IS IT OVER?

techpowerup.com/240680/you-hodl-it-cryptocurrency-pricing-plummets-as-south-korea-revives-pressure
Is it? Finally? Can I now, or is it too early yet?

Other urls found in this thread:

en.wikipedia.org/wiki/Black_Wednesday
reddit.com/r/CryptoCurrency/
twitter.com/SFWRedditVideos

It looks like it is indeed over.
What a relief. Really should've happened at least 2 years ago, IMHO.

Nope. Sunk cost fallacy will result in all the people losing their shit right now continuing to hold out hoping for the "inevitable" recovery. It'll be a while before the average idiot has enough sense to back out (or kill themselves after going bankrupt).

Hopefully the latter so they never try this shit again

Not knowing what a bear market is. HAHHAHAHAHAHAHA

Isn't this great for NVIDIA and AMD? The research and development they do will benefit us all in the long run, right?

I'm not buying your coins. Fuck off.

I went ahead and just bought a prebuilt.
Probably not a good idea in the long run, but I was tired of waiting around for prices to finally go back down.
Besides, even if gpu prices go back to normal, ram is still stupid expensive right now too.

cheap used parts when

The later. All the way to zero taking as many people with it as it can to ensure max pain and ensure they don't attempt this nigger tier shit for at least another generation that has forgotten this lesson.

You'll know it's over when people stop being on literal suicide watch.

Yeah, but if they kill themselves it could be months before their body is found and they won't put all their cards on Ebay. Or their relatives might just not bother to do it and put them in storage or something. We need these people to live long enough to sell off their dreams on the cheap. Then they can kill themselves.

Way too soon to call the end of this. If the hashrate dips significantly, so will the difficulty, remember, increasing the payout from mining again.

We should start notifying next of kin that if they come across colorful cards in a rack next to a necked body to immediatleysell them for $200 to cover the cost of the funeral before the creditors come knocking.

>researching and developing when you can just enjoy inflated prices while they last.
Yeah, no. They're a big company that's here to make profit, after all.

Id be worried about buying something thats probably been running overclocked nonstop for months on end.

I'd only be worried about the fans. The silicon should be fine, right?

I'm just hoping there are so many of them for cheap you can ride them till they blow and pop in a new-used one.

>industry leaders require money to invent

sure

Sup Forums FINALLY GETS BLOWN THE FUCK OUT ONCE ANS FOR ALL

WE MADE YOU YOUR OWN CONTAINMENT BOARD FOR THIS DUMB SHIT FUCK OFF

...

No one but equal retards is going to buy these abused cards on the aftermarket for less than 50% off.
The fun hasn't even begun yet. The real carnage begins tomorrow.

Huge difference here. /biz/ wants to get rich off bitcoin, Sup Forums wants bitcoin to die

This thread is about how Sup Forums wants to play their video games

If south korea can ban trading so can EU/US/China, what are they waiting for?

Free market

r/cyrptocurrency is literally directing their community to suicide hotlines

Always assumed it was a set percentage or something that they put away for RD.
Also, isn't AMD totally wrecking nvidia since they make the cards themselves, as opposed to nvidia who has asus, msi etc producing theirs? Looking at the nvidia cards make me so confused since there are so many variants, they all cost the same but some of them are shit, allegedly

The only thing they can really interfere with is converting to/from fiat currency.

I had bought a gpu yesterday but canceled the order now. I can wait™ a little longer.

>price surges up twice as high
>gpus prices double
>you get fucked twice as hard

Top Fucking Kek. I wonder how many people who are actually fucked right now. Like, not "I lost my year savings" or "I lost my college money" but people with loans who might lose their house and shit

What's going on now that people are dying or used GPUs are going to flood the market?

>but people with loans who might lose their house and shit
not a huge number, certainly not enough to trigger a recession like in 2007, but more than zero.

Wow, it's like babies first cryptocurrency news.

I was there when Bitcoin first hit $11 and plummeted, then two months later it hit $30 and plummeted, when it hit $1200 it also plummeted, now it hit $20000 and plummeted... It's almost like it's a trend, you know.

I'm not sure if you got the memo but that's exactly what happened today...
> South Korea announce : Just playing, we 'might' actually close all of you down
> China took it to the next level and is shutting down all exchanges, mining ops, and also going after wallets when they hit traditional banks
> EU jumped in
> Then japan
> In the U.S Bitconnect got cease and desist letters from Texas to shut the fuck down and DDOs hit their asses from the alphabet boys at peak mayhem

Meanwhile, just last night when I was warning these fags what's coming I was greeted with : Were invisible. No one can stop or touch us. Yeah ok.

