Crypto transactions have been completely banned in China. Although some residents are disappointed, GPU fans could expect positive effects from the ban.
The Chinese government recently announced that crypto transactions are considered illegal in giant Asian countries. As of the moment, China is one of the nations that have the most digital miners.
Because of these, their GPU supplies are usually insufficient because of hoarders. If you are asking what is the connection of this computer component with crypto, Bitcoin, Ethereum, and other digital coins require insane PC power if you want to mine more coins than ever.
As of the moment, experts still believe that the computer chips shortage would last longer than expected. But, some experts claimed that the sudden crypto ban in china would solve the issue, allowing AMD, Nvidia, and other giant SoC manufacturers to meet the consumers’ demands.
The possibility here is that as crypto miners get rid of their own stock of GPUs, releasing them back into the market, availability will naturally go up as prices, hopefully, come down. If both of these things occur, more people will be able to get hold of newer Nvidia and AMD cards that can be used for gaming and general PC use.
AMD and Nvidia GPUs Could be Cheaper
The news offers a glimmer of hope for those who have spent the best part of 2021 being unable to purchase components. However, people are being urged to take caution if they do decide to purchase one of these ex-crypto mining cards and that they are wary about a product’s condition.
However, you still need to remember that the graphics card shortages caused by crypto mining could also become worst at some point, even when other countries follow China’s banning decision.
There’s also an analysis that shows that chip shortages may even lead to an oversupply of graphics cards by 2023. The gist is that it’s difficult to know exactly what’s around the corner. Rumors from experts say one thing, while analysts are saying another. There may be a chance that this could go on for at least another year, but the recent ban in China on crypto definitely seems like a step in the right direction.
Why Digital Currency is Unsafe?
Blockchain experts explained that there are various reasons why cryptocurrencies are still considered unsafe. These include some factors that the rising digital currencies are relying on.
The blockchain technology backing cryptocurrency is inherently secure, thanks to the decentralized, and the public, nature of distributed ledger technology and the encryption process every transaction undergoes.
But that doesn’t mean it’s completely secure in the same way most people consider the U.S. dollar or other established currencies to be secure. Since blockchain is not yet backed by government agencies across the globe, this financial technology still lacks some protections that many currencies have.