dopebroker
Short

Bitcoin's May Rebound and the release of KnCMiner's "Titan"

BITSTAMP:BTCUSD   Bitcoin / Dollar
Short until June.... It's the reality of the market right now. Low demand, China news, increasing difficulty for miners with dropping prices, regulation... these are all negatives for the currency.

KnCMiner will be releasing their Scrypt ASIC             miner entitled the "Titan." It is my belief that many of it's first adopters will begin mining with their gear on multipools which auto-sell the most profitable altcoin for Bitcoin             . With over $500 million in sales with KnCMiner the network hashrate will begin jumping immediately. Miners will begin cashing out, and the price of BTC             will jump dramatically. KnCMiner has promised a delivery time of around Q2/Q3 which leads me to believe they will push these out until the end of Q2 or beginning of Q3.

The automatic buying pressure at that time should fuel the initial run and an automatic run for Bitcoin             in the long-term until difficulty levels adjust and profits decrease.
And thus, it will be fun to watch the altcoins that have stated they are ASIC proof.
There is so much uncertainty with the altcoin market that I don't even want to speculate on the outcome and have lost money on trying.
It's like some altcoins don't care about how commodities work. They just want all their coin mined as soon as possible and are just currency driven only. Just look at fedoracoin. They are close to the halfway point on their total supply (500 billion) in only about 4 months since it's been implemented - and it's like they don't even notice this when it comes to mining difficulty. My computer can mine about 2 million coins per day - and it's still on the short end of the stick with other miners.
It really should be an eye opener for anyone who thinks about getting into the altcoin market. Which altcoin wants to be a commodity and which just want to be a whore of a currency in hopes that it will get implemented into more application markets due to it's cheap supply.
I can't wait to see how it pans out. I've been mining Ultracoin which claims has the fastest transaction time (30 second transactions). They claim they will be "CPU miner only" in the long run and supposedly don't allow ASIC's at all. So I mine it with my Xidax M-8 computer (GPU dual 290's) and hold my mined coins in hopes that this altcoin will rise due to it's resistance to ASIC's that will soon control the mining market.
Here's a good article on the messed up state of the future of the computer hardware industry. In short, GPU's get buffed. CPU's have no calling to match. ASIC's hammer the spike in the GPU market demand for mining based system and poof, GPU's demand for overclassed cards don't mesh with new computers pricing for the normal Joe Six-pack who's never heard of Bitcoin.
http://www.theregister.co.uk/2014/01/27/altcoin_gpu_market_crash_security_nightmare/

Great projection post by the way, Dopebroker!
This will definitely be interesting to watch!

Cheers,
Craig Claussen



Reply
regulation will be positive in the end. it will bring conservatives
Reply
dopebroker capoeira
That's a good point, however it falters from the original purpose of Bitcoin and I think it ultimately takes away from what it is.
Reply
capoeira dopebroker
why? regulation is not centralization.
Reply
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