What do you expect from the halving in 2016?

[odolvlobo]

Another trick question:

Why do some people insist that the supply of bitcoins will fall at the halving, when the supply of bitcoins will actually continue to rise at the rate of 75 per hour.

[Sarthak]

Another trick question:

Why do some people insist that the supply of bitcoins will fall at the halving, when the supply of bitcoins will actually continue to rise at the rate of 75 per hour.

Sounds Interesting! How does that happen?
The numbers of miner will increase or..? 

[RappelzReborn]

What do you expect from the halving next year regarding price development of Bitcoin?

Currently, the price is very stable although there are created around 3k new Bitcoins every day. In my opinion, the price stability results by a constantly increase of demand. When the supply will be halved in 2016, the price should be grow linear if the current demand stays the same.

What do you think?

I always expect the worse! Bitcoin will die and we'll switch to a new cryptocurrency!

I don't think so , Bitcoin is original and basically all the other cryptoo currencies are some cheap copies of Bitcoin .
So unless someone comeup with a new idea better then Bitcoin and not just a copy of it ... no one is going to switch anything with anything else.

[Amph]

Another trick question:

Why do some people insist that the supply of bitcoins will fall at the halving, when the supply of bitcoins will actually continue to rise at the rate of 75 per hour.

i believe they are just talking about the mined supply, not the actual total supply

Another trick question:

Why do some people insist that the supply of bitcoins will fall at the halving, when the supply of bitcoins will actually continue to rise at the rate of 75 per hour.

Sounds Interesting! How does that happen?
The numbers of miner will increase or..?  

are you serious, he is talking about the total supply, we are around 14M now, it's obvious that it will keep rising until 21M...

[Sarthak]

What do you expect from the halving next year regarding price development of Bitcoin?

Currently, the price is very stable although there are created around 3k new Bitcoins every day. In my opinion, the price stability results by a constantly increase of demand. When the supply will be halved in 2016, the price should be grow linear if the current demand stays the same.

What do you think?

I always expect the worse! Bitcoin will die and we'll switch to a new cryptocurrency!

I don't think so , Bitcoin is original and basically all the other cryptoo currencies are some cheap copies of Bitcoin .
So unless someone comeup with a new idea better then Bitcoin and not just a copy of it ... no one is going to switch anything with anything else.

I don't understand what you mean by Bitcoin is original! Bitcoin wasn't the first cryptocurrency!

Here's a paragraph from Wikipedia!

In 1998, Wei Dai published a description of "b-money", an anonymous, distributed electronic cash system.[17] Shortly thereafter, Nick Szabo created "Bit Gold".[18] Like bitcoin and other cryptocurrencies that would follow it, Bit Gold was an electronic currency system which required users to complete a proof of work function with solutions being cryptographically put together and published

Edit:

are you serious, he is talking about the total supply, we are around 14M now, it's obvious that it will keep rising until 21M...

I'll tell you what I understood and what I didn't!

What I understood:
1) The mining reward halves in every four years!
2) I know we've reached 14M coins!

What I didn't understand:
How will 75 coins increase per hour when the reward will decrease by a half?

[Amph]

What do you expect from the halving next year regarding price development of Bitcoin?

Currently, the price is very stable although there are created around 3k new Bitcoins every day. In my opinion, the price stability results by a constantly increase of demand. When the supply will be halved in 2016, the price should be grow linear if the current demand stays the same.

What do you think?

I always expect the worse! Bitcoin will die and we'll switch to a new cryptocurrency!

I don't think so , Bitcoin is original and basically all the other cryptoo currencies are some cheap copies of Bitcoin .
So unless someone comeup with a new idea better then Bitcoin and not just a copy of it ... no one is going to switch anything with anything else.

I don't understand what you mean by Bitcoin is original! Bitcoin wasn't the first cryptocurrency!

Here's a paragraph from Wikipedia!

In 1998, Wei Dai published a description of "b-money", an anonymous, distributed electronic cash system.[17] Shortly thereafter, Nick Szabo created "Bit Gold".[18] Like bitcoin and other cryptocurrencies that would follow it, Bit Gold was an electronic currency system which required users to complete a proof of work function with solutions being cryptographically put together and published

the difference is that bitcoin is the first decentralized crypto, also those other crypto are not based on complex hash fuctions, they are like electronic money, nothing to do with bitcoin

so yes bitcoin is the first, don'tc compare it to that e-gold centralized garbage

[odolvlobo]

What I didn't understand:
How will 75 coins increase per hour when the reward will decrease by a half?

