Bitcoin Forum
October 09, 2024, 01:17:33 AM
Welcome,
Guest
. Please
login
or
register
.
News
: Latest Bitcoin Core release:
28.0
[
Torrent
]
Home
Help
Search
Login
Register
More
Bitcoin Forum
>
Economy
>
Economics
>
Speculation
>
Avalon ASIC CHIP offer-effect on BTC price
Pages: [
1
]
« previous topic
next topic »
Print
Author
Topic: Avalon ASIC CHIP offer-effect on BTC price (Read 1482 times)
eclipse81
(OP)
Newbie
Offline
Activity: 50
Merit: 0
Avalon ASIC CHIP offer-effect on BTC price
April 17, 2013, 12:25:16 PM
#1
Please forgive me if this has already been posted.Since I am interested in discussing the potential effect on BTC price and not the chips themselves I thought this would be the appropriate forum.
So the question I have for the community is what effect short term and long term do you see this having on BTC price.
My thought are thus (please bear with my parameters for short Mid and long term I am just using those time frames for this thread)
1.Short term(1-5 days to account for SEPA transfers and other slower fiat transactions) rise with people grabbing BTC quick to be one of the first to order.(we may already be seeing those effects)
2.Mid term (6-14 days)rise caused by
A.community confidence on rise with price breaking $100,which may be in no small part do to hypothesis 1.
B.community confidence in future of more widely available ASIC products,which hopefully mean a more secure network(unless of course some non-benign entity buys the vast majority and puts them to a nefarious purpose
3.Longer Term(14 days - 6 months)rise-
A.at approx 3 month mark hopefully we will see the first products roll out based on these chips and DIYers will have their rigs on the network thus driving up difficulty.
B.Cheap and available mining solutions will be available-meaning more people can get into mining thus increasing interest in BTC
C.BFL will probably still not have delivered and even if they have their ridiculous prices will have most people cancelling thus putting this entire 1 year confidence draining fiasco into the footnotes of BTC history.
Now of course I know that the Avalon chip offering will only be one of many variables exerting themselves on the BTC market but I am just curious what the rest of you think of its effects(if any) on the future of this thing called BTC so much of us have vested ourselves in.
fitty
Hero Member
Offline
Activity: 728
Merit: 501
CryptoTalk.Org - Get Paid for every Post!
Re: Avalon ASIC CHIP offer-effect on BTC price
April 17, 2013, 01:49:49 PM
#2
None.
. ██████████.
.████████████████.
.██████████████████████.
-█████████████████████████████
.██████████████████████████████████.
-█████████████████████████████████████████
-███████████████████████████████████████████████
.-█████████████████████████████████████████████████████.
.████████████████████████████████████████████████████████████
.██████████████████████████████████████████████████████████████.
.██████████████████████████████████████████████████████████████.
..████████████████████████████████████████████████████████████..
. .██████████████████████████████████████████████████████.
. .████████████████████████████████████████████████.
. .
██████████████████████████████████████████████
. ████
██████████████████████████████████████████████
████
.██████████
██████████████████████████████████████████
█████████.
.████████████
████████████████████████████████████
███████████
.█████████████
█████████████████████████████
███████████
.████████████
███████████████████████
█████████████
████████████
█████████████████
███████████
█████████████
█████████
████████████
██████████████████████████
████████████████████
████████████████
█████████
.
C
r
y
p
t
o
T
a
l
k
.
o
r
g
.
|
.
M
A
K
E
P
O
S
T
S
A
N
D
E
A
R
N
B
T
C
!
.
🏆
eclipse81
(OP)
Newbie
Offline
Activity: 50
Merit: 0
Re: Avalon ASIC CHIP offer-effect on BTC price
April 23, 2013, 03:49:34 AM
#3
Really?You do not think the largest ASIC chip distribution in the history of Bitcoin so far will have an effect on the price?Short term or long term?I assume you are just trolling then.people have been been clomaring for asics and now this will open the floodgates to widely available ASICS form a number of manufacturers(or at least thats my hope).
Peleus
Member
Offline
Activity: 112
Merit: 100
Re: Avalon ASIC CHIP offer-effect on BTC price
April 23, 2013, 04:25:02 AM
#4
Quote from: eclipse81 on April 23, 2013, 03:49:34 AM
Really?You do not think the largest ASIC chip distribution in the history of Bitcoin so far will have an effect on the price?Short term or long term?I assume you are just trolling then.people have been been clomaring for asics and now this will open the floodgates to widely available ASICS form a number of manufacturers(or at least thats my hope).
Nope. No effect.
Mining difficulty is not correlated with Bitcoin price.
