Block split - 25 - 12.5

[inBitweTrust]

Not a think will happen directly related to block halving.

Feather coin and Vertcoin wanted to do the same by changing their algos to disable ASIC from mining these coins. The entire idea was to limit supply and guess what, nothing happened, the price even went down.

Non sequitur.

What does disinflation and changing the algo to become ASIC resistant have to do with each other?

[crazyearner]

Next block split to 15 BTC per block is going to be fun times and will be interesting to see if price goes anywhere in the up movement. If it doesn't then no doubt a BTC clone will come along and dominate the markets and theirs a real good change of something knocking bitcoin off the top

[goosoodude]

I agree that there will be rise in price at the halving. And I'm not saying this following example will happen, but it could easily.

Example: The price may go down to $175 or so again (that already happened this year so far) or lower, and the price could then rise to $200 at the time of the halving, which even though it went up, it's actually down from now.

Personally, I'm not that pessimistic. I think the price will go up more in the future, but no one knows for sure, and it's just as easy the example above would happen instead.

It's a little more complicated than that - but in order for miners to remain profitable they would require the price to go up (i.e. they would only sell at a higher price). This would tend to create a scenario where you only see trades at higher prices and therefore would expect higher prices. However, if for some reason there is little demand, and the price falls/stagnates you would instead see that some miners would turn off their mining operations as it is no longer profitable - thereby reaching an equilibrium.

I am going to go out on a limb and say that the miners account for a pretty small share of the amount of bitcoin traded on exchanges so the "fact" that miners do not want to "sell at low prices" is not going to prevent the price of bitcoin from trading at a "low" price

[notlist3d]

I agree that there will be rise in price at the halving. And I'm not saying this following example will happen, but it could easily.

Example: The price may go down to $175 or so again (that already happened this year so far) or lower, and the price could then rise to $200 at the time of the halving, which even though it went up, it's actually down from now.

Personally, I'm not that pessimistic. I think the price will go up more in the future, but no one knows for sure, and it's just as easy the example above would happen instead.

It's a little more complicated than that - but in order for miners to remain profitable they would require the price to go up (i.e. they would only sell at a higher price). This would tend to create a scenario where you only see trades at higher prices and therefore would expect higher prices. However, if for some reason there is little demand, and the price falls/stagnates you would instead see that some miners would turn off their mining operations as it is no longer profitable - thereby reaching an equilibrium.

I am going to go out on a limb and say that the miners account for a pretty small share of the amount of bitcoin traded on exchanges so the "fact" that miners do not want to "sell at low prices" is not going to prevent the price of bitcoin from trading at a "low" price

I don't know if i agree completely. Yes pools do get some miners fee's etc.  But even the big mining corporations have to sell on a exchange or direct to pay their bills.   Large corporations and a lot of home I see at least electricity amount of BTC being sold.   Which is a lot of btc with the big companies out there.

[fryarminer]

I agree that there will be rise in price at the halving. And I'm not saying this following example will happen, but it could easily.

Example: The price may go down to $175 or so again (that already happened this year so far) or lower, and the price could then rise to $200 at the time of the halving, which even though it went up, it's actually down from now.

Personally, I'm not that pessimistic. I think the price will go up more in the future, but no one knows for sure, and it's just as easy the example above would happen instead.

It's a little more complicated than that - but in order for miners to remain profitable they would require the price to go up (i.e. they would only sell at a higher price). This would tend to create a scenario where you only see trades at higher prices and therefore would expect higher prices. However, if for some reason there is little demand, and the price falls/stagnates you would instead see that some miners would turn off their mining operations as it is no longer profitable - thereby reaching an equilibrium.

I am going to go out on a limb and say that the miners account for a pretty small share of the amount of bitcoin traded on exchanges so the "fact" that miners do not want to "sell at low prices" is not going to prevent the price of bitcoin from trading at a "low" price

Actually the fact is that by the time the halving comes a lot more people will be trading Bitcoin. The fact that only half the new coins will be entering circulation will force what could be double the scarcity.