The current reward is 25 BTC, which increases the supply at the rate of 150 per hour. After the halving, the supply will continue to increase, but at the rate of 75 BTC per hour.

[Unkle]

I would like to expect that the price of bitcoin will rise with the halving but I'm not so sure. It's hard to say what the price will be tomorrow never mind in a year and halfs time.

[Natalia_AnatolioPAMM]

I would like to expect that the price of bitcoin will rise with the halving but I'm not so sure. It's hard to say what the price will be tomorrow never mind in a year and halfs time.

that's true, bitcoin is unpredictable

[tyz]

And what is your explanation for your assumption? Would be interested how you come to this.

What do you expect from the halving next year regarding price development of Bitcoin?

Currently, the price is very stable although there are created around 3k new Bitcoins every day. In my opinion, the price stability results by a constantly increase of demand. When the supply will be halved in 2016, the price should be grow linear if the current demand stays the same.

What do you think?

I always expect the worse! Bitcoin will die and we'll switch to a new cryptocurrency!

[Dotto]

I will tell what will happen. The price will be anticipated, so massively that it will crash hard on these days. After that kind of beartrap and then it will stabilize at the previous price and then and only then, will gradually, organically increase.

[Herbert2020]

i think if the price can survive long enough till it reaches the halving in 2016 and it stays at this range that it is right now, it is going to go up.

[Amph]

I will tell what will happen. The price will be anticipated, so massively that it will crash hard on these days. After that kind of beartrap and then it will stabilize at the previous price and then and only then, will gradually, organically increase.

don't hold too much hope in that "gradually increase" it could skyrocket in few days like it did with the 1200, now all those big news are like compressing the "spring"(bitcoin), when they will release it you will see what will happen to the price

for now it's better to expect some more dangerous crash or a bad price for not disappointing your expectations

[kingaltcoins]

yes i agree that price will rise when production of the coins get halved. but slow rise, don't expect fireworks

[odolvlobo]

I think the price is going to go up, then down, and then up again. Or, it will go down, then up, and then down again. Either way, it is going to go up or down, or maybe stay the same.  

[Natalia_AnatolioPAMM]

Another trick question:

Why do some people insist that the supply of bitcoins will fall at the halving, when the supply of bitcoins will actually continue to rise at the rate of 75 per hour.

where did you get the number from?

[GingerAle]

its an interesting question, because what could happen could affect the price, and the price could affect what could happen.

If the price going into the drop is too low, the network hashrate will decrease because certain mining operations will no longer be profitable. With the dropping out of some cloud mining services over the past year, I imagine many of these operations are operating on razor thin margins and just hoping that the valuation increases.

This, in turn, could increase the percentage of enthusiast miners, that don't care about the price and would support the network regardless. Which potentially increased hoarding, supply goes down, commercial operations come back in...

And the other 2 unknowns that could influence what happens are the costs of energy and any increases in efficiency. And of course the other is general world affaris. Bitcoin as global buffer currency is still a phenomenon that we haven't fully witnessed yet.

So, in summary, I expect more of the same = bitcoin will continue to function as a global asset / currency / remittance system with perhaps a slight redistribution in hashrate.

What is really interesting is to consider what will happen when the block reward is 0, considering the feature meant to compensate is transaction fees, but the blocksize limit hinders the ability of the transactions fees to compensate... so there's a lot of work to be done. In regards to this, I think the halving will wake everyone up to the importance of transaction fees in sustaining the network and get some real solutions to this blocksize problem.

sorry for the OT.

[Amph]

Another trick question:

Why do some people insist that the supply of bitcoins will fall at the halving, when the supply of bitcoins will actually continue to rise at the rate of 75 per hour.

where did you get the number from?

apparently some users does read only the last post of the thread...

here for your nuisance

What I didn't understand:
How will 75 coins increase per hour when the reward will decrease by a half?

The current reward is 25 BTC, which increases the supply at the rate of 150 per hour. After the halving, the supply will continue to increase, but at the rate of 75 BTC per hour.

[Pursuer]

yes i agree that price will rise when production of the coins get halved. but slow rise, don't expect fireworks

yeah, I agree. even if after halving and all it follow up hype, the bitcoin prices rises it is not going to go to the moon. I doubt if it goes anywhere $1000-$1200 which we saw in the last bubble.

[sdmathis]

I would like to expect that the price of bitcoin will rise with the halving but I'm not so sure. It's hard to say what the price will be tomorrow never mind in a year and halfs time.

There is no reason for anything to happen. If the price of Bitcoin goes up, it will have nothing to do with the mining rewards halving. A decrease in the mining rewards has no effect on the existing money supply.