Crypto Mining Cycles are Like Hardrock Mining Cycles only Sped Up

This article (link below) on the impact of crypto mining on GPU makers brings to light similarities of crypto mining to physical hardrock mining. It also tells us that crypto has a real impact on the overall economy and so far I haven’t seen an attempt to calculate this impact which is leveraged to the market cap of the coins themselves. Hardrock mining supports a tremendous amount of global economic activity. Crypto is starting to do the same only the cycle times are far more compressed probably by an order of magnitude. Hardrock mining supports a pick and shovel industry that develops new technology that then advances not only mining but many other industries as does crypto. It also consumes energy as does crypto and ultimately the mining products are used to make things. Crypto isn’t used to make physical things but is the new platform for liquidy of both physical and virtual things which also adds huge economic value. Bottom line is crypto is a real part of the economy and it’s just getting started.

Crypto Mining Decline Expected to Slash GPU Prices - CCN via BTCnews on iOS
https://www.ccn.com/crypto-mining-decline-expected-to-slash-gpu-prices