Coinbase Redundancies as ‘Crypto Winter’ Predicted (Why This is Important!)
Mike Sanders / 1 year ago
The last major growth spike in the value of Bitcoin couldn’t have come at a worse time for gaming PC consumers. Beginning its near-vertical trend in March 2020, and coming just months after the launch of AMD and Nvidia’s latest graphics cards, while certainly not the only reason for the overall market shortage, it undoubtedly played a major role in why stock has been in such limited supply!
For similar reasons, therefore, it’s hardly surprising that as the value of Bitcoin has been on a huge downward spiral since March this year, overall GPU availability has, slowly but surely, been getting better!
So, with this in mind, therefore, following a report via CNBC, there is good and bad news (depending on which side of the fence you stand on). – The bad news comes for Cryptocurrency investors as the major exchange organisation ‘Coinbase’ has just confirmed that it is going to lay off 18% of its staff amid projections of another ‘crypto winter’.
And the good news? Well, if cryptocurrency prices are set to tank for the foreseeable future, it might mean that not only should GPU prices start to fall and availability get better, but more so, on the dawn of the Nvidia 4000 and AMD Radeon 7000 series, things might be almost get back to normal at the perfect time!
Coinbase Predicts Crypto-Slump – Excellent News for Graphics Cards?
Now, admittedly, with Coinbase confirming that the slump will result in them effectively making 18% of its workforce redundant, I don’t want to come across that I’m rejoicing in people losing their jobs. Getting sacked sucks! – At the same time though, Coinbase has admitted that it probably overhired when things were skyrocketing which, based on the recent downturn, has seen more than a few roles become a bit quiet. – In other words, my sympathy for the people is genuine, but my sympathy for the company is limited.
Based on the comments made by Coinbase, however, it does seem that this move has been made in preparation for a fresh slump in expected cryptocurrency values.
“We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last for an extended period. While it’s hard to predict the economy or the markets, we always plan for the worst so we can operate the business through any environment.” – Coinbase
If this predicted slump happens, they’ll be even less demand from industrial-scale organisations which, by proxy, should see a substantial drop in overall graphics card market demand. In other words, buying one of Nvidia or AMD’s GPU looks set to continue to get easier, and cheaper, throughout at least the rest of 2022.
And with the Radeon 7000 and Nvidia 4000 series set to debut around October, unlike last time, the timing might actually be perfect for gaming consumers here. – Yes, I’m saying it now, it’s possible, possible, that you might be able to get, and afford, a new graphics card in the very near future!
What do you think? – Let us know in the comments!