Re: Bitcoin to use 0.5% of world’s electricity by end of 2018
And also the miners is keep increasing the price of VGA cards and make it rare.
it's really hard to find nvidia 1080 in my country with a logic price and the stock is almost always 0
it's really hard to find nvidia 1080 in my country with a logic price and the stock is almost always 0
It's artificial control of supply from the manufacturer. If Nvidia or AMD want, they can flood the market with so much supply, that the prices of graphic cards will drop back to their pre mining boom. It's all part of their game plan, and I am sure that they won't be changing anything to that. It works extremely well, so why would they even change things? These businesses are worth more than ever before, and they want to keep it like that. I see a lot gamers complain, but in the end they still pay the premiums because they don't have any other option. The prices won't decrease in the coming years, so either adapt to the situation or stick with lower tier graphic cards.
Dont worry mate, as long as the cryptocurrency gains dominance we would see many electronic companies that will manufacture devices that are specified for mining only. Samsung had already made its statement and it something that we can hold on.
Quote
The estimates, based in economics, put the minimum current usage of the bitcoin network at 2.55 gigawatts, which means it uses almost as much electricity as Ireland. A single transaction uses as much electricity as an average household in the Netherlands uses in a month. By the end of this year, he predicts the network could be using as much as 7.7 gigawattsas much as Austria and 0.5% of the worlds total consumption.
https://www.livemint.com/Money/3wU3b1IuMYZTl47zYkkcmN/Bitcoin-to-use-05-of-worlds-electricity-by-end-of-2018.html
With mining facilities looking to be more and more electrically efficient with the coming years, I feel they will be pushing our electrical technology to tiers that will help us on a global scale.
It'S kind of alarming how much engery is used, thats something which should be discussed, too.