Quote from: kript0x on December 23, 2012, 05:26:14 PM

-If ASIC's come out the BTC/USD rate will drop right? Theres much more BTC available...

As others have mentioned the network hashrate is not tied to the value of bitcoin, even with the increased network power bitcoins will still be minted at the same rate. On the other hand the cost to generate bitcoins will go down and be reflected in miners power bills so who knows.

Quote from: kript0x on December 23, 2012, 05:26:14 PM

-If ASIC's are released will all the current mining equipment be worthless?

Yep, you may be able to sell your GPU's on ebay or something but they will be worthless for mining.

Quote from: kript0x on December 23, 2012, 05:26:14 PM

-If ASIC's come out, wont we hit the max BTC amount like instantly? Or will the difficulty rate be adjusted so the current projected amount of BTC will remain the same? This would fuck all the current miners even more though.

The network difficulty will adjust fairly quickly to new ASIC's. The target is 2016 blocks every 14 days and we may see those targets being achieved in 10 days for a while but it wont dramatically alter the "lifecycle" of bitcoin.

Quote from: kript0x on December 23, 2012, 05:26:14 PM

-Lets say ASIC's are out and the market is adjusted to them, would it be profitable to mine? Or should I just scratch the idea of becoming a miner and start growing some dope instead?

It will be profitable to mine, the days of miners working as a speculation have gone and the big miners keep a close eye on their bottom line (I sure do) and we will adjust our hash rates/consumption accordingly.

Quote from: kript0x on December 23, 2012, 05:26:14 PM

Thanks guys

No worries, happy to help Tongue

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