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[TechSpot] Analyst says Nvidia lied about its cryptocurrency earnings to avoid stock crash

 
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Old 02-03-2019, 03:02 AM
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Quote: Originally Posted by Kpjoslee View Post
From the article



Apparently, that Analyst completely forgot the existence of dedicated ASICs for mining, and came up with the amazing analysis that total sales estimated from hash rate - AMD sales = Nvidia's sales.
If he is adjusting based on AMD's data, then it is still suspect. It stands to reason that ASICs hurt both manufacturers evenly, so if AMD reports a hit and Nvidia doesn't, that raises some red flags.
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Old 02-03-2019, 11:33 AM - Thread Starter
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Quote: Originally Posted by Apotropaic View Post
If he is adjusting based on AMD's data, then it is still suspect. It stands to reason that ASICs hurt both manufacturers evenly, so if AMD reports a hit and Nvidia doesn't, that raises some red flags.
Exactly
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Old 02-03-2019, 11:50 AM
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Quote: Originally Posted by EastCoast View Post
Exactly
ah, not really.

well unless both amd and nvidia, and ASICs are three mining the same cryptocurrency(ies) and that doesn't happen.

ie. iirc nvidia mined ethereum better than monero; which amd excelled at. ASIC couldn't mine ethereum for long awhile but could monero. lumping them all together will skew the data.

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Old 02-03-2019, 12:52 PM
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Quote: Originally Posted by Defoler View Post
I don't understand the wording of this article.
They claim that nvidia said they earned 600M$ instead of actually earning 1.95B$? So they hide 1.3B$
Why would nvidia hide 1.3B$ from their shareholders? To hide a bigger drop later?
Because having too much "income" from unstable source is undesirable, meaning that if high earnings of a company are dependent on feeble crypto and manipulating people into mining it... oh well, investors don't like risky stuff so they sell their stock. That in general lowers stock price and this price is used by others to evaluate "health" of a company/corporation as useless as that may be.

Or they just wanna keep a "little" off the books hidden in China or who knows.
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Old 02-03-2019, 02:23 PM
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Toxic swamp industry, no argument.

Arguing against that = ignorance.

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Old 02-03-2019, 05:27 PM - Thread Starter
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Quote: Originally Posted by looniam View Post
ah, not really.

well unless both amd and nvidia, and ASICs are three mining the same cryptocurrency(ies) and that doesn't happen.

ie. iirc nvidia mined ethereum better than monero; which amd excelled at. ASIC couldn't mine ethereum for long awhile but could monero. lumping them all together will skew the data.
Well then, lets look at the summary of this shall we...

Quote:
Nvidia put out a statement saying that they were "masters at managing" the market and that any drop in demand from crypto would not negatively impact their business.

The Schall Law Firm is representing numerous investors in a class action suit. It alleges that Nvidia made false claims to investors about their ability to maintain demand and withstand any drops in the crypto market.
https://www.techspot.com/news/78060-...cy-crash.html+

Quote:
[CEO Jensen Huang] said 'we are masters at managing our channel', which turned out not be the case," Bernstein analyst Stacy Rasgon told Real Money. "Management credibility definitely took a hit after this quarter."
https://www.businesswire.com/news/ho...nounces-Filing

This is not about how the market responded to the crypto crash it's about what nvidia said and did as a result of it.

Therefore,
Quote: Originally Posted by Apotropaic View Post
If he is adjusting based on AMD's data, then it is still suspect. It stands to reason that ASICs hurt both manufacturers evenly, so if AMD reports a hit and Nvidia doesn't, that raises some red flags.
In part and hindsight... Exactly
lol


What's peculiar about this is that Nvidia was called out about this long ago yet it took the media this long to actually follow up about it.

Last edited by EastCoast; 02-03-2019 at 05:30 PM.
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Old 02-03-2019, 05:43 PM
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But didn't nvidia also claim that because AMD also had the same crash in cryptocurrency sales, and just dumped all their stocks at lower price to the market, that was what caused nvidia to be stuck with their stocks and not sell?

They claimed that they were already planning for the crypto demise, but were ready to just sell the leftover stocks over time with just minor price changes, but AMD interfered with their plan by just dumping it all in a sudden to make quick cash.

So it still doesn't make that much sense.
Unless nvidia either knew what AMD are planing to do, or they coordinated it, it could be that they had a solid plan gone wrong. So it still doesn't explain the difference in income. Also nvidia financial numbers claimed to increase revenue by 3B$ in the first 9 months of 2018. That doesn't come from nothing. Even datacenter sales do not reach those numbers.
They also released that they gained 2.2B$ in the first half of 2017 mainly from cryptocurrency sales. So I'm not sure sure the claim of them saying they gained a lot less makes sense.


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Old 02-03-2019, 05:45 PM
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Quote: Originally Posted by EastCoast View Post
Well then, lets look at the summary of this shall we...


https://www.techspot.com/news/78060-...cy-crash.html+


https://www.businesswire.com/news/ho...nounces-Filing

This is not about how the market responded to the crypto crash it's about what nvidia said and did as a result of it.

Therefore,

In part and hindsight... Exactly
lol


What's peculiar about this is that Nvidia was called out about this long ago yet it took the media this long to actually follow up about it.
looks like you're just throwing stuff about inventory at the wall hoping something sticks. sure i can cherry pick snippets of several articles to say . . . anything.

none of that has to do with proper data collection and organization; i showed how ASICs would affect the hash rate for AMD cards but not Nvidia as there are different coins to mine and each manufacture mines/hash the other better.

so yeah, nothing for the discussion.

"Name as many uses for a brick as you can in one minute." - interview at graphics-chip maker Nvidia for a campaign-manager job
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Old 02-03-2019, 06:09 PM - Thread Starter
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Quote: Originally Posted by looniam View Post
looks like you're just throwing stuff about inventory at the wall hoping something sticks. sure i can cherry pick snippets of several articles to say . . . anything.

none of that has to do with proper data collection and organization; i showed how ASICs would affect the hash rate for AMD cards but not Nvidia as there are different coins to mine and each manufacture mines/hash the other better.

so yeah, nothing for the discussion.
That's a delusional response. You could also say that because a full moon created FUD on the night prior to the crash therefore, reasons!
We all know Nvidia lied, the media knew they lied, shareholders who are suing Nvidia knew they lied. Nvidia lied about all of it. And no amount of excuses of 'who's on first' will cover that up.

Last edited by EastCoast; 02-03-2019 at 06:13 PM.
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Old 02-03-2019, 06:55 PM
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Quote: Originally Posted by EastCoast View Post
That's a delusional response. You could also say that because a full moon created FUD on the night prior to the crash therefore, reasons!
We all know Nvidia lied, the media knew they lied, shareholders who are suing Nvidia knew they lied. Nvidia lied about all of it. And no amount of excuses of 'who's on first' will cover that up.
totally non-responsive.
https://cryptomenow.com/1-98-billion...itcoin-mining/
Quote:
These are estimates based on his analysis of the company’s earnings reports according the Business Insider which says:

“AMD’s guidance implied it had crypto exposure of $234 million in the first quarter of 2018, which roughly matches the 25% of the total crypto revenue” Steves added.

It is not known what proportion of ethereum’s hashrate is asics, with some suggesting it is as low as 10% while some say it is as high as 60%.
i guess the press is also delusional.

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