Topic: Coming ASICs device will further increase the price of BTC. - page 2. (Read 2514 times)

Well someone called 'teek' is currently throwing 200GH/s at https://ppcoin.d7.lt/stats mining pool. That 200 isn't from a GPU farm.

Liquidity is the issue, may be they can mining ALTs by choose which is most profitable, the thing is how could they sold out ???price of alt coins often distorted, if they could not sell it or very difficult to sell ,despite might more profitable , I do not think they will mining to those coin.

There are many miners who blindly follow sites like http://www.coinchoose.com/ and http://www.coinwarz.com/cryptocurrency and mine the most profitable coin. They often switch what coin they are mining multiple times a day. There are some pools that do this easily for the miners.

So,my assumption isn't false language, the up coming ASIC will has postive effect on BTC price, since it set entry and exit barrier for the miner, and currently those other Coins are useless, provides with needless liquidity, no reason to use those expensive ASIC devices to mining them .

Most alts are Scrypt based derivatives of Litecoin, and at present can not be mined with ASICS. The few exceptions to this are: PPCoin (PPC), Namecoin (NMC), Terracoin (TRC), Devcoin (DVC), Freicoin (FRC), and IXCoin (IXC).

There are some people looking into getting ASICS to mine Litecoin and other scrypt based coins but it will  be away before that is posible. I also wonder if it will ever be a possibility or just a fantasy.

Yes , they can, but consider of the liquidity level provides by alt coins and bitcoin, mining most of alt coins by ASIC device is a hopeless action, it well very difficult for those miner to recovery initial capital by mining alts coin, you should understand that all ASIC device are extremely over priced, for those guys who buying those devices if they are rational they will never used it to mining other coins, due to liquidity issues. And as above I stated I personally do not believe alt coins are substitute to BITCOIN, the reason they are survive is because the succeed of bitcoin, if bitcoin went wrong is equally means the concept of encrypt currency is not longer appreciate by people, thus all alts coin will disappear either.

From my personal opinion, alt coins are not perfect substitute to bitcoin, if bitcoin totally crashed this equally means people loss faith on encrypt currency, there are no reason that other coins will be survive, may i ask you one question , if BTC totally crashed what will you do ? investing in other encrypt currency or go back to reality hold FUD, I think most people will choose to back to their own currency .

aren't alts practically pegged to bitcoin price?

Wrong. They are can, and currently are, mining alts, like ppcoin for example.

Yes, you are right , it also depend on how much of daily sell-side volume do miners contribute, the question is if price below their comfort zone, they will buying BTC instead of mining, thus I think this ask wall will be eat by the market very quickly . I think most people invested in BTC will not likely to see their money destroy by crash of BTC price .


I should change it , i means if not any government related bad news in the future , we should see a price increase because ASICs devices.

Sure, ASIC miners will have to maintain scarcity and keep that 3600/day faucet as blocked as possible in the event that price starts going below their comfort zone. The question is how much of daily sell-side volume do miners contribute?



I respectfully disagree that this depends on no government intervention. If killing bitcoin were as easy as hurling AML regs at legacy exchanges, FinCEN and other authorities would have done it a long time ago. As we see in countless cases, government regulation for a good/service that is in demand will actually increase prices. You can't fight economic laws. The oft-made argument that reduction in supply of bitcoins (achieved via regulation) would automatically reduce demand is a very weak one as similar situation has not materialized in the case of illegal drugs, alcohol during prohibition, BitTorrent filesharing, US Dollars in Argentina, etc. Think of your own examples. Bitcoin is an extremely useful technology and that will not change. So long as the protocol remains healthy, it will be a tool to fight the corrupt Banksters.

The reason is simple:
                ASIC devices are only use for BTC mining purpose , they will depreciate its value over the time and with no residual value, not like GPU miners they can sell its graphic card if mining is not attractive for them. this equal to set a exit barrier for those new ASIC miners. the only things for them to recovery their investment is to maintains BTC price at acceptable level by act rationally when BTC price is under their expect profit range ,( limiting their supply to the market), util the market adjust price level at what they expected.
                I think BTC price are determine by factors below:
                legal factors.
                mining investment.
                people's trust.
Since ,the development of ASIC we will see a more stabilize price ever.  People never stop investing in BTC, this is the truth so far, KNC pre-order sold 8562 units. no matter what the currency they used to pay, we should assume all those cost paid to KNC will as a indirect investment  into the BTC world, thus the ASIC mining will further increase the price of BTC. further more , not only KNC, there are BFL ,ASICMINER and so on. payments made to mining rigs manufactures are far more than what we thought , may be  more than the money paid to the online exchange.

               If no government intervention or other related bad news in the future, we should expecting another BTC price increase ,because of those ASIC devices are start mining . That increase is coping to the market trend and based on people's rationality , if anyone ask me , what the BTC price are backed ? I will say that BTC price is backed by every currency investing into mining and those payments made to its reflect cost.  

              PS: The rights to issue money should not below to government , it should below to its users which are people.  
 
 Welcome to debate with me , if you feel that assumptions above are not rational and are false.