Morgan Stanley: GPU mining sales will fall in 2018

Joseph Moore, analyst at Morgan Stanley published a report with a forecast for 2018: GPU manufacturers can lose up to 50% of sales revenue
15 November 2017   1990

Analyst of American banking holding Morgan Stanley Joseph Moore published a report with a forecast for 2018 on the decline in sales of video cards, which could adversely affect the financial performance of AMD and Nvidia. This is reported by CoinDesk.

Among the factors contributing to the drop in revenue from the sale of powerful videocards, the analyst pays attention to a decline in the overall block reward on the ethereum network, from 5 to 3 ETH. In general, Moore is confident that in the corresponding segment the largest manufacturers of videocards can lose up to 50% of sales revenue.

We believe that total graphics sales for ethereum mining in 2017 will be $800 [million] or so, and will decline by 50% in 2018; we can validate the 2017 number by looking at the increased complexity of the algorithm. Unless ethereum prices rally, downside variance to our 2018 forecast is more likely than upside.

Joseph Moore

Analyst, Morgan Stanley

Two weeks ago, Joseph Moore published a AMD video cards sales forecast, reducing his value from "neutral" to "negative". According to the analyst, despite the fact that the company managed to get super profit for some time due to the avalanche demand for video cards for mining, this trend is unlikely to continue in the future.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   72

Users of HashFlare mining pool can't withdraw their funds, while their contracts are threatened with a temporary ban. Even lower restrictions on withdrawal of funds in the amount of 0.03 BTC caused problems for users, but the service raised the threshold to 0.05 BTC and 0.1 ETH . This is reported by Cryptovest.

In addition, financial pyramids are often promoted under the guise of mining contracts for cloud mining. For last few months, there was a big jump in mining difficulty of many cryptocurrencies, so, old contacts had become unprofitable.

As reported, the reason for the locked funds dates back further - at the beginning of June, so much hashing power was flowing into the Bitcoin network that contracts saw all the mined coins go toward their maintenance fee.

Currently, more and more users who have purchased contracts at earlier stages are facing the fact that they can not withdraw their funds. One of them managed to return the money spent through the bank card operator after filing a corresponding complaint.

To anybody that purchased a Hashflare cloud mining contract with a credit card, it might be possible to get a refund with that credit card as one of my followers tipped me. He bought his contracts at the end of 2017.

bccponzi at Twitter

The hash rate of bitcoin increased from 13 EHash / s at the beginning of the year to more than 40 EHash / s in recent months. The difficulty of mining in the present conditions depends on the circumstances of the specific miner. The cost of bitcoin mining for some of them is $ 4,400, while others spend about $ 5,800. However, in 2018, cloudy mining is called an even more dubious occupation than before, especially when it comes to mining bitcoin.