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HarryKPeters
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November 14, 2015, 01:27:16 AM |
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Bitcoin needs a stable network/nodes (miners).
Miners need rewards/roi.
+
Bitcoin don't needs inflation.
Halving decreases inflation and (so far) brought the price up
=
A very good thing for bitcoin.
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Possum577
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November 14, 2015, 03:59:45 AM |
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I'm sure it's good as theoretically the price should double after the halving.
That is a common misconception. There is no reason why the price should double as a result of the halving. The "supply" is not halved. The production is halved and there is a fundamental economic difference between the two. Well the miner's costs will rise significantly and if the price does not rise then there will be no incentive for the miners to keep mining. Agreed, it's very possible that we'll never get to all of bitcoin being mined...just like we'll never mine all the gold in the ground, at some point it just won't be worth it or profitable. And of course there will never be a full 21 million coins because a few were earmarked as "test" coins or "throwaway" coins, it'll be something like a few thousand or hundred thousand less than 21 million. |
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ivanst776
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Activity: 1540
Merit: 1003
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November 14, 2015, 04:08:22 AM |
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The halving i think that will be good for the bitcoin community, and will be even better for early investors, by the next July i expect the price to be increased.
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FrostStick
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November 14, 2015, 04:30:57 AM |
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I'm sure it's good as theoretically the price should double after the halving.
That is a common misconception. There is no reason why the price should double as a result of the halving. The "supply" is not halved. The production is halved and there is a fundamental economic difference between the two. Well the miner's costs will rise significantly and if the price does not rise then there will be no less incentive for the miners to keep mining. FTFY Thanks. |
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~Bitcoin~
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November 14, 2015, 05:45:52 AM |
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I think if more merchants than now start to accept bitcoin till july then it will be good for bitcon price.
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photon_coin
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November 14, 2015, 05:47:08 AM |
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good or bad, matters not, we need to live with the code 'Satoshi' has left us, not a good idea to change it
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bitart
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November 14, 2015, 07:29:22 AM |
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I think if more merchants than now start to accept bitcoin till july then it will be good for bitcon price.
What do we have that we can persuade the merchants with to start accepting bitcoin? If they have a working internet connection, and a PC or tablet or even a single mobile phone, what else do they need (hardware/software)? Is it possible to quicken the transaction (higher fees) or they need to sit down the customer for a cup of coffee to wait for the verification? |
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Amph
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November 14, 2015, 07:45:06 AM |
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I'm sure it's good as theoretically the price should double after the halving.
That is a common misconception. There is no reason why the price should double as a result of the halving. The "supply" is not halved. The production is halved and there is a fundamental economic difference between the two. Well the miner's costs will rise significantly and if the price does not rise then there will be no less incentive for the miners to keep mining. FTFY well it depend because at some point if the price will not increase there will be zero incentive for them to mine, unless they have free electrcity, but even then if the price is very low, they can not add other equipments and the network will not grow and can be vulnerable and i doubt every single miners out there will have free electricity in the best scenario, so many will simply leave the game |
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1Referee
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November 14, 2015, 09:15:18 AM |
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From my point of view it does matter in a good way as we currently have a period of a few years with more supply than demand. The halving will make sure the difference between supply and demand will be at least leveled and even result in more demand. If the price shows a 100% increase which we have already seen, but it didn't last unfortunately, the miners will also be happy.
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Mickeyb
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November 14, 2015, 07:54:21 PM |
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I'm sure it's good as theoretically the price should double after the halving.
That is a common misconception. There is no reason why the price should double as a result of the halving. The "supply" is not halved. The production is halved and there is a fundamental economic difference between the two. Well the miner's costs will rise significantly and if the price does not rise then there will be no less incentive for the miners to keep mining. FTFY well it depend because at some point if the price will not increase there will be zero incentive for them to mine, unless they have free electrcity, but even then if the price is very low, they can not add other equipments and the network will not grow and can be vulnerable and i doubt every single miners out there will have free electricity in the best scenario, so many will simply leave the game I am sure that the price will rise to the point that about 75% miners will be happy. Other 25% we might lose, but this won't be a big deal since we have too much of the hash power anyways at the moment. Even if we lose some, we will be fine! |
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HerkulesBee
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November 14, 2015, 10:30:41 PM |
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Bitcoin is a scarce digital asset. The demand is rising as you can see with the help of rising transaction numbers. The supply will drop 50% in 07/2016.
