Blawpaw (OP)
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October 10, 2015, 08:55:08 PM |
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The Halvening Spelled like this it looks like we're about to see an action sci fy horror movie. And in a way... "It's going to be fascinating to watch as we approach the next halving. 41 weeks away right now (bitcoinclock.com). FORTY ONE WEEKS. That's not that far off. Will it ignite the rocket ship? or lead to a collapse in mining if the price doesn't jump? or will we be range bound for another full year? As other events that were widely expected to move the price come and go (from Gemini going live to the Silk Road auctions) , the halvening sits out there as The Big One. Moon kids are already starting to hold their breath. Bag holders are hoping that they'll be bailed out by the halving. Buttcoiners are buttcoining 41 weeks. It's coming. And the effects of the halving may begin months prior to the actual date. It's been a fun ride so far, definitely getting some popcorn ready for the next 9 months. See you on the other side  " https://www.reddit.com/r/Bitcoin/comments/3o89yz/the_halvening/ |
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Pab
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October 10, 2015, 09:27:40 PM |
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Yes it will be fascinating,good you started that thread,41weeks,so it is 10 month,long and very short time
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Guido
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October 10, 2015, 09:39:56 PM |
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yes, I like the title too like 'the quickening' in the highlander  |
I am Bonkers BTW
Crypto OG
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CoinCidental
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Si vis pacem, para bellum
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October 10, 2015, 09:41:39 PM |
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The price raise is inevitable with time and halvings etc
I am sure of that much..
Raise to $50,000 per piece I am not sure in our lifetimes, it could happen easily if some event increased demand rapidly but I would predict a more gentle curve upwards with adoption growing and supply dwindling....
$5000 I can see.... In the not too far away future
More Scarcity + equal consumption would bring us there eventually as is without anything happening ....
but the unpredictable things like darkwebs services and markets and gambling are growing as more and more people figure out how to use them so the growth could hyper inflate much faster than people anticipate...
50k a btc would need legitimate companies using or accepting it for business transactions to reduce costs etc I think but 5k will be attainable whether they like it or not due to factors outside their control
The people have the power to make or break anything and the general public will not stop smoking weed/gambling or whatever else they want just because their local law says they're not allowed that...
An uncontrollable multinational payment system that involves no trusted party will never fail completely so forget anyone who says it's going to $0 as they are probably buying up coins while scaring you into parting with yours cheaply... There is a ridiculous amount of these kind of people now, they say btc is doomed worthless and yet they spend all their time on a btc forum (wouldn't that make their lives worthless too? ) .... Not too difficult to see their true agenda once you've been here for awhile... you will be able to spot them from a distance ....
Be wary of them here and elsewhere scaremongering .... They will do anything to get your btc because the race has started and human greed has no limits... But btc IS limited, scarce and valuable... Wink
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pereira4
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October 10, 2015, 11:10:18 PM |
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The price raise is inevitable with time and halvings etc
I am sure of that much..
Raise to $50,000 per piece I am not sure in our lifetimes, it could happen easily if some event increased demand rapidly but I would predict a more gentle curve upwards with adoption growing and supply dwindling....
$5000 I can see.... In the not too far away future
More Scarcity + equal consumption would bring us there eventually as is without anything happening ....
but the unpredictable things like darkwebs services and markets and gambling are growing as more and more people figure out how to use them so the growth could hyper inflate much faster than people anticipate...
50k a btc would need legitimate companies using or accepting it for business transactions to reduce costs etc I think but 5k will be attainable whether they like it or not due to factors outside their control
The people have the power to make or break anything and the general public will not stop smoking weed/gambling or whatever else they want just because their local law says they're not allowed that...
An uncontrollable multinational payment system that involves no trusted party will never fail completely so forget anyone who says it's going to $0 as they are probably buying up coins while scaring you into parting with yours cheaply... There is a ridiculous amount of these kind of people now, they say btc is doomed worthless and yet they spend all their time on a btc forum (wouldn't that make their lives worthless too? ) .... Not too difficult to see their true agenda once you've been here for awhile... you will be able to spot them from a distance ....
Be wary of them here and elsewhere scaremongering .... They will do anything to get your btc because the race has started and human greed has no limits... But btc IS limited, scarce and valuable... Wink
If we don't see SIX figures during our lifetimes it would mean Bitcoin failed. 50K is nothing. You guys seem to forget that there will ever exist 21 million coins and a lot of them are lost forever already, so its less than 21 million coins of total supply. You seem to forget that it would only take around 1% of fiat economy to be inside the Bitcoin economy to hit something around 300.000 USD per coin at current supply... |
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Mickeyb
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October 10, 2015, 11:21:58 PM |
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Well I must admit that I got shills while reading your post! So damn exciting the next year will be! I am pretty sure that the price will rise. Having half of the amount of new coins being created daily is very good for Bitcoin and I also think that this halving was long overdue. At the current prices, the current amount of new coins is putting huge down pressure on the prices. It's good to know that after July 2016, there will be only half of this pressure left. |
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Anmol_Verma
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October 11, 2015, 02:59:09 AM |
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I dont unerstand the original post can anyone tell me what he means? I am too waiting for halving
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Bifta
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October 11, 2015, 03:00:45 AM |
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Why would the price rocket or collapse at the next halving? What would cause this?
