"Most Cryptocurrencies' Value Could Hit Zero", Warns Goldmann Sachs Analyst

[R-T-B]

To be fair, some us make a living on the sale of PC's and parts for upgrades. It is getting very irksome.

Make mining rigs. Adapt to the market?

I'm serious. This is a profitable enterprise there, not a downturn.

 

[cdawall]

To be fair, some us make a living on the sale of PC's and parts for upgrades. It is getting very irksome.

I haven't had an issue ordering parts from venders. If you are making a living buying and selling I assume you have a reseller license and can order direct. I can get just about any msi/zotac products at basically msrp

 

[lexluthermiester]

Make mining rigs. Adapt to the market? I'm serious. This is a profitable enterprise there, not a downturn.

I know you're serious, and no offense is intended. It's a deminishing return market. The longer cryptocoins are mined, the fewer are found and the harder it becomes. Not only that but most people either don't have the technical know-how or have no interest. Haven't had even one person ask me to help them build a mining rig. It gets talked about but no one even thinks about it seriously. This is a market for the elites. People like me cater to the average user, business', governments and gamers.

 

[mcraygsx]

Lets put a HALT to this before CPU's become next target for miners.

 

[lexluthermiester]

Lets put a HALT to this before CPU's become next target for miners.

That's already happened. Actual Bitcoin and it's derivatives run on CPU's primarily. Etherium and it's cousins, were designed to run on GPU's.

 

[R-T-B]

I know you're serious, and offense is intended. It's a deminishing return market. The longer cryptocoins are mined, the fewer are found and the harder it becomes. Not only that but most people either don't have the technical know-how or have no interest. Haven't had even one person ask me to help them build a mining rig. It gets talked about but no one even thinks about it seriously. This is a market for the elites. People like me cater to the average user, business', governments and gamers.

No offense intended and I know it's not your standard audience. Try ebay maybe? Meh, just trying to have you make lemonade from lemons.

 

[cdawall]

That's already happened. Actual Bitcoin and it's derivatives run on CPU's primarily. Etherium and it's cousins, were designed to run on GPU's.

Those all run on ASIC's the only algorithm snagging heavily off of traditional CPU's right now is cryptonight which has jack shit to do with bitcoin.

 

[kuwlness]

Dai, Crypto, Dai!

Stablecoin Dai? This guy knows what's up

 

[R-T-B]

That's already happened. Actual Bitcoin and it's derivatives run on CPU's primarily. Etherium and it's cousins, were designed to run on GPU's.

No, bitcoin runs on ASICs. There are cpu coins but they aren't very profitable and never will be because parrellism.

 

[cdawall]

No, bitcoin runs on ASICs. There are cpu coins but they aren't very profitable and never will be because parrellism.

Well couple of cryptonight coins are profitable, but GPU's mine them better. Doesn't stop threadripper from having a great ROI though.

 

[R-T-B]

Well couple of cryptonight coins are profitable, but GPU's mine them better. Doesn't stop threadripper from having a great ROI though.

Which is why I qualified it with "very" profitable.

 

[cdawall]

Which is why I qualified it with "very" profitable.

Threadripper is on par with Vega which means a 32 core Epyc would double the performance. Could scale quite well.

 

[Deleted member 50521]

Crypto Kitties! Hell yeah!

https://www.cryptokitties.co/

 

[johnspack]

Please, let something happen.. a 1060 goes for 700can up here now, a sidegrade from my 970 that I paid under 500 after shipping and taxes for. A 1080 goes for 1200 before tax? Dam....

 

[techy1]

well there should not be more than 1 or 2 crypto curencies... because none except miners and trades use them and if none is using them - thair values are inflated on some kind of future expectations (aka hype). And I stronly agree on "....because of slow transaction times, security challenges and high maintenance costs."... you can not pay fees in multiple percent and in the same time wait for 20-30 mins for transactions to happen - that is a joke, not future proof real life payment. that being said - I do not think Bitcoin will ever go away and there fore will never hit zero.

 

[R-T-B]

well there should not be more than 1 or 2 crypto curencies... because none except miners and trades use them and if none is using them - thair values are inflated on some kind of future expectations (aka hype). And I stronly agree on "....because of slow transaction times, security challenges and high maintenance costs."... you can not pay fees in multiple percent and in the same time wait for 20-30 mins for transactions to happen - that is a joke, not future proof real life payment. that being said - I do not think Bitcoin will ever go away and there fore will never hit zero.

