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Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability

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rjohnson11
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2022/01/22 00:46:07 (permalink)
https://www.techpowerup.com/291186/bitcoin-drops-below-the-usd-40-000-mark-raises-hopes-of-graphics-card-availability
 
The most popular cryptocurrency by market-cap, Bitcoin, has dropped in value to below the USD $40,000-mark, to $38,429 as of this writing. This amounts to a whopping 43% drop in value from its November 2021 peak of roughly $67,600. Ethereum has also seen an 8% fall over the past 24 hours, as has the value of several other cryptocurrencies. While we won't get into the nuts and bolts of Bitcoin volatility or hand out any financial advice, this could have an impact on graphics card availability owing to a multitude of reasons.

As of this writing, we see the GeForce RTX 3080 commanding a scalper price of roughly $1,500 (brand new), for the LHR variant (lower crypto-mining performance), while non-LHR cards that are used, start around $1,900. If the fall in cryptocurrencies continues, we could see increased availability of used graphics cards from crypto miners, as gamers would be willing to buy a used RTX 30-series or RX 6000 series graphics card that's still within its warranty period (of 2 years).
 
Sales of used cards by miners will apply pressure on scalpers hording new cards to cut prices, more so as they'd be trying to sell newer batches of RTX 30-series cards that are LHR. Add to all this, the next-generation crypto-mining ASICs are on the anvil, including Bitmain's Antminer S19 XP, and Intel's "Bonanza Mine" ASIC that the company plans to unveil next month. The arrival of ASIC miners usually triggers an increase in the mining difficulty algorithm, which should worsen the performance/Dollar of GPUs in mining applications. The compound effect of all these, we predict, could briefly improve graphics card availability in 1H-2022. A continued fall in the value of cryptocurrencies will only accelerate this.
 
In my personal opinion digital currencies will need to fall much further before GPU demand begins to recede. 

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    Ted-K
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    Re: Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability 2022/01/22 05:10:10 (permalink)
    Well, lets hope that the dive will continue... I mean it has always been a gamble... mining... so maybe they can afford to lose some. Also electricity is getting more and more expensive... let them burn, they ruin everything!
    #2
    the_Scarlet_one
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    Re: Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability 2022/01/22 05:12:11 (permalink)
    As crypto has dipped numerous times over the past few years, and the “bubble” has busted more than one, I doubt it will stay down for long. I would assume the big crypto gangs are hoping the smaller crowd will dump their gear so they can get more profit to themselves.
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    Miguell
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    Re: Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability 2022/01/22 05:16:02 (permalink)
    Ted-K
    Well, lets hope that the dive will continue... I mean it has always been a gamble... mining... so maybe they can afford to lose some. Also electricity is getting more and more expensive... let them burn, they ruin everything!




    same here! its a gamble.
    these gamblers must be willing to lose heavily if that happens...

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    Flint 1760
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    Re: Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability 2022/01/22 05:22:08 (permalink)
    At this point, any change in GPU availability would probably be negligible. 
     
    Just as a point of interest, Russia is considering banning crypto the same as the PRC (Source: Reuters), so there may be a lot of relocation out of Russia.


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    SunnyBeach
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    Re: Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability 2022/01/22 05:31:50 (permalink)
    I love how Crypto was supposed to be this free from market influence thing but flows with the stock market like a flock of birds. If GPU prices drop much or ever hit retail again, I will buy two and give them to my adult children.


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    Grey_Beard
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    Re: Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability 2022/01/22 06:38:00 (permalink)
    It will continue its fall until Ponzi starts buying again to manipulate that market.  This is about as free market an item as the criminals and black market would like it to be.  Love how this was to be the common man’s currency until it never was.



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    GTXJackBauer
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    Re: Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability 2022/01/22 07:23:26 (permalink)
    Once it's start jumping, presumably speaking around the 4000 series so they can mine on more powerful GPUs, it will rise again.

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    Miguell
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    Re: Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability 2022/01/22 09:19:31 (permalink)
    GTXJackBauer
    Once it's start jumping, presumably speaking around the 4000 series so they can mine on more powerful GPUs, it will rise again.



    here we go again....  gen 3000 scalpers/miners movie all over again...  ~
    it feels we are going in circles...

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    bakatz91
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    Re: Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability 2022/01/22 13:57:16 (permalink)
    I don't think this will have any effect on the market any time soon. Ethereum, not Bitcoin, is the most profitable cryptocurrency to mine with GPUs. Also, miners will just move onto another cryptocurrency once Ethereum, etc move to a proof of stake model which will not happen in the near term. Supply issues may only resolve once additional factories are built and new production capacity comes online.


     
     
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    Miguell
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    Re: Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability 2022/01/23 02:30:51 (permalink)
    bakatz91
    (...) Supply issues may only resolve once additional factories are built and new production capacity comes online.




    you do realize that more production equals more scalping? right? it doesn't matter the production amount
    because these people or organizations will buy everything out there >> including stealing if necessary  like that case of stolen EVGA GFX cards that appeared magically  in Vietnam!
     
    https://forums.evga.com/Stolen-EVGA-RTX-30-cards-make-their-way-to-the-other-side-of-the-planet-m3511665.aspx
    post edited by Miguell - 2022/01/23 02:42:54

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    GTXJackBauer
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    Re: Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability 2022/01/23 12:00:29 (permalink)
    Miguell
    bakatz91
    (...) Supply issues may only resolve once additional factories are built and new production capacity comes online.




    you do realize that more production equals more scalping? right? it doesn't matter the production amount
    because these people or organizations will buy everything out there >> including stealing if necessary  like that case of stolen EVGA GFX cards that appeared magically  in Vietnam!
     
    https://forums.evga.com/Stolen-EVGA-RTX-30-cards-make-their-way-to-the-other-side-of-the-planet-m3511665.aspx




    Not necessarily.  Once all these fabs come online, imagine a boat load of production which should balance it out and not make it worth the risk to scalpers because of the abundance of supply.  Overtime scalpers will get burned and or break out even moving them to another product or industry where they can make the profits.  Again, hopeful supply and demand will balance itself.

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