Hello, i think asics are devaluating bitcoin and will continue to do so because they are extremely cost efficient (i mean electricity per gh). Can some1 with math skills count this: Compare the price of btc(not the 250 buble)/electricity price per gh from gpu era (until Feb 2013) to today bitcoin price/electricity price per gh from asic era.
I did that math for the current situation, using specs from Butterfly labs. Can't do historic though since I don't have the data. I came up with a value of $2.00/BC based on current difficulty and cost per GH.
I agree with your assessment by the way. Been thinking about this a lot (since I am new) and it seems inescapable that mining will always regress to cost to (cost of electricity + hardware cost + margin) with electricity being the largest percentage $ wise. There is a huge delta right now in favor of miners but it has to close through either difficulty, price or a combination of both.