Wednesday, June 7th 2017
Ethereum Mining Wipes Out Radeon Inventory, AMD Stock Rallies
AMD Radeon graphics cards have always been too good at GPGPU for their own good. The new Ethereum block-chain compute network, with the Ethereum crypto-currency, works really really good with AMD Radeon Graphics CoreNext architecture-based GPUs (that's every AMD GPU since Radeon HD 7000 series). As a result, not only have Ethereum prospectors bought out nearly all inventory of AMD Radeon graphics cards from the market, but also forced an inflation of used AMD Radeon graphics cards on online tech-forums, and used-goods stores on eBay and Amazon. Some of these used cards are priced higher than even launch-prices.
Every $1,000 spent on AMD Radeon hardware towards Ethereum mining is recovered within 2 months, and then as long as your hardware lasts and you're paying your power bills, you're swimming in crypto-currency that can be converted to Bitcoin and even US Dollars. One Ethereum (ETH) exchanges to USD $265 at the time of this writing. There's already $330 million worth Ethereum being traded, and that number is only going to grow as people sell USD or BTC to buy ETH and pay for entry into the Ethereum network, and use ETH as a crypto-currency.
AMD is at the receiving end of this mad rush to grab up Radeon graphics cards. The company's stock surged nearly 9 percent on Tuesday (6th June). Those shorting (betting against) the AMD stock have been inflicted with heavy losses. "As of Monday, AMD short-sellers had been up about $15 million for 2017. But Tuesday's share surge left them at a loss of $125 million on paper for the year," writes Reuters, citing S3 Partners, a financial analytics firm. The AMD stock was also bolstered by Apple's announcement of new iMac, iMac Pro, and Macbooks that use AMD Radeon graphics chips.ETH-USD chart by Coingecko, Source: Reuters
Every $1,000 spent on AMD Radeon hardware towards Ethereum mining is recovered within 2 months, and then as long as your hardware lasts and you're paying your power bills, you're swimming in crypto-currency that can be converted to Bitcoin and even US Dollars. One Ethereum (ETH) exchanges to USD $265 at the time of this writing. There's already $330 million worth Ethereum being traded, and that number is only going to grow as people sell USD or BTC to buy ETH and pay for entry into the Ethereum network, and use ETH as a crypto-currency.
106 Comments on Ethereum Mining Wipes Out Radeon Inventory, AMD Stock Rallies
I add my two cents as, if you have nothing invested, why do you care what others do with their money, time, and electricity? Sure we could have a discussion about energy use and its effects, but perhaps the contracts being filled by the "mining" are for weather prediction, or for drug research, or for....who cares... Maybe its just a bunch of people doing something for fun, like racing in a fucking circle, jumping horses over painted wood, jumping around in tights to music of varying sorts, or staring at a screen.... doesn't make a damn bit of difference to me. What it does do however, is allow for a change in banking, companies that still hold trillions of fake money, loaned and re-loaned out on interest and then they hold tens of thousands of dollars of money each day in hopes of NOT having to borrow from the financial reserve so they don't have to pay anymore interest and can make more money and blame it on batch processing and other BS as no one has been incentivized to change the fundamentals of current banking.
And crypto mining Is just that for many, a private enterprise, I folded for about seven years, will do again once im done mining a bit but i do both inline with one core reason .
Messing with tech on my own small scale is what i Enjoy doing ,this is in part an extension of my hobby ,and that which makes me smile.
I likely wouldn't be on here if i loved football as much now, or knitting.
I do also like debating tech so im in for the argument.
Like many i would have been a millionaire had i mined instead of folded and i don't feel like missing out this time.
Call me what you want i earn my money the 9-5 way and i don't see any issues with trying to earn more legally after hours and to call others for doing so is very short sighted imho i could use more resources for my hobby for eg ,ive not been on a plane in 7years ,i could have done a fair few trips but i was Ocin something instead.
Cryptocurrencies are the future, and seeing people like you become forced to use them in 10 years will be very satisfying.The 290X was used to mine Litecoin and Darkcoin.
7950's were for Bitcoin, and just barely. Bitcoin became unprofitable to mine in 2012.
We could have a philosophical discussion about the natural order and how laws, rules, and regulations are restrictions on natural freedoms, but I think we all understand the fundamentals of what we mean.
reminds me of some Whitest Kids You Know.
Now things like DASH do indeed make it effectively impossible to track transactions.
I passed an opinion , i didn't quote as fact and despite you starting out dissagreeing your final words align with what i said , customer goes elsewhere.
@ stevo read my post , i question the viability of fedcoin , certainly not it or any other coins traceability ,but they are used as i said by the hopefully anonymous.
Bitcoin isn't going anywhere, and altcoins continue to become more effective and easy to use. People want to use them, and so they are used (Even in non-free countries like Russia).
And by the way, it doesn't matter if governments want people to use them lol. It isn't up to them, and they have nearly no means of stopping their use. Even in a country like Russia or Iran where they can clamp down on the internet and communication like it's the book 1984, there are blackmarket interwebs free from constant Surveillance. In fact several cryptocurrencies such as DASH, Stratus, and MadesafeCoin are working to build entirely a new Internet!
Post your silly Anarchy videos and backhanded comments all you want because I will again say you are just proving you don't know what you are talking about. People who support crypto aren't anarchists, they just want to be able to send any money they have; anywhere they want; for free; instantly; and without some third party getting in the way. Common sense buddy ;)
I have done financials for companies and for myself, taxes in the US and understand that sure, in other countries they might not be able to track it, but here in the US if I pull $20 out of a bitcoin ATM the company running that ATM has a checks and balance system in effect for X user withdrew $20 from account 00000000001 at XX:XX time, and they reconcile that against their cash purchases from Guarda, Loomis, or whatever bank they are using for funding. My GF works for Wells Fargo and we have these types of discussions with her friends from work as well. The only thing not tracked is coinage. You are absurdly nieve to think that Bitcoin and other crypto currency isn't tracked to at least some degree. But thanks for the bold www.forbes.com/sites/andygreenberg/2013/09/05/follow-the-bitcoins-how-we-got-busted-buying-drugs-on-silk-roads-black-market/#52ca9843adf7 but useless info.
I have worked in IT for a long time, and anything done, can be undone especially when it comes to security as it all requires some log of actions, like the blockchain itself.
If you end up widely branded as naive/uninformed/stupid/etc. you should at least entertain the possibility that well - your opinion might be the retarded one instead of the thing you have low opinion of ;)
This is not though policing - it is the reality of social interaction lol
Ill explain this to you, freedom of speech only means the government wont prosecute you, it says nothing about privately owned websites.
So yeah, the owner of any website can ban you and delete your comments as much as they want