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GPU prices go boom

mattyg said:
Sorry! Where did it come from?

I did a quick calculation on the MC for BTC and by god it worked out to the cent. BTC in supply x Current price came out at exactly BTC's MC.....I'm not goind to do that for ALL coind and add them up...No point there is a nice website that has already done that.

So, Just in case we don't understand what MC is can you explain..


Thanks in advance
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Market cap is simply market price * number of units.

It has absolutely nothing to do with the actual dollar value going into the market. The statement "$100bn has come into the market" is plainly, objectively, false.
 
So where does the money for the market price come from............In order for a coin to go up in price by $1 then $1 must have been put into the market...Or can I trade with naff all.
 
mid_gen said:
Sorry, you're not getting off that easy. Don't want to get called out? Don't make glaringly false statements in public.

You're not the first person to misunderstand market cap, won't be the last either, don't feel too bad.
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Where are your facts you speak of?
 
Scramz said:
Where are your facts you speak of?
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Market cap is simply market price * number of units. There's a good post from the cryptocurrency Reddit that hit the front page when it was crashing that explains why market price has very little to do with money actually changing hands.

https://www.reddit.com/r/CryptoCurr..._will_tell_you_exactly_what_is_going_on_here/

Market cap is simply a function of market price. Market price has nothing to do with money coming in or out of the market.

Ergo "$100bn has come into the market" is, as I said, twaddle.
 
mid_gen said:
Market cap is simply market price * number of units. There's a good post from the cryptocurrency Reddit that hit the front page when it was crashing that explains why market price has very little to do with money actually changing hands.

https://www.reddit.com/r/CryptoCurr..._will_tell_you_exactly_what_is_going_on_here/

Market cap is simply a function of market price. Market price has nothing to do with money coming in or out of the market.

Ergo "$100bn has come into the market" is, as I said, twaddle.
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$100bn is back in the market, in one way or another.

Are you happy now? I don't care if it's "new" money or not, I care that $100bn came back and raised all the prices.

Jeez.
 
Whilst mining seems to have had a big impact on demand/price for powerful graphics card, what's the most powerful card not much affected? The 1030? 1050?

Edit: Looking at camelcamelcamel to track Amazon prices, the 1050 at £116 today is pretty flat, £120 early 2016. This card just isn't powerful enough to mine?
 
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I think eventually the difficulty to mine any cryptocurrency will reach a point of no return where mining for the average person will not be profitable, it's maybe then that GPU prices will settle. This may be a year or two before everyone can get their foot in the door, but hopefully that door for "easy money" doesn't stay open too long, for gamers at least.
 
I can't believe I'm seeing the likes of MSI 1080ti X's on some of the other main marketplaces going for £1100+. For the foreseeable future I think I'm backing out on high end parts. This is crazy. I honestly can't see the next bunch of high end cards (1080ti level) from now and on costing under a grand. Watching the ti move to Titan prices in such a short time is flabbergasting.
 
Saffy said:
I think eventually the difficulty to mine any cryptocurrency will reach a point of no return where mining for the average person will not be profitable, it's maybe then that GPU prices will settle. This may be a year or two before everyone can get their foot in the door, but hopefully that door for "easy money" doesn't stay open too long, for gamers at least.
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Not likely.

Since anyone can magic up a new currency out of thin air, why wouldn't we just see an endless stream of new coins?

1. People with GPUs sat around doing nothnig will want a new coin to mine.
2. People making a new coin will become rich from 1.
3. New coin is invented, both miners and coin "inventor" make money again...

Thus unless regulation stops any Tom, Dick and Harry from simply spawning new currencies to mine, I can't see a situation where GPU miners would ever have nothing to do.
 
Saffy said:
I think eventually the difficulty to mine any cryptocurrency will reach a point of no return where mining for the average person will not be profitable, it's maybe then that GPU prices will settle. This may be a year or two before everyone can get their foot in the door, but hopefully that door for "easy money" doesn't stay open too long, for gamers at least.
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I don't think that scenario is safe for the blockchain.

If you only have massive mining farms controlling the blockchain then a 51% takeover is possible.

The tech will change or a new top dog coin will replace BTC and lots of the smaller alts will either die.

Mining may be put to some other use as well that pays
 
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