Post
Topic
Board Beginners & Help
Re: Newbie wondering about the market value
by
thoughtfan
on 10/02/2013, 05:57:20 UTC
Next thing i see, is speculated drops because of the ASIC units.

I wouldn't worry much about that simply because it doesn't make any sense.

Don't get me wrong, there will be drops. I just don't think ASIC mining is a valid reason.
It concerns me a little when I hear novices say 'the price did x because of y'.  One conceptual tool you could do well by bearing in mind when you're reading this forum (and in life in general) is 'Correlation does not imply causation'.  Sorry if that comes over as patronising but it's a powerful concept.  People ascribe all kinds of causes to what has happened and what will.  Nobody can disprove their theories but if they are trading their beliefs when they're wrong and the price moves differently to what they predicted...