more examples of absolute craziness in the graphics cards section…
Because of people’s mass delusion concerning crypto-currency, if you’re a hobbyist or a professional looking for a medium or high performing consumer graphics card… you are out of luck.
If a retailer has any, they’re insanely overpriced… to the point that you probably shouldn’t even bother buying one.
Here’s an example, the Nvidia GTX 1070 TI originally retailed for $450…
They now cost over $1000 at Newegg. A few graphics cards are almost 300% more than the original price.
AMD’s Vega 56 was also supposed to retail around $450… if you can get one, which you probably can’t, they now retail for over two times the initial price.
Now, don’t you think it’s kind of insane that people are mining a currency SOLELY so they can then sell that currency to another person… in exchange for the currency they actually want?
The fact that “returns” on people’s “investments” are calculated in USD should really tell you something. The fact that Bitcoin’s price is always denominated in other real world currencies should tell you something.
A currency that is not used as a currency and arguably can’t be used as one… is no currency. So what the hell is it? A fantasy? A scam? Mass delusion?
There are so many people involved in crypto-currency now that solely care about making as much cash as possible, real world cash, that fundamentals are completely irrelevant. They dwarf the original tech loving people who truly wished to use things like Bitcoin as modern, improved, currencies.
But for these new people, who cares about the idea of crypto-currency when you can convince other people to buy it for more than what you paid?
These people would sell you the sky if they could.
History Behind the Blue Sky Laws The term is said to have originated in the early 1900s when a Supreme Court justice declared his desire to protect investors from speculative ventures that had "as much value as a patch of blue sky." In the years leading up to the 1929 stock market crash, there were instances of companies making lofty, unsubstantiated promises of greater profits to come. Based primally on such promotional language, securities were sold without corroborating material evidence to support these claims, or in some cases details were fraudulently hidden to attract more investors. Such activities contributed to the hyper speculation of the time that inflated the market before its inevitable collapse. Source: https://www.investopedia.com/terms/b/blueskylaws.asp
What matters is they get as much of those rotten smelling US dollars as possible as fast as possible… nothing beyond that matters.