Bitcoin CRASH: Cryptocurrency PLUMMETS 60 per cent in MONTH as market continues to tumble

[mrchow19910319]

"calm down guys, it's the invisible hand doing its work" . /s

@DrMacintosh

[Blademaster91]

54 minutes ago, Derangel said:

Don't count on it. Things are going to get worse. It was just announced that Silicon Wafer prices are going up 20%.

Nvidia and AMD AIB partners also announced they would start raising GPU MSRP's due to the shortage.

55 minutes ago, Canada EH said:

Because the Dow Jones plummetted 1150pts too which is historic

Which means gold has risen

 

Due to NK and Trumps USA

 

might be a good time to buy crypto and invest in stocks since they are so cheap

No,stocks were very high,the drop is just the market correcting itself.

Invest in some stocks,IMO I wouldn't trust unstable crypto.

[Poofu]

People act like this is why GPUs are insanely inflated, it's the RAM shortage leading to the GPU shortage. Miners for alt coins can just afford to pay 1.5-2x the cost for a card because they can make money off of it odds are the GPU shortage would still be here without them.

[i_build_nanosuits]

1 hour ago, TheKDub said:

Percent*

that's how they wrote it in the arcticle

 

[Jito463]

1 hour ago, Poofu said:

People act like this is why GPUs are insanely inflated, it's the RAM shortage leading to the GPU shortage. Miners for alt coins can just afford to pay 1.5-2x the cost for a card because they can make money off of it odds are the GPU shortage would still be here without them.

There's a (small) chance of a shortage regardless of CC, but the prices wouldn't be as astronomical as they are if miners weren't buying up all the inventory.

[Gix7Fifty]

Well it's really starting to resemble the dot-com crash. 

[Jito463]

3 minutes ago, Gix7Fifty said:

Well it's really starting to resemble the dot-com crash. 

I've been saying that for a bit now.  No product, nothing tangible, yet has millions of dollars poured into it.  A few will get out rich, but the rest will just be socked with the leftover debt.

[Shreyas1]

Buy it while it's cheap 

 

/s  

[Energycore]

2 hours ago, i_build_nanosuits said:

Is it FINALLY the end of this craze? will we be able to buy GPU at MSRP or even bellow soon?...i guess lots of folks will want to minimize the damage and sell their cards quickly to get some money back...so keep an eye open for a deal on some nice slightly used cards folks!

We will know whether this is a real crash during the week as we haven't broken the support of the last low before the December craze. There's a lot of elements that justify the dump, for one we were terribly overextended on what should be a healthy price growth, and January is usually a time when cryptos lose value anyway. That's on top of governments coming out to regulate it finally and that's created fear on people.

[TrueMegaManiac]

Glad I told my mom to avoid investing in bitcoin.

[SteveGrabowski0]

3 hours ago, elderago said:

I wish etherium would drop Id like to upgrade my 970 to a 1070 please

With a 970 in hand you should probably wait for Volta, but if you want to buy Pascal the 1070 Ti is much better value if the cards drop to MSRP.

[mr moose]

28 minutes ago, Energycore said:

 governments coming out to regulate it finally and that's created fear on people.

The only people who fear government regulation of CC are the ones that don't understand how economics work.   

[Brooksie359]

3 hours ago, Imbellis said:

Eh, I wouldn't call it gambling. If you actually know what you're doing, there's tons of money to be made. If you're in it for the luls, don't expect to get rich.

It is gambling as much as gambling on a horse race or an sports game is. You can know a lot of information and make the best guess as to what is going to happen based on statistics and what have you but at the end of the day you are still gambling. With cryptocurrency it is even more of a gamble because there is no way to know when the price is going to rise or plummet unless you are trying to force it to do one or the other which isn't possible without a lot of cash.

[Brooksie359]

2 hours ago, Poofu said:

People act like this is why GPUs are insanely inflated, it's the RAM shortage leading to the GPU shortage. Miners for alt coins can just afford to pay 1.5-2x the cost for a card because they can make money off of it odds are the GPU shortage would still be here without them.

That's because when one person buys 20 gpus it's very easy for there to be a shortage where as if it is just gamers buying 1 or maybe 2 in some cases then you wouldn't see shortages or if you did they would be much less severe. 

[RagnarokDel]

3 hours ago, RorzNZ said:

Me in 2011: This bitcoin thing is laughable how can it compare to the real thing? What a gimmick
Me in 2013: Well its worth something, but I cant be bothered with it.

Me in 2017: Oh, well I sure should have invested.
Me now: nvm.

if you had spent 1000 on bitcoin in 2011, you would be up a at least 1000%.

2 minutes ago, Brooksie359 said:

That's because when one person buys 20 gpus it's very easy for there to be a shortage where as if it is just gamers buying 1 or maybe 2 in some cases then you wouldn't see shortages or if you did they would be much less severe. 