1) Demand for BTC rising permanently
2) Daily supply halving in 07/2016
3) Price skyrocketing before 07/2016 because of speculation
4) Price remaining significantly higher than before the price spike
5) The incentive for the miners will be held alive because of higher BTC price despite decreasing supply.
Thats just my personal opinion but also for sure a very likely scenario :-)
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The Sceptical Chymist
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Activity: 3332
Merit: 6826
Cashback 15%
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November 14, 2015, 10:35:13 PM |
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If I may ask, is it possible that the current price of bitcoin has already factored in the halfing? And I mean this in an efficient market hypothesis kind of way. I don't pretend to understand bitcoin fully, but this halving is known well in advance.
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eternalgloom
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November 14, 2015, 11:19:13 PM |
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If I may ask, is it possible that the current price of bitcoin has already factored in the halfing? And I mean this in an efficient market hypothesis kind of way. I don't pretend to understand bitcoin fully, but this halving is known well in advance.
It could be that there's already a certain hype surrounding the next reward halving, but I think the recent price increase was more due to some positive news from China and possibly EU labelling Bitcoin as a currency. I think it's still a bit early to tell, plus I would assume that the price will rise the most after halving, not before... |
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HerkulesBee
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November 15, 2015, 07:12:32 AM |
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Bitcoin is a scarce digital asset. The demand is rising as you can see with the help of rising transaction numbers. The supply will drop 50% in 07/2016.
Every time someone says that the "supply will drop 50%", God crushes a kitten. Please don't kill any more kittens. The "supply" is not halved. The production is halved and there is a fundamental economic difference between the two.
....the daily supply of new minted coins will be reduced by 50%, right? ;-) |
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Amph
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November 15, 2015, 08:51:36 AM |
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well it depend because at some point if the price will not increase there will be zero incentive for them to mine, unless they have free electrcity, but even then if the price is very low, they can not add other equipments and the network will not grow and can be vulnerable
and i doubt every single miners out there will have free electricity in the best scenario, so many will simply leave the game
When you write things like "zero incentive", "free electricity", and "every single miner", you are being absurd. None of those apply. It isn't worth discussing. i'm just stating the truth, and what will never happen, there is no way the miners can continue to mine when the reward is almost zero if the price do not increase with the halving If I may ask, is it possible that the current price of bitcoin has already factored in the halfing? And I mean this in an efficient market hypothesis kind of way. I don't pretend to understand bitcoin fully, but this halving is known well in advance.
yeah and it's the reason why we are safe already for this halving, but for the next one we need again a price increase i've calculated that miners can continue to mine even below $100(around 70) per btc until this halving, and below $200(or around that) for the next one and so on but this is the minimum, their profit would be very insignificant.... |
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EsBitcoin.org
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November 15, 2015, 12:49:34 PM |
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Bitcoin is a scarce digital asset. The demand is rising as you can see with the help of rising transaction numbers. The supply will drop 50% in 07/2016.
Every time someone says that the "supply will drop 50%", God crushes a kitten. Please don't kill any more kittens. The "supply" is not halved. The production is halved and there is a fundamental economic difference between the two.
....the daily supply of new minted coins will be reduced by 50%, right? ;-) Yes, inflation will be reduced by 50% |
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eternalgloom
Legendary
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November 15, 2015, 01:21:11 PM |
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Also an important factor, though still a bit taboo to talk about is the fact that there's an entire underground economy that's literally dependant on Bitcoin, which fuels demand tremendously.
Just think about the amount of Bitcoin in SR1's wallet....
So combine the reward halving with a steady demand that's only going to grow (in my opinion) and it seems inevitable that we'll see a steady price increase in the future.
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smith coins
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November 15, 2015, 02:22:56 PM |
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If there is no halving i think that the price will be decreased.
So more coins will be available at the market and the interest of people may not be popular.
Less coins in the market the price should be increased, so it is good and not bad for the Bitcoin.
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bitart
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November 15, 2015, 10:08:38 PM |
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Are you expecting a slowly rising price or as we are coming closer and closer to the halving, price will raise exponencially in the end? What if something happens near to the halving that in normal circumstances would make the price to drop? The small news won't move the market coming closer and closer to the halving? Or the news will always be stronger than the effect of halving?
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AtheistAKASaneBrain
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November 16, 2015, 12:20:47 AM |
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The only thing actually bad about the halving is the fact that the price will go up, and we (by we I mean people like me that want to keep making more BTC to store for the long term) will have it harder. It was easier to buy BTC when it was 230, now at 100 dollars more, its getting hard to make BTC monthly.
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