Crypto chip sales plummet - page 3. | Bitcointalksearch.org

eternalgloom

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I don't really see how you can make price predictions with that sort of info...
We're talking about one specific company here, while there are tons of other players on the market.

Quote from: Hydrogen on August 17, 2018, 04:57:37 AM

Is it possible bitmain or another ASIC manufacturer is ramping up production and flooding markets, leading to nvidia experiencing a significant decline?

This would be my first thought as well and if you look at Bitmain's profits from 2017, it seems pretty clear that they're dominating the market

http://fortune.com/2018/02/24/bitcoin-mining-bitmain-profits/

Besides, I think OP is kinda coming to the wrong conclusions here. Sales would go up after the price of Bitcoin rises, Bitcoin's value doesn't go up because of increased miner sales.

Hydrogen

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I remember reading a news story claiming bitcoin's 12 month hash rate was up by "155%" last month:

https://bitcointalksearch.org/topic/bitcoin-hash-rate-rapidly-rising-despite-price-4670899

Is it possible bitmain or another ASIC manufacturer is ramping up production and flooding markets, leading to nvidia experiencing a significant decline?

Quote from: jaysabi on August 16, 2018, 06:41:06 PM

Shares are now getting whacked in after-hours trading, which frankly messes no sense because they beat expectations on over all revenue and profit. Just shows that the idiotic crypto mentality has creeped into traditional investing.

So much happening in a short span of time these days. Would I be accurate if my guesses were #1 fears over turkey toxic asset contamination #2 looming fears over the US / china trade war, or #3 american lawmakers may have severely weakened Trump's plans for economic sanctions against china. Which could mean the US economy might weaken, rather than china's economy weakening.

jaysabi

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Nvidia released absolutely dismal sales related to crypto chip sales today after market close. This is another sign to me that the bear market is not reversing any time soon. Bitcoin is in a sustained decline, and I view the culprit as the stupidity and hype that sent it to $19,000 in the first place. It was unsustainable and it has now very much poisoned mentality as crypto continues to fail to prove a suitable replacement to digital fiat and traditional centralized payment processors.

Specifics on Nvidia's release:

Last quarter, they posted $289m in crypto-related chip sales, which is really a small percentage of their overall revenue. Despite that, they projected sales of only $100m this quarter, which at the time they made the prediction sent their shares down (despite it representing such a small portion of revenue). Today, they reported only $18m in crypto-related chip sales. Shares are now getting whacked in after-hours trading, which frankly makes no sense because they beat expectations on over all revenue and profit. Just shows that the idiotic crypto mentality has creeped into traditional investing.

Topic: Crypto chip sales plummet - page 3. (Read 597 times)