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The War Between Gamers and Crypto miners

Wednesday, December 8, 2021 9:00:00 AM Africa/Johannesburg

The War Between Gamers and Crypto miners

The War Between Gamers and Crypto miners

Why are these types of users at each other’s throats?

The latest Nvidia GTX GPUs were released during a lockdown and silicone shortage. This alone was a recipe for a perfect GPU shortage since many people had to start working and upgrade their existing PCs or build new ones, this would drive up demand to almost insane levels.

The cryptocurrency market was booming, meaning that crypto mining had mining rewards never seen before. Miners were able to pay off their equipment loans in months and get returns or profits on their assets quickly. Covid also meant that many people lost their jobs as companies cut down on operations, meaning that many people were seeking alternative forms of income.

Many cryptocurrency mining enthusiasts saw the crypto markets as a way to take their profits and turn them into something more tangible. However, with so many people buying up as much video processing unit (GPU) technology as they could get their hands on, many gamers now have an extremely hard time finding GPUs for sale anywhere so that they can build some rigs of their own!

There’s also a 3rd actor involved in the background: scalpers. The act of scalping is simply buying up all stock of an item - in this case, GPUs and then reselling it at a higher price, often double what is the RRP/SRP. Miners often don’t care so much about pricing because they can pay off the card in a few months, which is what drives scalpers to continue scalping.

In the end, the only person who loses is the gamer who is often hard done by this as they feel that they are the ones who made big manufacturers and retailers as they are today. Therefore, stores now often have strict rules like 1 GPU per user or bundle motherboards and CPUs with GPUs to turn off scalpers and miners from buying all the stock. Some stores have even put raffles in place so that random shoppers can earn a chance to buy GPUs.

Here’s just a thought: As a gamer, you might be upset with the situation at hand, but crypto mining has already saved many people during this lockdown and provided a means of income for those who are unemployed or whose careers are otherwise stagnating.

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