Does Nvidia’s Change Really Impact Crypto?

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A lot of attention has been paid to many of the different big markets across the world throughout the start of the year as the big GameStop squeeze has attracted a huge number of retail traders and brought different trading access to a wider audience, and with that there has certainly been growing interest in the crypto market once again seen as some like Bitcoin had managed to hit their highest ever price during this period of time – much like playing the biggest non-gamstop betting sites here at Max however, playing the market is one big bet and there’s no guarantee you’ll get it right, and different news can have a different impact too – and one bit of news that hit the crypto market recently had certainly done that as one of the big names in graphics cards, Nvidia, announced that they would be changing their hardware for a big impact on crypto mining.

The biggest target seems to be Ethereum, but the change does impact crypto mining as a whole too – the change announced was that the latest release in the 3060 would have a changed chip, if it was detected that the card was being used for Ethereum mining in particular then the card would throttle the hash rate and slow the process down. This change was made due to the huge scalping and botting issue within the industry as the big new releases have had huge supply issues for a few years now, with the latest cards being no different – Nvidia had also suggested at the same time that they would be releasing a new chip specifically aimed at crypto miners to help here too, by stabilising the market for the gaming GPU’s and creating a more specialised market for mining rigs.

(Image from wccftech.com)

Will this have a wider impact on crypto though? It’s a little too early to say – if the newer chips are really that much better for mining then perhaps it could cause a small change, faster hash rates at a cheaper price could lead to a growing amateur market and of course any time something new is introduced it does lead to a small bump in interest regardless which shifts prices – but in the longer term it will all depend on performance and cost relative to existing options, and whether or not the same issues are found in the mining specific chips where supply demands can’t be met and it causes a difficult market of scalpers and botters. It may also be reliant on what currencies the changes impact specifically – changes to the big two in Bitcoin and Ethereum will have the biggest impact, but there are plenty of different cryptos that are growing and could grow further too because of this change.