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Title: What if asic manufacturers raise the btc price ? Post by: borgfish on June 21, 2013, 09:12:35 AM Hello,
i came to a thought, and would like to hear opinions about this: what if asic manufacturers raised / keep raising the btc price by not converting btc payments / buying additional btc ::: to warrant high sales price of their wares ? Not only would there be a cash inflow (to btc market) of ppl buying btc to pay for an asic with, but with the raised asic prices because of high btc price and the directly USD inflow they could as well partially buy additional btc to warrant for even more btc prices raise. together with people keeping their btc because of the deflationary layout of btc this would warrant "further inflation of the bubble" : i myself believe its not useful to have the price volatile as its bad for the main purpose of btc: payments. such a shame there will be lots of "early adoper" millionaires from the money the latecomers pay.. i myself believe the deflationary layout(making ppl keep their btc's) is an absolute proof of a "big time ponzi", it could as well be a steady mining revenue for all times.. if i was new to this, i would'nt buy into it. if noone would, when do you suppose a coinhoarder would drop his btc into the market and the price will go to the bottom ? greetings Title: Re: What if asic manufacturers raise the btc price ? Post by: counter on June 21, 2013, 09:26:40 AM I don't agree with your analysis fully because there is alot of things to consider. The "coin hoarder" has to realize that making a volatile price and unfriendly environment for the new little guy would be a bad thing for the Bitcoin economy in general and hurt their investment for the long term in my opinion.
I do think you make a good argument to support your point of view but I don't agree with the overall assessment. Title: Re: What if asic manufacturers raise the btc price ? Post by: empoweoqwj on June 21, 2013, 09:38:33 AM The most successful ASIC manufacturer today is ASICMINER. Their own mining operation is currently producing 20%+ of all bitcoins in the world. Half of their company is owned by us, the public, and they pay weekly dividends, so they aren't hoarding coins. They are distributing them.
In addition, they also sell blades + USB mining devices to the public. So again, they are allowing "joe public" to mine bitcoins and do what they want with them. Of course early adopters will make the most money. Its the same with everything, and nothing wrong with it. I see no evidence of the bitcoin price being artificially raised, the price hasn't exactly skyrocketed the last few months has it Title: Re: What if asic manufacturers raise the btc price ? Post by: BitAddict on June 21, 2013, 09:39:08 AM They need to sell at least a big part of their btc for buying more components and keep growing their hashrate and keep researching... If they don't do that they will get outpowered.
Title: Re: What if asic manufacturers raise the btc price ? Post by: smoothie on June 21, 2013, 09:39:23 AM If they did, they would be pricing their customers out of reach from buying their products in any meaningful manner.
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