Thursday, September 29

Tag: cryptocurrency

Gaming

Cryptocurrency Miners Are Selling Off GPUs For Cheaper

Photo: Joby Sessions / PC Gamer Magazine/ Future (Getty Images)The crypto market is continuing to fall, which has led a ton of miners to exit the market or to downscale their operations, thus finding themselves in possession of valuable computer components that they now no longer need. Some such miners, many from China and South Asia (where electricity is cheaper), are now taking that hardware and dumping it on e-commerce websites. As a result, GPUs that usually go for $500 to $600 are selling for around half that price on the secondhand market. As noted by PC Gamer, GPUs are suddenly flooding the market, a trend likely driven by several factors. The major one is how cryptocurrency prices have been plummeting since this winter. Now that it seems like the market won’t make a turnaround anyt...
What Is Blockchain Technology That Powers The Cryptocurrencies
Science

What Is Blockchain Technology That Powers The Cryptocurrencies

Your Guide To Blockchain TechnologyBlockchain has become a buzzword these days with the rising popularity of cryptocurrencies. So how does blockchain work?The cryptocurrencies run on blockchain technology, a type of database or a digital ledger that records all transactions related to the crypto coins. The technology derives its name from the fact that the information is stored in a chain of blocks.Blockchain technology records information so that it becomes difficult or impossible to hack, alter or cheat the data stored in the systems connected to the network.The digital records of all the transactions are distributed across the entire network of computers on the same blockchain.How Does It Work?The record of all the digital transactions carried out on the system is duplicated and shared ...
Coinbase Loses Half Its Value in a Week as Crypto Slumps | Business News
Business

Coinbase Loses Half Its Value in a Week as Crypto Slumps | Business News

By MATT OTT, AP Business WriterSILVER SPRING, Md. (AP) — Cryptocurrency trading platform Coinbase has lost half its value in the past week, including its biggest one-day drop 5o date on Wednesday as the famously volatile crypto market weathers yet another slump.Coinbase reported a $430 million net loss in the first quarter, or $1.98 per share, on declining sales and active users. Analysts were expecting profit of 8 cents per share. Revenue was down as trading volumes fell, and active monthly users declined 19% from the fourth quarter.It’s unlikely those results surprised investors — shares Coinbase Global Inc. declined 43% in the four days leading up to their earnings release Tuesday. On Wednesday, shares fell 26%, to $53.72 per share. On the day of its initial public offering just 13 mont...