NVIDIA REJIGS AMPERE

NVIDIA is rejigging the RTX 3060 and other models to make them poor performers with digital coins. The reason for the changes is to put video cards into the hands of gamers instead of digital coin miners.

After the driver in a recent insider build of windows got unto the hands of coin miners the Ampere cards are now being bought up on masse for mining.

Wagon of Fools by Hendrik Gerritsz Pot, 1637

NVIDIA is modifying the core logic to make it good for gaming and awful for mining. Other models of logic will be designed for digital coin mining. Segmenting the market seems to be the wisest course of action.

Bitcoin itself long ago moved to the current S19 dedicated mining hardware. TSMC is back ordered so more mining hardware is backordered. Bitcoin does not use video cards at all. At present one S19 is said to be earning about $25 a day so most have vast numbers of S19 mining machines.

Video cards are being used for Ethereum and other derivative digital coins. At last count there were some 5000 different derivatives.

TULIP MANIA

Tulip mania ran for several months before it blew up and caused a few decades of hardships in Holland. At the time the nation was one of the wealthiest in the world from 1600 to 1720. The tulip saga ran from 1636 and collapsed in February 1637.

While the tulip craze was extensive the Dutch government was able to keep the nation from collapse. Many individuals suddenly became rich.

Today Holland runs a large scale florist auction with pricing high and falling until somebody buys its. Holland still grows tulips and many other ornamental flowers for sale all over europe.

SOUTH SEAS

Another bubble was with the South Seas Company. The British joint-stock company founded in January 1711, created as a public-private partnership to consolidate and reduce the cost of the national debt. To generate income, in 1713 the company was granted a monopoly (the Asiento de Negros) to supply African slaves to the islands in the “South Seas” and South America. In Great Britain, many investors were ruined by the share-price collapse, and as a result, the national economy diminished substantially. The founders of the scheme engaged in insider trading, by using their advance knowledge of the timings of national debt consolidations to make large profits from purchasing debt in advance.

Ten pounds was paid for a slave aged over 16, £8 for one under 16 but over 10. Two-thirds were to be male, and 90% adult. The goal was 4800 slaves per year under a treaty. On arrival of the first cargoes, the local authorities refused to accept the Asiento, which had still not been officially confirmed there by the Spanish authorities. The slaves were eventually sold at a loss in the West Indies. It went downhill fast.

The Bubble Act 1720 (6 Geo I, c 18), which forbade the creation of joint-stock companies without royal charter, was promoted by the South Sea Company itself before its collapse. The problem was that South America was held by Spain which made and earning impossible.

The mess from the South Seas bubble depressed the British economy for years. The liquidity of the country was stretched thin and many fell into abject poverty.