Bitcoin mining 2600k
Quote: Originally Posted by Syan48306 Killing the GPU mining could have one of two results, kill interest in bitcoins and cause prices to drop or the difficulty bump will cause prices to skyrocket.
I wouldn't expect either.
Practically speaking, GPU mining "died" a while ago with the introduction of the first ASICS.
You can still mine with GPUs, but not profitably or practically (used to mine with two 7970s--after a while I was just wearing the GPUs out, along with the electric bill).
Interest in BTC won't drop until it's no longer a viable currency.
ASICs have reduced the pool of people profiting from mining significantly, but the smaller percentage that have invested in dedicated hardware can still try to generate a net profit until the next generation of ASICs come out.
There will always be a market for "get rich quick schemes" and "make money from doing nothing, " even if the methods aren't worthwhile or practical.
As for prices, they can't sky rocket if no one has BTC; in order to keep an all-digital currency going it has to actually be in use, which means trading has to keep occurring/prices have to remain affordable on some level, or the market disappears with a few people hoarding myriad BTC they can't use.
Since more and more BTC will be in circulation with each difficulty pump, that alone isn't reason to suspect a significant increase in price.
What'll be interesting is what impacts governments will have on BTC, since many of them are trying to get (more) involved.
Source: www.overclock.net
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