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On Thursday, an American technology company, Nvidia has announced its financial results which were remarkable. The company has revenues of $3.2 billion from January to April. But what’s the reason behind this profit?

gpu makers

Well, the value of ether and other cryptos recently soared up and created lots of demand for graphics cards – to mine them. Due to the upsurge in the demand, the price of few high-end graphics got doubled between the mid of 2017 to February 2018. It’s a matter of concern for the GPU makers of major graphics-card, as the most important market for them is eventually the gamers, not the miners.

The idea of graphics-card makers collecting hefty profits from the high prices, due to the mining demand doesn’t seem to be liked by the gamers. However, Nvidia accredited that cryptos have played an important role in boosting the financial outlook of the company.

What does Nvidia’s CFO have to say about it?

CFO of Nvidia, Colette Kress said:

Cryptocurrency demand was again stronger than expected, but we were able to fulfil most of it with crypto-specific GPUs, which are included in our OEM business at $289 million.”

The $298 million figure is around 10% of the revenue of Nvidia and it seems like it lessens the cryptocurrency influence on the bottom line of Nvidia. If a customer buys a graphics card at retail, Nvidia won’t be able to know if it’s being used for mining, gaming or something else. The same story goes for the main graphics-card of a rival, AMD, which released first-quarter results a few weeks ago. According to AMD, the sales related to cryptocurrency accounted for almost 10% of total revenue, which could be again understating its influence on the profits of AMD.

GPUs Value

It has been observed that the value of cryptocurrencies has been falling for the past few months. Also, the value of GPUs has also gotten a lot cheaper than it was before. AMD didn’t provide any specific projection for revenues related to blockchain in the second quarter, however, the spokesman of the company suggested that the rest of the year 2018, is going to be significantly below the first quarter sales.

If the price of cryptocurrencies still keeps dropping, it will end up in the form of awful results for the GPU makers. But if the price of cryptocurrencies falls really low, it’s clear that we won’t only see miners halting to buy new GPUs but, we would also see them selling the graphic-cards that they already had on the secondary market. The resulting graphics card surplus could exhort the value of graphics-card below MSRP — MSRP would be good news for gamers though it might be bad news for the companies that are trying to sell new GPUs.

The president of AMD, Lisa Su said that she wasn’t really anxious about the scenario.

“There are multiple currencies being used — People who are mining do go from one currency to another depending on what’s happening.”

She also added that customers can buy graphics-cards for both purposes; gaming and mining. They will be able to hold onto the graphics-card for the gaming purposes — in the case of mining becoming unprofitable. On the other hand, this analysis seems to be debatable. There’s no doubt that there are profusions of cryptos, but at the same time, there are some of them which are economically significant.

Ethereum’s ether is the most important and significant GPU-mineable so far, and the prices of cryptocurrency are strongly linked to it. So, if the value of ether drops, there’s a possibility that the value of other cryptocurrencies might also fall with it. There are many people who want to buy graphics-card for various applications, and there are a lot of those as well that have many of them (graphics-card). These individuals might hold onto one or two cards for the gaming purpose, however, if the price of cryptocurrencies falls quite low, lots of those cards will end up in the used GPU market. This will also make it hard for both AMD and Nvidia in selling their new cards.

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Bitcoin On The Verge Of Hitting $60,000 And Then A Huge Crash In 2018 – Predicts Saxo Bank

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Saxo Bank forecasts that the bitcoin cost will take off above $60,000 in 2018 before crashing more than 98 percent to its essential production cost’ of $1,000.”

 

The Danish investment bank issued this conjecture in its yearly “Over the top Predictions” publication that implies to recognize “highly unlikely events with overlooked potential.”

 

“The ascent of Bitcoin and different cryptocurrencies has been a standout amongst the most fabulous marvels of financial markets in recent years,” two Saxo experts wrote. “Bitcoin will keep on rising – and ascend high – during the most part of 2018 but Russia and China will together architect a crash.”

 

The bank predicts that fueled by delayed bullishness over the approach of Bitcoin derivatives, the bitcoin cost will rise around 400 percent from its present level to crest above $60,000 — bringing its market cap to $1 trillion.

