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Author Topic: Best swindle in the Bitcoin history? Avalon ASIC's?! = Crisis = Point of view  (Read 2860 times)
felente
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April 12, 2013, 01:21:39 AM
 #1

writing my thoughts about price changes in last 2 months / last 2 days (~$200 / btc difference).
just my observations:

(now and further - sorry for my english).

i think continuous sales of the Avalon-ASIC's ONLY FOR BITCOINS largerly have caused the crisis in last two days (as an observable consequence).

*) the problem and main idea is (was), that bitcoins are obtainable in restricted quantities, and in the last year exchange market was more or less balanced;

*) at some time Avalon begins to sell asics for BTC's ONLY (each for 70+) and what happens? many individuals are about to buy Avalons, ie buy bitcoins in increased amounts.
=> btc-price increase begins...

*) all this time (up to last two days) Avalon does not sell most BTC-income (price increasing) - causing even more increase in price, because there is a need for BTC's for further miners... and so on.

short modell should be:
I buy Miner (N pcs) > transfer 70 btc (x N) to Avalon > all these BTC's are on hold...
You buy Miner (N pcs) > transfer 70 btc (x N) to Avalon > all these BTC's are on hold...
He/She buys Miner (N pcs) > transfer 70 btc (x N) to Avalon > all these BTC's are on hold...
(repeating each day / ~2 months range)

note, that bitcoin market is no more so tiny, but again, not such a big one to handle [70 x NN] bitcoins disappear each and every day... surely the btc-price goes higher and higher then.

*) at some moment we have time when all who was able to buy ASIC's (70 BTC each) are satisfied or not more able to afford this deal  (at $150-$250 / BTC rates. USD-equivalents calculate by yourself please).
this statistical decrease  in orders could be well known by Avalon... now slowly Avalon begins to sell accumulated bitcoins.

*) at the same time people are buying less BTC, due they can't afford too expensive ASIC's and there is no need in bitcoins in such amounts.
that's the beginning of big fall.

*) but there are plenty of people in the wild making money on price changes, so they are already selling bitcoins too, and that's an observable crisis...

*) many other (late) people follow, what results in a "mass-hysteria sale".

i think all this was planned by Avalons team, almost sure. but this was planned in not too professional way i think Smiley

in any case, imagine - hardware announced as for $1500 sold for BTC 70+ at $70-$266 rates.
wow.
they just did it Smiley
greed is something wonderful sometimes, i mean not (only) avalon's side... Wink
that's incredible.

sorry again for my english. i know it sucks.
should be understandable what i would like to say.
feel free to judge and correct me please.
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nfurno
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April 12, 2013, 01:45:32 AM
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But bro, so many BTC's have traded hands that you could buy a million avalons and still not have all of the btc's tied up. I just dont see this math explaining it.

I simply think that BTC is freaking awesome, i am sooo happy that I mined so many back when we were only mining on CPU's

And now all of my freinds are into it and are trying to buy asics and gpu rigs to get in on the action, even if they only mine a fraction of a btc a day.

I use a few BTC here and there but i have some that i keep in reserve for when they are 50 grand plus each, then i will sell. They are from a VERY old block early on in mining.

It's the cross cultural and worldwide excitement over what btc represents that makes it so kickass.
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