Re: With BTC at an all-time high (what's new), whats the demand for?
I assume any smart miner will stack his newly acquired asic mining coins and not cash them out every day upon payment. If anything the new asics will raise the price, because more people will believe in mining and get into it, and they'll do that by buying BTC and then spending them on miners, especially if Avalon only takes BTC!
You can be right - but this is a statement based on a scenario - on the scenario that miners will save / hoard their bitcoins. IMHO this has many ill effects. Whether or not you (hypothetical) as a miner will sell your produced bitcoins, there will be a miner who will.
My personal insight regarding my mining output and other miner's outputs is sell like crazy when bitcoin is as expensive as it is today. Not only is this happening, but it SHOULD happen. Miners are there to make sure that the price of bitcoin doesn't spiral out of control. They're also there to make sure bitcoin is trading at a fair price. At the end of the day, honest miners need to pay for electricity. Electricity payments aren't accepted in bitcoin - yet.
Its not like mining is something new, people are mining everyday and some like you said, are cashing out to cover the bills. But why would the ratio of cashing out change? I dont see the new rigs being able to create a sell frenzy. You may think this is a good time to sell while others disagree. This is all pure speculation all based on our "in-mind" scenarios but the fact remains that if more and more people get into bitcoins then supply and demand will come into play like it is now and the price will steadily rise to numbers we could only imagine. Here's to wishing!
