Post
Topic
Board Economics
Re: Bitcoin Price Drop
by
defxor
on 03/08/2011, 23:47:34 UTC
Correct, so even if your mythical ASIC miners are willing to sell at $2 a bitcoin, doesn't mean anyone else will be

Mythical? You do know that there's at least one person using ASICs since several months back - just as he began using GPUs before everyone else?

Anyway, I don't know why you believe Bitcoin wouldn't follow free market rules but the answer is that it would indeed cause a downwards price pressure.

Quote
Did the price crash when ppl started using GPUs?

Back then people weren't as price obsessed (may - sept 2010)

http://bitcointalk.org/?topic=1009.0

edit: That is, you cannot see anything in the charts to state either way. http://bitcoinx.com/charts/