PC market: virtual currencies causing chaos in market

Like the world market, the Vietnamese computer component market has become chaotic since Bitcoin and Ethereum have been used in transactions on a large scale.



At An Phat Computer, the shelves are full of mainboards, but there are few graphics cards on display as people are scrambling for cards to make bitcoins.

The main unit that determines the ability to make bitcoins is a graphics card. A normal PC will need 0-4 graphics cards depending on users’ needs. In order to connect many graphics cards, one must use technologies such as Nvidia's SLI or AMD’s Crossfire.

Most normal computers need 0-1 graphic card, while virtual money making machines need six cards.

The graphics cards which can be used to make bitcoins, such as GTX 1050 of Nvidia or RX 460 of AMD, all have run out, say distributors.

The same situation can be seen at other shops in Hanoi, both small and big. Only  graphics cards which cannot be used to make bitcoins are still available.

Only the companies which produce mainboards to make bitcoins are happy.

Distributors cannot get new consignments of products immediately. In general, it takes a couple of weeks or months to get one consignment of graphics cards. Therefore, analysts believe that the short supply will still last several more months.

According to An Phat Computer, some distributors try to protect themselves by refusing to offer a warranty for cards if they discover that the cards are used to make bitcoins.

A representative of Vinh Xuan, the distributor of Asus products, said a six-month warranty mechanism is applied to those who use cards to make bitcoins instead of three to four years.

Meanwhile, the representative of Mai Hoang confirmed that the company refused to provide warranties to these users.

Those who want to have new PCs and plan to upgrade their computers cannot do anything now but wait until the ‘storm’ ends.

However, it is unclear when ‘bitcoin fever’ will pass, as bitcoin has become more widely used around the world.

Sources said computer component makers such as Nvidia are rushing to create dedicated cards for the purpose of making virtual currencies.

In Vietnam, the central bank has warned organisations and individuals not to invest in bitcoins, keep any bitcoins, use services connected to them and other cryptocurrencies. Bitcoin users have no legal protection and have to bear the losses arising from its volatility themselves.

Buu Dien / vietnamnet