Just wait until tomorrow.
The pain hasn't even begun yet.

I couldn't wait so I bought a used gigabyte gtx 1080 g1 for 560 bucks a couple days ago. Its not that bad of deal since it was the only thing I can find in stock

Good god, preach. I couldn't agree more.

COINERS WILL FINALLY DIE.

hey fags I need some advice... is there any reason I shouldn't sell my GPU now and buy cheap when crypto bottoms? I wanted to upgrade anyway but I'm not buying in this market.

>used GPUs are going to flood the market?
as long as a GPU earns more than the cost of electricity on some coin or another, it'll be kept in service. If it doesn't, it's not like miners will dump all of them immediately, some will idle them and keep them ready to be put back into service if the market recovers. That's not the market for bitcoin specifically, again, just the market for any one coin that their hardware can mine.

If bitcoin gets hit too hard, people will legit kill themselves. This is sad, but also interesting, for due to the structure of the Bitcoin block-chain network, that would also mean a fair amount of bitcoin is permanently destroyed and lost forever, which would in turn hold and raise the value of Bitcoin, yet hurt the people who buy in late. Imagine if only 1 trillion US dollars were ever made and no more could be made. Sure, a trillion is a lot, but if people take their money to the grave, then there would be less money and the perceived value would increase due to shortage of supply, and yet the shortage of supply would not yet be known, so it would work inversely for those who buy in late or hold.

>big brother flexing his muscles by destroying decentralized currency projects
>Yay! Gimme gimme muh gamies! We love big brother!

What the fuck is the Linux meme on this board even for?

>No one but equal retards is going to buy these abused cards on the aftermarket for less than 50% off.
Assuming the pieces of shit who did this in the first place are forthcoming about it when the list it on eBay. Otherwise "used, good condition, works great!" is all they'll mention.
But, tbqh, after seeing the prices these have gone for over so long a time, I wouldn't mind paying MSRP for a new card.

Keep it .. 30 day return policy. If prices drop, return that shit. If they don't, keep it. Fuck retailers for being the niggers they've been during this idiocy

>>What the fuck is the Linux meme on this board even for?
The angry Sup Forumstards in this thread aren't the Linux people.

Ehh that's fine, so long as miners don't buy more cards, which they wouldn't if they're now losing money. Suppliers will eventually be able to build a supply and all will be well again.

right?

>"currency"
>it's just a bunch of autists buying graphics cards and posting pink wojaks

Clearly these people are top tier journalists.

Just a meme. Most of Sup Forums is Sup Forums babies who use intel+nividia

Tons. Mostly credit card debt.
Same shit as 2008. Same dumbasses.
I'm waiting until there are necking headlines.
In all honesty, today is a day of reflection, soul searching, and a day that allows one to reach deep and really question wtf they're doing and involved in. After today, just as a number of ignorant and arrogant fucks like you are pronouncing, you deserve everything that's coming to you and it will be ensured it comes hard and leaves nothing left behind.

So what's going on again that people are suiciding themselves or whatever? Are buttcoins dead again or something?

>if people take their money to the grave, then there would be less money and the perceived value would increase due to shortage of supply
Except, unlike the USD, there is a very real chance that governments could effectively ban the currency altogether. Irrespective of the currency's relative scarcity at that point, its value will tank.

crypto is only used by pedophiles, terrorists, and pyramid scammers who got in early

it is retarded and I want it dead

Trolling newfriends

>So what's going on again that people are suiciding themselves or whatever?
They aren't. It's gamers masturbating to their anger at these people, because the price of GPUs went up.

Oh okay. Weird.

People aren't applauding the fall of cryptocurrencies - most normies don't give a damn one way or the other. The salient point is the secondary effects that a subset of miners with the cash to buy _dozens_ of GPUs are causing. It's making it impossible to get new hardware in a lot of cases.

Crypto fails at being a currency. Too volatile to be accepted as payment, not to mention the transaction fees.
It's sole purpose is speculation now.

this may be babies first crash for a lot of new people which could be interesting but there is a large number of people who have gone through this "sunk cost fallacy" and continued to make more money afterward multiple times.
I lost 50 grand in the past 2 days, but this is my 10th time ""crashing"" this bad(percentage) in the past 2 years. Everyone has their ""suicide"" crash and gets over it.

