Cryptocurrency "mining" is destroying the real economy. The "miners" are buying up the electronics parts necessary in other industries, hence the "chip shortage". They have also caused progress in many technology areas to come to a grinding halt. It is tough to analyze modern data sets without modern computer hardware. Hell, it is becomes hard to do the raw data acquisition in the first place!
Interestingly, the chips and boards the crypto miners are using all contain gold (and some silver) as essential ingredients. Sooner or later, probably sooner, the industrial (e.g. electronics) demand for physical gold and silver is going to cause a short squeeze on precious metals futures markets. The results should be "entertaining"!
RRL Price at posting:
$1.93 Sentiment: Buy Disclosure: Held
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