Lol you're funny, the reason ram shortages are a thing is not because people are buying 20 GPUs, it's because phones started using the same ram as PCs.

[mr moose]

1 minute ago, RagnarokDel said:

if you had spent 1000 on bitcoin in 2011, you would be up a at least 1000%.

but would you be able to sell it? is anyone buying?

[Energycore]

5 minutes ago, mr moose said:

but would you be able to sell it? is anyone buying?

Yes, tons of people are buying because a lot of traders are looking to get in on this crash and expect it to go back up slowly over time.

 

I'm on the same boat, but I'm playing it safe and waiting for the bounce to be confirmed in the charts.

[Brooksie359]

3 minutes ago, RagnarokDel said:

if you had spent 1000 on bitcoin in 2011, you would be up a at least 1000%.

Lol you're funny, the reason ram shortages are a thing is not because people are buying 20 GPUs, it's because phones started using the same ram as PCs.

Ok first off that doesn't mean anything. That's like saying if you had bought apple stock before they came out with the iPod you could multiply your money more than 30 times over. It is still gambling if you are just investing a currency that nobody knows for certain the value will imcreace. You can make an educated guess but they same goes for a lot of different gambling. Also let me be clear how supply and demand works. They are limited on supply because of the ram issue so there are only so Many gpus to go around which is fine as long as your supply can reach the demand for gpus. Problem is demand isn't what it would be if there was on cryptocurrency craze so it is way inflated meaning that supply can no longer meant demand and ends up with a shortage. If there was no mining and you didn't have a ton of people buying 10 plus gpus to mine with there is a high likelihood that the supply would be sufficient or close enough to not cause major shortages. The ram issue has been present for a while and this shortage is only recent which would indicate is a result of the cryptocurrency. 

[Techicolors]

39 minutes ago, SteveGrabowski0 said:

With a 970 in hand you should probably wait for Volta, but if you want to buy Pascal the 1070 Ti is much better value if the cards drop to MSRP.

at MSRP, i'd jump to a 1080 

[Kamina]

That spike!

[Shreyas1]

10 minutes ago, Brooksie359 said:

Ok first off that doesn't mean anything. That's like saying if you had bought apple stock before they came out with the iPod you could multiply your money more than 30 times over. It is still gambling if you are just investing a currency that nobody knows for certain the value will imcreace. You can make an educated guess but they same goes for a lot of different gambling. Also let me be clear how supply and demand works. They are limited on supply because of the ram issue so there are only so Many gpus to go around which is fine as long as your supply can reach the demand for gpus. Problem is demand isn't what it would be if there was on cryptocurrency craze so it is way inflated meaning that supply can no longer meant demand and ends up with a shortage. If there was no mining and you didn't have a ton of people buying 10 plus gpus to mine with there is a high likelihood that the supply would be sufficient or close enough to not cause major shortages. The ram issue has been present for a while and this shortage is only recent which would indicate is a result of the cryptocurrency. 

Well, technically you can only make educated guesses in the stock market, so by your definition, investing in stocks is just gambling 

[Brooksie359]

Just now, Shreyas1 said:

Well, technically you can only make educated guesses in the stock market, so by your definition, investing in stocks is just gambling 

I see we are on the same page here. Investing in stocks is basically gambling. I mean there are ways to do it that are less like gambling and those Are what you do for 401k and what not but at the end of the day it is basically gambling especially if played over the short term. If you play over the long term then I might not consider it as much of gambling because if you invest in a wide range of stocks you should make money over the long term because that is just how the market works. Kinda like being the house at the casino. You might not win if you play the short game but eventually the house always comes out on top.

[mr moose]

Just now, Shreyas1 said:

Well, technically you can only make educated guesses in the stock market, so by your definition, investing in stocks is just gambling 

There is a lot more to stock market speculation, like market trends, known supply/demand issues,  historical trends in product performance, the influencing factors of foreign exchange rates, new laws and repealed laws that effect product viability, new markets opening up and threats to current markets. And the big ones, hedge funds and diversified investments that practically reduce the loss risk to zero. So if we compare this to bitcoin which has very little history that can be used to predict outcomes then I'd be more inclined to call CC gambling and the stock market gambling if you don't know what you are doing.

[Shreyas1]

1 minute ago, mr moose said:

There is a lot more to stock market speculation, like market trends, known supply/demand issues,  historical trends in product performance, the influencing factors of foreign exchange rates, new laws and repealed laws that effect product viability, new markets opening up and threats to current markets. And the big ones, hedge funds and diversified investments that practically reduce the loss risk to zero. So if we compare this to bitcoin which has very little history that can be used to predict outcomes then I'd be more inclined to call CC gambling and the stock market gambling if you don't know what you are doing.

I was just saying that by his definition of gambling, the stock market is technically gambling, though I do agree it does take more effort to do well in the stock market

[RagnarokDel]

The Dow Jones is down 4.6% today. At one point it was down 10%