Quote from: kendog77 on May 20, 2013, 03:17:02 AM

Quote from: mgio on May 20, 2013, 03:06:43 AM

Quote from: kendog77 on May 20, 2013, 02:48:40 AM

Quote from: mgio on May 20, 2013, 02:21:05 AM

Quote from: Gamah on May 19, 2013, 11:02:46 PM

Quote from: TheOrri on May 19, 2013, 10:28:55 PM

Quote from: Gamah on May 19, 2013, 09:50:13 PM

And increating the hash rate doesn't increase the demand?

Increasing the Hashrate will increase the supply which normally lowers prices, but as bitcions are accepted at more places everyday, demand increases which has an upward effect on the price.

No, I'm pretty sure the difficulty adjustment is to secure the supply at a fixed rate, it's built that way.

I still stand by my hypothesis that more hash rate means more demand because there are more hashes (depend) being put into each block found... thus making each bitcoin effectively more scarce... While the rate of generation is constant, the effort put into them is far greater.

Where block/hour remains fairly constant, hash per block goes up.

Difficulty 10,000,000.

~90Thash (pulling numbers out my ass) = the preferred 10 mins/block

where at difficulty 50,000,000

450 Thash = 10mins/block

When you break it down, each has nets you less of a bitcoin... irregardless of power usage/efficiencies. That alone I do believe (especially considering the numerous users who don't even mine, but just trade BTC) will drive the overall price of BTC up.

Why do you think effort put into mining a bitcoin has anything to do with it's price??

It's the other way around. Higher prices mean mining is more profitable so more people will mine. It's the other way around.

Plus bitcoins aren't more expensive to mine now. A 65 gh/s cost $1500, that is equivalent of a GPU that does maybe 4.5 gh/s. Mining has gotten cheaper, not more expensive.

Please show me where I can order a 65 GHs ASIC miner for $1500 that will ship immediately? In order to secure a 65 GHs ASIC miner at the moment, I think it will cost you 250 BTC (5 blades * 50 BTC each = 65 GHs for 250 BTC = $30,000 USD)! Shocked

You can't buy it because you missed out. When Avalon ships batch 3, there will be 100 TH/s of Avalon machines out there.

Or you can buy discrete Avalon chips for about $9.50 for 282 Mh/s. That is $2200 per 65 GH/s. Even taking into account cost of the PCB and power supply, that is still in the same range.

Or you could have ordered BFL for about $1300 / 60GHs.

ASICMiner is more expensive, but it's only for the people who have missed out. Their prices will come down when the Avalon chips ship and you see DIY Avalon machines anywhere.

Bullshit.

Avalon batch 3 isn't shipping yet, and they cost 75 BTC (~$9000). Given that batch 2 is just now shipping, it looks like batch 3 owners still have to wait a few weeks.

It is a big jump from buying discrete Avalon chips to getting a working ASIC miner. Has anyone actually done this yet besides Avalon? I think not.

BFL has yet to ship a 60 GHs machine to anyone. As far as I know, all they have done is shipped a handful of 5 GHs machines.

It's not as hard as you think to make an ASIC miner with Avalon chips. And a lot of people are working on it.

Once Avalon batch 3 ships and BFL begins to ship in quantities, and ASICMiner deploys the 200TH/s worth of mining equipment they have, you'll see ASIC prices come way down because it won't be profitable anymore. GPU mining will be long dead by then. As dead as CPU mining has been for a while now.