Proof of Shortage
As we have noted, the rise in bitcoin prices and China’s tacit acceptance of bitcoin as a legitimate payment method has caused demand for any device with a high core count and large cache to skyrocket. Graphics processing cards are based on just such processors, with the AMD (AMD) Ryzen 3970X the cream of the crop. That said, such processors and the graphics cards that they power are in short supply, so much so that prices have doubled over the last few months and have become so hard to find that some have taken to more desperate measures to get them.
A few days ago, a number of merchants in China sent recall notices to customers using AMD’s name and logo, stating that there was a recall for Radeon RX580 graphics cards, that were said to have ‘safety hazards in circuit design’ and should be immediately returned to said dealers for replacement. AMD got wind of the scam and issued a statement saying that such recall statements were fictitious and false, with the company reserving the right to pursue legal responsibilities for individuals or merchants who misappropriate the company’s name. At between $500 and $1,000 per card, if you could find one, somebody was looking to build out a few more bitcoin miners for a bit less than others might be paying. When someone goes that far to scoop up a few graphics cards, you know you have a shortage.
A few days ago, a number of merchants in China sent recall notices to customers using AMD’s name and logo, stating that there was a recall for Radeon RX580 graphics cards, that were said to have ‘safety hazards in circuit design’ and should be immediately returned to said dealers for replacement. AMD got wind of the scam and issued a statement saying that such recall statements were fictitious and false, with the company reserving the right to pursue legal responsibilities for individuals or merchants who misappropriate the company’s name. At between $500 and $1,000 per card, if you could find one, somebody was looking to build out a few more bitcoin miners for a bit less than others might be paying. When someone goes that far to scoop up a few graphics cards, you know you have a shortage.
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