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Steep decline in cryptocurrency market has miners dumping their GPUs on Ebay

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I'm going to go ahead and mark this one in the "told you so" column and move on.  Be sure to check out the full article on PCGamer

While it is difficult to predict anything when it comes to cryptocurrencies, we are cautiously optimistic that GPU pricing should start trending back to normal in the coming weeks. That could change at the drop of the hat, of course, but with the way things are now, miners are less motivated to stock up on GPUs and mine Ethereum.

That was not the case a month ago when Ethereum reached an all-time high of $300 before recording another high of more than $400 a short while later. More and more miners jumped on the crytpocurrency bandwagon in hopes of making some extra dough, and maybe even eventually striking it rich, as some early adopters of Bitcoin did. But since then, Ethereum has fallen in value, declining to a low of $133 over the weekend. It's currently trading at around $170-$180.

It has also become more difficult to mine over the past month.

This is actually great news for gamers who can now get "mildly" used GPUs on ebay at a fraction of the cost while we wait for stocks of new cards to replenish in the open market.  Of course if you would rather have a new card over one that has been running 100% for the past 4 months, and I don't blame you, then you are in luck.  The sharp decline in demand means that gamers can finally buy the video cards they want for their intended purpose.

Related Web URL: http://www.pcgamer.com/steep-decline-in-cryptocurr...

 

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