What if the crypto craze never ends?

philb2

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Any easy comment to throw out there, a much harder one to defend.

You cryptoboosters sound like an unholy combination of flat-Earthers, Bernie Madoff, and a used car salesman. I know you want to keep the hustle going for as long as possible, but your bullshit is wasted on me.

For your sake, I hope you are a Madoff hustler, not a flat-Earth true believer. Hustlers usually know their schemes will come to an inevitable end and have some kind escape route planned. The flat-Earth types will ride that out-of-control train until it jumps the tracks and crashes into a gorge, screaming Why God!? with their dying breath.
Or you can compare the crypto craze to how the stock market always cleans out the "little guys," the "retail investors," who jump into the stock market precisely because it has become frothy. So they end up buying into a late phase in a bull market. Then when the market turns, they panic, locking in their losses. In 2008, I knew some people who converted all their stock to cash. The smart people simply stayed in the market, which has done exceedingly well since the 2008 lows. Right now we are in a bull market for crypto, because enough people believe either others' bs stories.

If someone ever actually minted crypto money, the metal would be kryptonite.
 

Riptide_NVN

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In answer to OP.

Everything comes to an end sooner or later. Bitcoin or USD fiat cash. It doesn't matter.

Things are worth what people are willing to pay for it. Doesn't matter whether you think something is a 'scam' or not really. Right now I can buy gold with BTC, BCH, ETH, or even DOGE if I want. Is gold worthless now?

Just the way the world has always worked.
 

OFaceSIG

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Bitcoin will eventually no longer be minable, that will help. But has others have said, dedicated hardware is coming out to mine. That will help as well. Eventually though if the demand stays high, fabs will expand to handle the capacity. Problem is, that takes years. They may not expand to satisfy GPU customers, but the automotive, appliance industry, cell phone industry all will justify expansion as long as demand stays high.
 

Sir Beregond

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But thn who will want to use it for legitimate purposes? If it cnt be tied into legitimate uses nd interwebbed together with real world, no one will need crypto.

Right?

It's like city of ..whatever, Paris, made there own currency nd its citizens use it, but it cn only be used inside city transactions. Who would want that kind of currency?
TacoCoin when?

I haven't seen anyone mining Bitcoin with a GPU since asics became mainstream in 2013...

Ethereum is what everyone is on now for GPUs, but I believe profitability is dropping now.
 

os2wiz

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It can be, if you never associate your pii with any of your wallets. The transactions are traceable, but that means nothing if you're unable to find the person who made them.

That said, making that happen takes some work and diligence.
That is why crpto will be stamped out soon by many governments. Too many criminals and billionaires hiding income and ill gotten assets. I will jump for joy when crypto crashes again soon.
 

philb2

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So, as the OP, let me restate my question: Let's set aside personal views on the character of crypto miners or the "goodness" of crypto currency. Are there technical or market factors that will prolong or end the crypto mining frenzy? In what time frame? 3-6 months? 1 year? More than 1 year?
 

MrGuvernment

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even when ETH move to 2.0 "mining" will just be turned over to "validating" and stake rewards so there is still incentive for people to keep those GPU's handy.

Also, lets not compare government controlled digital currencies to Crypto as we know it, not the same thing.

As for privacy, most tokens are anonymous, until you want to make transactions with them or convert them to fiat. So unless you can buy all you need via Crypto via some site with out entering in any personal KYC info..sure, it is anonymous..
 

Jandor

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Crypto isn't the problem. The problem is demand vs production and this is not going to change till 2023, maybe even later.
 

Nebell

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I'm going to keep mining with my 2080Ti as long as the profit is at least $3/day.
When I deduct electricity and that I game 0-4h/day, it leaves me with about $2 proft per day. That's $750/year, worst case scenario. Free $1500 gpu every 2 years ;)
 

kirbyrj

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I'm going to keep mining with my 2080Ti as long as the profit is at least $3/day.
When I deduct electricity and that I game 0-4h/day, it leaves me with about $2 proft per day. That's $750/year, worst case scenario. Free $1500 gpu every 2 years ;)

Exactly. It's amazing how people hate crypto so much because GPUs are hard to find that they fail to understand basic math.
 

yourgrandma

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I'm going to keep mining with my 2080Ti as long as the profit is at least $3/day.
When I deduct electricity and that I game 0-4h/day, it leaves me with about $2 proft per day. That's $750/year, worst case scenario. Free $1500 gpu every 2 years ;)
Production issues are greatly overstated, as long as they're selling a profitable currency printing press there is never going to be a point where you are 'meeting the demand'.
 

HAL_404

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What would replace GPUs for crypto mining?
well, I'm gonna venture a guess here that GPU die makers will be incorporating something unreachable inside the die to prevent a gaming/business GPU card from being used for mining so that hacking it would be impossible ... at least I would think that's the game plan
 

Saabjock

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I suspect even if Crypto mining slows down, GPU manufacturers and their AIBs will still find ways to inflate the pricing.
The now know how much some folks are willing to spend on these things.
End users will probably get what they want close to SRP as the cards approach EOL or are about to be replaced by something newer.
 

hajalie24

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I suspect even if Crypto mining slows down, GPU manufacturers and their AIBs will still find ways to inflate the pricing.
The now know how much some folks are willing to spend on these things.
End users will probably get what they want close to SRP as the cards approach EOL or are about to be replaced by something newer.

Seriously, back in November I desperately wanted a 3080. Remember all the hype? A card less than half the MSRP of the reigning champ and outperformed it. Sold my 1080 ti in advance for preparation. Then they had no cards for a while. When microcenter had a drop off, all they had were 3090s. I ended up paying $1800 + tax for a freaking GPU and this was without considering mining.

I started mining in the last 2 months though and have made a good chunk of that cost back already.
 

flegg

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still predicting a crash to happen sometime at or before the end of summer.

If a crash does not happen i would have to assume GPU production would ramp up. Why would amd nvidia not take the $$? This would take until 2022 most likely though
 

Nobu

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still predicting a crash to happen sometime at or before the end of summer.

If a crash does not happen i would have to assume GPU production would ramp up. Why would amd nvidia not take the $$? This would take until 2022 most likely though
Materials cost a lot right now, they may have to negotiate a much higher contract cost if they try to produce more, and then they might not receive all of their order in a timely manner, depending on market conditions.
 

flegg

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Materials cost a lot right now, they may have to negotiate a much higher contract cost if they try to produce more, and then they might not receive all of their order in a timely manner, depending on market conditions.
Right but one would think if crypto persists they would eventually attempt to reach demand. I shouldve said until 2023 though
 
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