My gut feeling is that the proliferation of ASIC rigs will put downward pressure on the price of BTC, and that the price of BTC is artifically inflated by people hoarding them and the difficulty of getting fiat money into markets.

Perhaps it would be best for Bitcoin and would increase their utility if the price fell to $10 or $20 but with less fluctuation, and at some point  the sum of the tx fees in a block will be greater than the new coins generated.

What are your thoughts and does anyone have an economic analogy to explain what you think will happen with bitcoins and mining?


First Post!!   and thanks for your time.