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dothebeats
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October 11, 2015, 03:14:17 AM |
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If we don't see SIX figures during our lifetimes it would mean Bitcoin failed. 50K is nothing. You guys seem to forget that there will ever exist 21 million coins and a lot of them are lost forever already, so its less than 21 million coins of total supply. You seem to forget that it would only take around 1% of fiat economy to be inside the Bitcoin economy to hit something around 300.000 USD per coin at current supply...
The true success of bitcoin doesn't rely to its price per dollar but rather if its accepted as a standard form of payment all over the world. I'm a solid believer of 1 btc = 1 btc and not 1 btc = $xx. We are still inclined to fiat these days because obviously, US$ is still the world's standard form of payment and is pretty much accepted in the whole world. If the day comes that most nations of this world start accepting bitcoins as a standard form of payment, then we will be able to see bitcoin's success. I dont unerstand the original post can anyone tell me what he means? I am too waiting for halving
Why would the price rocket or collapse at the next halving? What would cause this?
Less demand + more supply = price increase. If there would be lesser coins to mine after the halving and the demand for it is still increasing, the result would probably be a price increase. Basic economics, it still applies to the complicated world of crypto. |
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aso118
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October 11, 2015, 03:17:59 AM |
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You might not have to wait 41 weeks.
People will start reacting, in anticipation of the event.
So expect a trend to emerge months before the block reward is reduced.
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Preen
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October 11, 2015, 03:24:48 AM |
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Without a true increase in organic demand for BTC, there's really not too much moon to look forward to. The Market Maker for bitcoin has always had the ability to pump BTC sky high, but they simply won't if there isn't sufficient organic demand to support the price there. If the market maker has to support the price, then that says two things.
1. He isn't making money
2. The price of the asset is over priced because nobody wants to buy at that price.
So, there's really only two options, hang around the price at which there is real liquidity (and it looks like mid 200's is that range) or pump the price incrementally along with big hope events.
Every move by the market maker is a calculated move for his own profit. Not for everyone else.
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ralle14
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October 11, 2015, 03:58:50 AM |
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I dont unerstand the original post can anyone tell me what he means? I am too waiting for halving
the halving will reduce the miners block reward by half for every block they mine which as of right now is at 25 BTC per block when the next halving occurs which is next year it will be at 12.5 BTC per block this the time when prices of btc increases bc of more demand with the limited amount of supply still we dont know what might happen in the future so stay tuned |
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Preen
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October 11, 2015, 04:08:20 AM |
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I dont unerstand the original post can anyone tell me what he means? I am too waiting for halving
the halving will reduce the miners block reward by half for every block they mine which as of right now is at 25 BTC per block when the next halving occurs which is next year it will be at 12.5 BTC per block this the time when prices of btc increases bc of more demand with the limited amount of supply still we dont know what might happen in the future so stay tuned You can't really valuate this asset by looking at the supply side alone. Because pricing based on supply and demand equilibrium is done by analysing both the supply AND the demand. Now, if you had halve a brain (excuse the pun) you would have asked the question, why despite more adoption, higher magnitude of volume in trading, and more spotlight on bitcoin causes a sharp decline in price? Clearly, it was grossly mispriced in the first place and the demand was artificial. The lesson is, don't just assume that as the supply schedule halves, that the actual supply of coins halves, no. The halving is actually about the rate of supply being added to an existing supply being halved. |
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samuel999
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October 11, 2015, 04:31:59 AM |
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Now, if you had halve a brain (excuse the pun) you would have asked the question, why despite more adoption, higher magnitude of volume in trading, and more spotlight on bitcoin causes a sharp decline in price? Clearly, it was grossly mispriced in the first place and the demand was artificial.
Of course it was. Willy bot was the whole reason for the huge price spike in 2013. |
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Blawpaw (OP)
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October 11, 2015, 04:49:44 AM |
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yes, I like the title too like 'the quickening' in the highlander its more like the shakening. People don't even understand what kind of shakening the 29th Thursday had. Nobody really understands what money is. It's like borrowing Karl Marx to be a Communist symbol... or is it a Capitalist symbol? |
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Snorek
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October 11, 2015, 06:18:41 AM |
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Why would the price rocket or collapse at the next halving? What would cause this?
Less demand + more supply = price increase. If there would be lesser coins to mine after the halving and the demand for it is still increasing, the result would probably be a price increase. Basic economics, it still applies to the complicated world of crypto. It is basic economics and yet this is not the first bitcoin halving. None of the things you mentioned happened before after the halving of 2012. Why? |
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Amph
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October 11, 2015, 07:30:35 AM |
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Why would the price rocket or collapse at the next halving? What would cause this?
hype first, the halving itself won't have a very big impact, because you must take into account that miners could in theory dump the same amount of cois to bring back their profit if the price will not raise too much for example if miners are dumping 1800 coins now and have more profit than what they need to sustain their business, then with the price halved they will be forced to dump 1800(all) coins |
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1Referee
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October 11, 2015, 07:37:42 AM |
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Every one is looking forward to the block halving because they expect the price to rise considerably. I wouldn't be surprised if we see a huge dump at some point just before the halving to scare off people. Everything is possible.
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d3former
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October 11, 2015, 07:41:41 AM |
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Hopefully its not another buy the news situation and we actually see some organic growth.
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Hazir
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October 11, 2015, 08:01:00 AM |
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Halving is overhyped. W can only speculate what will happen after it. Standard economics, law of supply and demand would say that bitcoin price MUST go up. But here is a problem, Bitcoin is not exactly under influence of standard economics laws. Personally I would be very surprised if bitcoin price skyrocketed as a result of halving.
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