What's the deal with cryptomining and GPU's right now?

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>>61868855
Chinks are buying out all my gpus reeee

Where have you been?
Were you off the grid past 5 or something years?

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>>61868855

>>61868887
Why have they been changing the value of GPU's just now?

Is there anything that gives bitcoin value other than scarcity (difficulty to mine)

Is it just digital gold

>>61868954
More miners? More coins to mine? The ones who started to mine long time ago now can invest into more gpus?

>>61869176
Is there anything that gives gold value other than agreed upon value?

No.

>>61868855
Ethereum's proof-of-work functions, Dagger-Hashimoto and Ethash, are currently best computed with GPUs as they require too much RAM for ASICs and FPGAs to address easily.

A bunch of cryptocurrency miners speculating in Ethereum around the proof-of-work difficulty spike bought up a ton of GPUs. They are now being sold again after the resulting price spike, I believe?

Ethereum is due to switch to proof-of-stake in a future version, removing most of this. Also, the contract language is an absolute tire-fire and I wouldn't be surprised if some very bad things don't keep happening to it.

>>61869176
Other than the recorded movements in the distributed transaction ledger, bitcoins don't really even exist.