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tHash
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May 02, 2013, 06:08:34 AM |
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Butterfly labs officially announced shipping... prepare for the bullrun!!
or not...
Coming of ASICs means just one ... selling pressure. People invested a lot into ASIC hardware and they need to cover the costs. The question is if there's still enough buyers to keep the price at these levels after all the news bitcoin-mania ended. We are in the bear market now. The price may slowly go downwards throughout the whole 2013 like it did after 2011 crash. Agreed.I don't understand advocates who believe price will rise on new asics hardware. This can only lead to increasing daily coins supply, thus more selling pressure. Maybe 10% or 20% increase as difficulty adjusts. An extra 360 coins a day will do nothing. Also, the network already quadrupled, leading to the same sort of oversupply. The next quadrupling will actually take longer than the last one, and as slow as BFL is shipping, difficulty will be able to adjust just fine to limit supply. |
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The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
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adamstgBit
Legendary
 Offline
Activity: 1904
Merit: 1022
Trusted Bitcoiner
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May 02, 2013, 06:20:48 AM |
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Butterfly labs officially announced shipping... prepare for the bullrun!!
or not...
Coming of ASICs means just one ... selling pressure. People invested a lot into ASIC hardware and they need to cover the costs. The question is if there's still enough buyers to keep the price at these levels after all the news bitcoin-mania ended. We are in the bear market now. The price may slowly go downwards throughout the whole 2013 like it did after 2011 crash. Agreed.I don't understand advocates who believe price will rise on new asics hardware. This can only lead to increasing daily coins supply, thus more selling pressure. Maybe 10% or 20% increase as difficulty adjusts. An extra 360 coins a day will do nothing. Also, the network already quadrupled, leading to the same sort of oversupply. The next quadrupling will actually take longer than the last one, and as slow as BFL is shipping, difficulty will be able to adjust just fine to limit supply. price will rise because BLF delivered and is not a scam, i'm sure everyone that pre-ordered BLF now has a big weight lifted off their shoulders. yet another amazing thing bitcoin has accomplished in only 3 years time. good vibes = price increase. |
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tHash
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May 02, 2013, 06:28:47 AM |
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price will rise because BLF delivered and is not a scam, i'm sure everyone that pre-ordered BLF now has a big weight lifted off their shoulders. yet another amazing thing bitcoin has accomplished in only 3 years time.
good vibes = price increase.
I hope you are right  The weight won't be lifted off of my shoulders until I have my units hashing, and the price is of bitcoin is above 0. I have a June order, and have a pretty decent chance of doing alright, unlike people ordering now, thinking they are going to make out like bandits only to find the network will be 2 Ph/s + by time they get their devices, they will not be happy . . . |
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crazy_rabbit
Legendary
Offline
Activity: 1204
Merit: 1001
RUM AND CARROTS: A PIRATE LIFE FOR ME
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May 02, 2013, 06:50:43 AM |
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Butterfly labs officially announced shipping... prepare for the bullrun!!
or not...
Coming of ASICs means just one ... selling pressure. People invested a lot into ASIC hardware and they need to cover the costs. The question is if there's still enough buyers to keep the price at these levels after all the news bitcoin-mania ended. We are in the bear market now. The price may slowly go downwards throughout the whole 2013 like it did after 2011 crash. Agreed.I don't understand advocates who believe price will rise on new asics hardware. This can only lead to increasing daily coins supply, thus more selling pressure. True, but at this point the network rate is so high that people aren't going to be making many coins anymore with ASIC. HAving an ASIC is like GPUS a year ago, and people weren't desperate to sell then either. |
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needmorecoins
Member
Offline
Activity: 65
Merit: 10
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May 02, 2013, 07:29:32 AM |
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I guess whoever the manipulator is, he make his moves when everyone's asleep.
Or people just got bored of the price lol.
