Mafia versus taxes
As card prices jumped to absurd levels, it became profitable to smuggle cards across borders. You know, high price means high duties and taxes. We received an example of such a failed operation from Asia, where the Hong Kong Customs and Excise Department intercepted a smuggling boat with 300 nVidia CMP 30HX cards on board during a spectacular action. These are dedicated “mining” cards for miners, without graphic ports, and Etherum digging at a speed of 26 MH / s.
The card is available on the Asian market and is priced on the secondary market today at over $ 700. Which means the entire load is now $ 219,600. Sick? Sick, but there is nothing we can do apart from waiting. Although they did not manage to catch the smugglers, they managed to escape with the help of fast motorboats, but it can be seen that they are no strangers to technology and economics. A large number of RAM memory kits were also found on the boat, the prices of which, according to analysts, will probably increase significantly soon.
When is the end of madness?
Can this madness end in the near future? I think not as fast as most would like. The world is destabilized by the pandemic, the boom is boosted by the entry into the crypto of more courageous institutions, the irresponsible play of Elon Musk in this topic is also important.
Nevertheless, in the long run, crypto speculation should collapse spectacularly. Personally, I expect three factors to shake this market. Firstly, there are voices today about the environmental effects of mining related to CO2, which may end up trying to regulate and tax such activities.
Secondly, I bet that after the introduction of the national cryptocurrency in China, everything else will be ruthlessly fought and eliminated there. Such a move may not only shake the course of “private” cryptocurrencies, but also destabilize them from the purely technical side. It can also be a signal for other countries to follow the same path.
Third, calming a covid situation when it doesn’t happen will naturally move money back into the normal economy. At the scale of speculation we are witnessing today, this phenomenon could cause a decline on a scale we have not yet seen.
However, it must be remembered that crypto is not everything. The second reason for the increase in the prices of cards is their poorer availability, due to large problems with the production of integrated circuits. According to recent reports, a solution to this problem should not be expected before the end of 2022.
On the one hand, it is all very funny, but probably people in a situation like mine who bought their card when crypto prices were scuffing the bottom are probably laughing. For today, I expect that in the near future we will hear more than once more about various attacks on transports, smuggling and other mafia actions with the GPU in the lead role. With these sick prices, it will just be profitable.
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