Kazu
Full Member
Offline
Activity: 168
Merit: 100
Re: Avalon ASIC CHIP offer-effect on BTC price
April 23, 2013, 04:27:10 AM
#5
In the very short term it might drop a few bucks and in the long term it will add to the security of bitcoin thus potentially increasing its price more through potential scalability than anything else. These may be already priced in though. Very little change even if it is not.
CoinLenders - Bitcoin Bank Script / Demo
1v.io/kazu
- 15ccW7m6RxDFWEKc3P1NdwWpX1N1pU7gZ8
eclipse81
(OP)
Newbie
Offline
Activity: 50
Merit: 0
Re: Avalon ASIC CHIP offer-effect on BTC price
April 23, 2013, 05:16:47 AM
#6
I understand that mining difficulty does not correlate with price.However do you believe that having widely available standalone mining units will make mining more accessible to the masses.This hopefully will result in more users and higher demand.The resulting increase in hash rate should make the network more secure,this plus the increased user base should make bitcoin a more attractive market for businesses.This is all hypothetical of course but I feel they are valid and that this offering will have a significant impact on bitcoin.But hey thats just one persons opinion.
Kazu
Full Member
Offline
Activity: 168
Merit: 100
Re: Avalon ASIC CHIP offer-effect on BTC price
April 23, 2013, 05:21:03 AM
#7
Quote from: eclipse81 on April 23, 2013, 05:16:47 AM
I understand that mining difficulty does not correlate with price.However do you believe that having widely available standalone mining units will make mining more accessible to the masses.This hopefully will result in more users and higher demand.The resulting increase in hash rate should make the network more secure,this plus the increased user base should make bitcoin a more attractive market for businesses.This is all hypothetical of course but I feel they are valid and that this offering will have a significant impact on bitcoin.But hey thats just one persons opinion.
People generally use btc then mine, not the other way.
CoinLenders - Bitcoin Bank Script / Demo
1v.io/kazu
- 15ccW7m6RxDFWEKc3P1NdwWpX1N1pU7gZ8
Peleus
Member
Offline
Activity: 112
Merit: 100
Re: Avalon ASIC CHIP offer-effect on BTC price
April 23, 2013, 05:30:12 AM
#8
Quote from: eclipse81 on April 23, 2013, 05:16:47 AM
I understand that mining difficulty does not correlate with price.However do you believe that having widely available standalone mining units will make mining more accessible to the masses.This hopefully will result in more users and higher demand.The resulting increase in hash rate should make the network more secure,this plus the increased user base should make bitcoin a more attractive market for businesses.This is all hypothetical of course but I feel they are valid and that this offering will have a significant impact on bitcoin.But hey thats just one persons opinion.
No, if anything ASICs make mining less accessable due to the increased initial hardware costs. GPU mining was much better 'for the masses'.
crazy_rabbit
Legendary
Offline
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
Re: Avalon ASIC CHIP offer-effect on BTC price
April 23, 2013, 05:38:22 AM
#9
Quote from: Peleus on April 23, 2013, 05:30:12 AM
Quote from: eclipse81 on April 23, 2013, 05:16:47 AM
I understand that mining difficulty does not correlate with price.However do you believe that having widely available standalone mining units will make mining more accessible to the masses.This hopefully will result in more users and higher demand.The resulting increase in hash rate should make the network more secure,this plus the increased user base should make bitcoin a more attractive market for businesses.This is all hypothetical of course but I feel they are valid and that this offering will have a significant impact on bitcoin.But hey thats just one persons opinion.
No, if anything ASICs make mining less accessable due to the increased initial hardware costs. GPU mining was much better 'for the masses'.
ASICS will be 'for the masses' soon enough as well.
more or less retired.
notme
Legendary
Offline
Activity: 1904
Merit: 1002
Re: Avalon ASIC CHIP offer-effect on BTC price
April 23, 2013, 05:49:15 AM
#10
Quote from: Peleus on April 23, 2013, 04:25:02 AM
Quote from: eclipse81 on April 23, 2013, 03:49:34 AM
Really?You do not think the largest ASIC chip distribution in the history of Bitcoin so far will have an effect on the price?Short term or long term?I assume you are just trolling then.people have been been clomaring for asics and now this will open the floodgates to widely available ASICS form a number of manufacturers(or at least thats my hope).
Nope. No effect.
Mining difficulty is not correlated with Bitcoin price.
