The prices for them processors graphics (GPU) in China plummeted after the country's ban on cryptocurrency mining, ownership and trading.
The decrease in demand for graphics cards means a decrease in price, and is a direct result of his decision Beijingy, according to the South China Morning Post.
China's leaders don't seem interested in Bitcoin and Ethereum, citing that the currencies have no intrinsic value and can be manipulated, making them a bad investment. So now that the cryptocurrency mining has been completely banned in Sichuan, Inner Mongolia and Xinjiang, there is less demand for hardware and thus prices are falling.
Both old and new GPU models have reduced prices. The 1000nm Nvidia Quadro P14, released in 2017, costs 2.429 yuan ($ 376) at JD.com, a popular Chinese store, up from 3.000 yuan ($ 464) before. The Asus GeForce RTX3060, announced earlier this year, costs from 13.499 yuan ($ 2087) to 4.699 yuan ($ 763), at Tmall, another Chinese online store.
The trend seems to be passing in America, as some Reddit users have noticed.
This of course is very good news for them Gamers and computer manufacturers looking for hardware. Nvidia has announced recently that it had rolled back the mining capability on the latest GeForce RTX GPUs in an attempt to drive away miners, after gamers complained they were paying more because of miners.
The Chinese ban, meanwhile, has pushed down the price of Bitcoin. In a statement issued Monday, the People's Bank of China said it had spoken with representatives of the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Construction Bank, the Postal Savings Bank, the Industrial Bank and Alipayay Technology (China), reminding them not to promote such currencies and not to provide account services.
