Bitcoin Forum

The production of Bitcoin has been cut in half.

Happy halving everyone!

a great time indeed for those who already have some btc holdings ..........and for those who dont ,they would better their skates on
soon buying bitcoins under $1k will be a fond and distant  memory ......4 figures here we come.....

 https://i.imgur.com/yyzpknz.png

guys chill out

if you thought that the price would jump the minute it hit block 420,000 then you do not understand bitcoin, you dont understand mining and you dont understand trading..

here is some lessons
miners cannot spend the coins instantly.. they have to mature first.
miners do not pay for electricity every hour. they pay it monthly.

so if you are expecting instant price changes today you are just fooling yourself.

give it a few weeks-month for miners to actually experience a decrease in their income when they actually start to pay bills.
just like the last halving.. miners did not really see a change in their spending until the chinese new year ended and the bills started piling up when things went back to business..

it will not be an instant thing, it takes time for the real world to see the effects

One thing's for sure: bitcoins are now relatively more scarce. You can draw your own conclusions as to how that should affect the price.

Yes we have halving day today at already it happened now reward for mining will be 12.5 onwards. Reward is halved instantly however we have to wait to see actual movement in price for next few weeks or even months. If none of the miner's left mining, price can go up but not today or tomorrow it will take some time to see price movement.

Nothing will happen for a while. I don't think it will reach 1000+ for a while.

But its pretty awesome that the rate of Bitcoin production is cut in half now.

Yes, that explanation makes the most sense to me.

Also, there is a LARGE stock of Bitcoin out there, I do not think that a relatively minor (in the short-run) trimming of BTC supply is going to matter at least for a while.

As time goes by, and if demand for BTC picks up, then we will likely see something grander...   :)

cant wait to see the impact this will have on the price over the next six months, although i think it has already been priced ini.  evern if it drops thats just another reason to buy mor bitcoin

In an ideal world, everyone who currently owns bitcoin would hold them and when any new buyers come into the market the price is going to be higher than what we have now. Obviously we dont live in an ideal world and lots of people who currently hold will dump but the main contributing factor is going to be new users coming in and buying, And with the supply halved now price should slowly rise as adoption increases and more and more people start using bitcoin as the new gold.

Thanks for some logic in here. First post I see making some sense ^.^

you realize that bitcoin is programmed this way even if hash rate increases 1000 times fold still you will get the same amount of bitcoin.
So one can easily estimate and calculate the price in average with -/+$20. how ever there are some panic selling right now so we
Have to wait and see if they stop to sell only then price jumps more and more by the hour.

Yes, people are so crazy, one whale can make huge thing today.
Price is actually increasing few months already i do not think it will be much higher than 800USD

One thing for sure is there are less Bitcoin for sale. If price not changed, miner have to sell the coins they mined last year, the year before. Eventually, less miner will be in business.

Well, when that happens, we won't be able to move bitcoin from address to address right? Since those takes blocks to solve. Correct me if I"m wrong.

Congrats on 8 years of smooth sailing. Looking forward to the 10 year anniversary.

I think they are not ready to sell it right now because they are expecting more for their bitcoin and i think the price of bitcoin sooner will increase and it should be hit at 700 above to 900 value..  because more buyers will come..

No, you are wrong. It will change the confirmation time but you will always be able to spend your bitcoin (the unique thing that it will change is the conf. time and the fee to pay).

If miners stop mining the difficulty will go down and the same number of blocks will be mined everyday.
So transactions will still get processed and BTC will still be around.

I'm looking forward to seeing the impact of this halving. whose expectation will be right? oh this is so fun in one side.

just get ready with your bitcoin people. stay holding your bitcoins and see what will happen. halving is here!

Impact of halving (as most people refer, price of BTC as the only factor that really matters in the end) will be reflected months after actual block reward drop.
I am more interested to see how halving will impact 'cloud mining' companies. Will it be easier to tell the difference between fake from legit ones after it?

We are at the beginning of the month and bills are already paid

Don't expect jumps until end of month/quarterly payments start rollin around

We are in early H2-2016, so not seeing much til new year would not be surprising either as that hits month/quarter/bi/yearly, all on one day

That said.. happy halving. Be smart and don't fall for traps

Don't think the difference between legit cloud mining companies and scam cloud mining sites will be any different because of the halving. In fact, scam sites can now keep their site running, and thus scamming for a longer period of time as they only have to pay out half of what they used to pay out.

a few scam sites may use this as their "legitimate" reasons to *cough* go bankrupt *cough*
ofcourse they would wait a couple months to grab a little extra scammed funds and then disapear

Why should I be happy? Why the halving should make me happy? I saw some people (maybe VIP) in LA celebrating the bitcoin halving, is it really needed? I saw a drop on bitcoin price then went back to normal but we can't see immediately the effects.

thats right! plus the only thing can happen in a few days is a pump from enthusiast or even a whale shake up as usual ! ^^

The halving has done it's job in the growth of bitcoin. With the REAL drop in supply, we would expect a gradual increase in price in the coming months to attain the equilibrium again. I heard the cost per coin for miners was about $300 (@25BTC/block) and so with the reward halving they are still profitable.

lol.. the cost was not $300 in the last 6-12 months

thats what u been told for reasons to falsely suggest that the halving has already been "accounted" last year.

i would like you to ask anyone currently mining if they were making 200% profit. or were just gonna break even over the last 6 months

A lot of people mining barely break even. I bet a lot of miners are now HODLING until the price goes up some more.

No one, and I mean NO ONE is making 200% profit.

yeah i think the increase of price is to be obvious as now the bitcoins are more limited and harder to mine and the mining rewards are half ! so it is now more worth :)

why even argue about miners when there is no clear information about how much they are making after their costs.

all that is important is that mining farms are continuing to mine and they don't seem to mind anything and it is only the users of this forum who are so nervous about miners and their profits.

It's logical yeah.
But the problem is that bitcoiners might not be so numerous. .. or at least not enough to prevent some unlogic movements due to global fud !

to bad price doenst seem have a plan to go up yet so for those who dont they still have the chance to invest i guess? but who knows what will happen to the bitcoin price looking forward

Happy halving to everyone!
Now now, it's only been a few hours since we've had the halving so it's only quite clear to not expect anything to happen just yet. Don't lose heart. Something will happen eventually. Miners wouldn't be given justice if the value just keeps on it's current rate.

Something will happen, some will say that it was because of the halving even if it's not related at all. The halving may be a big deal for miners, but I doesn't have to affect the whole Bitcoin ecosystem.

You are right. The price went up for almost a year. It's not time to for the price to get to stability.
if the price goes up just consider it as an extra.