Coque iphone 4s got Will Bitcoin and cryptocurrency mining increase the price of phones coque huawei-coque iphone 5c sherlock-bkpwav

Will Bitcoin and cryptocurrency mining increase the price of phones

PC part prices are insane because of coin mining, and our phones use those same kinds of parts. And nobody wants to spend $2,000 on the next Galaxy Note.

You coque iphone 5 ahs probably heard of Bitcoin, but did you know it has caused the prices of consumer PC components to skyrocket, coque naruto huawei p9 lite and in some cases more than double in the past 12 months

As crazy as that sounds, it true. And not because everyone with a Bitcoin is building a bunch of high end PC top play video games or read Facebook. If it all sounds complicated and coque huawei p9 or rose sort of like a conspiracy theory to you, you partially right, but don worry, we got you. We going to break it down and ask the most important question: Could this make the coque iphone 5 fantaisie silicone prices of smartphones get any higher

What is cryptocurrency

It an incredibly convoluted system of money. In 2009 Bitcoin was invented and became an alternative and virtual form of currency. Alternative as in not related to the dollar, British Pounds Sterling, Won, Yuan, Pfennigs, farthings or any other world currency, and virtual as in not backed by any real goods and just created as needed by the people who would benefit the most from its creation. Dollar since 1968.

There are some “official” rules about what a valid cryptocurrency is defined as, even though there really isn any person or body designated to make any rules.

The system keeps track of every unit and who owns it.

The system decides if new units coque iphone 4s renard can be created, how they are to be created, and who owns any louis vuitton coque iphone 7 plus new creations.

Ownership of a unit(s) is proven by cryptography only.

A cryptographic record of ownership follows each unit and is changed when the unit changes hands.

If the system gets more than one command to change ownership of any unit at the exact same time, only one transaction can be performed.

Yes, this involves a lot of computational power and cryptography is what drives and sort of defines the “system” itself. There are a lot of different systems, ranging coque iphone 6s magnétique from the original Bitcoin to the hilarious Dogecoin, which was named in honor of that incredibly cute Shiba Inu dog from huawei p9 lite coque cat the Doge internet meme. Each and every one is valid in its own right, because anyone can create coque iphone 5s honda a cryptocurrency. I could decide to make Jerrycoin a thing, and all I need to make it marketable is enough people and companies that sell goods and services to accept it as a valid form of payment. The price of a “coin” ranges from a coque iphone glow in the dark few dollars to hundreds of dollars, which means trading fractions of coins is necessary. Fractions of a coin are treated the same way a whole coin is in coque iphone 6 s plus ysl regard to the above rules, and these coque rigide p9 lite huawei are the units these rules are talking about.

Confused yet Well, hold on because it gets better.

Because cryptography takes up so much computing power, helping to validate any transactions using coque iphone 8 bts your own computer is rewarded with a unit of the currency. All the data about a unit is kept throughout its life and stored in what are known as blocks. As the unit is exchanged from owner to owner, more blocks are created and they comprise a chain. That what a blockchain is in its simplest terms. This means that if you use your own computing power to help validate transactions, when you successfully compute a cryptographic hash that can be used in a block you get paid by the organization that manages the transactions.

Cryptocurrency is a big business even of the concept doesn make sense in a lot of coque licorne huawei p9 lite 3d ways.

Did I mention that this is incredibly complex If you want to understand all the nuances of cryptocurrency, I suggest starting at Reddit and keeping an open mind. For the basics, you can think of it like so:

I, and a small group of my friends create a virtual currency system that adheres to a few basic rules so people will trust it. I talk to other people and vendors of goods and services and convince them to participate and accept this new currency as a valid form of payment. To secure my virtual currency, cryptography is used to validate every transaction no matter how big or how coque iphone 5 spigen tough armor small and the record of it all is attached to every unit. Because generating crypto hashes takes an immense amount of computing power, I create software that allows a pool of computers to work at it and let you help find the hashes. When you find one, you are paid with a unit of my new currency that can be spent anywhere that will accept it and administered through its own market.

Some people think this is the best way to keep track of your wealth. Others like it because it virtually anonymous (which is why others, including some governments, dislike it). And of course, some think it all crazy and makes no sense when someone like me can just invent my own system of currency. The truth is probably a mix of all the above somehow, but you need to understand that it a real thing and can be quite valuable.

Crypto mining has killed the DIY PC industry

That was then. Now that card at the time of this writing.

I like to play video games, and I like to do it at my computer desk instead of an Xbox or PlayStation. Lightning struck my house recently and a surge protector didn do its job so my gaming PC got fried. After haggling with the insurance company I got some money to build a new one and quickly found out I was about $1,000 short of what I needed to coque iphone 50 nuances de grey build one as good as the one that fried not because the insurance company ripped me off, but because the demand for components is so high, retailers can charge anything they want and still sell every piece they can get hold of. And they do, naturally.

Welcome to the world of supply and demand. I hate this world.

The blame for this price boom Crypto mining. It just so happens that the coque iphone 6s rolex processing power and memory to mine crypto hashes for virtual currency needs two important parts: a GPU to do the calculations and some RAM to run the program. It can be lucrative to mine these hashes if you ebay coque iphone apple build enough machines to mine them quickly, so people are buying video cards and sticks of RAM by the hundreds whenever Newegg or any other retailer can get them.

Newegg has a hard time getting them because companies like Samsung that coque iphone 6 imprimé oriental make “good” RAM modules (with the right type of error correction and rendundancy) can supply them to companies like Crucial that assemble them onto a PC board and sell them to Newegg. The coque iphone porte carte cuir same goes for GPUs from AMD or NVIDIA, which are put on PC boards to make graphic cards. It the law of supply and demand at work, and the pair of video cards I groupon coque iphone 5c paid about $950 for a few years ago now each cost $700, and newer models sell at double the manufacturer retail price. Prepare to see the same thing happening to hard drives as newer currencies can use free storage space to help calculate hashes.

It was totally worth the extra $1,000 to play coque iphone 5 quiksilver Far Cry 5 in 4K, though.

Miners take these parts and put them in a PC backplane in large groups to crunch numbers 24 hours a day, seven days a week. And they make a lot of money so they keep buying more and more of them to build more mining rigs and the cycle repeats itself until I have to put an extra $1,000 over my initial budget into a PC that can play Far Cry 5 at 4K instead of buying it for coque iphone 5s maserati the PlayStation 4. I lucky that I had room on my credit card and permission from my wife to do it because a lot of people can afford the extra costs and just coque huawei p9 lite fee clochette aren building computers.

This will sort itself out eventually. Companies like AMD and Samsung have developed dedicated mining boards that use ASICs (Application Specific Integrated Circuit) to run advances hashing algorithms, but right now it cheaper to buy video cards from Newegg. Mining ASICs will get better and the costs will come down until that changes and it becomes more profitable to buy them instead of a big box of NVIDIA graphics cards. Hopefully, that happens soon and we don become adjusted to inflated prices that might not come back down to reality if that happens…