It's true bitcoin will probably never go away, but of all the altcoins, it's actually one of the least technologically advanced and probably the best justifiable one to eliminate. Ironic, isn't it?

 

[Ubersonic]

"Digital cameras are merely a fad, they have no longevity" - Kodak, 1990s

 

[Parn]

Classic investment banking tactics to trick the less well informed average joes so that the bank gets all the profit at the end.

 

[lexluthermiester]

No offense intended and I know it's not your standard audience. Try ebay maybe? Meh, just trying to have you make lemonade from lemons.

No worries. I had left out the word "no" and it has been corrected. It should have read "I know you're serious, and no offense is intended." My proof-reading needs to improve... Sorry about that. Admittedly, my understanding of how cryptocurrencies actually function is very limited. Have been pulling from Ebay, Newegg and Craigslist for older cards that still perform well, but then so is everyone else and the same over-inflated pricing is going on.

it's actually one of the least technologically advanced and probably the best justifiable one to eliminate. Ironic, isn't it?

Did not know this. Interesting.

 

[rtwjunkie]

Another day, another potential flame war thread on cryptocurrency.

Those thinking any kind of fall or failure in those markets will suddenly translate into GPU's everywhere at old prices are mistaken.

That will take considerable time, even if there were a complete collapse of crypto, which I don't think there will be.

Buy used. Careful watching of eBay does produce some deals, much better than new GPU market. Also, like I said in another thread, those 970's, and 980's are able to play most current games even pretty well at 1920x1080. If you have them, keep them.

If anything, I think a long term shortage of high end GPU's ( and I consider $70-80% markup a shortage also), will actually serve to keep 1920x1080 the monitor standard for even longer.

 

[TheDeeGee]

Let's hope bubble bursts.

Most inefficient way of earning money.

 

[neatfeatguy]

Another day, another potential flame war thread on cryptocurrency.

Those thinking any kind of fall or failure in those markets will suddenly translate into GPU's everywhere at old prices are mistaken.

That will take considerable time, even if there were a complete collapse of crypto, which I don't think there will be.

Buy used. Careful watching of eBay does produce some deals, much better than new GPU market. Also, like I said in another thread, those 970's, and 980's are able to play most current games even pretty well at 1920x1080. If you have them, keep them.

If anything, I think a long term shortage of high end GPU's ( and I consider $70-80% markup a shortage also), will actually serve to keep 1920x1080 the monitor standard for even longer.

If someone was looking for a decent gaming GPU - not for mining - and aren't opposed to 2nd hand equipment, be sure to hit up other forums that have a buy/sell section, craigslist, ebay and any other spot you can think of. For example, I saw someone sold off their 980Ti cards on tomshardware not too long ago for around $300 a pop. Good deal for a great gaming card considering the current prices they go for on ebay (right around $450, give or take a bit). They work about as good as a GTX 1070 in games and a 1070 is upwards of $600+, if you can find one new. If you have a local MicroCenter, they have a Gigabyte GTX 1070 going for $550.....that's only about $170 over the 1070 MSRP.

 

[Casecutter]

If you have a local MicroCenter, they have a Gigabyte GTX 1070 going for $550.....that's only about $170 over the 1070 MSRP.

Not to bust your chops... but,
Actually 6/2016 originally the standard 1070 MSRP: $379 / Founders $449; and those were already inflated prices compared to the 970 ($330 15%) and being no competition. Then 10/2017 Nvidia dropped GTX 1070 to $329 and $399 for the Founders edition.

So at $550, that's like a 67% overcharge for a card that been around 18 months ... that's No Bueno!
Normally in the real-world at this point such a card would be like $280'ish with a rebate.
Just adding perspective.

 

[TheTechGuy1337]

HAHAHAHAHAHAHA! Did he seriously say bitcoin is slow. It's a crap ton faster than a wire transfer. The lightning network just released for btc and is being tested as we speak. There are altcoins out there that are lightning fast already. Pun intended. It sounds like Mr.Strongin is worried about wall streets future if we are not going to them for money and investment advice. I can put money in ethereum in America, transfer it to the UK in literal moments, and cash out in EURO. The blockchain fees are nothing comparing USD to EURO bank transer fees.

 

[FordGT90Concept]

Same Day ACH: Moving Payments Faster (Phase 1)

I can put money in ethereum in America, transfer it to the UK in literal moments, and cash out in EURO. The blockchain fees are nothing comparing USD to EURO bank transer fees.

Because there's logistical problems which, instead of being tackled by a bank, is being tackled by cryptocurrency exchanges. Both can run into issues.