Bitcoin Bloodbath Brings Cheer to Gamers as Graphics Card Prices Plummet

[dragontamer5788]

About as much as circles usdc I'd wager. If you think 100% of their deposit assets are liquid, well, I can promise you they aren't.

If USDC is backed by a dollar, then why is Gemini Earn offering 6.36% APY on USDC deposits?

PayPal offers realistic return rates on dollar deposits. Something funky is going on with Gemini or USDC here.

There is no risk-free AAA bond or security earning that amount in a short term deposit account.

------

PayPal, as a bank, is required to be backed by short term money market accounts, real dollars, and US Bonds (which at best, yield 3% right now)

Since Gemini can offer 6+% and still make a profit on USDC, that basically proves that USDC is being backed by something riskier than money market and bonds.

 

[R-T-B]

then why is Gemini Earn offering 6.36% APY on USDC deposits?

I can only speculate what gemini earn is up to, the actual USDC APY is lower at 0.15% (google it), but I would point out that's probably in line with inflation at the moment.

Something funky is going on with Gemini or USDC here.

I agree, and would not trust Gemini on that fact alone.

 

[dragontamer5788]

I can only speculate what gemini earn is up to, the actual USDC APY is lower, but I would point out that's probably in line with inflation at the moment.

USDC USDC Lending Rates: Compare best APY

Earn up to 20% APY on USDC USDC. Compare lending rates from more than 22 leading platforms including Nexo, Syrup and Wirex.

bitcompare.net

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).

in line with inflation at the moment.

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.

 

[R-T-B]

Everyone's USDC rates are far above the typical 30-year bond rate of 3%.

Well you are looking across the wild crypto marketplace, not at the coin itself. Not only that but the site you use appears to be ranking by return rate, not credibility. I have never heard or used of any of the sites listed, and would advise against it. Of course many are playing fast and wild with their books. Crypto is still the wild west and you need to use common sense, but don't blame the currency for that. USDCs only real native coin rate is 0.15% APY.

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:

Why Stablecoin Interest Rates Are So Damn High

Or, why Jeremy Allaire can't stop printing.

www.coindesk.com

 

[R0H1T]

and relies on faith.

Missed the top of the page

 

[Icon Charlie]

Hi,
Just checked local micro center
There is no plummet only new thing is reserve is live on instock gpu's so fake news on the plummet bit

I agree with this comment. I'm not buying all of the hype right now.

 

[Space Lynx]

I agree with this comment. I'm not buying all of the hype right now.

CyberpowerPC has a 6800 XT and 11700k rig for $1348 with promo code right now. I don't like them as a company, but yeah prices are coming down hard... that's cheaper than building it yourself damn near.

@btarunr I have to say mate, I fucking love the title of this thread.

 

[Bomby569]

CyberpowerPC has a 6800 XT and 11700k rig for $1348 with promo code right now. I don't like them as a company, but yeah prices are coming down hard... that's cheaper than building it yourself damn near.

@btarunr I have to say mate, I fucking love the title of this thread.

Sure and you get a bad case with no airflow, bad cpu cooler, a gpu with a shitty cooler, bad ssd or bad motherboard, or even all of the above. And they all destroy the overall performance.
That's exactly how they get you with those pre-builds, 2 or 3 cool specs and they get on the rest

 

[Space Lynx]

Sure and you get a bad case with no airflow, bad cpu cooler, a gpu with a shitty cooler, bad ssd or bad motherboard, or even all of the above. And they all destroy the overall performance.
That's exactly how they get you with those pre-builds, 2 or 3 cool specs and they get on the rest

I have spare parts to fix all of that actually, most people don't though I know. Also, that wasn't my overall point, my overall point was that prices are coming down regardless.

 

[Bomby569]

I have spare parts to fix all of that actually, most people don't though I know. Also, that wasn't my overall point, my overall point was that prices are coming down regardless.

there's tons of YT videos with people doing that (buying pre builds because they could get a cheaper gpu then buying just the gpu alone) even in peak crisis mode for gpu prices. I don't think anything changed there besides you finding that out now

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"

 

[Space Lynx]

there's tons of YT videos with people doing that (buying pre builds because they could get a cheaper gpu then buying just the gpu alone) even in peak crisis mode for gpu prices. I don't think anything changed there besides you finding that out now

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"

Redux PC does a great job on pre-builds, seen it first hand. Problem is they are still pricier than all the other places. I guess it is just like anything else out there... you pay for what you get.

 

[Icon Charlie]

CyberpowerPC has a 6800 XT and 11700k rig for $1348 with promo code right now. I don't like them as a company, but yeah prices are coming down hard... that's cheaper than building it yourself damn near.

@btarunr I have to say mate, I fucking love the title of this thread.

To be honest that is not so bad, however the pricing as of this moment for those video cards are not what they should be.

Here are the AMD MRSP prices.

Radeon RX 6000 series - Wikipedia

en.wikipedia.org

Here are the NGreedia MSRP prices.

GeForce 30 series - Wikipedia

en.wikipedia.org

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.

 

[Aquinus]

This might be a hot take, but let it burn. GPU prices might still be inflated for obvious reasons, but I won't shed a single god damn tear for crypto.

 

[AusWolf]

"I can't tell you how to get rich quick; but I can tell you how to get poor quick: namely, by trying to get rich quick."

- André Kostolany



wiki

It's just become one of my favourite quotes, thanks!

As for the news: Finally! I really hope the crypto mafia bubble will crash as fast as it started.

 

[caroline!]

ngl, I dislike gamers and (big/corporate) miners equally, but I just want the NFT scammers and their obvious money laundering scheme to be gone for good.

 

[Icon Charlie]

ngl, I dislike gamers and (big/corporate) miners equally, but I just want the NFT scammers and their obvious money laundering scheme to be gone for good.

I would love that too unfortunately in this society people believe in short term profits in any way possible.

 

[duncaniso]

Not gonna lie, I'm looking forward to the next batch of "idiots invested everything into crypto and now lost their house" news stories. Crypto never has and never will be anything more than a get-rich-quick scheme that parts fools from their real money.

Except BTC and ETH have a combined market valuation of 750Billion $.

 

[Assimilator]

Except BTC and ETH have a combined market valuation of 750Billion $.

A market valuation based on fuck all is worth fuck all.

 

[R-T-B]

A market valuation based on fuck all is worth fuck all.

It's based on real dollars sunk into it.

 

[dragontamer5788]

It's based on real dollars sunk into it.

How many of those dollars are real, and how many of them are UST, USDT, or otherwise?

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.

 

[R-T-B]

How many of those dollars are real, and how many of them are UST, USDT, or otherwise?

That is the multimillion dollar question.

 

[Gstorm CZE]

3060 MSRP was 329USD 2y ago, so it has still alot of room to go lower.....same with everything around. Budget is most funny....offering 1050TI for its 5y old price, newer gpus like RX6500 are just double performance of 5y old stuff for just double price, so no improvement yet for this most important part of market.
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.

 

[AusWolf]

3060 MSRP was 329USD 2y ago, so it has still alot of room to go lower.....same with everything around. Budget is most funny....offering 1050TI for its 5y old price, newer gpus like RX6500 are just double performance of 5y old stuff for just double price, so no improvement yet for this most important part of market.
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.

If that happens, then prices will go up because demand will be high, so the whole cycle will start all over again.