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Author Topic: Are you expecting a crash when Avalon Asics will be released?  (Read 2803 times)
naphto
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April 21, 2013, 11:13:31 AM
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When the first device will be received, the owner will mine like crazy, and the supply will increase.
The early one will know that soon, everyone will receive their own one, and want to sell it fast, in order to make some profit (because they invested a lot).
The investors that bet that the price of bitcoins was going to skyrocket to 1000 USD will see that a lot of new bitcoins are being sold, and the demand is the same (or even decreasing, because they will be afraid by those new btc that come way too fast).
Then, more people will have Avalon Asics and want to sell btc, and the investors who wanted to make some profits will probably sell aswell in order to cut their losses.

Is it going to be a crash?
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Jutarul
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April 21, 2013, 11:16:24 AM
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When the first device will be received, the owner will mine like crazy, and the supply will increase.
The early one will know that soon, everyone will receive their own one, and want to sell it fast, in order to make some profit (because they invested a lot).
The investors that bet that the price of bitcoins was going to skyrocket to 1000 USD will see that a lot of new bitcoins are being sold, and the demand is the same (or even decreasing, because they will be afraid by those new btc that come way too fast).
Then, more people will have Avalon Asics and want to sell btc, and the investors who wanted to make some profits will probably sell aswell in order to cut their losses.

Is it going to be a crash?
Aren't you a joker?

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intel
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April 21, 2013, 11:21:27 AM
 #3

Is it going to be a crash?

No. Everything you wrote is not valid.

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Birdy
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April 21, 2013, 11:24:23 AM
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The supply will not increase, the amount of coins created will be the same.
sunblaster
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April 21, 2013, 11:38:07 AM
 #5

Is this some sort of waybackmachine? Or replace avalon with bfl?
mestar
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April 21, 2013, 11:38:46 AM
 #6

Is it going to be a crash?

Avalon or not, miners will want to sell at current juicy prices.  So, perhaps not a crash, but a slow decline.
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April 21, 2013, 12:56:36 PM
 #7

It's a self regulating protocol. Roughly the same number of coin will be generated, just the difficulty is going to skyrocket even more.
oakpacific
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April 21, 2013, 01:01:12 PM
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OP please try to understand Bitcoin before you talk OK?

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
Come-from-Beyond
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April 21, 2013, 01:02:22 PM
 #9

The supply will not increase, the amount of coins created will be the same.

U r wrong. For a short period of time (2016-block step) coins will be generated faster.
naphto
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April 21, 2013, 01:12:01 PM
 #10

OP please try to understand Bitcoin before you talk OK?

I probably understood it better than you will even in your whole life.


The market just needs a trigger to fall, and this can be it. Or maybe not.
Gordonium
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April 21, 2013, 01:14:53 PM
 #11

Not gonna happen.

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dandirk
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April 21, 2013, 03:20:14 PM
 #12

Not gonna happen.

Agree, the only way a market effect could be noticed is if a group of miners, get a large chunk of coins mined each day and either hoard/sell a disproportionate number of new coins then what is currently the average. 

Even then each day creates more total coins lessening the effect the coins produced each day effect the whole.

Isn't the average mining at 3600 per 24 hours?  So if someone had 50% of the minning power, they could only hoard/sell 1800 a day.  Which I suppose at the right time could mess with the market a little bit but traders with more coin have tried and failed numerous times.

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April 21, 2013, 04:01:03 PM
 #13

When the first device will be received, the owner will mine like crazy, and the supply will increase.

Please. The difficulty adjusts so that the same number of coins are adjusted per unit of time. The supply will not increase.

More hashing power can only be good for the network.
Kazu
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April 21, 2013, 04:04:22 PM
 #14

When the first device will be received, the owner will mine like crazy, and the supply will increase.

Please. The difficulty adjusts so that the same number of coins are adjusted per unit of time. The supply will not increase.

More hashing power can only be good for the network.

It will increase in the extreme short term. The first few blocks would be generated faster so for a short period of time there would be marginally more bitcoins. Of course its unlikely that everybody turns on their asics at the same time.

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sd
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April 21, 2013, 04:11:10 PM
 #15

When the first device will be received, the owner will mine like crazy, and the supply will increase.

Please. The difficulty adjusts so that the same number of coins are adjusted per unit of time. The supply will not increase.

More hashing power can only be good for the network.

It will increase in the extreme short term. The first few blocks would be generated faster so for a short period of time there would be marginally more bitcoins. Of course its unlikely that everybody turns on their asics at the same time.

A small increase in the extreme short term before the network corrects will do precisely nothing. Even if every newly mined coin was immediately sold at market prices the effect would be between minor and insignificant.
antimattercrusader
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April 21, 2013, 04:14:25 PM
 #16

I call no change in value due to ASIC.

The coins do not increase in numbers.

The difficulty in making them will increase, but so will the ability to deal with the difficulty.

Either it will cancel itself out, or increase because of a preceived value-difficulty correlation.

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oakpacific
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April 21, 2013, 11:10:46 PM
 #17

OP please try to understand Bitcoin before you talk OK?

I probably understood it better than you will even in your whole life.


The market just needs a trigger to fall, and this can be it. Or maybe not.

Quote
and the supply will increase


Nuff said.

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SomeWhere
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April 21, 2013, 11:15:57 PM
 #18

No.
Gatekeeper
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April 21, 2013, 11:17:17 PM
 #19

OP you really have no clue what you're talking about, my advice is to stop talking now while you're behind. Saying things like
"I probably understood it better than you will even in your whole life."
just makes it more of a facepalm

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(1470) <KLYE> I will fuck a chicken for 250 btc
David M
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April 21, 2013, 11:20:46 PM
 #20

Thanks for reminding me.  I forgot to sell when GPU mining took over from CPU's.  Am I too late?
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