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Title: [2016-03-04] The Bitcoin Halving Doomsday Scenario Post by: bitcoin-live.de on April 03, 2016, 11:11:17 AM The Bitcoin Halving Doomsday Scenario
There’s been a lot of chatter surrounding the upcoming Bitcoin halving that’s taking place roughly around the end of July 2016. One specific doomsday discussion called the “death spiral” or “halving disaster” has caused some fear within the community. https://news.bitcoin.com/the-bitcoin-halving-doomsday-scenario/ Title: Re: [2016-03-04] The Bitcoin Halving Doomsday Scenario Post by: a7mos on April 03, 2016, 11:33:20 AM I believe that halving either will take the price higher or it will remain in the same prices. but prices will not fall because even if a lot of miners stopped because the difficulty, then it will be adjusted automatically according to the new mining power. so blocks mining will not stop after halving
Title: Re: [2016-03-04] The Bitcoin Halving Doomsday Scenario Post by: Hazir on April 03, 2016, 12:23:33 PM And exactly because articles like these people are afraid of the halving and psychology of the crowd is applied.
Nothing like this scenario mentioned in the article happened after previous halvings, so why it is more likely to happen now? Title: Re: [2016-03-04] The Bitcoin Halving Doomsday Scenario Post by: TraderTimm on April 03, 2016, 04:46:53 PM First Bitcoin was a "ponzi", then it was declared "dead" a few times, then it was the block size "issue", and now its some retards hyperventilating about block reward halving.
Do these idiots just come up with any old theory to freak out about? Because this bullshit is wearing thin. There is no DEATH SPIRAL to be had out of the halving, just like the LAST HALVING. Seriously, what the hell is wrong with these people. Title: Re: [2016-03-04] The Bitcoin Halving Doomsday Scenario Post by: Denker on April 03, 2016, 05:40:38 PM Sorry but that article is crap!
Pure wild dumb speculation and bla bla bla. A completely waste of time to read! Thumbs down for that! Title: Re: [2016-03-04] The Bitcoin Halving Doomsday Scenario Post by: SaltySpitoon on April 03, 2016, 05:47:41 PM This article is pretty much exactly like what was going around before the last halving. Everyone does know that Bitcoin started with 50 coins per block, and a halving has already taken place right? Last halving, there was no major change in the hash rate, and the Bitcoin price stayed constant for a little while. That said, the price increased rather dramatically a few months before the halving.
I'd expect the same thing will happen again this time around. If I had to take a stab at it, Bitcoin price will go up within the next month in preparation from the halving. It makes common sense to people with the block reward halved, fewer BTC come into circulation every day, increase in scarcity, price should increase. They will stock up on coins like I said a month or two before the halving. The increased price will keep miners mining even after the halving, and then the price will find a normal point. The nature of ASICs in themselves makes it semi rediculous for people to believe that people will just stop mining. If you stop mining, then you just have the machines laying around. As long as their power consumption doesn't cost more than they mine per day, people are going to keep mining. Even if the network hash dropped, it would just be mildly inconvient until the next retarget. It was interesting to speculate on the outcome the first time the halving occured, but why do people believe that under the same circumstances, things will be different this time around? *edit* Just grabbed a difficulty chart from the first halving. The first halving was November 28th 2012, the chart view is September 2012 to Feb 2013 https://i.imgur.com/r8jjLRZ.png And heres the price from June 2012 to Feb 2013. I backed it up a few months so you could see what I meant about the price increase before the halving, staying pretty constant for a while after, and then the price adjusted. https://i.imgur.com/5ACgBYs.png |
