DigiTimes is reporting that sources in the PC industry believe that worldwide graphics card shipments will decline between 30-40% this quarter due to the cryptocurrency craze finally cooling down. ASICs have come out to mine Litecoin and Bitcoin, so the ASIC miners are taking over and lowering the demand for graphics cards. That means that there are likely excessive inventories of video cards building up. This could lead to a 30 – 40 per cent drop in shipments in the current quarter. That means that Cryptocoin Mining is no longer causing a shortage of AMD Radeon graphics cards.
The other bad news for those into Bitcoin is that mining pool GHash.io, operated by anonymous entity CEX.io, has recently had 51 percent control of Bitcoin’s mining power. That is bad as when a single entity takes control of 51 percent of Bitcoin’s mining power, it could result in the single entity controlling all Bitcoin transactions. Transactions may be delayed or halted and the mining pool could favor certain transactions beneficial for them, while preventing other miners from minting coins or finding blockchains, and Bitcoins could be double spent. The hashing power of GHash.IO consists of: ~45% BitFury ASIC based miners and ~55% independent miners.