...Cutting production (per block) in half, while cost of production (per block) remains the same, could make mining unprofitable, unless the price rises.
..but it doesn't actually affect the price per se. Mining becomes unprofitable, hashrate falls, difficulty falls. The price drives this action, this action doesn't drive the price. Aggregate demand is always key to price changes, and it dances mainly to other tunes. Not directly (that's the reason I rephrased my statement earlier). But I believe it does, indirectly. Maybe some miners will be forced to shut down their mining equipment, others could mine at a loss and HoDL their coins, all sorts of complex things can happen, that will be triggered by the halving event. History has shown that each halving has been followed by a huge price rise (even after you iron out the volatility). It may not happen instantly, but history shows that it will happen. Of course, we only had 2 halvings, so there's not much data to work on. Time will tell. And soon. A relevant quote: " The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more." -- Satoshi Nakamoto Edit: Merry Christmas everyone! Yeah, right, show me any currency that "gravitate toward the production cost". |
|
|
|
Well, supply will be cut in half, and unless you also believe that demand will be cut in half at the exact same time, price will rise. It's really that simple.
Nope, sorry, I can't see it that way. If it were so, the chart would show a step change in price at the point of halving. Demand is to a large extent already discounting (anticipating) future events, because it is so tied up with speculation. The flows and changes are complex. That's the reason you often see an opposite reaction ( to that expected) when an anticipated price sensitive event happens. edit : Merry Christmas !! Well, that's econ 101, no matter how you see it. No one ever said that the price would go up the second the halving occurs, that's not how the economy works, there will be other factors in work as well, but they have no long term effect. |
|
|
|
Back home now from Xmas dinner and present giving. I must have been good cause I got a thousand dollar check for Christmas. And a book and a box of chocolates and a lot of cat food and a hot air fryer that was on sale and some other stuff.  No, it wasn't just me and Santa, the rest of the family is out of the picture for reasons. I hope you also got some good stuff from underneath the Christmas tree, and I wish you all a Very Merry Christmas. |
|
|
|
I read your post as being exceedingly cautious, Majormax, and you already likely recognize that I continue to believe that there is a bit more underlying buying pressures than the amount that you seem to be willing to accept present. Furthermore, supply is a pretty damned underlying force, whether you want to categorize it as "secondary" or not... supply is a kind of hard pressure that inevitably ends up biting the bears in the ass.. especially any of them who under estimate its power, after they are manipulating down for much longer and much lower than can be contained and ends up resulting in a lot of irrational and uncontainable upwards FOMO buying... which is likely going to be another history that repeats itself... surely not guaranteed in any kind of way, but a seeming likely outcome... time and degree to be determined.  You are quite right. I think it wise to be cautious. I wouldn't categorise supply as a 'force', but demand acts more like the pressure. If you had to say which was more active and which more passive, how would you label them ? Supply is more a variable which is acted upon by demand, and I suppose that is my point in saying that the effect of halving is not a given. Only when demand is absolutely assured and permanent does supply become the active variable. Well, supply will be cut in half, and unless you also believe that demand will be cut in half at the exact same time, price will rise. It's really that simple. |
|
|
|
They also like clothes or new shoes perhaps. Is she a boots kind of woman? Nice, fluffy winter boots.
Now I have a question for you:
In Belgium, do you guys have Belgian Waffles, or do you just call them "waffles"?
We have Brusselse wafels, Luikse wafels and in Holland they have stroopwafels Actually more interesting.... why call it French fries when it’s a Belgian thing???  Americans confuse European things often. e.g. Brussel sprouts originate in the Mediterranean not Brussels. Americans thinking that Deutsch (German) is the same as Dutch because the words are similar (in fact the origin of the word Dutch comes from some confused people calling it Deutsch). Etcetera. Deutch-Dutch..... Die Gesundheit - de gezondheid......Die Regel- de regel......die Geduld-het geduld......Der Speigel-de spiegel.......Schaden=Schaden.... . .warum-waarom........reisen-reizen.....vor-voor...der Artz-de arts.......................... .die Geduld-het geduld...der Lohn-het loon....dankbar-daankbar...der Tag-de dag...... . Geheim, morgen, weg, hallo the same and many more. Deutch is dutch fahrvergnügen.....farfegnugen Deutsch is English |
|
|
|
Caught "The Rise of Skywalker" last night with Rick. It was like watching two and a half hours of shit being smeared all over my eyes.
I get more excited watching The Mandalorian E7 tonight at home than The Rise of Skywalker in the cinema. Truth. The story 'arc' with some tightening up on some stuff to make it a 2-hour movie would, IMHO, have done a lot better than the last 2 star wars movies just saying. Not sure it was worth the $69 a year price I paid, I can find NOTHING of any real note on the site to watch besides the Mandrian...thus a loss of $$$. Have the exact same problem with CBS Access and Star TreK: Discovery as well. Sh*t. Well at least with Picard that will be 2 shows I can watch on the CBS Access site. It is like commercial T.V. is not even trying anymore to make quality products, only if you subscribe can you see anything good now it seems. Mandalorian season 1 contains 8 episodes to watch, last one will be aired 27 Dec. Season 2 next year, al lot of countries still waiting for Disney+. It was not needed to sub for 12 months if you only want to follow The Mandalorian, cancel Disney+ sub after episode 8 and resub when season 2 starts. I could've taken the advantage trying Disney+ for 1 week and watch season 1 in one go on a sunday evening for just 1 cent. -lol- There are so many streaming services these days, each one which there own originals just like the newest Star Trek: Picard on CBS. (release date is January 23) Subscribe when the season starts and unsub when it ends, so you can replace service A to B. This is what i always do. On the side note, The Mandalorian is already so succesfull that Disney considering the possibility of a Mandalorian movie. It would be something if it gets more populair than the original Star Wars movies.  Or you could do what I do, watch for free. Most movies and series can be found here: https://nyafilmer.to/the-witcher/And what nyafilmer.to doesn't have this one will: https://gostream.site/fantastic-beasts-and-where-to-find-them/And what you can't find at those to places can hopefully be found here: https://ww.123movies.al/movie/predator-world-2017/Yes, there will be annoying stuff popping up before you can start the movie, but I can live with one second or so extra clicking if it's free. You're welcome. |
|
|
|
They also like clothes or new shoes perhaps. Is she a boots kind of woman? Nice, fluffy winter boots.