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EuroTrash
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May 02, 2013, 07:30:21 AM |
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at this point the network rate is so high that people aren't going to be making many coins anymore with ASIC. HAving an ASIC is like GPUS a year ago, and people weren't desperate to sell then either.
I believe that 1. Most miners have held their coins since January. Recent trends might make them want to dump the 100k coins produced since. 2. Not profitable for a western individual miner (exception made for Icelanders who have near-free energy) but in the short term very profitable for Chinese people with know-how or for businesses and loaded tycoons who can buy the chips from Avalon in batches of 10000 or build their own. Sent from my phone sorry for spelling errors |
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ManBearPig
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May 02, 2013, 07:32:38 AM |
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Off-topic slightly but LTC and NMC seem to have done very well before, during and after the latest BTC dive.
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deathcode
Copper Member
Sr. Member
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Activity: 1246
Merit: 250
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May 02, 2013, 07:41:08 AM |
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121 wall got destroyed!!!
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NamelessOne
Legendary
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Activity: 840
Merit: 1000
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May 02, 2013, 07:42:27 AM |
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121 wall got destroyed!!!
It was total termination, hehe  |
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deathcode
Copper Member
Sr. Member
Offline
Activity: 1246
Merit: 250
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May 02, 2013, 07:43:22 AM |
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121 wall got destroyed!!!
It was total termination, hehe 125 wall... you're next |
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Frozenlock
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May 02, 2013, 07:44:42 AM |
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What is happeniiiiing?!?!
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NamelessOne
Legendary
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Activity: 840
Merit: 1000
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May 02, 2013, 07:46:35 AM |
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What is happeniiiiing?!?!
Seems the market is confident after a test of the 100-110 range. |
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deathcode
Copper Member
Sr. Member
Offline
Activity: 1246
Merit: 250
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May 02, 2013, 07:52:30 AM |
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What is happeniiiiing?!?!
Seems the market is confident after a test of the 100-110 range. this is market manipulation at its finest... whoever dumped yesterday, is re-buying at lower prices now.. makes total sense... waited to make sure the bottom was reached and now is rebuying again... |
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Frozenlock
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May 02, 2013, 07:55:39 AM |
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You guys see manipulation everywhere.
I see a bunch of people panic buying.
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deathcode
Copper Member
Sr. Member
Offline
Activity: 1246
Merit: 250
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May 02, 2013, 07:59:45 AM |
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You guys see manipulation everywhere.
I see a bunch of people panic buying.
I've been watching how buy order of 1000 coins was moving back and forth slowly but surely while the price was going up, not that order is at 121.... that's ONE single person/bot moving that order. not multiple people...and it was systematically appearing so that's why I think this is the doing of one account only followed by smaller fish.. |
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hmmmstrange
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May 02, 2013, 08:03:54 AM |
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This is one of the weirdest pushes up i've seen. Bewildered!
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Frozenlock
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May 02, 2013, 08:04:54 AM |
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Damnit... I wanted to go to sleep... Now I must wait to see if the price crosses my threshold.  |
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Hailo
Newbie
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Activity: 38
Merit: 0
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May 02, 2013, 08:06:34 AM |
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Damnit... I wanted to go to sleep... Now I must wait to see if the price crosses my threshold. Somehow shit always happens when you're asleep in bitcoin world |
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gizmoh
Legendary
Offline
Activity: 1428
Merit: 1000
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May 02, 2013, 08:10:45 AM |
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it will crash as quick as it climbed, bull trap! the situation is bearish, don't panic buy, just wait and see..
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Brushan
Member
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Activity: 224
Merit: 10
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May 02, 2013, 08:13:08 AM |
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Many funny moments on this sub-forum. Right now i'm interested in what arepo will say. A few days ago everyone that wasn't a bear was a fool according to him and we would never go below 120. Then as price started to dive every bull was wrong and we would touch 90's short term. Now as price is starting to rise again i wonder if he is going to change his mind again..  |
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