Quote from: thoughtfan on February 10, 2013, 05:57:20 AM

Quote from: Holliday on February 09, 2013, 10:51:50 PM

Quote from: Bharel on February 09, 2013, 10:47:57 PM

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...

If ASIC are the reason it will only be because once they arrive there will be a flood of orders. Since the BTC are automatically converted to $ by BitPay, there could be a large sell of of BTC as BitPay recovers $. This could trigger more selling. If that does occur, how far do you think it will drop? My gut tells me no too far as there is a much more robust market place today and there are a lot of people that will but back in. So even after a drop it would rise again.

That's my 0.001 BTC worth.