1. Mikemk

    Mikemk GBAtemp Advanced Maniac
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    Though, if Bitcoin exchange hacks are anything to go buy, it'll drop prices slightly while the stolen eth is sold off, then go back up. And maybe a few more people will learn to keep their money in their control.
     
  2. TheDarkGreninja

    TheDarkGreninja Listening to a song ad nauseam
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    Thank god. I was hoping for it to tank for a while now.
     
  3. The Real Jdbye

    The Real Jdbye Always Remember 30/07/08
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    Probably not. The miners who are worried will just switch to another cryptocurrency, it's not like they aren't plentiful. At least on my GTX 970 (which I'm not mining on for the record, I just checked the numbers online), Sia and Ether are about equally profitable, with one being more profitable at some times and the other one at others, so for someone on a similar GPU switching to Sia instead wouldn't make much difference. Other coins might be more profitable on other GPUs though, I haven't looked too much into it. But mining looks like it's here to stay, so don't expect to be able to get cheap high-end GPUs until the miners eventually sell off their used GPUs when they are no longer profitable :P
    Buying used is not a bad option though, you can get slightly older GPUs for dirt cheap, ones that are still completely usable for running the latest AAA games.
     
    Last edited: Jul 19, 2017
  4. VinLark

    VinLark This Machine Used To Kill Bourgeois Sentimentality
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    FUCK YES

    Fuck those crypto horders
     
  5. DinohScene

    DinohScene Feed Dino to the Sharks
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    And this is why crypto currencies are still a bad idea.
     
    linuxares likes this.
  6. WiiUBricker

    WiiUBricker News Police
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    Yes. In fact, they are already all over ebay.
     
  7. doughmay

    doughmay GBATemp Certified Nothing
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    We can only hope the gpu market will stabilize.
     
  8. linuxares

    linuxares I'm not a generous god!
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    Unless you wanna do illegal shit.
     
  9. endoverend

    endoverend AKA zooksman
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    That's like hearing about someone robbing a bank and being like "This is why paper money was a terrible idea". You would have never been able to carry that money in silver bars or change!

    It hasn't tanked. The price is still relatively the same. In fact, this hack will have absolutely nothing to do with the amount of GPUs there are on the market. In the grand scheme of Ethereum's market cap this is a drop in the bucket. If anything will cause more GPUs to be sold, it's the gradually increasing difficulty of generating blocks, not some hack.
     
    Last edited: Jul 20, 2017
  10. Boured

    Boured A Dusk Lycanroc who cares a lot about people.
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    So I can finally not spend $800+ for a 1080 Ti?



    Welp I guess that makes me happy :P
     
  11. whateverg1012

    whateverg1012 Fringe Weaver
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    Now those poor GPUs can be used for what they should be used for.

    — Posts automatically merged - Please don't double post! —

    Well 1080s weren't affected before, only the cheaper cards were.
     
  12. Bubsy Bobcat

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    I've never heard of this currency? What's so special about it? I'm not Googling it, you're not the boss of me.
     
  13. DKB

    DKB I'll be watching you sleep tonight.
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    nothing it's just money lol
     
  14. Elysium420

    Elysium420 Astral projector
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    I may have already bought a 1080 MSI Gaming X 8GB on Ebay and it's probably the luckiest buy I've ever had, but this news is still music to my ears. It's almost done, guys. Go get a graphics card while you can.
     
  15. Ericzander

    Ericzander Always sleeps.
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    I never understood why people thought it was a good idea to invest in crypto currency...

    If you have the money to burn on a GPU meant only to mine crypto currency, then that money is much better spent invested in the S&P 500 or some index fund that's very unlikely to completely tank. Not saying that Ethereum will tank immediately as a result from this event, but it's only a matter of time before it goes the way of Bitcoin which will never get back to what it was (no matter how much faith the loud minority has in it).

    Unless you're laundering money or trying to buy illegal items, there's no reason to invest in something so fragile. In America, the FDIC insures up to $250,000 so if your bank gets hacked, you're still guaranteed your money, up to that point. Since there are little to no regulations on crypto currency you can't consider any of it secure. Also, you can buy basically anything (legally) with cash or a debit card.

    So unless you're a criminal in some way, I don't see ANY advantage in investing in crypto currency.
     
  16. RivenMain

    RivenMain GBAtemp Regular
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    When your looking to buy a gpu and the guy tells you "they pay for themselves~" If I wanted to mine I'd buy a pickaxe :'3
     
  17. Boured

    Boured A Dusk Lycanroc who cares a lot about people.
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    Makes sense then, I mean a 1070 for the same price as a 1080 Ti


    That's pretty tresh.
     
  18. petethepug

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    Either that or the electronic items for video graphics the world mines up would become completely gone off the planet. Either making a huge rise in electronic equipment or a huge drop in value once people move off to other materials.
     
  19. endoverend

    endoverend AKA zooksman
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    Don't confuse investing in cryptocurrency with investing in mining hardware. You can invest in cryptocurrencies themselves without having to mine them. Investing in mining is generally pretty stupid, because most coins have difficulty bombs enabled such that mining becomes harder and harder and less and less profitable in order to maintain a finite supply. However, you can just invest in a cryptocurrency the same way you invest in stocks.

    You're right that cryptocurrencies can tank, but they can also shoot up in ways that make more profits than any kind of index stock fund. Of course it's a risky venture, but it's mostly just people who have extra money to set aside for a risky investment. Are they "smart" investments? You could argue either way. There are tons of people who have made huge amounts of money off simply researching tons and finding out which coin would shoot up next, which in this case was Ethereum.

    Also, I don't understand what you're saying about Bitcoin never getting back to where it was. It reached its all time high of $3,000 about a month ago, and it's at $2,300 right now, mostly due to concern over some protocol changes at the end of this month. It's not really that far from where it was, and tons of major market analysts are betting on it continuing to rise. In 2014, Bitcoin reached its then all-time high of about $1,000, but then continued to drop slowly for the next two years as some people lost interest. Many people said it would never again reach that high, but this year it almost tripled that value.

    These are long-term investments, and we're talking years. The blockchain behind these currencies is an incredible technology, and really, when you're investing in cryptocurency you're investing in that. A lot of people legitimately believe that in countries without a strong fiat currency, coins like Bitcoin and other altcoins have a legitimate chance at seeing widespread adoption. We're not there yet-- so you're right, there really is no reason to invest for personal use right now. But for future gains, many people would say that these are some of the most solid investments around.

    EDIT: Also, about the security bit, there are plenty of ways you can keep your cryptocurrency safe. There are hardware storage options such as flash drives, special hardware wallets, and even sets of private keys on paper that you can use to access your wallet. These can all be kept in cold storage and safe deposit boxes.
     
    Last edited: Jul 20, 2017
  20. gudenau

    gudenau Largely ignored
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    Wow, that is kind of crazy.

    Security audits are important for things like this.
     
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