> Because smart money was on the GPU market eventually coming back down to Earth... | Hacker News

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drexlspivey on Dec 2, 2022 | parent | context | favorite | on: Trying to get a bunch of GPUs on Google Cloud

> Because smart money was on the GPU market eventually coming back down to Earth due to a crash in the crypto market. Which it mostly has. What no one could reasonably predict is when (market can stay irrational and all that)

GPU prices didn't come down because crypto crashed, they came down because ETH switched to proof of stake making mining on GPUs obsolete. Anyone could predict when this would happen because it was pre announced.

telotortium on Dec 2, 2022 | [–]

Except for when Ethereum kept on delaying the merge (it was initially supposed to happen sometime around 2018)...

impulser_ on Dec 2, 2022 | [–]

Yeah, because they definitely didn't delay it multiple times.

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