Thursday, May 12th 2022
Bitcoin Bloodbath Brings Cheer to Gamers as Graphics Card Prices Plummet
Bitcoin, along with most cryptocurrencies are going through a cycle of devaluation. They may rebound in the future, but for now it means that crypto miners will halt purchases of graphics cards, and possibly even sell what they have, to raise capital for next-generation GPU purchases (late-2022). What this means is a flooding of the market with used graphics cards, which will put tremendous pressure on graphics card manufacturers to lower prices. It's also a means for NVIDIA and AMD to clear out their current-generation inventory, to make room for the next-gen. The inflection of all these factors brings cheer to PC gamers, who can finally have an NVIDIA "Ampere" or AMD RDNA2 graphics card at prices that are either at or below MSRP (launch prices).
Bitcoin has crashed nearly 60%, from its November 2021 price of 65,000 USD, to 27,150, as of this writing. This will have a direct impact on the economics of mining cryptocurrencies using power-hungry high-end graphics cards. Those with mining farms will look to stop mining, and possibly get rid of some of their graphics cards while their market-value are still at an acceptable level. The competition between pre-owned graphics cards and brand-new ones from the market, will bring down prices of both.
NVIDIA recently announced the "Restocked and Reloaded" marketing campaign, where the company is reaching out to gamers, telling them that their RTX 30-series cards are back in stock, at MSRP pricing. AMD, on the other hand, has refreshed its RX 6000 series product stack with three new SKUs, signaling gamers that it has new hardware on the shelves.
An AMD Radeon RX 6900 XT can be had for as low as $899, which is also the price for the cheapest NVIDIA GeForce RTX 3080. The cheapest RTX 3060 Ti is $529, while the cheapest RX 6700 XT is $498. The cheapest RX 6600 XT is at $399, while the cheapest RTX 3060 is going for $419. Rejoice!
Bitcoin has crashed nearly 60%, from its November 2021 price of 65,000 USD, to 27,150, as of this writing. This will have a direct impact on the economics of mining cryptocurrencies using power-hungry high-end graphics cards. Those with mining farms will look to stop mining, and possibly get rid of some of their graphics cards while their market-value are still at an acceptable level. The competition between pre-owned graphics cards and brand-new ones from the market, will bring down prices of both.
An AMD Radeon RX 6900 XT can be had for as low as $899, which is also the price for the cheapest NVIDIA GeForce RTX 3080. The cheapest RTX 3060 Ti is $529, while the cheapest RX 6700 XT is $498. The cheapest RX 6600 XT is at $399, while the cheapest RTX 3060 is going for $419. Rejoice!
122 Comments on Bitcoin Bloodbath Brings Cheer to Gamers as Graphics Card Prices Plummet
Everyone's USDC rates are far above the typical 30-year bond rate of 3%. This is always what turned me off of stablecoins, there has to be a risk that they're not disclosing. The risk-free ways of handling this are like 0.5% (typical savings account).TIPS / I-bonds also have the risk that if (when??) inflation calms down (due to the fed raising interest rates), not only are bonds going to be yielding more (aka: higher interest rates), but inflation generally is lower than typical interest%. Ex: if 30Y are 5% or 6% by next year, and inflation is down to 2%, those TIPS / I-bonds are going to lose a ton of value.
IE: inflation-adjusted bonds have risks. The "risk-free" rate is considered the various US Treasury rates, not the inflation-adjusted rates.
That being said, I do acknowledge the external phenemena you see, I just don't partake in it. This is the best explanation I have seen:
www.coindesk.com/layer2/2022/03/07/why-stablecoin-interest-rates-are-so-damn-high/
@btarunr I have to say mate, I fucking love the title of this thread. :love:
That's exactly how they get you with those pre-builds, 2 or 3 cool specs and they get on the rest
There was even the "take this nice gpu and we even give you this nice explosive PSU and you save a ton of money when you no longer have a house mortgage to pay or house bils to pay"
Here are the AMD MRSP prices.
en.wikipedia.org/wiki/Radeon_RX_6000_series
Here are the NGreedia MSRP prices.
en.wikipedia.org/wiki/GeForce_30_series
I'm not buying into this. By the time this generation of video cards have come down to MSRP the next generation of video cards will be around the corner to launch.
AMD launched the new revisions to stabilize a set pricing range for as long as possible. They are just Copying what Ngreedia is doing.
They sure is hell not out of the kindness of their hearts.
As for the news: Finally! I really hope the crypto mafia bubble will crash as fast as it started.
Cause we know that UST had maybe $18 billion sunk into it. $8 billion escaped, but $10 billion remain in the black hole of nothingness from the collapse.
$10 billion or so basically vanished.
If those 4000/7000series come soon with correctly rumored performance for fair price, it would make current gpus pretty dumb, while new customers would be high, those who were ok to overspend would be tempted again to buy new better gpu....double sales. Its then just on avalability and pricing.