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Bitcoin Causes Graphics Card Sales Crash

Paul Rubens - April 27, 2018 - 09:20 AM
Bitcoin Causes Graphics Card Sales Crash
Collapsing Bitcoin prices have led to plunging sales of high-end graphics cards used for cryptocurrency mining.

(CCM) — The crash in the value of Bitcoin since the beginning of 2018 has led to demand for graphics cards to plunge by 40%, according to a Digitimes report.

Cryptocurrency mining operations have been huge buyers of graphics cards over the past year, leading to global shortages and increased prices.

"Channel distributors and larger mining farm operators have cut orders with makers of mining graphics cards and mining motherboards or asked them to suspend shipments due to the crypto mining craze waning abruptly from the beginning of April," a source said in the report.

The mining sales slowdown is good news for gamers and other buyers of computers with high end graphics cards because prices for the cards are likely to fall quickly over the summer.

But these price cuts could prove to be short lived, because many commentators expect Bitcoin and other cryptocurrencies to rebound later in the year, according to the report, leading to further shortages and price rises.

Many Taiwanese graphics card makers such as Gigabyte and MSI saw their shipments, revenues, and earnings per share hit new peaks in 2017 and the first quarter of 2018 thanks to the cryptocurrency mining bubble.

Image: © aztekphoto - Shutterstock.com
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Sorry, #Bitcoin is not a bubble anymore than television, cars, the internet, aircraft or computers are. It is a revolution that introduces proven security without centralization.

It is the only asset that you can own which no one can take away from you. You must choose to give someone bitcoin, which grants individuals power and rights. The only analogy to bitcoin is your love for another, which cannot be taken even in death and is the basis of much of what matters in life.

Because of this, it is the most valuable asset in the world and the price has not taken this into account yet.
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What if the bitcoin key is in a wallet that is on a USB that gets stolen? That is taken from you without your consent! These people are online and have no idea of what their Gmail password is, that is linked to a PAYPAL account, do you think they will really take into consideration to BACK up their wallet????
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