BITCOIN TUMBLES

Bitcoin et all have fallen from recent highs. Until demand for digital coins evaporates the prospect for the gaming community is outright dismal. At last check at various exchanges, the price was below $50,000. Fear of tapering quantitative easing and regulation weighted heavily on the markets.

CNBC figures some $200 billion in paper losses. President Biden is expected to raise long-term capital gains tax for the wealthiest Americans to 43.4%, including a surtax.

Prices will still have to fall substantially before fleabay will fill with video cards galore at fire sale prices. That happed when the studio grabbed several cards such as the GTX 1060 and the RX 480 which are still good for gaming at 1920×1080.

The problem is that the 3840×2160 panel needs more performance which meant the RTX 2080 had to be acquired at a higher cost. In hindsight, it probably would have been better to have bought two cards to run SLI to maximize gaming.

The power consumption for mining is relatively constant. In economics, this is a fixed cost. Earning from the sale of digital coins is necessary to cover the capital cost of the hardware in addition to covering the power bill. The price of digital cons needs to fall substantially to drive miners to insolvency.