New ASICS

[lucasio]

Hi all

I was wondering with the coming of all those new acics machines , will the bitcoin price increase or decrease

My first thought was that with the coming of those machines there are less available bitcoins so the price would increase but now the machines are on the market i do not see a rising line in terms of pricing of bitcoins?

What are youre thoughts?

[Marsupial]

I don't think hashrate influences the value of bitcoins.

that's the mecanics behind the confirmation process. People don't care about it very much.

What influence the price is mainly offer and demand.

Available bitcoins are meant to augment as time goes. With 1 block every 10 minutes generating 25 new BTCs, it is pretty much constant as far as offer. Unless people all pack it up and don't put them for trade. But people actually use BTC to purchase goods.

Awareness of the coin is increasing, so curiosity and commodity makes that people are asking for some. Better awareness leads to better demand.

It is slowly increasing, and I somehow believe it will continue to do so until it reach a certain level - don't ask me where this level is - but I don't think hashrate has anything to do with the BTC value


Hashrate and difficulty level have a lot to do with mining equipment profitability, however. But that doesn't seem to be your question at all.

[Gorgoy]

I agree, I do not think that hashrate has much to do with the price of Bitcoin.

I do believe that hashrate will keep many people out to the mining industry and will make big miners and pools solely in control of the production of Bitcoin.

I think there are people getting into Bitcoin in order to trade it for other coins, they may not be keeping it, and as everyone knows there are not many things to buy with it. Right now deflation is taking off and the price of bitcoin is rising so people will keep and hold.

Some of the new coins coming out have a lot of potential, the Scrypt coins are what I like, I just think Sha-256 will be looked into the ASIC miner pools. I don't like that.

Thank you

[JanPaull]

Does someone thinks that new litecoin ASIC's are comming?
there is a guy in wemineltc with amasing hashrate of 2+ gigahash

[marcovaldo]

My first thought was that with the coming of those machines there are less available bitcoins

Does not make sense.
With those machines, there will be more available bitcoins, because blocks will be found sooner (before the new correction in difficulty).

[b!z]

Does someone thinks that new litecoin ASIC's are comming?
there is a guy in wemineltc with amasing hashrate of 2+ gigahash

maybe he just has many many GPUs :-)