's more alarming is that now people are getting getting comfortable getting a gpu for $500 even for mainstream level. Thanks god damn useless miners.

Yeah... the Newegg Shuffle is now charging $649 for GeForce 3060 Ti's. That's almost seeming like a "normal" price for it now, even though MSRP for that card was supposed to be $399. So... we're basically working our way up to 2X normal retail prices now, from the actual retailers!

Basically, Newegg is basically cutting off the scalpers at this point by becoming the scalper themselves I'm suprised that someone hasn't filed a price gouging complaint against them yet.

 

[Stuka87]

You do realize, that miners bought laptops for mining and it didn't even made a dent in laptop supplies?

You know why? Because the shortage is not caused by miners, but by incredible consumer demand. Desktop DIY got roughly 10% of all of manufactured products, everything else went directly to OEMs and large clients.

Its consumers, themselves who caused this shortage, and inflated prices. Mining helped, but not by the amount they should be blamed.

This is a false equivalency.

Just because some miners purchased laptops, does not mean all did. Unless you have actual data to back this up. From what I have seen, as from has been posted here, the argument you are giving is one created by miners to suggest that they are not the cause of the high GPU prices.

But actual data shows that miners are in fact the root cause of GPU price hikes.

 

[aigomorla]

39k.... sigh...

ETH @ 2.3k...

GG videocards 2021... Its all VAPORWARE... oh wait... im sitting on a 3090 which btw wont play the game i want to play without extensive mods to the backplate.

 

[Glo.]

This is a false equivalency.

Just because some miners purchased laptops, does not mean all did. Unless you have actual data to back this up. From what I have seen, as from has been posted here, the argument you are giving is one created by miners to suggest that they are not the cause of the high GPU prices.

But actual data shows that miners are in fact the root cause of GPU price hikes.

Not some.

25% of laptop sales went to miners. Dude, MINERS WERE MINING ON PS4's, even! Thats how this market was desparate.

The priority for companies like AMD and Nvidia, Intel is always this: contracts with OEMs, first, THEN sales of overstocked products to clients in DIY market.

THAT IS HOW IT HAS BEEN FOR PAST FEW YEARS.

The cause for high prices, is not the miners, but the stupidly high demand, like we have NEVER seen before. Its many times higher than even in 2017/2018 mining craze. Why? Because this demand is not caused by miners, but by consumers, themselves.

 

[Glo.]

39k.... sigh...

ETH @ 2.3k...

GG videocards 2021... Its all VAPORWARE... oh wait... im sitting on a 3090 which btw wont play the game i want to play without extensive mods to the backplate.

We still do not have 5th Impulsive Elliot wave of this Bull Run, so be prepared. When it will go - nothing will be the same as it is now .

 

[Fanatical Meat]

We still do not have 5th Impulsive Elliot wave of this Bull Run, so be prepared. When it will go - nothing will be the same as it is now .

I’ll trade you my 1660ti for your 3090.
No backplate mods required. I have heard it runs new world at high frame rates.

 

[maddie]

We still do not have 5th Impulsive Elliot wave of this Bull Run, so be prepared. When it will go - nothing will be the same as it is now .

Nothing will be the same is right.

 

[Stuka87]

Not some.

25% of laptop sales went to miners. Dude, MINERS WERE MINING ON PS4's, even! Thats how this market was desparate.

The priority for companies like AMD and Nvidia, Intel is always this: contracts with OEMs, first, THEN sales of overstocked products to clients in DIY market.

THAT IS HOW IT HAS BEEN FOR PAST FEW YEARS.

The cause for high prices, is not the miners, but the stupidly high demand, like we have NEVER seen before. Its many times higher than even in 2017/2018 mining craze. Why? Because this demand is not caused by miners, but by consumers, themselves.

Where did this 25% number come from? Just did a search and I am not seeing any articles with numbers, just that it is supposedly happening. Though prices and availability seem to disprove it being any significant amount. Being that 24 million laptops were sold in Q1 of 2021, 25% is an absurdly high number of laptops being used by miners.

The only case of PS4's being used that I have heard of was the one in Ukraine that was mining Fifa Tokens, not crypto.

 

[Ninjak]

Anyone notice that the BTC transaction cost is now down to about $2 USD? That's still too high, but at least it isn't approaching $100 like a few months ago. It doesn't make sense for anyone to pay for their socks on Amazon using BTC, but it could work for some transactions. But what's going to happen during the next rally? "Sorry, don't spend your BTC this month unless you're willing to pay a fortune because there's no room on the blockchain" doesn't sound like a compelling currency.

 

[Fanatical Meat]

39k.... sigh...

ETH @ 2.3k...

GG videocards 2021... Its all VAPORWARE... oh wait... im sitting on a 3090 which btw wont play the game i want to play without extensive mods to the backplate.

I’ll trade you my 1660ti for your 3090.
No backplate mods required. I have heard it runs new world at high frame rates.

 

[GodisanAtheist]

Where did this 25% number come from? Just did a search and I am not seeing any articles with numbers, just that it is supposedly happening. Though prices and availability seem to disprove it being any significant amount. Being that 24 million laptops were sold in Q1 of 2021, 25% is an absurdly high number of laptops being used by miners.

The only case of PS4's being used that I have heard of was the one in Ukraine that was mining Fifa Tokens, not crypto.

-Don't you know 86.7% of statistics on the internet are made up?

 

[DisarmedDespot]

30k to 40k to 36k. WHEW. And I was just gonna say that sticking at around 30k for a while might actually encourage people to use crypto as a currency.

This has been a crazy day. One (1) Amazon job posting causes damn near all cryptos to jump up 15%, but there were so many damn rumors flying. Amazon's gonna accept bitcoin soon! Short squeeze imminent! Peeps are dumping Tether (based on another rumor of them about to be charged with bank fraud) for Bitcoin! I can't keep it straight.

And then Amazon has to pour water over the fire when it was getting fun.

Seriously, though, I'm gonna be shocked if anything comes of it. It's one position and crypto projects have an amazing success rate of damn near zero percent. Maybe Amazon can pull a rabbit out of their hat, but big corporations like Microsoft, IBM and Facebook all played with crypto before and either saw it peter out (MS and IBM) or saw it blow up in their face (Facebook's Libra).

 

[aigomorla]

sigh i still want a 3070/3080 non ti version as a secondary card to drive my other 4k monitors so i can dedicate the 3090 to my main display + VR.

Otherwise i run out of Display Ports... i have 3 monitors + 1 TV connected to my PC.... :\
Add VR, and a single card just can't do it, which is why i can't retire this 1080ti until i find a replacement.

But i refuse to pay for what i paid on my 3090 for a 3080 or double msrp on 3070.

 

[DrMrLordX]

We still do not have 5th Impulsive Elliot wave of this Bull Run, so be prepared. When it will go - nothing will be the same as it is now .

You don't win the Internet unless you mention the alligators.

Anyone notice that the BTC transaction cost is now down to about $2 USD?

Strange. Wonder why . . .