Crypto News | More NVIDIA GPUs Coming Up

Ever since cryptocurrencies really took off last year, the price of GPUs has been rising steadily. This is quite unusual when it comes to computer hardware, which usually loses a lot of its value within the first year, not to mention when a new, updated version is released. However, due to crypto mining, GPU prices have been rising instead of falling – and that goes for every high-end GPU, even those which have been on the market for two-three years. As a consequence, buying top shelf GPUs (and, by extension, top shelf computers) has now became too pricy for longtime hardware enthusiasts, primarily gamers and graphic designers. Many solutions have been proposed, such as introducing waiting lists where gamers get preferential treatment, or making GPUs specifically for crypto mining. NVIDIA has announced that they opted for a third solution: increasing production. In an interview with TechCrunch, the company’s CEO Jensen Huang said that they will work hard on meeting the demand of the market. NVIDIA has been reluctant to go that route, since the company might lose out on its investment if a crypto market crash makes their increased production capacities obsolete. The other reason why the production of NVIDIA GPUs took this long to increase are ASIC miners. However, even though regular GPUs are no longer enough to mine Bitcoin, many altcoins grew in popularity in 2017, and some of them became popular precisely due to advertised ASIC resistance, meaning that they will always be mineable with consumer grade hardware. NVIDIA GPUs could exploit that.

Lower GPU prices are good news for everyone, both gamers and Monero/Ethereum miners. The latter, however, may have to pay taxes, just like crypto traders. The Australian Taxation Office (ATO), just like any other tax authority in the world, is looking into various ways of approaching crypto taxation in the country. In their latest move, the ATO has decided to seek out public input on the issue by launching a community consultation. All Australian citizens are welcome to participate. In case they would like to contribute to the discussion, they can submit their opinion by April 20.

Lastly, we have been witnessing a blockchain acceptance wave in Europe. First, The German National Tourist Board (GNTB) announced two days ago that it will be accepting payments in Bitcoin and other cryptocurrencies. On the same day, the Bank of England released an official statement saying that it is testing blockchain features, including how the renewed Real Time Gross Settlement (RTGS) service interacts with Distributed Ledger Technology (DLT). One day later, the Prime Minister of Lichtenstein, Adrian Hasler, said that the country will introduce new regulation which supports Blockchain business models.

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Author: Max Rothstein

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