News Nvidia Reveals The GeForce RTX 2060 12GB GPU's Specifications

[JarredWaltonGPU]

1000 series cards came out May 27, 2016 when bitcoin what was worth approximately 2000 dollars. In the following 6.5 months its value sharply increased to over 16,000. I have no idea where you got this information. Immediately within 1 month of the release it went up 1000 dollars. As the more efficient cards released in the following months, the value continued to go up. My personal belief is that graphics card launches bring e-coins into public conversation thus increasing interest which is what bitcoin is basically propped up on. Just as stocks are propped up by the general consensus of speculation, up or down.

This is factually incorrect. On May 27, 2016, the value of Bitcoin was around $475 ($473.16 according to Coinmarketcap). By January 2017, Bitcoin was still mostly sitting at less than $1,000 (with a brief spike above that). By May 27, 2017, one year after the GTX 1080 launched, Bitcoin was at $2,155.80. This upward surge started around April (you could even argue it started around December 2016) and continued though the end of the year, when Bitcoin broke into the $19,000 range. There were some higher GPU prices in the summer of 2017, but the massive GPU shortages hit around November, and continued through the summer of 2018.

I remember this quite clearly, as the GTX 1070 Ti launched on November 2, 2017, and initially I thought, "Who really cares about this card?" It didn't immediately fly off the shelves... until people realized Bitcoin was going crazy and bought up all the GPUs. What's funny is the final paragraph of my GTX 1070 Ti review: https://www.pcgamer.com/geforce-gtx-1070-ti-review/ "There's a chance the 1070 Ti will cause retail pricing of GTX 1070 cards to drop a bit more, but we still haven't returned to the pre-cryptocurrency-craze prices of as little as $350 for a GTX 1070. Hopefully that will happen during the holiday shopping season." Famous last words, as right after I wrote that, prices shot up and you couldn't buy anything.

 

[helper800]

This is factually incorrect. On May 27, 2016, the value of Bitcoin was around $475 ($473.16 according to Coinmarketcap).

I made a mistake, I read it as 2017 and not 2016 when reading the bitcoin value timelines I was looking at. I checked the dates like 3 times before I posted and still made a mistake, I don't know how that happened... Ill stop digging this hole, call me a dingus and put me out to pasture.

 

[froggx]

This is factually incorrect. On May 27, 2016, the value of Bitcoin was around $475 ($473.16 according to Coinmarketcap). By January 2017, Bitcoin was still mostly sitting at less than $1,000 (with a brief spike above that). By May 27, 2017, one year after the GTX 1080 launched, Bitcoin was at $2,155.80. This upward surge started around April (you could even argue it started around December 2016) and continued though the end of the year, when Bitcoin broke into the $19,000 range. There were some higher GPU prices in the summer of 2017, but the massive GPU shortages hit around November, and continued through the summer of 2018.

I remember this quite clearly, as the GTX 1070 Ti launched on November 2, 2017, and initially I thought, "Who really cares about this card?" It didn't immediately fly off the shelves... until people realized Bitcoin was going crazy and bought up all the GPUs. What's funny is the final paragraph of my GTX 1070 Ti review: https://www.pcgamer.com/geforce-gtx-1070-ti-review/ "There's a chance the 1070 Ti will cause retail pricing of GTX 1070 cards to drop a bit more, but we still haven't returned to the pre-cryptocurrency-craze prices of as little as $350 for a GTX 1070. Hopefully that will happen during the holiday shopping season." Famous last words, as right after I wrote that, prices shot up and you couldn't buy anything.

GPU releases don't directly have anything to do with the price of Bitcoin because they aren't used to mine Bitcoin. ASICs were I introduced in 2013 and rapidly became the only way to profitably mine Bitcoin due to efficiency gains of a few orders of magnitude.

Ethereum mining is where all the GPUs go because the algorithm is ASIC resistant, requiring an ever increasing amount of high bandwidth memory (currently 4GB+) to perform effectively. GPUs are presently the most efficient way to get lots of fast memory.

Bitcoin is just following Ether as its value changes. It's not uncommon to mine Ether then exchange it for Bitcoin due to its high availability, relative stability and tendency to appreciate.

 

[InvalidError]

GPU releases don't directly have anything to do with the price of Bitcoin because they aren't used to mine Bitcoin.

Since BTC is the reference crypto for practically all of the other cryptos much like the USD is the reference currency for most other currencies including the BTC conversion, the "indirect" link between BTC and GPU prices via ETC mining might just as well be direct.

 

[froggx]

Since BTC is the reference crypto for practically all of the other cryptos much like the USD is the reference currency for most other currencies including the BTC conversion, the "indirect" link between BTC and GPU prices via ETC mining might just as well be direct.

This is more a matter of semantics than anything else. With multiple degrees of separation between the GPU boom and the change in BTC value, it's possible to break the chain of causation indirectly by modifying an intermediate link.

Let's say Ethereum 2.0 were to finally release and change the network to the planned proof of stake consensus, no longer using GPUs. Now GPU releases would no longer change Ethereum's value and, with that link broken, Bitcoin is also unaffected.

Imo, a direct link between GPU release and Bitcoin's value implies that there aren't any intermediate links between them. For example, if BTC was still mined with GPUs rather than ASICS or FPGAs, then a GPU release would directly change its value.

This is the kind of thing that made perfect sense to me until I tried to explain it...

 

[InvalidError]

Let's say Ethereum 2.0 were to finally release and change the network to the planned proof of stake consensus, no longer using GPUs. Now GPU releases would no longer change Ethereum's value and, with that link broken, Bitcoin is also unaffected.

Wishful thinking.

Bitcoin price is still affected by Ethereum which currently drives GPU prices. If ETC ever goes PoS, a bunch of GPUs will get switched to other GPU coins that will still get traded in for BTC and ETC, which means they will all continue tracking each other almost directly. How much of an impact this will have on GPU prices depends on what scale ETC miners will move to other coins. Worst case, we could see little to no net change to the current situation.