Updating market ru

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Steves, who has written numerous reports of late about Nvidia’s use in performing calculations for Ethereum, wrote on June 9th that the market for chips useful to Ethereum may be worth 5 million for Nvidia and Advanced Micro Devices (AMD) and others.

Net/net: while it is difficult to predict the future of cryptocurrency mining, we can calculate the historical impact and track the number of GPUs being used on the network (broadly).

Overall, we've seen ~$100M worth of GPUs added to the network.

Importantly, while the market will likely go away when the algorithm switches to Proof of Stake (CY17?

Casper, change in algorithm), a total of ~ $100M worth of GPUs have been added to the network.

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Regarding moving parts makes fixed blade knives entirely tougher.

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Steves arrives at that conclusion by looking at the number of “hashes” happening in Ethereum mining, and how much an individual GPU can do: The number of GPUs on each network can be roughly calculated by taking the network hash rate and dividing that by the average hash rate of a GPU (we will assume 30 MH/s).

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