Video Card Prices Have Significantly Dropped
Practically every gamer remembers when video cards were prohibitively expensive. And practically every player begins to despise mining as a result. Many people are unable to purchase video cards due to price increases caused by mining.
Things are starting to change now. Video card costs have decreased dramatically in the last few months. What exactly does it mean? Is Crypto dead? Will Crypto recover?
In this post, we will try to answer that question. Also, we will explore the topic of cryptocurrency and how it affects video cart costs.
Let’s start.
What is the current state of GPU pricing?
Right now, there are big changes in the market. Prices are falling.
Most GPUs are only $200-$300 more expensive than the current retail price. An extra $200-$300 is still out of reach for many buyers anxious to upgrade their Computers, but it’s a lot better than paying twice or triple the amount that some dealers were asking for new GPUs and consoles only a few months ago.
Devices are becoming even more affordable, with the Xbox Series S now available for the standard $300 Pricing from most shops. And, most of all, the stock isn’t evaporating as soon as new units arrive.
Why video cards were expensive?
The answer is simple.
The bitcoin and NFT explosion is the primary cause. Many who follow the sector recall the heyday, when nearly everyone sought to mine and make “easy” money. A big number of individuals began purchasing powerful video cards. That is why firms and startups began to do it.
As a result, there are a plethora of bitcoin casinos with free spins. The “crypto royal game” gained traction and began to overwhelm traditional players.
This resulted in scarcity and a significant spike in card prices. As a result, many regular gamers were unable to upgrade their Computer. It’s difficult to determine how it influenced the gaming industry: did it halt its development or gave birth to a new one? Yet one thing is certain: video cards have long been a pricey elitist delight.
Why are GPUs finally becoming more affordable?
Many gamers are happy, but many have a question: why have prices dropped? Here are a few factors to consider.
Firstly, third-party resellers aren’t experiencing the same level of demand that they had a year or two ago. That’s partly because the American economy is still struggling from the COVID outbreak, and some customers aren’t buying pricey luxury products like graphics cards. GPU sales are actually increasing (because of manufacturers’ reduced prices and increased availability), therefore fewer buyers need to buy through eBay and other resellers.
Gamers’ odds of getting a higher GPU are increasing dramatically.
In addition, the cryptocurrency and NFT markets are slowing. Whether this is an indication that the bubble has finally burst or that the market is momentarily stagnant depends on who you ask, but the conclusion is that fewer crypto mining businesses are purchasing graphics cards in large quantities.
Is Crypto Mining Still Effective in 2023?
Is Crypto dead? To comprehend if Crypto Mining is still viable in 2023, we must first grasp how it works and how the future of its legality will unfold.
In layman’s terms, this procedure is carried out by having computers answer complicated mathematical problems; miners compete to solve the problem, and the quickest computer to solve the question is paid in BTC while validating the next block.
As previously said, this increased demand for GPUs, escalated console pricing and promoted other bitcoin casinos such as Bons.
Is it effective to engage in mining now?
Yes, bitcoin mining will continue to be profitable in 2023.
Yet, it may not be as fruitful as in the past. The majority of cryptocurrencies are still valuable, but assessing miner profitability is more difficult given that mining technology requires expensive computer hardware and software, as well as the power to function.
Bitcoin, the largest and oldest cryptocurrency that uses a proof-of-work consensus technique, is one of the key sources of cryptocurrency mining. Before deciding if mining for Bitcoin or other cryptocurrencies is beneficial, it is critical to understand how crypto mining works and the pros and downsides.
Independent BTC mining?
Currently, it is nearly hard to create an autonomous BTC mining pool since competition is so fierce that warehouses full of computers are required to compete. Individual traders who want to mine BTC can join an active Mining Pool, which is a community of miners that are geographically scattered yet work together to compete with the larger mining farms.
The fees of joining a Mining Pool ought to be constantly considered when deciding if it makes financial sense for you. Most Bitcoin mining pools charge fees to participate; your mining costs might range from 0% to 4%. The size of your gold mine also has an impact on your payment, since the larger the pool, the lesser the rewards.
Finally, mining BTC or any Proof of Work cryptocurrency in the United States may become unlawful. According to White House sources, the United States Congress may submit legislation to legally prohibit mining.
In addition to the prospective legalization of the technique, Ethereum, the second largest cryptocurrency by market size, just abandoned PoW in favor of PoS on September 15th.
Conclusion
Thus we now know that mining isn’t dead. It’s just not as profitable as it used to be. Therefore, we do not advocate that you begin mining on your own. To mine BTC, you must be ready to spend hundreds of dollars on GPU and CPU hardware or join a trustworthy mining pool.
As an alternative, you should attempt stacking. You may stake your assets on popular exchanges like as Coinbase or Kraken. In addition to the hundreds of DeFi Apps and Node Validator options. You may directly stake major cryptocurrencies like Algorand on Coinbase. Staking can be profitable within hours depending on price activity.