 

However, Saxo cautions, bitcoin’s transient climb will be squared with by the rate of its downfall. Worried about capital flight, China and Russia will release a multi-pronged strike on the decentralized digital money ecosystem to “move the concentration away from Bitcoin”. In addition to creating their own, state-supported cryptographic forms of money, the two governments will boycott mining, referring to environmental concerns while in reality, their approach is keeping a check on domestic monetary policy.

 

Bitcoin fans won’t surrender without a battle, but the bank predicts that state-run digital forms of money will prove to work better as payment frameworks, putting a conclusion to the two-year crypto fever and causing the bitcoin cost to lurch down to $1,000.

 

“The smoother working of the state-run conventions for actual payments and value dependability, and additionally the substantial hand of state intervention, drives a diminishing interest for all digital forms of money and totally sidelines the Bitcoin and crypto phenomenon from a price speculation angle even as the innovative guarantee of the blockchain jogs on,” Saxo concludes. “After its peak in 2018, Bitcoin crashes and limps into 2019 at around $1,000.

 

Keep in mind, these expectations are fairly whimsical — the bank intentionally comes up with improbable situations. However, Saxo foretold “gigantic increases for bitcoin” in last year’s release, although the bank’s “ludicrous” forecast that bitcoin would ascend as high as $2,100 has ended up being shockingly conservative.

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Facts about Blockchain Funding by Chinese Investment Group

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News about generating blockchain funds by a Chinese company are in the news right now. But before discussing about that news, we must have a watch on the history and importance of blockchain. Designed in 2008, blockchain is the backbone of Bitcoin and all the other cryptocurrencies. Blockchain system works by taking in digital transactions and storing them in pieces of digital information called blocks. These blocks are in turn linked together to form ledgers. In case of blockchain, such ledger can be defined as a list of digital transactions. Each time you wish to change the data inside a blockchain database, the software adds a block to the chain containing all the information required to verify the changes. The block will have a unique identifier (a hash) and can be encrypted depending on the underlying software use-case for it.

blockchain funds

Importance of Blockchain Technology in other industries

Blockchain has also a serious impact on various other industries. Even IBM has started work on their own blockchain projects. The main reason for it is that blockchain has played an important role in maximizing the technology’s capabilities, such as autonomous records and easy to access contracts. Even the Pharmaceutical giants are planning to use blockchain to prevent frauds and secure their transaction records. Now let’s come to the point and elaborate why blockchain funds have become so important for China to show active participation in it.

Why China is interested in Blockchain Funding?

Due to such an important role of blockchain in digital transactions, especially cryptocurrency, it has been reported that a government-led investment firm known as Investment Association of China (IAC) is going to establish a funding center to strengthen the blockchain development in China.

This news leaked out when a document related to that entity was circulated by IAC on the internet. IAC reports directly to China’s National Development and Reform Commission.

Later, vice chairman of the IAC, Liu Ren confirmed the document’s authenticity. He further explained that IAC had to take an initiative in this regard due to the growing importance and popularity of blockchain in cryptomarket. That’s why their association decided to provide fundings and maintained standards for the good of cryptocurrency industry.

However, he did not disclose that whether the funding will be provided from the state or private sectors.

This new blockchain funding center will also seek further working with overseas blockchain projects to generate further investment options. It will also provide consultation services to those persons or firms that are interested in blockchain investment. In short, Chinese government is quite serious in its efforts to develop investment plans for the domestic as well as foreign blockchain industry. Chinese Ministry of Industry and Information Technology recently announced that it will soon launch a committee in order to set national standards for blockchain technology.

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US Congress Features Cryptocurrencies for The Very First Time in Its Joint Economic Report

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On 13th March, an annual Joint Economic Report was published by the US Congress in which the Congress dedicated a whole section to the Blockchain technology and cryptocurrencies, for the very first time.

Joint Economic Report

The Joint Economic Report (2018) contains a whole chapter that provides the insight of the effect of Blockchain and cryptocurrency on today’s US economy and includes scrutiny and recommendations for the rest of the year. According to the report, 2017 was the year of cryptocurrencies, and highlighted the extensive concern over Bitcoin.

joint economic report

The combined value of all Bitcoins in distribution equalled to approximately $15.5 billion, by the starting of 2017; however, it boosted almost 14-fold to over $216 billion by the end of the year. Cryptocurrency market cap was certainly influenced by high prices and such cryptocurrencies like Ripple, Ethereum, and Litecoin also experienced the same gains.