Now I have a question for you:
In Belgium, do you guys have Belgian Waffles, or do you just call them "waffles"?
We have Brusselse wafels, Luikse wafels and in Holland they have stroopwafels Actually more interesting.... why call it French fries when it’s a Belgian thing??? Americans confuse European things often. e.g. Brussel sprouts originate in the Mediterranean not Brussels. Americans thinking that Deutsch (German) is the same as Dutch because the words are similar (in fact the origin of the word Dutch comes from some confused people calling it Deutsch). Etcetera. Well, since it's called brussel sprouts in Sweden as well, it can't be an american thing, so I took a minute of my life to actually look it up. From Wikipedia. "Etymology Although native to the Mediterranean region with other cabbage species, Brussels sprouts first appeared in northern Europe during the fifth century, later being cultivated in the 13th century near Brussels, from which they derived their name.[1][2]" |
|
|
|
Now where will I go to cry and do meth comfortably?? J/K, I don't have a job. I like how it says "main benefit is to employees in improved productivity." That's not a benefit. Its a detractor. Seriously. Fuck the rat race, if you can. You only have one life to live. Don't spend it being a slave, even if it means giving up certain comforts. If you can't get out of it now, set yourself up so you can later. So true, you just earned yourself my last merit. |
|
|
|
Nah, capitalism and free market will very soon produce a portable ad on that makes the seat level again. |
|
|
|
Don't take it too seriously, when I say "I'll cut you" or I"ll beat you"
or call you "pedo guy"? I haven't called anyone that. Yeah I know, "don't take it too seriously" just sounded like Elon's recent defense. don't take it too seriously Ok I see, I won't then. |
|
|
|
Well, looks like the Brit gits are about to commit economic suicide. Thank heavens there is bitcoin so the people can exchange their worthless "pound" for something that will have value.
I'm going to enjoy watching this unfold.
Only in the short term. In the longterm EU Is gonna perform a lot worse. It's a sinking ship and leaving can bring some turbulance. But once you save yourself and you reach the shore of an island you can start a better life. Now you are making sense, gave you a merit for that. I strongly believe that England will come out of this as the winner. They can now start to build an alternative free trade area witch will be muck bigger than the EU, Just like they once created EFTA. |
|
|
|
Don't take it too seriously, when I say "I'll cut you" or I"ll beat you"
or call you "pedo guy"? I haven't called anyone that. |
|
|
|
 loggers tasked with cutting down trees for the issue carved the Amazon rainforest into a beautiful message. They carved swathes of forest down into Greta Thunberg's face and the words "How Dare You." The epic answer to Thunberg's critics is visible from space. |
|
|
|
A bit slow here right now, so here's a weekend race on a frozen lake called "Speed Weekend on Ice" in northern Sweden. Basically, people show up with a vehicle of their choice and race. Here's a jet powered kick sled. https://youtu.be/jKAROcrX5Wg?t=1352A jet powered snowmobile, and much more https://youtu.be/jKAROcrX5Wg?t=607Edit: the name of the event. |
|
|
|
I know absolutely nothing about computers, but if your problem is that your old machine isn't compatible with a new computer, why don't you just buy an old computer on Ebay?
Micro$oft end of support for Win7 eminent.
Handy to have internet in the shop for looking up specs, constants, formulas and whatnot. No room or patience for 2 machines out there.
I have piles of old machines, win7 is soon not internetable aaaaaaaaaaaaaaaaaaaaaaand, the parallel port driver sends Win10 into a boot loop...fml But why do you need support if you are just going to run a CNC machine? Or am I missing something? |
|
|
|
I'd rather beat him up, that feeling is quite nice too.
In the office? At the meeting? Nice to dream about that, but in RL this never was an option. I had bad luck with violence from the start, so i avoided it. In school, two guys were mobbing me, so i hit one guy with the back of my hand full-on and his nose started to bleed like mad. Then the teacher made sure i was kicked out of school. Lesson learned (but i never mobbed anyone, later on). Don't take it too seriously, when I say "I'll cut you" or I"ll beat you" its a symbolic threat made to show my resentment of the person it's aimed at. I'm not actually going to look up JJG in the phone book and come to his house. |
|
|
|
I'd rather beat him up, that feeling is quite nice too.
In the office? At the meeting? Nice to dream about that, but in RL this never was an option. I had bad luck with violence from the start, so i avoided it. In school, two guys were mobbing me, so i hit one guy with the back of my hand full-on and his nose started to bleed like mad. Then the teacher made sure i was kicked out of school. Lesson learned (but i never mobbed anyone, later on). I was thinking at the 100k party. |
|
|
|
|
I'd rather beat him up, that feeling is quite nice too.
|
|
|
|
|
I know absolutely nothing about computers, but if your problem is that your old machine isn't compatible with a new computer, why don't you just buy an old computer on Ebay?
|
|
|
|
[edited out]
That list could not be complete (which you said). Missing the largest one (or most scandalous one of 2019), Quadrigacx, no? And of course there is BTC-e and WEX in 2017/2018. Edit. Xhomerx10 beat me, partly. I will gladly beat the parts he missed. EDIT: gladly |
|
|
|
|
Show Posts
