> “All this crypto stuff, it needed parallel processing, and [Nvidia] is the best, so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does,” Kagan told the Guardian.
No, the crypto mining industry collapsed because the largest GPU-mined cryptocurrency (Ethereum) removed the ability for people to mine it with GPUs. Crypto obviously does not "need parallel processing" in the way that Nvidia GPUs provide it, because Ethereum removed that requirement entirely.
Nvidia's statement is like a shovel manufacturer declaring gold mining dead because people are no longer buying shovels (because they moved on to backhoes).
No, the crypto mining industry collapsed because the largest GPU-mined cryptocurrency (Ethereum) removed the ability for people to mine it with GPUs. Crypto obviously does not "need parallel processing" in the way that Nvidia GPUs provide it, because Ethereum removed that requirement entirely.
Nvidia's statement is like a shovel manufacturer declaring gold mining dead because people are no longer buying shovels (because they moved on to backhoes).