The price inflation of video cards is scary to me. Not because video cards got expensive, but because if it can happen to video cards, it can happen to anything. Any resource could be turned into something that’s worth more as some weird financialized store of value than as a usable thing, and then libertarian nut jobs will drive up the price.
Similar things have happened, but crypto is different. Biofuel turns perfectly good plant material into ethanol in an extremely wasteful fashion, but at least the end result is still somewhat useful. Crypto is like if sacrificing animals to appease the gods came back into fashion, so huge parts of the food supply chain pivoted towards throwing livestock into volcanos.
And nothing drives up price faster than scarcity. Can't wait to hear about Nestle poisoning half their water supplies to justify tripling the price on the other half.
The price inflation of video cards is scary to me. Not because video cards got expensive, but because if it can happen to video cards, it can happen to anything. Any resource could be turned into something that’s worth more as some weird financialized store of value than as a usable thing, and then libertarian nut jobs will drive up the price.
Similar things have happened, but crypto is different. Biofuel turns perfectly good plant material into ethanol in an extremely wasteful fashion, but at least the end result is still somewhat useful. Crypto is like if sacrificing animals to appease the gods came back into fashion, so huge parts of the food supply chain pivoted towards throwing livestock into volcanos.
in related news, they started letting investors trade water futures back in december
:agony-consuming:
And nothing drives up price faster than scarcity. Can't wait to hear about Nestle poisoning half their water supplies to justify tripling the price on the other half.
Well, thank you for yet another terrifying potential future problem to think about friend
Video cards are particularly difficult to manufacture. One factory that produces semiconductors might cost 10B+