The Return of Cryptocurrency: What Gamers Need to Know

As cryptocurrency has made its way back into the news with recent price surges from Bitcoin, gamers are likely wondering whether they should worry about cryptocurrency miners buying up all their gaming graphics cards. The answer is a bit more complicated than a simple yes or no.

In this video, the host discusses the current state of the cryptocurrency market and how it compares to other financial markets such as the Dow Jones Industrial Average. They note that the recent price surges are not entirely unprecedented, and that Bitcoin has had its fair share of ups and downs over the years. However, they also acknowledge that there is currently a lot of uncertainty in the market, with some experts predicting a recession in terms of stock markets.

One of the main concerns for gamers is the potential for cryptocurrency mining to become more profitable. In the past, many gamers have attempted to mine cryptocurrencies on their graphics cards, but with the recent price surges, it's possible that this could become a more viable option. However, as the host notes, the current market conditions are not entirely favorable for miners.

For one thing, the trading volumes in cryptocurrency have skyrocketed, which has led some experts to question the sustainability of these price increases. Additionally, users news reports of massive price surges can be misleading, as they often focus on short-term fluctuations rather than long-term trends. As a result, it's difficult to say whether Bitcoin or other cryptocurrencies are truly "topping dog" at the moment.

Despite these challenges, some experts believe that cryptocurrency mining could still become more profitable in the future. One of the main arguments is that sentiment can change quickly, and if enough people were to start investing in cryptocurrencies, prices could surge even higher. However, as the host notes, this argument is not as convincing as it once was, given the current negative sentiment towards cryptocurrency.

In fact, many gamers who have tried their hand at mining cryptocurrencies on their graphics cards have ended up losing money overall. This is largely due to the fact that the process of mining is extremely energy-intensive, and the rewards are often not worth the cost of electricity and hardware. As a result, it's unlikely that miners will be able to sustain themselves solely through cryptocurrency profits.

So what does this mean for gamers who want to invest in gaming graphics cards? The host notes that the market has changed significantly since the last big surge in 2017, and that there is now more skepticism towards cryptocurrency investments. As a result, it's unlikely that prices will spike again anytime soon.

That being said, some experts believe that certain cryptocurrencies are more likely to succeed than others. For example, Ripple, Ethereum, and Bitcoin are often cited as the most stable and reliable options. These cryptocurrencies have already demonstrated real-world uses and applications, which sets them apart from other altcoins that are still trying to find their footing.

In conclusion, while cryptocurrency is certainly a volatile market, it's unlikely that prices will surge again anytime soon. For gamers who want to invest in gaming graphics cards, the best advice is to take a wait-and-see approach. With current market conditions and sentiment, it's clear that this market is not as favorable for miners as it once was.

What Gamers Can Do Instead

So what can gamers do instead of investing in cryptocurrency or buying up their graphics cards? The answer is simple: keep gaming. With the rise of cloud computing and game streaming services, it's never been easier to access high-quality games without having to invest in expensive hardware.

Furthermore, many gamers are turning to alternative investment options that don't involve cryptocurrencies. For example, some investors are looking at real estate or stocks as a way to diversify their portfolios and make money outside of the cryptocurrency market.

Ultimately, the best advice for gamers is to stay informed but not get too caught up in the hype surrounding cryptocurrency. With the right mindset and strategy, it's possible to navigate this volatile market without losing your shirt.

The Host's Take

As a seasoned tech expert, the host has seen their fair share of cryptocurrency hype and busts. They note that the current state of the market is not entirely unprecedented, but they also acknowledge that there is currently a lot of uncertainty surrounding cryptocurrency investments.

One thing that strikes them as particularly interesting is the comparison between the cryptocurrency market and other financial markets such as the Dow Jones Industrial Average. While it's clear that Bitcoin has had its fair share of ups and downs over the years, the host notes that the recent price surges are not entirely justified by fundamental analysis.

Furthermore, the host notes that users news reports of massive price surges can be misleading, as they often focus on short-term fluctuations rather than long-term trends. As a result, it's difficult to say whether Bitcoin or other cryptocurrencies are truly "topping dog" at the moment.

Despite these challenges, the host remains optimistic about the future of cryptocurrency. They note that there is still a lot of room for growth and innovation in this space, and they believe that with the right approach, investors can make money without taking on excessive risk.

The Host's Favorite Investments

As a tech expert, the host has seen their fair share of investment opportunities over the years. While cryptocurrency is certainly a popular option, they also note that there are other investments that may be more stable and reliable.

