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Author Topic: what will happen in 37 weeks when bitcoin halves again  (Read 2549 times)
Amph
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November 08, 2015, 08:13:10 AM
 #21

price will increase i'm 99% sure about this, so this will prevent miners from abandoning the scene, even the small one, hell right now there is already more profit to be made

let alone another increase in value
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November 08, 2015, 08:13:48 AM
 #22

It may come to be that it is not profitable anymore for some miners to continue mining - especially maybe smaller, solo miners or those without access to cheap electricity and efficient hardware. Mining itself will not stop.

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November 08, 2015, 08:21:57 AM
 #23

If miners stopped mining it would be great for everyone else.

then how can we get our transactions to be confirmed if no one is mining for the network? IMO all transactions will be forgotten by the network in few days if its not confirmed so bitcoin will eventually die if that happens
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November 08, 2015, 08:29:05 AM
 #24

How will miners react to this?

Miners with old mining tools or high maintenance cost have to quit from mining because they can't get profit.
And other miners will be happy because because bitcoin difficulty is decreased

What will it take to keep miners mining?

High bitcoin price, new mining technology or low bitcoin difficulty.

What if miners in large numbers decide not to mine?

Small miners would be happy because they don't have big competitor and it would decrease bitcoin difficulty which means small miners can get more profit.

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November 08, 2015, 08:47:41 AM
 #25

My guess is that alot of miners will quickly run away, they've made the profit they wanted. But due to this, the transaction fees would rise to something like 0.0005-0.001 per transaction. But due to the low amount of miners (lower difficulty) and higher transaction fees, the miners will quickly flood back in. Probably not as much as before, but more than straight after the halving. But due to this, the tx fees will lower again, and miners will quit. again. Thus continues the circle of greed.

Or, maybe the miners will read this post, and no one will leave the mining game. One way or another, the thriving non-miner community will stay on top of the world.


But most of the home miners will quit.


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November 08, 2015, 08:52:26 AM
 #26

If miners stopped mining it would be great for everyone else.

Are you sure about that? I still have much to learn about bitcoin but wouldn't it fail since there would be no one securing the transactions?

I think he meant that, if the big miners stop mining with their crazy huge rigs, the difficulty would go down allowing people with lesser hardware to mine more Bitcoin.

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GermanFoobla
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November 08, 2015, 02:06:21 PM
 #27

I feel the current rise of the price has to do with the upcoming halving. Which will bring the new floor to USD 400-450.

Goodbye 230
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November 08, 2015, 03:22:40 PM
 #28

I feel the current rise of the price has to do with the upcoming halving. Which will bring the new floor to USD 400-450.

Goodbye 230

This is pretty much my hope.

I think this could be the prequel to the 1/2 ing.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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November 08, 2015, 04:43:29 PM
 #29


I believe bitcoin will survive the halving and long there after. I am going to stay invested. I think the ceo who said that bitcoin will be dead soon because no government will put up with it is a clown. More than likely bitcoin is a threat to his job.
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November 09, 2015, 11:20:50 AM
 #30

The same thing that happened last halving, nothing special, business as usual...
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November 09, 2015, 11:59:25 AM
 #31

Most likely, there will be a runup starting about a month before the halfing.
I'm guessing it will go up 60-70%, then drift back down a couple months after the halfing to about 50% more than 2 months before the halfing.

 At that point, anything older than the "current generation" will have become unprofitable even with VERY CHEAP electric and a lot of hashpower will start dropping out - but I suspect there will be plenty of "current generation" hashpower on line by then, so the diff likely won't drop much if at all from the 2-months-before point to the 2-months-after point.

 I DO expect to see a very short-term diff drop after the halfing, then close to stagnation for a while - kind of like the first half of this year but more so.


 If the current price surge lasts longer than I think, and the runup gets BitCoin pricing above $600 or so, the halfing won't have much effect at all as older-gen units will still be profitable (barely). The diff probably WILL still flatten out though, and eventually folks with higher electric costs will go unprofitable and shut down older gear.


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November 09, 2015, 12:16:40 PM
 #32

The same thing that happened last halving, nothing special, business as usual...
The last halving happened in 2012. At that time, the demands wasn't big and the mining competition wasn't big either. But now, many still have to sell them for electrical fees. Some claimed to have kept a portion of it in Bitcoins from the mining profits. Since many would have ROIed by now, I can't say about how much the halving would impact prices but I doubt the prices would skyrocket.

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November 11, 2015, 09:31:01 PM
 #33

The price will be safe @ 400 usd I expect, else a lot of ppl will have to turn their miners off..
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November 11, 2015, 10:08:38 PM
 #34

The same thing that happened last halving, nothing special, business as usual...

Did mining profits decrease?
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November 12, 2015, 07:21:07 AM
 #35

The same thing that happened last halving, nothing special, business as usual...

Did mining profits decrease?

Yes, they went from 50 BTC per block to 25 BTC per block.
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November 12, 2015, 08:12:38 AM
 #36

BTC to the moon on halving !
That's the way to go !
Hahaha


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marbu1022
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November 12, 2015, 12:41:36 PM
 #37

The same thing that happened last halving, nothing special, business as usual...

Did mining profits decrease?

Yes, they went from 50 BTC per block to 25 BTC per block.

LOL, that much I knew. I guess I should have asked the question differently.

How did miners compensate for the halving?
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November 12, 2015, 03:16:24 PM
 #38

The same thing that happened last halving, nothing special, business as usual...

Did mining profits decrease?

Yes, they went from 50 BTC per block to 25 BTC per block.

LOL, that much I knew. I guess I should have asked the question differently.

How did miners compensate for the halving?

Well back when it happened there were no asic's    and the price stumbled  we had a - diff or two.

Then avalon came out with the first asic  and we had 2 spikes  in price.

The march april 2013 spike  ..  I made more money then I did from aug 2012 to feb 2013.

My guess is we ramp up in price to the 350-500 level  vs the older 230 level. 

Home mining will never die simply because of heating value during the winter.

I have a few winter locations that use electrical heaters like this

http://www.sylvane.com/delonghi-comfortemp-radiator.html?s_cid=cse_bingshopping

so how is this not a perfect place for an s-3 or two?

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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November 12, 2015, 04:48:05 PM
 #39

The same thing that happened last halving, nothing special, business as usual...

Did mining profits decrease?

Yes, they went from 50 BTC per block to 25 BTC per block.

Nope, that's the revenue, not profits.  Smiley


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November 13, 2015, 07:25:14 AM
 #40

BTC to the moon on halving !
That's the way to go !
Hahaha

price is already 50% higher, now that we are still many months away, a 100% increase is more than possible by the time the halving kick in, this is good so the miners will not leave, and keep securing the network
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