The figures for crypto mining out of Nvidia are quite astonishing.
In Q1, Nvidia had crypto mining chip revenues of $289 million.
The Q1 forecast for Q2 crypto revenue was $100 million.
Q2 Nvidia’s actual crypto chip revenues were $18 million.
Presumably, the Nvidia figures were caused by the collapse in crypto coin prices as shown:
So why should one be pleased to see the craze apparently scuppered?
Maybe it’s because I never could understand why crypto had value, maybe it’s because so many clever clogs said they understood why it had value and tried, and failed, to make me understand why it had value, maybe it’s because some people claimed to have made money from it (though I never met anyone who, having done do, still held it), and maybe it’s because lately I’ve had a lot of bolloxy press releases promoting it.
I would feel guilty if my pleasure in crypto’s collapse was because it meant a lot of people lost their ill-earned gains.
But I feel it’s OK if the pleasure comes from the reinforcement it gives to the time-honoured view that there’s one born every minute.