Quote from: Einewton on July 07, 2013, 09:15:40 PM

Quote from: xristoskostouros on July 07, 2013, 09:11:49 PM

If those ASIC companies were never created, the coin would reach $1000 for sure. Now it cant.

I disagree with you here... The miners certainly have an effect on the price of BTC, however they don't control it. If anything, it's caused BTC to drop, and it will continue to drop even more over time, then it will come back like a Phoenix Rising from the Ashes.

I Totally agree with you in the part where the Phoenix will rise from the ashes but for this to happen, they must all stop mining, wait for the difficulty to drop, then re-start again but, will the demand rise again? Given in time, other coins may have more power e.x Litecoin, which seems pretty stable at the time.

On the other hand, if things go like it is, BTC will get centralized for sure, 100%. And yes, then its all over unless the community reacts (in teams).