I think that now we are still early adoption as far as Satoshi's original plan. Enough Bitcoin to go around and few people using it. The next halving will actually cause the scarcity to start being felt.

[goosoodude]

I agree that there will be rise in price at the halving. And I'm not saying this following example will happen, but it could easily.

Example: The price may go down to $175 or so again (that already happened this year so far) or lower, and the price could then rise to $200 at the time of the halving, which even though it went up, it's actually down from now.

Personally, I'm not that pessimistic. I think the price will go up more in the future, but no one knows for sure, and it's just as easy the example above would happen instead.

It's a little more complicated than that - but in order for miners to remain profitable they would require the price to go up (i.e. they would only sell at a higher price). This would tend to create a scenario where you only see trades at higher prices and therefore would expect higher prices. However, if for some reason there is little demand, and the price falls/stagnates you would instead see that some miners would turn off their mining operations as it is no longer profitable - thereby reaching an equilibrium.

I am going to go out on a limb and say that the miners account for a pretty small share of the amount of bitcoin traded on exchanges so the "fact" that miners do not want to "sell at low prices" is not going to prevent the price of bitcoin from trading at a "low" price

Actually the fact is that by the time the halving comes a lot more people will be trading Bitcoin. The fact that only half the new coins will be entering circulation will force what could be double the scarcity.

I think that now we are still early adoption as far as Satoshi's original plan. Enough Bitcoin to go around and few people using it. The next halving will actually cause the scarcity to start being felt.

Well the coins that are already in circulation (the coins that have already been mined) will still be available. The number of additional coins potentially available for sale per day will obviously decrease, however I don't think that in itself will cause the price of bitcoin to rise.

I don't think Satoshi necessarily planned for bitcoin to evolve in any certain way as far as user adoption is concerned. He did setup block subsidies so that the miners would get primarily block subsidies early on and little tx fees, then tx fees will make up a larger portion of the total block rewards as times going forward, however as it stands now by the time the next block subsidy halving takes place, when compared to the total block reward, tx fees will be a very small portion

[mrhelpful]

I`m worried less on the halfing but more on the whole part with what im about to say.

"Bitcoin Core has no code in it to handle a permanent and growing transaction backlog. "

what happens when transactions are super slow as fuk, hence a ultimate incident way back when.

[philipma1957]

I`m worried less on the halfing but more on the whole part with what im about to say.

"Bitcoin Core has no code in it to handle a permanent and growing transaction backlog. "

what happens when transactions are super slow as fuk, hence a ultimate incident way back when.

transaction fees will rise and block size will expand .  no other solution works.

transaction fees are the only way to kill off spam transactions. 

[HerbPean]

I`m worried less on the halfing but more on the whole part with what im about to say.

"Bitcoin Core has no code in it to handle a permanent and growing transaction backlog. "

what happens when transactions are super slow as fuk, hence a ultimate incident way back when.

transaction fees will rise and block size will expand .  no other solution works.

transaction fees are the only way to kill off spam transactions.  

The fees are indeed super cheap at the moment. Throw 1$ in fees for your transaction and it will confirm quickly.

I'm not so familiar with all the technicality of expending the block size and not so sure about why it is so controversial.

Pushing the upper limit of the block to 8mb doesn't mean each block will use it all.

As for the price rise, BTC's first price was based of the cost of mining one BTC with CPU back in the time. Since bitcoin now can easily be acquired by other means then mining it, this is hard to tell for sure how much influence it will have on the price.(The halving) As someone said before. Offer and demands normally rules the price but in this case, since all the miners introduce fresh money, I think it will push it up.

Let's see how the LTC react until his halving. For now, the price is just insanely going up. Pretty sure a massive sellout will come around the corner. I'm no specialist at all in economics, so this is only my 2 cents but the price has to go down and correct himself for sure ... But who knows ! The price will go up until the demand is high and it looks like the halving has something to do with the current insane uptrend.

Then the I" wish i knew and bough 50000$ LTC at 1.25$" (or whatever low price it was like 5-6 weeks ago)