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The ones who made fortunes during the American gold rush were the people selling shovels, not the ones panning for gold.
by mr_gibbins 4y ago
The ones who made fortunes during the American gold rush were the people selling shovels, not the ones panning for gold.
- thematrixturtle 4y agoUnfortunately in the crypto winter, crypto shovel sellers like Coinbase are doing quite badly as well.
- bobnamob 4y agoI think you need to go a layer or two deeper to find the shovel vendors, maybe those selling compute?
- Someone 4y agoNvidia and AMD sold quite a few GPUs to crypto miners.
- Strom 4y agoIt seems that they also bet on the hypetrain lasting longer. They are now trying to cancel some of their TSMC orders. [1] They'll probably end up with a juicy profit overall anyway, but perhaps the more clear shovel sellers here are foundries like TSMC and Samsung. -- [1] https://videocardz.com/newz/nvidia-reportedly-wants-to-cut-tsmc-orders-for-next-gen-rtx-40-gpus-5nm-wafers-amid-lower-demand https://videocardz.com/newz/nvidia-reportedly-wants-to-cut-t...
- IgorPartola 4y agoClear winner is energy companies who sell electricity to miners :(
- xchaotic 4y agoInvesting into an illegally tapped coal power plant in Mongolia is about as safe an investment as investment in crypto itself.
- thematrixturtle 4y agoPeople using stolen credentials to mine crypto on cloud GPUs is a huge hassle/financial loss for cloud vendors.
- stonith 4y agoNVIDIA seem to have done pretty well out of it.
- SnowHill9902 4y agoCorrection: all of those selling shovels, a few of those who found gold. It’s different distributions.
- oblio 4y agoTrue, which is even more relevant for something like blockchain techs, which are basically bets.