Wrong. It is a fact that difficulty and price are correlated. However, difficulty is not a major causative factor in price.
https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
eclipse81
(OP)
Newbie
Offline
Activity: 50
Merit: 0
Re: Avalon ASIC CHIP offer-effect on BTC price
April 23, 2013, 05:51:54 AM
#11
My thinking exactly.GPU mining was not that available to the "masses".Yes plenty of tech savvy folk had rigs that could be used for mining at varying degrees of difficulty,but most GPU miners had a better thean avergae tech level and tweaked their GPUs extensively.Now I am thinking more of the people I talk to at work or while hangin out who are interested in Bitcoin and wouldnt hesitate to throw a few bucks at a plug and play miner.I personally could see cheap(100 USD or less )miners being cool gifts for some of my friends.I could see 1-2Gh miners going for less then 100 by Sep/Oct.Now I know the network difficulty will be way higher then but it will till get people vested in the community.But hey if our coins hit 1000 USD then they will still be a reasonable investment IMO.Just my two bitcents.
phlogistonq
Full Member
Offline
Activity: 159
Merit: 100
Re: Avalon ASIC CHIP offer-effect on BTC price
April 23, 2013, 07:14:18 AM
#12
Quote from: Peleus on April 23, 2013, 04:25:02 AM
Mining difficulty is not correlated with Bitcoin price.
On the contrary, they are strongly correlated.
What I think you mean is that difficulty does not affect the price, but instead price determines the profitability of mining, and in that way drives difficulty.
Pages: [
1
]
Print
Bitcoin Forum
>
Economy
>
Economics
>
Speculation
>
Avalon ASIC CHIP offer-effect on BTC price
« previous topic
next topic »
Jump to:
Please select a destination:
-----------------------------
Bitcoin
-----------------------------
=> Bitcoin Discussion
===> Legal
===> Press
===> Meetups
===> Important Announcements
=> Development & Technical Discussion
===> Wallet software
=====> Electrum
=====> Bitcoin Wallet for Android
=====> BitcoinJ
=====> Armory
=====> Mycelium
=====> Hardware wallets
=> Mining
===> Mining support
===> Pools
===> Mining software (miners)
===> Hardware
=====> Group buys
===> Mining speculation
=> Bitcoin Technical Support
=> Project Development
-----------------------------
Economy
-----------------------------
=> Economics
===> Speculation
=> Marketplace
===> Goods
=====> Computer hardware
=====> Digital goods
=======> Invites & Accounts
=====> Collectibles
===> Services
===> Currency exchange
===> Gambling
=====> Games and rounds
=====> Investor-based games
=====> Gambling discussion
===> Lending
=====> Long-term offers
===> Securities
===> Auctions
===> Service Announcements
=====> Micro Earnings
===> Service Discussion
=====> Web Wallets
=====> Exchanges
=> Trading Discussion
===> Scam Accusations
===> Reputation
-----------------------------
Other
-----------------------------
=> Meta
===> New forum software
===> Bitcoin Wiki
=> Politics & Society
=> Beginners & Help
=> Off-topic
=> Serious discussion
===> Ivory Tower
=> Archival
===> Корзина
===> CPU/GPU Bitcoin mining hardware
===> Chinese students
===> Obsolete (buying)
===> Obsolete (selling)
===> MultiBit
-----------------------------
Alternate cryptocurrencies
-----------------------------
=> Altcoin Discussion
=> Announcements (Altcoins)
===> Tokens (Altcoins)
=> Mining (Altcoins)
===> Pools (Altcoins)
=> Marketplace (Altcoins)
===> Service Announcements (Altcoins)
===> Service Discussion (Altcoins)
===> Bounties (Altcoins)
=> Speculation (Altcoins)
-----------------------------
Local
-----------------------------
=> العربية (Arabic)
===> العملات البديلة (Altcoins)
=====> النقاشات
===> إستفسارات و أسئلة المبتدئين
===> التعدين
===> النقاشات الأخرى
===> منصات التبادل
=> Bahasa Indonesia (Indonesian)
===> Marketplace (Bahasa Indonesia)
===> Mining (Bahasa Indonesia)
===> Altcoins (Bahasa Indonesia)
