Bitcoin Going to Zero? Not Likely

a reply to: EternalSolace

But every percentage of a decline is another percentage toward normalization of PC components.

Once again, you have a one pie mentality.

And once again, it doesn't work that way.

Why does one thing have to disappear for another to flourish?

That's a lack of imagination that creates that mentality.
www.investopedia.com...

The core reason behind this efficiency is that the video processing GPUs are devised to do better in performing similar and repetitive work, than in performing diversified multi-tasking functions like those of the CPU. For example, rendering a 3D movie requires the GPU to keep processing similar kinds of information to the screen again and again, though with slight changes.

This is also used in machine learning and there's been an explosion in AI research that has made the demand for GPUs jump even higher.

It isn't just Bitcoin mining or mining in general that is causing the spike in GPU usage.

In The Era Of Artificial Intelligence, GPUs Are The New CPUs

Bitcoin mining is merely a symptom of an overall disease (for gamers) that will soon go away when the market catches up to demand for GPUs as our economy demands more and more complex calculations to be made.

originally posted by: projectvxn
a reply to: EternalSolace

But every percentage of a decline is another percentage toward normalization of PC components.

Why does one thing have to disappear for another to flourish?

That's a lack of imagination that creates that mentality.

It's simple supply and demand. As bitcoin caused the rise of GPU and RAM demand, prices increased.

As demand for GPU and Ram decreases, prices will normalize.


This has nothing to do with a one sided interpretation.

It's everything to do with people buying 10 gpu's at once to mine bit coin increasing demand as well as increasing price.

a reply to: projectvxn

Thanks for the information! Interesting reading. S&F.

Like you..........I don't believe Bitcoin will go to zero. I would hazard to guess that as it comes ever more to be used in commercial transactions, the value of Bitcoin will "settle". By that I mean, the ups and downs in the value of Bitcoin will smooth out over time and settle into a more or less "comfortable" range. As that happens, speculation in the currency will no longer be attractive to the trading crowd, and it will stabilize in a range.

Thanks

a reply to: EternalSolace

It's simple supply and demand. As bitcoin caused the rise of GPU and RAM demand, prices increased.

"It's simple supply and demand"? Is it? I don't think you understand economics very well. As explained in detail above, BTC mining isn't the only game in town for GPU price drivers.


I just showed you that Bitcoin wasn't the sole cause of this.

If BTC goes away and prices stay up what will you say then?

Transactional data is going up. An 80% increase since April according to my source from earlier.

This means miners are working too. Despite this, the cost of GPUs has actually been declining. Some of that has to do with BTCs new lightning network. Most has to do with increased GPU production and production facility expansions that are coming on line for 2019 are responsible for the rest.

You are definitely going to need to dive deeper into this to understand it.

Unless all you care about is gaming, that is.

originally posted by: projectvxn
a reply to: Indigent

It's freedom from the global banking cartel.

C02 is not a good excuse to abandon that and you know it.

doesnt the complete transparancy scares the $hit out of you? Every transaction, every amount you hold in your wallet is public, and searchable, and the only thing required is tying a wallet-address to an ID. Isn't that an authoritans wet dream?

a reply to: whismermill

doesnt the complete transparancy scares the $hit out of you? Every transaction, every amount you hold in your wallet is public, and searchable, and the only thing required is tying a wallet-address to an ID. Isn't that an authoritans wet dream?

A wallet can be anywhere.

You can make multiple wallets. I carry a hardware wallet. They can't trace your physical location unless they hack bitcoin itself. Good luck with that.

originally posted by: projectvxn
a reply to: EternalSolace

It's simple supply and demand. As bitcoin caused the rise of GPU and RAM demand, prices increased.

"It's simple supply and demand"? Is it? I don't think you understand economics very well. As explained in detail above, BTC mining isn't the only game in town for GPU price drivers.


I just showed you that Bitcoin wasn't the sole cause of this.

If BTC goes away and prices stay up what will you say then?

Transactional data is going up. An 80% increase since April according to my source from earlier.

This means miners are working too. Despite this, the cost of GPUs has actually been declining. Some of that has to do with BTCs new lightning network. Most has to do with increased GPU production and production facility expansions that are coming on line for 2019 are responsible for the rest.

You are definitely going to need to dive deeper into this to understand it.

Unless all you care about is gaming, that is.

The cost of GPU's has been declining because the demand for them has been as well...


FFS man.... simple market mechanics.

a reply to: EternalSolace

The cost of GPU's has been declining because the demand for them has been as well...

No it hasn't.

blogs.nvidia.com...

I've just shown that in 3 posts now.

originally posted by: EternalSolace
I seriously hope that bitcoin dies and never makes a comeback. Bitcoin has been the worse thing to happen to PC gaming since valve refused a half life 3.

Driving up prices of GPU's, RAM, and CPU's....

The death of Bitcoin means the normalization in price of PC components.

Riiiight. Because PC gaming is the most important thing in our foreseeable future...

I'll take the decentralized banking system on an open ledger please.

a reply to: projectvxn

Keeping up with crypto and blockchain news is almost a full time job.

The amount of resources being thrown in that direction is massive and IMO, folks would be foolish to ignore it.

a reply to: JinMI

I'm laser-focused on BTC and am very bullish on its performance this year.

Governments are about to face another debt bubble.

Bitcoin is immune and will likely be how I hang on to my buying power in the next 5 years.

No one learned # from the '08 bubble. They are still lending to irresponsible people and then that will turn into a whine fest when they go underwater upside-down on a house hardly worth the price tag.

Then there's the "Student loan crisis" where a bunch of idiots bought 100,000 dollar debt contracts for degrees that won't even bring in 25k per year...And the US Federal Government is on the hook for every penny.

All of this is going to put major pressure on the dollar. We may see a short period of deflation, but knowing the fed, the printing will ramp up and inflation will once again be the main concern.

Please keep driving that price down, people!

I havent filled my wallet with your losses.

Still have plenty of room to grow!

a reply to: projectvxn

isn't bitcoin directly influenced by the value of the dollar?
if the dollar goes kablooey, then doesn't that also tank bitcoin?

it would make more sense if bitcoin were backed by precious metal. with all the ups and downs of global markets, gold has never had zero value.

thank you everyone for everything you did for bitcoin. Did it again.

originally posted by: subfab
a reply to: projectvxn

isn't bitcoin directly influenced by the value of the dollar?
if the dollar goes kablooey, then doesn't that also tank bitcoin?

it would make more sense if bitcoin were backed by precious metal. with all the ups and downs of global markets, gold has never had zero value.

BTC is not pegged to the dollar.

a reply to: projectvxn

what is it tied to?
something has to give it value.

Finally some hope for Wojak.

originally posted by: subfab
a reply to: projectvxn

what is it tied to?
something has to give it value.

It's self sustaining.

Value is derived in a number of ways:

Transaction validation, mining, speculation(as always), and actual use.

a reply to: projectvxn

ahh i see

thank you for the clarification

I just bought a tiny amount earlier today after it went down a bit.

I'm going to throw a little money at it here and there.

I have switched to bitcoin over alt coins for the time being.