But at the same time, the report also stated that leading economists, like Chair Janet Yellen (former Federal Reserve), still don’t think that cryptocurrencies meet the standard definition of money, and for him, Bitcoin is a highly-speculative-asset.

A stirring surge has been shown in the price of crypto and Blockchain assets, which leaves few crucial economic indexes behind such as;

  • Dow Jones Industrial Average
  • S&P 500

The report says;

“…If digital currencies become less volatile in the future, valuing items in those denominations could become easier and individuals might begin using them more frequently as a medium of exchange”

Recommendations

There are few recommendations in the document, showing certain concern, as all of the authors advise government agencies are about to consider and analyze new customs for the technology. They specifically distinguish Blockchain’s potential to enhance agency competence and guarantee security against cyber-attacks.

The report also says;

“Policymakers, regulators, and entrepreneurs should continue to work together to ensure developers can deploy these new Blockchain technologies quickly and in a manner that protects Americans from fraud, theft, and abuse while ensuring compliance with relevant regulations”

The analysis also highlighted that Blockchain has demonstrated largely resistant to hacking and has a lot of potential applications. Even though Blockchain and cryptocurrencies still stir up clash, the analysis that was shown in the report proves that administrative associations cannot avoid the innovative technology of Blockchain.

The report also noted that the technology can be used in other fields like;

  • Healthcare
  • Securing critical financial
  • Energy infrastructure.

The Subcommittee on Securities, Investment and Capital Markets assembled for a hearing that was dedicated to ICO (Initial Coin Offerings), Blockchain development and cryptocurrencies in the US, making it quite simple understand that more regulatory clarification would be necessary from the US government.

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ICO Market is Skyrocketing! How Are Regulators Going to Handle It?

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Nowadays, ICOs (Initial Coin Offerings) are among the most contentious fundraising techniques. Though, based on market figures, it looks like there’s no halt in raising money with ICOs anytime soon.

ICO Market Analysis

The very first successful ICO event took place in 2014 by Ethereum. However, the year 2017 saw some of the biggest ICOs, such as Filecoin and Hdac, that raised more than $250 million only with their token sales. But the trend seemed to slow down by the end of the year, with a huge number of failed ICOs.

According to a report, out of 169 projects, only 69 managed to raise money through token sales, effectively. As the trend started to fade away, it grabbed the attention of protruding figures of the blockchain sector.

ICO market

Trends

By the end of 2017, the failure of ICO trends rebounded with force and achieved a whole new level in the starting of 2018. More than $1 billion worth token sales were registered back in December. However, in a mere three months of 2018, the blockchain firms raised more than $5 billion by selling tokens.

The number of ICOs are skyrocketing. Plus, 50 ICOs are now being registered every month, whereas in 2017, not a single month saw ICOs more than 26, except the month of December.

 

Scams

People with dubious business models saw a huge opportunity in the unregulated ICOs market. Major projects such as Bitconnect, was shut down after it reached a $2.5 billion market cap. Furthermore, the intense funds on digital platforms turn out to be an easy target for hackers and according to a report, 450 ICO projects were attacked in 2017.

Problems Faced by Regulators

ICOs are gaining huge popularity and have become a huge concern for regulatory authorities around the world for two main reasons:

  • The vulnerability of the investors.
  • The cash-flow to an unregulated sector.

Though, the complex decentralized architecture of the blockchain has made it quite hard to execute any regulations on the wild-market, the largest ICO market, US, has recently become the centre of the regulatory discussion on cryptocurrencies and ICOs. Deprived of any real plan, numerous US agencies, like SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) are trying their best to explain the rules according to their own partial understanding.

Is there any solution?

Well, it’s quite clear that the ICO market is far-off from coming to a “full-stop.” Though, on the other hand, this also means that more projects are going to target investors. However, in an attempt to regulate the market, the SEC keeps on banning legit ICOs.

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