Bitcoin halving to be canceled?

[deisik]

Being inflation free is the best benefit we can have with bitcoins, apparently we are all investors here and why we patronize bitcoins because we expect that it could give us a good benefits and maybe make a fortune out of it.

But there is always a limit to such growth

Really, trees don't grow to the sky. When Bitcoin price begins to stagnate, many long-term holders will like to cash out and call it a day. If Bitcoin doesn't get traction as a means of payment among merchants and service providers till then (which would render speculation inconsequential), it may suffer heavy losses and its price will decline. Obviously, we are still far from that point of saturation and can safely continue to speculate with bitcoins without risking to turn into the only ones left standing and holding the bag

Your reply is kinda caricatural. Long-term holders will probably never sell their bitcoins. As for exemple, I will never sell mine, since the purpose of Bitcoin is to be the money, not to be traded for money once its value compared to fiat will have grown to a certain point. I don't count in fiat money, but only in Bitcoin. For me the biggest problem in a global Bitcoin acceptance if that people are counting their money, even when in Bitcoin, in fiat. For me 0,01BTC is 0,01BTC, not 9,274$

Really, I'm quite happy that there are people who are willing to hold the bag for us, opportunistic traders and short-term holders. But, to be honest, I don't typically believe when people start claiming similar things, that they will hold no matter how small or high the price might be. Not that I'm saying that they are deliberately lying, they may definitely think so when they say something to that tune. But as the saying goes, when money talks bullshit walks. People are not very reliable in this aspect, given how many things can affect their opinion...

Any sane person would exchange his bitcoins for fiat if he was in urgent need for money (e.g. due to contingency or other adverse events)

and why? you can go ahead and simply use your coin instead of wasting fee on exchanging them for fiat, there are many service that accept bitcoin

when bitcoin will reach a very large scale and almost everyone will accept it, it's there that you will not need fiat anymore

it's all about merchants acceptance, if for example amazon or any real supermarket that deliver foods where already accepting bitcoin nowadays, why i should exchange them for fiat? no sense

I remember we had been discussing that issue about a year ago

And if my memory serves me correctly, we discussed it even before that. I still don't see many vendors and merchants accepting Bitcoin. Most of them if not all which are accepting it still convert their Bitcoin proceeds to fiat later on, while you have to pay hefty premiums for your Bitcoin purchases and which by far exceed the exchange fees. So we are essentially back to square one, and, as a matter of fact, it makes sense to pay with bitcoins today as little as it did a year (or two) ago

another thing to help this is that we need employers that pay you in bitcoin directly, because buying it to use it like fiat, it's also no-sense to me, this is another reason why many are not bothering with bitcoin for now...

You can't make employers pay wages and salaries in Bitcoin, since they may be and most likely are legally bound to pay their employees in local fiat

[OROBTC]

...

deisik wrote:

I still don't see many vendors and merchants accepting Bitcoin.

And that is a key observation.  Many of us forget that it is not just we who buy & use Bitcoin who will ultimately determine how successful BTC will be.  Yes, growing the number of people (like us) who buy & use BTC is important, but if merchants will not start taking BTC en masse, then it will ultimately fail IMO.

*  *  *

Halving should help BTC price move up (on the average through time).  Certainly The Halving likely contributed some to BTC's nice trajectory up in 2016.

[Amph]

You can't make employers pay wages and salaries in Bitcoin, since they may be and most likely are legally bound to pay their employees in local fiat

well this because bitcoin is not legal accepted in those country or if anything, everywhere, and it's the same reason why merchants like amazon are not accepting it, but it may change in the future, when bitcoin will eb more recognized

you only need the government to treat bitcoin as a part of the fiat world, not an easy task though

[transabox]

You can't make employers pay wages and salaries in Bitcoin, since they may be and most likely are legally bound to pay their employees in local fiat

well this because bitcoin is not legal accepted in those country or if anything, everywhere, and it's the same reason why merchants like amazon are not accepting it, but it may change in the future, when bitcoin will eb more recognized

you only need the government to treat bitcoin as a part of the fiat world, not an easy task though

It seems to me that if the government will consider Bitcoin as a Fiat, it will lead to tax Bitcoins. In addition, he will lose anonymity. I do not want it

[virasog]

You can't make employers pay wages and salaries in Bitcoin, since they may be and most likely are legally bound to pay their employees in local fiat

well this because bitcoin is not legal accepted in those country or if anything, everywhere, and it's the same reason why merchants like amazon are not accepting it, but it may change in the future, when bitcoin will eb more recognized

you only need the government to treat bitcoin as a part of the fiat world, not an easy task though

The system is full of rules and regulations that it is not easy to simply pay out bitcoin instead of fiat currency as wages or salaries. Unless and until some nation comes out with a set of rules and regulations to SUPPORT bitcoin.

[virasog]

You can't make employers pay wages and salaries in Bitcoin, since they may be and most likely are legally bound to pay their employees in local fiat

well this because bitcoin is not legal accepted in those country or if anything, everywhere, and it's the same reason why merchants like amazon are not accepting it, but it may change in the future, when bitcoin will eb more recognized

you only need the government to treat bitcoin as a part of the fiat world, not an easy task though

It seems to me that if the government will consider Bitcoin as a Fiat, it will lead to tax Bitcoins. In addition, he will lose anonymity. I do not want it

I don't see any major companies paying salary in bitcoin. All Governments treat bitcoin as hostile and even if  some of them don't say it out straight, you can see it in the way how they frame regulations.

[deisik]

You can't make employers pay wages and salaries in Bitcoin, since they may be and most likely are legally bound to pay their employees in local fiat

well this because bitcoin is not legal accepted in those country or if anything, everywhere, and it's the same reason why merchants like amazon are not accepting it, but it may change in the future, when bitcoin will eb more recognized

you only need the government to treat bitcoin as a part of the fiat world, not an easy task though

It seems to me that if the government will consider Bitcoin as a Fiat, it will lead to tax Bitcoins. In addition, he will lose anonymity. I do not want it

I don't see any major companies paying salary in bitcoin. All Governments treat bitcoin as hostile and even if  some of them don't say it out straight, you can see it in the way how they frame regulations.

That should be expected

If the government issues its own currency (not all governments do that), it would be openly hostile to any foreign currency because people would compare their national currency with foreign currencies which are available to them (and Bitcoin is no exception in this respect). And if the national currency is not on par with the competing currencies, people will obviously prefer to hold their savings in these other currencies. But this will only worsen the situation for the national currency by spurring up its inflation in the long run

[jaysabi]

Halving should help BTC price move up (on the average through time).  Certainly The Halving likely contributed some to BTC's nice trajectory up in 2016.

Since a large component of an asset's value is the expectation of what it should be worth, it's interesting to me to wonder how much of that is because of fundamental economic law and how much is because of what people expected to happen because of an overly simplistic application of fundamental economic law. Appreciation related to the halving could just be a self-fulfilling prophecy, i.e. the price rises because everyone expects it to rise.

[Positid]

Halving should help BTC price move up (on the average through time).  Certainly The Halving likely contributed some to BTC's nice trajectory up in 2016.

Since a large component of an asset's value is the expectation of what it should be worth, it's interesting to me to wonder how much of that is because of fundamental economic law and how much is because of what people expected to happen because of an overly simplistic application of fundamental economic law. Appreciation related to the halving could just be a self-fulfilling prophecy, i.e. the price rises because everyone expects it to rise.

It was the hype that brings the price of bitcoin to rise, but somehow the halving helps because when people the price will rise they will do things that would help the price to rise. It's news driven so we have to pay attention with what is happening.