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Crypto Market Crashing Hard

Eliar

Well-known member



As Tom's Hardware reports, most mid-range Nvidia GeForce RTX 3000-series cards are still selling at or slightly over their manufacturer-suggested retail prices—the 3050, 3060, and 3070 series are all still in high demand. But top-end 3080 Ti, 3090, and 3090 Ti GPUs are all selling below their (admittedly astronomical) MSRPs right now, as are almost all of AMD's Radeon RX 6000 series cards.

Used prices have fallen even more quickly. Between June 1 and June 15, eBay prices for used GPUs fell an average of 10 percent as at least some cryptocurrency miners sought to cut their losses and sell their hardware. This is happening even as mining software is beginning to find ways around Nvidia's hash-rate limiting LHR protections—falling cryptocurrency prices and rising energy costs are still making the economics of mining tricky.

And at long last the insane price hike on cards seem to be ending and reversing to a degree.

Get rekt cryptobros and scalper vultures
 

Avernus

Well-known member
There's a reason why people make "This too is good for Bitcoin" jokes; at its core it's basically a cult. Those "Bitcoin purists" are irrational True Believers who think that Bitcoin will prosper because anything else is unthinkable.

It's a scam too of course, but cults are often also scams.
 

Rufus Shinra

Well-known member
There's a reason why people make "This too is good for Bitcoin" jokes; at its core it's basically a cult. Those "Bitcoin purists" are irrational True Believers who think that Bitcoin will prosper because anything else is unthinkable.

It's a scam too of course, but cults are often also scams.
2018-02-08-0962-this-intermission-is-good-for-bitcoin.png


This post is good for Bitcoin.
 

Grasshopper

Well-known member
This post is good for Bitcoin.
Hahaha what the fuuuuck

There's a reason why people make "This too is good for Bitcoin" jokes; at its core it's basically a cult. Those "Bitcoin purists" are irrational True Believers who think that Bitcoin will prosper because anything else is unthinkable.

It's a scam too of course, but cults are often also scams.
True. Up until the original crop of believers who know that it's a scam die, whereupon it becomes a religion.

Anyway, it's probably a good thing that I never got around to mining crypto. While I would like to see the industry crash and never rise again, I doubt we're that lucky.
 

Eliar

Well-known member
Hum the Bitcoin stopped around 20k...

AFTER binance bought 2 billion dollars worth of bitcoin and a multitude of exchanges stopped exchanging bitcoind for real money due to ahem *technical issues*

Oh there is also this



Plain speaking they are throwing money to the moneyfire in hopes of putting it out.

And likely manipulating their data i.e. lying like mad.


In related news one of the *whales* tried to cash out and leave the rest of the suckers holding the bag... But apparently in cryptoland they can actually seize your holdings via *voting*

So much for the being the last refuge against the cruel and dictatorial government rules that can arbitarily strip of your wealth right?
 

Eliar

Well-known member
*Eats popcorn*

There is something cathartic in watching a dumpsterfire in which most are scammers trying to outscam each other.

Never thought I would actually see an economic Let Em Fight! moment in which the ammount of suffering by the mostly innocent bystanders would not be more than the pain suffered by the *Whales* and *Bulls* and *Bears* and all dem new terms I keep learning from cryptoponzi land.

In the meantime with the energy prices going WAY up the chip burners -I refuse to call em minners or farmers or- are forced to sell their BT stashes to pay the electric companies who most certainly refuse to be paid in ponzicoin or scamtokens
 

Ravan

Gone
The whole thing reminds me of something that the creator of “Dilbert” said, years ago before he went mask off rightwing.

“Beware the advice of successful people. They do not seek company”
 

Eliar

Well-known member
"In the end crypto is an ideal, a religion, a state of mind, pure and untainted by mundane concepts like value, tradability and crass demands for a stable exchange for filthy fiat currency."
 
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