Bigger problem: its value is based on the scarcity of CPU cycles. Seriously. Who the fuck thought that was a good idea?

you mean Sup Forums acting as Sup Forums's gateway to escaping cancer and hating on multiple uses of hardware. a tech board should support both these uses of gpu processing in favor of more money spent on the cards resulting in better cards being developed.

>there is a large number of people who have gone through this "sunk cost fallacy" and continued to make more money afterward multiple times
In the meantime, though, hopefully those people will slow down on the GPU buying. I couldn't care less if these people are mining all day, or what the price of cryptocurrencies looks like - I'm just tired of having no hardware be available.

Buying up fucking GPUs to mine crypto is literally the tulip mania of our times. Bitcoin has no inherent value and the sooner mongs realize this the better.

>a tech board should support both these uses of gpu processing in favor of more money spent on the cards resulting in better cards being developed.
Except since the cards are constantly sold out and have their prices inflated, the only people benefiting from better cards are the companies buying up every card the very second they hit shelved. I’m not an altruist.

>"currency"
>it's just a bunch of paper with no inherent value

Just like any currency that isn't backed by something necessary for survival

>Scarcity of CPU cycles
Try scarcity of electricity.
The shitty value is in the end directly tied to the price of electricity in your region.
It's a total waste of good resources.

Just so everyone is aware the biggest losers are premined Proof of Stake coins, those can go to 0 and mining won't be effected.

blockchain has more uses than fiat :^)

Do mention those uses

Yeah except people actually use currency for day to day transactions and you can't mine currency by running up your electricity bill.
And it's also actually widely accepted and regulated as a form of payment. The only reason people use bitcoin is to evade tax or authorities. And when enough countries clamp down on it, the value will approach zero soon enough.
>Haha I have 200 BTC that I cannot exchange for actual currency I'm so rich!

Yes, and all those uses do not have anything to do with the ballooning in BTC prices.

A possible replacement for insecure social security numbers for one

Delegated Proof of Stake is the biggest winner
>ARK

...

>can't mine currency by running up your electricity bill.
But you can if you're the government and have a printing press

Yes, what the country is going to do is adopt this unrestricted/uncontrolled means of transacting instead of creating their own version that they can control because the Government is mongs... Cool story though.

Yes, and the same government doesn't allow the currency to lose 20% of its value overnight.

NVIDIA CONFIRMED FINISHED AND BANKRUPT

...

its better than using GPUs to process video game pixels. Video games are literally cancer for the current generation. I wish there were so many miners that kids couldnt afford GPUs to play games and were forced to do healthy shit.

Can't wait for all countries to sign legislation that restricts/bans exchanging BTC for currency.
>hurr we use bitcoin to evade taxes, gubments are stupid and won't do anything hurr

>government doesn't allow the currency to lose 20% of its value overnight
en.wikipedia.org/wiki/Black_Wednesday

They’ll split up when b*tcoin crashes and she blames him for tricking her into falling for a ponzi scheme.

Fuck miners.

>Video games are worse than wasting cpu cycles to inflate useless cryptocurrency

nope

>happens once every 2 decades
>Bitcoin dropping 20% can occur daily
Yes, crypto is the future and everybody is going to stop using fiat currency soon. Keep mining till you bankrupt yourself and owe the power company for life.

sir, please note pajeet not english. do the needful delete.

She'll have a massive Facebook post about how he made her do it I bet.

>forced to do healthy shit.
Just like mining shitcoins and not getting an actual job, you mean.?

unless you are great britain.

Crypto is laughable. High transaction fees, low transaction volumes per block, and a huge amount of wasted electricity utilized to confirm the transactions. 1970's credit card technology is better than these "digital currencies of the future".

>inflate useless cryptocurrency
nope.
Iv played video games for over 10 years so i can actually talk shit about them. Go learn about what blockchains can do with those cpu cycles, youre on a tech board remember it's not your other Sup Forums browser tab.

>blockchains
Nobody is saying that blockchains aren't useful. What we're saying is that mining crypto is useless and a waste of electricity.

reddit.com/r/CryptoCurrency/
Ahahaha it's fucking true

>I've played videogames since their decline
nice

>Iv played video games for over 10 years
This is a 18+ site, get out.

It's the millenial's tulip mania. Instead of investing in real estate or the stock market, they pour all their money into crypto and they're going to get fuck burned pretty soon.

>Actually thinking BTC has any use as a currency beyond evading taxes and money laundering

I really hope cryptocurrencies fucking die once for all. Fucking losers are ruining the prices for muh video cards, all thanks to some currency that is unstable as fuck, changing value massively each fucking day.