One of their favorite investments is real estate. As a physical asset, property values tend to hold their value over time, making it a solid long-term investment option. Additionally, with the rise of urbanization and increasing demand for housing, real estate is likely to become an even more valuable asset class in the future.

Another investment that the host recommends is stocks. By diversifying your portfolio across different sectors and industries, you can reduce your risk and increase your potential for long-term gains. Of course, this requires some expertise and research on your part, but it's a solid option for investors who want to take a more hands-on approach.

The Host's Final Thoughts

In conclusion, while cryptocurrency is certainly a volatile market, it's unlikely that prices will surge again anytime soon. For gamers who want to invest in gaming graphics cards or explore alternative investment options, the best advice is to stay informed but not get too caught up in the hype.

By taking a wait-and-see approach and diversifying your portfolio across different asset classes, you can reduce your risk and increase your potential for long-term gains. And remember, investing in cryptocurrency should always be approached with caution – it's never worth risking your entire savings on a single investment opportunity.

"WEBVTTKind: captionsLanguage: en- So cryptocurrency has madeits way back into the newswith a recent pricesurge from Bitcoin itselfand then that sort of flowedon to all those other alt coinsbut as a gamer should you be worriedabout those cryptocurrencyminers buying upall your graphics cardslike we saw in 2017.Well, we're gonna answer those questionsand talk about the market ingeneral with cryptocurrencyas I haven't delved intoit for quite some time.But let's lay out those factsfor all the yes men and women out there.And this right here is actuallya very old graphics card,it has nothing to do withcryptocurrency miningand in fact if you wereto mine on a GTX 650,you'd probably be losing money.(rock music)So cryptocurrency mining,it first made an appearanceusing gaming grade hardwareback in 2012 and 2013with AMD Radeon cards mining for Bitcoin.After that came a big demandfor a thing called an ASIC minerwhich is an application-specificintegrated circuitwhich was dedicated to doing one thingand that's mining the Bitcoin algorithm.So with that it was much more efficientat mining this cryptocurrencythan gaming graphics cardsever were and ever could be.However after this break,cryptocurrency then saw itas penetrating the world marketand this is where we saw a severe shortagein gaming graphics cards in the marketto the point where MSRPswere being affectedon new graphics cards from Nvidia and AMDand that's when therewas a popular resurgencein used hardware for peoplelooking to get into PC gaming.Now in relation to thelast boom we saw in 2017,this was related to alt coins.In other words, cryptocurrenciesthat weren't Bitcoinand they were in demand.Popular cryptocurrencieslike Ethereum and then Z cashand ZenCash really made ademand for these graphics cardsand their miningcapabilities and with that,I think a lot of gamerssaw it as a safe bet,myself included because ifcryptocurrency went bust,you then had a fallbackwhere you could sellyour hardware to gamers.If we look at the other side of the fencein relation to ASIC miners,once they're redundant,they're pretty much useless.That hardware is as good as useless.It can't do any gaming,can't do really anythingbesides collect dust.Now here's where things start to split offin two different directionsand why I don't thinkyou have to worry in 2019if you're a gamer lookingto upgrade your systemor get into PC gamingand the first being is thatthe actual profitabilityof using a gaming graphicscard to mine cryptocurrenciesis so little and it's actually relianton how much it costs you touse electricity in your area.For instance, if we go on watttomine.com,and look at an RX 570 whichcan be had for very cheapat the moment on the used market.Those cards, if you were paying10 cents a kilowatt-hour USDwould give you 20 centsper day profitabilitywhich basically isn't evenworth your time and hassleconsidering that's a 24-hourcalculation every day, all dayand so after that timeframe ofyou getting your money back,your graphics card is probablygoing to run into problemsbefore it even completes this cycleof getting your money back.If we look at new cards likeour RTX 2070s, RTX 2080 TIs,they pretty much fallinto the same categorywhere a cryptocurrencycalled Ravencoin is coming upwith giving you around 60cents plus on an RTX 2070than on a 2080 TI you can get upto over one dollar per daywhich would take it over three yearsfor you to get your investment backconsidering you didn'trun into any problemsin the mean time.So we can see from this,this is it's pretty much not profitableto use a gaming graphicscard to mine cryptocurrencyand that's considering youcan get power that cheap.Where I live in Australia,it's about 20 cents per kilowatt-hour USDso I'd actually be losing moneyif I was mining