The Crux Of The Cryptocurrency Economy is the process of Mining / Crypto-Mining
Since the Mining process involves the creation and exchange of currencies, Mining is an integral part of the crypto economy . Without a central authority like a bank, miners help to verify which transactions are valid and can be added to the blockchain. Mining computers collect pending transactions and turn them into cryptographic puzzles. The first miner to find the solution announces it to others in the network, who then double-check the solution.
Graphics Cards: The Holy Grail
This is where graphics cards come into play. Cryptocurrency miners have found the holy grail of computational power in none other than the high-end graphics cards usually reserved for PC gaming. The rise in cryptocurrency has created a global shortage of graphics cards, leaving PC gamers understandably frustrated. Prices have skyrocketed, and a black market has emerged due to people buying graphics cards in bulk and then reselling them for exorbitant profits. The same goes for AMD Radeon RX 580 cards, which cost $230 last spring but shot up to $600 on Amazon in the summer. As cryptocurrencies grow in circulation and more miners enter the marketplace, cryptographic problems will become increasingly difficult to solve, requiring even greater computational power.
The Direct Impact On Gamers
For running basic programs like word processors, internet browsers and streaming services, a standard laptop or desktop computer works great. When it comes to gaming, however, most standard computers are not equipped to optimize the gaming experience. While there are gaming-specific, brand-name computers on the market, many gamers opt to build their own PC’s for two main reasons: customization and cost. Building a PC is much easier than most people believe, and the process provides users the opportunity to customize based on storage needs, visual preferences and other functional requirements. For many, it is also a cost-effective alternative to buying a high-end, gaming-specific computer, which can cost thousands.
Naturally, if a computer’s primary function is gaming, a high-end graphics card is essential to provide the best visual experience. With graphics cards becoming nearly impossible to find through typical retail channels, and the same cards being resold with significant markups in secondary markets, many enthusiasts who would otherwise build their gaming rigs are in fact finding it cheaper to purchase PCs from major manufacturers who do not rely on typical retail channels for their graphics cards.