Topic: WSJ Avalon article and the future of bitcoin (Read 554 times)

Hello

A few comments about the recent developements regarding ASIC mining..

It's pretty amazing that the WSJ goes ahead and publishes an article on sunday night without any fact-checking whatsoever

[Suspicious link removed]j.com/article/SB10001424127887323997004578644491403250124.html

It gets hilarious when the 'billionaire investor' mentioned in the article has to go on cnbc monday morning to refute the whole deal:

https://twitter.com/ScottWapnerCNBC/statuses/364370798892421120

Be as it may, to me this indicates that something is really brewing under the surface.
I get the feeling that the current valuation of ~100 USD/BTC is just too small, I would not be surprised if the price of btc would jump 10-fold in a very short time at some point.

If this happens, the question for the LTC investors and miners becomes, will LTC follow?
LTC is a very important part of the cryptocoin ecosystem, it together with a few other coins, like Feathercoin, is currently the only way to profitably mine BTC for the normal hobbyist at home (by mining altcoins with GPU cards and exchanging them for btc).

One interesting point is that if, let's say just for argument, btc goes to $1000, and LTC follows with a 10-fold increase in value measured in USD, then keep in mind, that as long as there are no widely deployed, cost-effective scrypt-based ASIC mining hardware, the value of all those used Ati GPU cards, like the 6xxx series and 7950/7970, will also rise 10-fold.

so that used 7950 u can find for about $200 on ebay today would trade for $2000.. Not a bad investment in itself.

Even if scrypt-based ASIC miners will eventually appear, it will take a long time from now before they are widely available to the public. Just food for thought.

Cheers