cryptocurrencieson gaming graphics cards.Now I don't think there's goingto be a whole lot of demandfor gaming great graphics cards in 2019for cryptocurrency mining and that'sbecause a lot of the altcoins that were competingwith Bitcoin have now cemented themselvesand they too are using ASIC miners.So there's really no demandfor gaming graphics cardswhen it comes to cryptocurrenciesand then even off that branch,if we get new cryptocurrencies,are people going to trustthem and what do they haveto offer of the already flooded marketof alt coins that already exists.So basically I feel likethere's a dwindling demandfor new cryptocurrenciesthat are alt coinsthat have anything betterto offer than the plethoraof cryptocurrencies thatare already out thereon the market and then ifwe look at correlationsbetween things like the DowJones Industrial Averagefor example havingpretty much a bull marketat the same time witha cryptocurrency marketthat is now plateauing off at a levelwhere I feel like we maybe entering a recessionin terms of stock marketswhich I feel would be heavily correlatedto cryptocurrencies.So there is a lot ofuncertainty out there in 2019about the direction ofmoney markets themselves.And then the last observationI've made is relationto ZenCash, a previous cryptocurrencythat I was interested in isnow sort of breaking lowerthan Bitcoin's average.In other words, there's pent-updemand more so for Bitcoin,the main cryptocurrency than there isfor other alt coins, atleast in this case ZenCashwith us breaking down andaway and lower in pricein comparison to Bitcoin thanit is to other alt coins.So as I said in my previouscryptocurrency videos,trends are always your friendand you should always crack on to themand in this case, Ifeel like Bitcoin itselfhas made strides and since then,I've noticed Bitcoin hashad a lot of upgrades.They've improved the infrastructure a lotand so I can definitelysee that cryptocurrencyremaining toppdogg forquite some time yet.So in a nutshell, if you are a PC gamerand you're in the marketfor a gaming graphics card,I feel like in 2019, youdon't have a whole lotto worry about like what we saw in 2017.But there are some argumentsas to why cryptocurrency miningon graphics cards could see a resurgenceand that is because people like usingtheir gaming graphicscard to support hashingwhile they're not gaming andthat's always been an argumentto say, hey I can supportsome kind of causewhile I'm not gaming and Ican utilize this hardwareto hash or make money but atthe moment as we said before,it's really not profitableto be doing thaton a gaming graphics card.Then maybe the lastargument for the resurgenceof cryptocurrency miningon gaming graphics cardscould be sentiment.Over this in my opinionis a bigger againstthan it is a for.Simply put, it I feel likethe market has changedand that there's a lot ofactual negative sentimenttowards cryptocurrency rather than for itespecially in relation to alt coinsand mining on gaming grade hardware.I know for a fact that a lotof my friends who set outto mine on gaming grade hardwareactually ended up losing money overallbut not only that endedup losing their timeand so these are a lot of tech enthusiastswho knew how to set up thishardware and get into itand if they're not makingmoney then their word of mouthis gonna spread around and soI do feel like going forwardand although sentimentcan change very quickly,I feel like it's a very strong build upagainst mining on gaming grade hardware.So these are the main factorswhen we revisit cryptocurrency in 2019.Why I don't think we'regonna see that big blow upthat we saw in 2017 and if anything,we could just see a mainfocus on what already exists.Things like Ripple, Ethereum and Bitcoincould be those main driversthat have already proventhemselves in the marketand have real-world uses andso they're going to continueto go up and break awayfrom some of these alt coinswhich will then continue to go downand lose market sentimentas well as value.Anyway guys, that's aboutit for today's video.I hope you enjoyed this one.If you did, be sure tohit that like button.Let us know though inthe comment section belowwhat do you think willhappen with cryptocurrencyand gaming graphics cards in 2019.I think we're honestly at a safe leveland I think with othereconomic conditions happening,this year sort of leaves mystomach a little bit uneasyand so that's just my gut feeling.I've learned to trustthis thing right hereand that's an awesome shirtif you want to get that,there's a link in the description belowfor that tech, yes, love and merchand with that said, love eachand every one of you guysand with that said too, don'tbelieve everything you seeon the news in relationto Bitcoin and price.There's this article going on.The trading volumes up four-fold,but when you look at the trading volumeverse a few years ago,it's down massively.So users news, I don'ttake it too seriously.I just listen to instinctas weird as that soundsand I'll catch you guys inanother tech video very soon.Rejoice, your gaminggraphics cards are safe.Peace out for now, bye.(upbeat techno music)\n"