Cryptocurrencies add nothing useful to society, says chip-maker Nvidia
&gt; “All this crypto stuff, it needed parallel processing, and [Nvidia] is the best, so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does,” Kagan told the Guardian.<p>No, the crypto mining industry collapsed because the largest GPU-mined cryptocurrency (Ethereum) removed the ability for people to mine it with GPUs. Crypto obviously does not &quot;need parallel processing&quot; in the way that Nvidia GPUs provide it, because Ethereum removed that requirement entirely.<p>Nvidia&#x27;s statement is like a shovel manufacturer declaring gold mining dead because people are no longer buying shovels (because they moved on to backhoes).