miners: how are you going to react to the reward halving?

[LiteBit]

Those interested in immediate profit will upgrade to asic, those interested in long term investment will continue to mine, even at a loss (@current rates)

I'm in it for both immediate profit and long term investment... As I'm sure most on here are.  That's why I am upgrading and got orders in early for the next generation ASICs.  I'm hopeful the new equipment pays off itself within the first month as the rush comes online (would be great if its within the first week . I'm also hoping its paid off prior to the reward halving.  Then it's long term investing from there. And re investing in more equipment with profit. 

I am with the rest of you that think the market will balance itself and keep the current predictable ratio of:
BTC cost : Difficulty : Personal Hash Power : Daily Intake (profit). 

[ShadesOfMarble]

sure, nobody knows what will happen to the market when the reward halving happens, but what are the miners PLANNING?

Mine on.

[dlasher]

sure, nobody knows what will happen to the market when the reward halving happens, but what are the miners PLANNING?

can any pool operators comment?

If <hardware = GPU> then stop;
if <hardware = FPGA> then keep going;

[Unacceptable]

Those interested in immediate profit will upgrade to asic, those interested in long term investment will continue to mine, even at a loss (@current rates)

I'm in it for both immediate profit and long term investment... As I'm sure most on here are.  That's why I am upgrading and got orders in early for the next generation ASICs.  I'm hopeful the new equipment pays off itself within the first month as the rush comes online (would be great if its within the first week . I'm also hoping its paid off prior to the reward halving.  Then it's long term investing from there. And re investing in more equipment with profit. 

I am with the rest of you that think the market will balance itself and keep the current predictable ratio of:
BTC cost : Difficulty : Personal Hash Power : Daily Intake (profit). 

Pretty much my thoughts!!!! Kudo's 

[zvs]

i'm going to sell off all my stuff and go to disneyland

[Gatorhex]

Stop mining, buy coins, pray ASICs are a scam and wait for bitcoins to hit $24 

[twmz]

People talk about the reward halving as if it will have some big mysterious and unprecedented effect on miners.  Income has been cut in half several times over the past few years as difficulty has increased.  Keep in mind that for any individual miner, the reward being cut in half has exactly the same effect on income rate as the difficulty doubling.  If you want to see what affect that will have, just look back at the past 3 months.  At the start of July, difficulty was close to 1.5 million.  Now it is a bit above 3 million.  How have you reacted to your income being cut in half over the past 3 months?

[Graet]

People talk about the reward halving as if it will have some big mysterious and unprecedented effect on miners.  Income has been cut in half several times over the past few years as difficulty has increased.  Keep in mind that for any individual miner, the reward being cut in half has exactly the same effect on income rate as the difficulty doubling.  If you want to see what affect that will have, just look back at the past 3 months.  At the start of July, difficulty was close to 1.5 million.  Now it is a bit above 3 million.  How have you reacted to your income being cut in half over the past 3 months?

wasn't BTC worth around $5 is July (difficulty was close to 1.5 million) and ~$12 now (Now it is a bit above 3 million)? when converted to fiat (yukky I know) my income has actually increased despite difficulty rises
turning on 2 FPGA and off 4 x 6950 has helped my power consumption therefore bottom line too.

some would say the reward drop is already "factored in" to the price - I guess we will see

[DobZombie]

sure, nobody knows what will happen to the market when the reward halving happens, but what are the miners PLANNING?

I'm only going to be able to afford half price hookers now....

o.0

[paulie_w]

i'm starting to think that the price will be driven _down_ by the halving first, then back up again as the miners try to push it.

it's just too weird of an event and may cause some panic.

[os2sam]

i'm starting to think that the price will be driven _down_ by the halving first, then back up again as the miners try to push it.

it's just too weird of an event and may cause some panic.

What's weird?  Reward Halving?  That's the design, nothing weird about it.

What doesn't cause panic these days?
Sam

[conspirosphere.tk]

unless price doubles or difficulty halvens, I am going out.
 

[Isokivi]

Im reacting by trying to find alternative bitcoin income, for starters Im selling goods for bitcoin.

[Soros Shorts]

I think I will become outraged and demand a change in protocol so that the original reward may be restored. Then when nobody listens I will quit mining in disgust.

Seriously though, this has been expected for a while. Personally I already have a bunch of coins so I am willing to waste a few hundred $ worth of electricity a month to continue mining with ASICs (even at a loss) just to protect the network and the coins I already have.