Lately I’m paying more attention to the crypto currency and “DeFi” spaces, again. One discussion that comes up regularly: are miners to blame for the high GPU prices? To add some facts to this discussion, I’ve done a small analysis of GPU and crypto currency prices to determine if they are related. Data Sources GPU Prices For GPU prices I used the german website https://geizhals.de. The website shows the prices of items over a time frame of six months.
Introduction In the last months I’ve spent a lot of my time researching and thinking about the ecological impact of blockchain. Bitcoin and Ethereum, the two most popular blockchain technologies, have a vast power consumption. The power consumption is not inherent to blockchain technologies, but a result of the way these blockchains are secured. The network of computers running Bitcoin and Ethereum establish trust by making changes to the blockchain expensive.