Will the introduction of Obelisk devalue siacoins?

[riggermortum]

I read in a post that the price of SC will be decreased to ensure Obelisk owners get their money back quick, is this correct?

Also, with the introduction of these miners, wont this mean SC will flood the market and therefore devalue itself?

[CashCache]

Bitmain just started selling a new ASIC miner yesterday which will generate 850 Gh/s. It's about $2,500 USD with a ROI period of about 10 - 15 days! The difficulty rating will spike and put the GPU miner out of business fast. I guess if you are the one with the new miner, life is good. The rest of us, maybe not so much.

[SandBlock]

@riggermortum
SC will not flood the market.
High network hashrate = high network difficulty = same amount of coins produced before ASICS starts mining

[CashCache]

@SandBlock Just to clarify, yes, the same number overall will be produced after ASICS mining starts, but current miners can't expect to be able to mine the same amount of coins as they do now. Once ASICS mining starts, it will be useless to mine with a GPU.

Here's an example. My GPU mining generates 2 Gh/s. This produces about 30 coins per day. The ASICS miners are producing 850 Gh/s. This is more than 400 times faster than my setup. Without a difficulty increase, ASICS miners would generate 12,000 coins per day. Obviously difficulty WILL spike reducing this number for the ASICS miners to something more sane, but in doing so, will render GPU mining obsolete.

[SandBlock]

@CashCache
Yes, of course gpu will not be profitable after ASICs starts mining.