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Sant001 (OP)
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August 31, 2012, 05:49:07 AM |
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I think the most likely scenario is that he will pay some, but not all the coins owed.
So we'll have (1) some coins hitting the exchanges and (2) some bad press coverage related to the partial default.
Both events would tend to drive prices down at least short term, right? What you guys think?
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payb.tc
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August 31, 2012, 05:51:48 AM |
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from now until dec 2, it's gradually going to increase to somewhere between $15 and $20.
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HDSolar
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August 31, 2012, 05:55:06 AM |
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from now until dec 2, it's gradually going to increase to somewhere between $15 and $20.
+1 But not dec 2, more like Nov 20=BFL ASIC effect will be in full effect. If I am wrong then I am  |
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waspoza
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August 31, 2012, 08:51:14 AM |
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from now until dec 2, it's gradually going to increase to somewhere between $15 and $20.
+1 But not dec 2, more like Nov 20=BFL ASIC effect will be in full effect. If I am wrong then I am What mining hardware has to do with BTC price? |
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bitcats
Legendary
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Activity: 1014
Merit: 1001
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August 31, 2012, 09:58:49 AM |
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from now until dec 2, it's gradually going to increase to somewhere between $15 and $20.
And after that date? |
"Unser Problem ist nicht ziviler Ungehorsam, unser Problem ist ziviler Gehorsam." - Howard Zinn
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SolarSilver
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Activity: 1112
Merit: 1000
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August 31, 2012, 10:37:14 AM |
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What mining hardware has to do with BTC price?
People are afraid that the new ASIC processing will flood the market with new, cheaper (faster obtained) coins and those will be cashed in asap to recover the ASIC investment, thus driving down prices. Pure speculation as other factors are at play as well, like difficulty will go up and more unprofitable GPU (electric costs) operators will call it quits. Volatility can cause up or down prices... |
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unclescrooge
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August 31, 2012, 11:21:31 AM |
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What mining hardware has to do with BTC price?
People are afraid that the new ASIC processing will flood the market with new, cheaper (faster obtained) coins and those will be cashed in asap to recover the ASIC investment, thus driving down prices. Lol |
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mobodick
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August 31, 2012, 11:28:23 AM |
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What mining hardware has to do with BTC price?
People are afraid that the new ASIC processing will flood the market with new, cheaper (faster obtained) coins and those will be cashed in asap to recover the ASIC investment, thus driving down prices. Lol Care to elaborate? |
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waspoza
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August 31, 2012, 11:29:22 AM |
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What mining hardware has to do with BTC price?
People are afraid that the new ASIC processing will flood the market with new, cheaper (faster obtained) coins and those will be cashed in asap to recover the ASIC investment, thus driving down prices. Pure speculation as other factors are at play as well, like difficulty will go up and more unprofitable GPU (electric costs) operators will call it quits. Volatility can cause up or down prices... Ye but this is bullshit. There is 7,2k coins mined daily and 60k coins traded daily only in mtgox/usd market. So even if mining double, its still too small volume to crash the market. Not to mention that difficulty will trigger and even things out. |
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unclescrooge
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August 31, 2012, 11:32:22 AM |
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What mining hardware has to do with BTC price?
People are afraid that the new ASIC processing will flood the market with new, cheaper (faster obtained) coins and those will be cashed in asap to recover the ASIC investment, thus driving down prices. Pure speculation as other factors are at play as well, like difficulty will go up and more unprofitable GPU (electric costs) operators will call it quits. Volatility can cause up or down prices... Ye but this is bullshit. There is 7,5k coins mined daily and 60k coins traded daily only in mtgox/usd market. So even if mining double, its still too small volume to crash the market. Not to mention that difficulty will trigger and even things out. this there a fixed amount of coins mined every day, and even if 100 thash/s of asic come at once, things will even out quickly. |
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bitarrow
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August 31, 2012, 02:33:33 PM |
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and the reward will be cut in half before your "effect" takes place. Also some of us with rigs might just save the coins or sell off exchange  |
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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August 31, 2012, 02:46:17 PM |
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from now until dec 2, it's gradually going to increase to somewhere between $15 and $20.
I think it's the other way round, er, wait, I'm a bull, I mean. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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mobodick
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August 31, 2012, 03:57:49 PM |
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from now until dec 2, it's gradually going to increase to somewhere between $15 and $20.
I think it's the other way round, er, wait, I'm a bull, I mean. ........  ........ |
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Sitarow
Legendary
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Activity: 1792
Merit: 1047
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August 31, 2012, 04:29:35 PM |
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What mining hardware has to do with BTC price?
People are afraid that the new ASIC processing will flood the market with new, cheaper (faster obtained) coins and those will be cashed in asap to recover the ASIC investment, thus driving down prices. Pure speculation as other factors are at play as well, like difficulty will go up and more unprofitable GPU (electric costs) operators will call it quits. Volatility can cause up or down prices... If I were to make BTC on ASIC hardware then I would use said BTC on more ASIC hardware. |
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kjj
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Activity: 1302
Merit: 1024
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August 31, 2012, 04:49:29 PM |
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Deadline? What did I miss?
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17Np17BSrpnHCZ2pgtiMNnhjnsWJ2TMqq8
I routinely ignore posters with paid advertising in their sigs. You should too.
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mobodick
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August 31, 2012, 04:54:11 PM |
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Deadline? What did I miss?
It ended 2 hours ago... |
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_mr_e
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Activity: 817
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August 31, 2012, 06:36:57 PM |
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Didn't he just say he defaulted days ago? What new deadline?
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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August 31, 2012, 06:38:48 PM |
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Didn't he just say he defaulted days ago? What new deadline?
OMG people. As a debtor your default doesn't start when you make some kind of official announcement. It starts when you don't make a payment or otherwise violate the agreement you have with your lender. Pirates default started almost 2 weeks before he made his official announcement. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Steve
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August 31, 2012, 07:21:09 PM |
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Even though ASIC hardware will start to ship in late October, I doubt enough of the hardware will get into the hands of enough people to have a huge impact before the reward is cut to 25 BTC in early December. Even if it does, the difficulty won't jump upward in a straight line, it will steadily increase. One thing is for certain however, the number of new coins that will come into existence between now and the drop to 25 for the reward is fixed. ASIC might accelerate the drop by a few days, but probably not more than that. Halving of the daily supply of new bitcoins, and the anticipation of that, is likely to make the price rise (possibly by a lot).
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niko
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August 31, 2012, 07:52:28 PM |
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from now until dec 2, it's gradually going to increase to somewhere between $15 and $20.
+1 But not dec 2, more like Nov 20=BFL ASIC effect will be in full effect. If I am wrong then I am What mining hardware has to do with BTC price? A lot. Most important connections are confused thinking, self-fullfilled prophecies, and the herd mentality. |
They're there, in their room.
Your mining rig is on fire, yet you're very calm.
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