Bitcoin Crackdown In China Leads To Cheaper Video Card Prices
Whatever the cause, China has issued an ultimatum to banks and payment platforms operating in the country: don’t take Bitcoins. This has caused the price of Bitcoin worldwide to plummet to its lowest point in five months, dropping 10% in value yesterday and landing below $30,000 per USD per coin today.
Local Chinese governments have even gone after Bitcoin miners operating within their provinces. Sichuan Province, a location rich in cheap hydroelectric power, reportedly ordered all Bitcoin mining operations to cease last Friday. China accounts for roughly 65% of all Bitcoin mining worldwide in 2020.
This two-pronged assault on Bitcoin has not only caused the price of Bitcoin to crash, but it’s also bringing down the price of video cards too. That’s according to the South China Morning Post (thanks, Kotaku!) which recorded a massive drop in GPU prices on Chinese e-commerce platforms.
Some video cards dropped almost two-thirds of their value. An Asus RTX 3060 would have cost you 13,499 yuan($2,084.40 USD) two weeks ago, but now it'll only set you back 4,699 yuan ($725.58 USD). That's still way over MSRP, but it's at least back down to within visible heights rather than somewhere in the Earth's stratosphere.
Since China accounts for so much of the world's Bitcoin mining, this will almost certainly have a trickle-down effect on the rest of the world's GPU prices.
Posted:
Related Forum: PC Gaming Forum
Source: https://www.thegamer.com/bitcoin-crackdown-china-cheaper-video-cards/
Related Articles
Comments
Latest Downloads
- 01. SnowRunner: SaveGame (all trucks are open) [32.1](1)
- 02. [PS4/EU] Hatsune Miku: Project DIVA Future Tone 100% Trophy Save(1)
- 03. Silent Hill 2 Remake: SaveGame (Motel Jacks, NG+)(0)
- 04. Phasmophobia: SaveGame (XX-2000, $594,965,799, 3 apocalypse skulls + bonus)(2)
- 05. Satisfactory: SaveGame (Observation deck)(1)
- 06. [EU] Sniper Elite 5 - Best Of The Best (CUSA16075)(5)
- 07. Voices Of The Void: SaveGame (All improvements for work + 7 days passed) [0.8.0](1)
- 08. Silent Hill 2 Remake: SaveGame (NG+, ending "Maria")(1)
- 09. Five Nights at Freddy's- Security Breach Save(9)
- 10. Commandos 2 - HD Remaster: SaveGame (All missions are open)(0)
- 11. Black Myth: Wukong - SaveGame (100%, NG++)(3)
- 12. Mindjack save xbox(0)
- 13. mindjack ps3 save(0)
- 14. Lies of P: SaveGame (game completed 6 times, hero level 124)(1)
- 15. Shadow of the Ninja - Reborn: SaveGame(0)
Latest Tutorials
- 01. PS3 HEN - Audio via a USB headset.(296)
- 02. Stumble Guys | Social Butterfly Achievement(196)
- 03. Last Days of Lazarus Achievement Walkthrough (Xbox/PS)(1,454)
- 04. EDENGATE: The Edge of Life - 100% Trophy/Achievement Guide(1,820)
- 05. Sherlock Holmes Chapter One | Walkthrough | No Commentary(1,460)
- 06. Morbid: The Seven Acolytes | Full Game Walkthrough(2,428)
- 07. Adam Wolfe | Full Game Walkthrough | No Commentary(1,571)
- 08. ALFRED HITCHCOCK: VERTIGO - 100% Walkthrough(1,879)
- 09. SHERLOCK HOLMES THE AWAKENED | Walkthrough | No Commentary(1,328)
- 10. Space Roguelike Adventure | Guide - Cheat Code!(1,526)
- 11. DETECTIVE Stella Porta Case | Trophy & Achievement Guide(1,190)
- 12. Tunic 100% Platinum Walkthrough | Trophy & Achievement Guide(1,817)
- 13. Outbreak: The Nightmare Chronicles Achievement Walkthrough(1,455)
- 14. Full Void 100% - Trophy & Achievement Guide(1,438)
- 15. Outbreak: Lost Hope #Xbox Achievement Walkthrough(2,274)
"Bitcoin Crackdown In China Leads To Cheaper Video Card Prices" :: Login/Create an Account :: 1 comment