Bitcoin Forum

When the first device will be received, the owner will mine like crazy, and the supply will increase.
The early one will know that soon, everyone will receive their own one, and want to sell it fast, in order to make some profit (because they invested a lot).
The investors that bet that the price of bitcoins was going to skyrocket to 1000 USD will see that a lot of new bitcoins are being sold, and the demand is the same (or even decreasing, because they will be afraid by those new btc that come way too fast).
Then, more people will have Avalon Asics and want to sell btc, and the investors who wanted to make some profits will probably sell aswell in order to cut their losses.

Is it going to be a crash?

Aren't you a joker?

No. Everything you wrote is not valid.

The supply will not increase, the amount of coins created will be the same.

Is this some sort of waybackmachine? Or replace avalon with bfl?

Avalon or not, miners will want to sell at current juicy prices.  So, perhaps not a crash, but a slow decline.

It's a self regulating protocol. Roughly the same number of coin will be generated, just the difficulty is going to skyrocket even more.

OP please try to understand Bitcoin before you talk OK?

U r wrong. For a short period of time (2016-block step) coins will be generated faster.

I probably understood it better than you will even in your whole life.


The market just needs a trigger to fall, and this can be it. Or maybe not.

Not gonna happen.

Agree, the only way a market effect could be noticed is if a group of miners, get a large chunk of coins mined each day and either hoard/sell a disproportionate number of new coins then what is currently the average. 

Even then each day creates more total coins lessening the effect the coins produced each day effect the whole.

Isn't the average mining at 3600 per 24 hours?  So if someone had 50% of the minning power, they could only hoard/sell 1800 a day.  Which I suppose at the right time could mess with the market a little bit but traders with more coin have tried and failed numerous times.

Please. The difficulty adjusts so that the same number of coins are adjusted per unit of time. The supply will not increase.

More hashing power can only be good for the network.

It will increase in the extreme short term. The first few blocks would be generated faster so for a short period of time there would be marginally more bitcoins. Of course its unlikely that everybody turns on their asics at the same time.

A small increase in the extreme short term before the network corrects will do precisely nothing. Even if every newly mined coin was immediately sold at market prices the effect would be between minor and insignificant.

I call no change in value due to ASIC.

The coins do not increase in numbers.

The difficulty in making them will increase, but so will the ability to deal with the difficulty.

Either it will cancel itself out, or increase because of a preceived value-difficulty correlation.

Nuff said.

No.

OP you really have no clue what you're talking about, my advice is to stop talking now while you're behind. Saying things like
"I probably understood it better than you will even in your whole life."
just makes it more of a facepalm

Thanks for reminding me.  I forgot to sell when GPU mining took over from CPU's.  Am I too late?
</sarcasm>

This ! Hahahaha

This

Agreed, but still to be fair it was necessary to point it out.

You are right in a way, from my point of view.
I guess that as much Asics there are as much the owners of the asics will have to sell bitcoins to cover their expenses and initial investments.
By now it seems like they are not selling all the BTCs they are mining because they don't need to, they are making 46% of profit at the moment (at least I read so in blockchain.info statistics). But once there are a lot of asics sold being the number of mined BTCs each month the same, they will have to sell more and more BTCs, or the price of BTCs has to go on rising. Let's see.
 

No. There is actually a very strong argument against a crash as a result of the Avalon ASIC release in particular in the case of batch #3. Why? Because I would not be surprised if in many cases the BTC that the ASIC will produce have already been sold., and their owners are in many cases flush with fiat and effectively "short" BTC.  They will look at their ASICs as a way to replace their BTC that were, in some cases, prematurely sold during the boom. On the other hand the GPU miners they displace had substantial electricity costs payable in fiat. The net effect can very well be less BTC hitting the market than before.

In short I would expect that the Avalon ASICs may end up in some of Bitcoin's strongest hands, or even in hands that are weak because they have to few BTC.

many miners mine and hold to sell at higher prices later.

Seems OP is still recovering from 420

Seems like it's not a good idea to invest in all those Asic shares now ... Most of them will probably lost money at the end of the year, prolly overrated.
But people are going crazy about it, and it must be taken into account.

Generally speaking I'm afraid that because of the huge bubble we experienced at the beginning of this year, it might be that everything: altcoins, Ascics shares and even bitcoins themselves will slowly go down for the rest of the year.