Demand for GPUs used to mine crypto 'disappearing', says ASUSTeK Taiwanese hardware giant ASUSTeK says demand for GPU used to mine cryptocurrency is "disappearing" – and so is about ten percent of demand for personal computers. Speaking on the company's Q1 earnings call, co-CEO S.Y. Hsu said the fall in demand for GPUs was caused by the crypto industry responding to critics of its energy …
But as the mining difficulty increases, the effort required to mine $coin increases, which makes means one needs more grunt (ie hardware), and more electricity, to do so, making the mining work less, or not at all profitable.
This means that people might even be able to get a GPU and actually use it as a GPU within the next year or so.
The "proof of space" is to store plots not create them in the first place.
For this, SMR drives are ideal and a much cheaper option.
CMR would be a terrible waste, as the aim here is to store the data for a long time.
An ideal Chia system would have a super fast SLC NVM-e drive for plotting, fast CMR drive for temporary storage and HA-SMR array for long term.
> Less demand will see prices fall
You're kidding, right? Prices will rise, because that's the only direction they know. Don't forget that gaming laptops (or dedicated computers in general) are for those who can afford them, so let's see how much those are willing to spend for the latest and fastest... After all, if they can't afford the outlandishly priced flagship, they'll settle for the next best but more affordable one, so it's not like we're losing sales.
They have a sum of money burning holes in their pockets, it's up to us to decide what they'll get for it, and don't give me any of that "fulfill their dreams" crap, we're not Santa.
That's not really how markets work.
Low stock, drives prices up, as there is no competition, and demand outstrips supply. Healthy stock means supply outstrips demand, and drives prices down, as there is more competition between OEMs, so they have to adjust price to keep selling.
In March very few cards were in stock, across both AMD and Nvidia, and as an example, the AMD 6800 XTs' were around £1200 in March (lowest price).
A quick look on OC UK just now, and almost all (~95%) of all Nvidia and AMD cards are now in stock.
Currently the same AMD 6800 XTs' are ~£820 (lowest price), so almost a £400 drop in two months, and this is still declining.
For ref, the original MSRP for the 6800 XT, was around £650 for the base models, which of course the card has never been sold at by OEMs. But at least it's heading in the right direction!
Also the closer we get to the launch of the new ranges, due later this year, the cheaper the current gen cards are likely to get.
There will likely be a bear market in Bitcoin and a floor of ONLY $20k as we approach the next halving. It's strange that something that was an ATH a few years ago becomes a floor where the media expresses insane amounts of negative press towards bitcoin. I saw it at the approach to the last halving at around $3k, there was accumulation and then another tear a few months after the halving occurs.
It's the same market cycle over and over again but with prices 10x what they were before.
Whether or not its a ponzi scheme, big institution manipulation or an effect of the scarcity remains to be seen.
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