Thank you Coinlab for your efforts at clarifying this confusing time.
One more annoying question: Is there a deadline to using up my loyalty points? will they simply expire at some date if I haven't used them all yet?
-----------------
aside
This is kinda exciting/fun trying to figure out if I should wait until asics start up and drive the difficulty through the roof, or should I use up my points asap to get more bitcoins per dollar (if you were to speculate that the price of bitcoin is going up)
personally, I think the price will continue to slowly trend upwards with some rapid rises followed by corrections, perhaps $15 by summer 2013? maybe $20 by next winter?? right now I'm working under the assumption that unless the price were to hit triple digits in the near future, I will be better off waiting for the impending difficulty surge and cashing in my loyalty points at that time.
One more annoying question: Is there a deadline to using up my loyalty points? will they simply expire at some date if I haven't used them all yet?
-----------------
aside
This is kinda exciting/fun trying to figure out if I should wait until asics start up and drive the difficulty through the roof, or should I use up my points asap to get more bitcoins per dollar (if you were to speculate that the price of bitcoin is going up)
personally, I think the price will continue to slowly trend upwards with some rapid rises followed by corrections, perhaps $15 by summer 2013? maybe $20 by next winter?? right now I'm working under the assumption that unless the price were to hit triple digits in the near future, I will be better off waiting for the impending difficulty surge and cashing in my loyalty points at that time.
There is a two-year expiration date on loyalty points from the time we cross below the price floor. Because the crossing of the threshold was caused by the block reward halving, Loyalty Points will expire two years from today - 11/28/2014.
Interesting aside.
If I had Loyalty Points, I would probably wait until ASICs hit if I was still mining profitably. However, if I was planning on ebaying my GPUs before they become depreciated from obsolescence, maybe squeezing them for all they got as fast as possible is the way to go. Tough call. I'd love to hear more about other people's strategies.