[2017-10-10] Bitcoin Boom is Fueling Nvidia’s Stock Price to All-Time Highs

[tyz]

Bitcoin Boom is Fueling Nvidia’s Stock Price to All-Time Highs

On October 10, 2017, Nvidia’s stock value reached an all-time high: $192.92 USD per share. In parallel, Bitcoin’s value soared to $4,800 USD per coin. This bullish drive demonstrates that Nvidia continues to profit from producing devices used in cryptocurrency mining, artificial intelligence, driverless cars, IoT, robots, and other Fourth Industrial Revolution innovations.

http://bitcoinist.com/bitcoin-boom-is-fueling-nvidias-stock-price-to-all-time-highs/

[Iranus]

It's pretty pathetic that a news outlet called "Bitcoinist", which is obviously supposed to be focused on Bitcoin, would be pushing the misconception that Bitcoin has any relation to GPU mining.  The title is suggesting that Bitcoin is somehow involved in this, when in fact it's the altcoins with ASIC-resistant mining algorithms that are helping NVIDIA.

It's crazy that some groups have started lumping cryptocurrencies all together along with Bitcoin, rather than judging each individual crypto based on its actual merit and its relation to an event.

[AmXProX]

It's pretty pathetic that a news outlet called "Bitcoinist", which is obviously supposed to be focused on Bitcoin, would be pushing the misconception that Bitcoin has any relation to GPU mining.  The title is suggesting that Bitcoin is somehow involved in this, when in fact it's the altcoins with ASIC-resistant mining algorithms that are helping NVIDIA.

It's crazy that some groups have started lumping cryptocurrencies all together along with Bitcoin, rather than judging each individual crypto based on its actual merit and its relation to an event.

I don't see anything wrong with this.

Even if GPU's can't mine bitcoin still the existence of altcoins has  an effect on the increase on bitcoin's price. People are mining altcoins and will have it traded to bitcoin by doing this the demand for bitcoin is increasing and if not because of those GPU miners there will be not much of people trading bitcoin everyday.

So that is the reason why a website focused on bitcoin had this article. Every single altcoin has an effect on the price of bitcoin.

[eckmar]

It's pretty pathetic that a news outlet called "Bitcoinist", which is obviously supposed to be focused on Bitcoin, would be pushing the misconception that Bitcoin has any relation to GPU mining.  The title is suggesting that Bitcoin is somehow involved in this, when in fact it's the altcoins with ASIC-resistant mining algorithms that are helping NVIDIA.

It's crazy that some groups have started lumping cryptocurrencies all together along with Bitcoin, rather than judging each individual crypto based on its actual merit and its relation to an event.

I don't see anything wrong with this.

Even if GPU's can't mine bitcoin still the existence of altcoins has  an effect on the increase on bitcoin's price. People are mining altcoins and will have it traded to bitcoin by doing this the demand for bitcoin is increasing and if not because of those GPU miners there will be not much of people trading bitcoin everyday.

So that is the reason why a website focused on bitcoin had this article. Every single altcoin has an effect on the price of bitcoin.

Do you think that is enough to move stock prices of a huge company like Nvidia ? Still the majority of miners are using AMD cards. Article is total nonsense in my mind, they just took two separate events and somehow connected them.

[Halcyon Days]

Back in the days when GPU mining started, one could have anticipated that AMD and Nvidia will benefit from the altcoin boom.
Here is an article from the beginning of the month, which depict the relationship between crypto currencies and graphic cards:
https://www.cryptocoinsnews.com/barclays-analyst-sees-nvidia-amd-continue-to-ride-the-cryptocurrency-wave/

Interestingly, the last statement of the article is the following:

In 2017 so far, AMD is up by 17.37%, while Nvidia is up by 77.55%. The surge led CNBC’s Jim Cramer to state that investors shouldn’t buy Nvidia and AMD shares because of cryptocurrencies as, according to the commentator, the market’s growth isn’t currently sustainable.

[okae]

Well maybe all those rumors about his next graphic cards will push them into it, in this world everything could happen but seems like a poor reason for me, btw for the moment almost all alt miners are using AMD cards...

It's crazy that some groups have started lumping cryptocurrencies all together along with Bitcoin, rather than judging each individual crypto based on its actual merit and its relation to an event.

Welcome to the crypto-world the paradise of speculators where everything is allowed...

[HeRetiK]

To claim that Nvidia's stock market price is fueled by crypto-currencies is wild conjecture. They have been at the forefront of AI and autonomous cars for quite a while now, which is reflected in NVDA having taken off already long before the current BTC bullrun even started.

[Kprawn]

I think Nvidia’s stock price will go through the roof as ASIC resistant Alt coins becomes more popular. We already know that

Bitcoin Gold will also be ASIC resistant and this will drive GPU card demand up even further. Nvidia positioned themselves to

profit from Crypto currency mining with their new cards and I think it was a very good decision. Some gamers are already

complaining about the scarceness of GPU cards.