===> Trading dan Spekulasi
===> Ekonomi, Politik, dan Budaya
===> Topik Lainnya
=> Español (Spanish)
===> Mercado y Economía
=====> Servicios
=====> Trading y especulación
===> Hardware y Minería
===> Esquina Libre
===> Mercadillo
=====> Mexico
=====> Argentina
=====> España
=====> Centroamerica y Caribe
===> Primeros pasos y ayuda
===> Altcoins (criptomonedas alternativas)
=====> Minería de altcoins
=====> Servicios
=====> Tokens (Español)
=> 中文 (Chinese)
===> 跳蚤市场
===> 山寨币
===> 媒体
===> 挖矿
===> 离题万里
=> Hrvatski (Croatian)
===> Trgovina
===> Altcoins (Hrvatski)
=====> Announcements (Hrvatski)
===> Off-topic (Hrvatski)
=> Deutsch (German)
===> Anfänger und Hilfe
===> Mining (Deutsch)
===> Trading und Spekulation
===> Projektentwicklung
===> Off-Topic (Deutsch)
===> Treffen
===> Presse
===> Altcoins (Deutsch)
=====> Announcements (Deutsch)
===> Marktplatz
=====> Auktionen
=====> Suche
=====> Biete
=> Ελληνικά (Greek)
===> Αγορά
===> Mining Discussion (Ελληνικά)
===> Altcoins (Ελληνικά)
=====> Altcoin Announcements (Ελληνικά)
=====> Altcoin Mining (Ελληνικά)
=> עברית (Hebrew)
=> Français
===> Actualité et News
===> Débutants
===> Discussions générales et utilisation du Bitcoin
===> Mining et Hardware
===> Économie et spéculation
===> Place de marché
=====> Échanges
=====> Produits et services
=====> Petites annonces
===> Le Bitcoin et la loi
===> Wiki, documentation et traduction
===> Développement et technique
===> Vos sites et projets
===> Hors-sujet
===> Altcoins (Français)
=====> Annonces
=> India
===> Mining (India)
===> Marketplace (India)
===> Regional Languages (India)
===> Press & News from India
===> Alt Coins (India)
===> Buyer/ Seller Reputations (India)
===> Off-Topic (India)
=> Italiano (Italian)
===> Guide (Italiano)
===> Progetti
===> Discussioni avanzate e sviluppo
===> Trading, analisi e speculazione
===> Mercato
=====> Mercato valute
=====> Beni
=====> Servizi
=====> Esercizi commerciali
=====> Hardware/Mining (Italiano)
=====> Gambling (Italiano)
===> Accuse scam/truffe
===> Mining (Italiano)
===> Alt-Currencies (Italiano)
=====> Annunci
===> Raduni/Meeting (Italiano)
===> Crittografia e decentralizzazione
===> Off-Topic (Italiano)
=> 日本語 (Japanese)
===> アルトコイン
=> Nederlands (Dutch)
===> Markt
===> Gokken/lotterijen
===> Mining (Nederlands)
===> Beurzen
===> Alt Coins (Nederlands)
===> Off-topic (Nederlands)
===> Meetings (Nederlands)
=> Nigeria (Naija)
===> Politics and society (Naija)
===> Off-topic (Naija)
=> 한국어 (Korean)
===> 대체코인 Alt Coins (한국어)
=> Pilipinas
===> Altcoins (Pilipinas)
=====> Altcoin Announcements (Pilipinas)
===> Pamilihan
===> Others (Pilipinas)
=> Polski
===> Tablica ogłoszeń
===> Alternatywne kryptowaluty
=====> Nowe kryptowaluty i tokeny
=====> Tablica ogłoszeń (altcoiny)
=> Português (Portuguese)
===> Primeiros Passos (Iniciantes)
===> Economia & Mercado
===> Mineração em Geral
===> Desenvolvimento & Discussões Técnicas
===> Criptomoedas Alternativas
===> Brasil
===> Portugal
=> Русский (Russian)
===> Новички
===> Бизнес
=====> Барахолка
=====> Обменники
===> Идеи
===> Кодеры
===> Майнеры
===> Политика
===> Трейдеры
===> Альтернативные криптовалюты
=====> Токены
=====> Бayнти и aиpдpoпы
===> Хайпы
===> Работа
===> Разное
===> Oбcyждeниe Bitcoin
=====> Новости
=====> Юристы
=> Română (Romanian)
===> Anunturi importante
===> Offtopic
===> Market
=====> Discutii Servicii
===> Minerit
===> Tutoriale
===> Bine ai venit!
===> Presa
===> Altcoins (Monede Alternative)
=====> Anunturi Monede Alternative
=> Skandinavisk
=> Türkçe (Turkish)
===> Bitcoin Haberleri
===> Pazar Alanı
===> Madencilik
===> Ekonomi
===> Servisler
=====> Fonlar
===> Proje Geliştirme
===> Alternatif Kripto-Paralar
=====> Madencilik (Alternatif Kripto-Paralar)
=====> Duyurular (Alternatif Kripto-Paralar)
===> Konu Dışı
===> Yeni Başlayanlar & Yardım
===> Buluşmalar
=> Other languages/locations
Loading...