[2017-06-25] CNBC’s Jim Cramer Loathes Bitcoin & Ethereum...

[nickbelski]

CNBC’s Jim Cramer Loathes Bitcoin & Ethereum for Boosting Nvidia, AMD Stock

CNBC’s U.S. investment commentator Jim Cramer, who in the past stated that bitcoin could hit $1 million thanks to companies stockpiling the cryptocurrency to pay off ransomware, recently stated that investors shouldn’t buy Nvidia and AMD shares becuase of the cryptocurrency mining trend. The TV commentator claimed cryptocurrency growth isn’t currently sustainable and loathed bitcoin and ethereum for boosting these companies’ stocks due to an increase in demand.

CNBC’s article cites the incredible growth both bitcoin and ethereum had in the last 12 months. According to data from CoinMarketCap, on June 24, 2016, one bitcoin was worth about $650, while now it’s at $2,682.65. Ethereum, on the other hand, went from about $14.1 to a whopping $334.79, at press time.

As reported by CryptoCoinsNews, these currencies’ price boom led to a shortage of AMD and Nvidia GPUs earlier this month, as new small-scale cryptocurrency mining operations have been surging, according to AMD.

The growing cryptocurrency mining market, according to a report from RBC Capital Markets, has contributed $100 million worth of GPU sales for Nvidia alone, in the past 11 days. The report added that AMD chips are the best for mining Ethereum, which hints that AMD’s sales numbers are probably more impressive.

These sales helped investors get in on the Nvidia / AMD craze, so much so that both companies recently saw their value surge. AMD, a manufacturer whose GPU chips are usually cheaper than those of Nvidia, saw its shares soar by 33 percent in the last 30 days.

Read more.
https://www.cryptocoinsnews.com/cnbcs-jim-cramer-loathes-bitcoin-for-boosting-nvidia-amd-stock/

[darkangel11]

ETH is just a way for people to make money off other investors and leave them holding a bag of nothing. Once ETH bubble pops they will move their money to some other more promising alts like LTC and of course to BTC.
I don't blame card manufacturers for anything, they're simply riding the train like everybody else. Somebody should tell that guy that if it goes to 1 million like he's predicted, those companies will make billions.

[joshy23]

ETH is just a way for people to make money off other investors and leave them holding a bag of nothing. Once ETH bubble pops they will move their money to some other more promising alts like LTC and of course to BTC.
I don't blame card manufacturers for anything, they're simply riding the train like everybody else. Somebody should tell that guy that if it goes to 1 million like he's predicted, those companies will make billions.

Yeah. totally agree. AMD and Nvidia will really make billions because of this mining (ETH and LTC). They already found a gold and I'm sure they are not going to customized boards and cards that will fit just for mining altcoins for more profit on their end. ETH is currently down, but with ICO's offering ETH then I speculate the bubble will not pop yet.

[sock_info.doNOT.send.$]

In the real world this "type of insanity" is/was the clear sign of a Bubble Top. ETH and even BTC are so new that it is really hard to tell if common standards apply.

Sounds like Web 1.0/.com bubble all over again.
...but this is Global and still growing so fast.
...Obvious Bubble people!!!
...but
...no

Is anyone else confused? 
Sponsored by Funnysocks.bubble

[Kakmakr]

ETH is just a way for people to make money off other investors and leave them holding a bag of nothing. Once ETH bubble pops they will move their money to some other more promising alts like LTC and of course to BTC.
I don't blame card manufacturers for anything, they're simply riding the train like everybody else. Somebody should tell that guy that if it goes to 1 million like he's predicted, those companies will make billions.

Yeah. totally agree. AMD and Nvidia will really make billions because of this mining (ETH and LTC). They already found a gold and I'm sure they are not going to customized boards and cards that will fit just for mining altcoins for more profit on their end. ETH is currently down, but with ICO's offering ETH then I speculate the bubble will not pop yet.

The Ethereum bubble is going to burst soon, there is no doubt about that. This does not mean that the mining of other legitimate Alt coins will fail with it. You can still use these CPU's and GPU's to mine other Alt coins. It will not even be strange if these card manufacturers will develop their own Alt coin to be mined with their cards. Will we see AMDcoin soon? Imagine that, you pay for the card and you mine their coin and get the reward to pay off your initial investment cost for the card.

I can already see the slogan, "Buy a AMD card that pay for it self"   ^smile^

[coolcoinz]

I can already see the slogan, "Buy a AMD card that pay for it self"   ^smile^

That's a good one, maybe you should send it to them and profit
I've seen customized boards fit for mining 2 years ago, but they weren't very popular because of high prices. They were too greedy and thought people will pay 25% premium for a mining mobo with more pci slots that are space out a bit better. Let's hope they learnt on their mistakes and will survey the market better before another release.

[Kakmakr]

I can already see the slogan, "Buy a AMD card that pay for it self"   ^smile^

That's a good one, maybe you should send it to them and profit
I've seen customized boards fit for mining 2 years ago, but they weren't very popular because of high prices. They were too greedy and thought people will pay 25% premium for a mining mobo with more pci slots that are space out a bit better. Let's hope they learnt on their mistakes and will survey the market better before another release.

Thanks, it would have been better if they just focused on a range of cards with custom built Asics for mining and not just boards with a single function. People can then use these boards for normal use {not intensive use} and the Asics on this board can then mine Alt coins in the background. It might not work for high end gaming cards, because it will generate too much heat, but for normal desktop use it might be fine. ^smile^