chennan
Legendary
 Offline
Activity: 1316
Merit: 1004
|
 |
February 01, 2016, 05:51:49 PM |
|
What is thing with the block halving? Does it effect alot of the mining progress?
Miners "Mine" blocks in the block chain (the fundamental part of Bitcoins infrastructure) for a reward. People sometimes mine in "Pools" where other miners get together and try to solve a block; or sometimes big time miners with a lot of hashing power mine blocks alone. The current reward for each block is 25 BTC right now, and during the summer, it will be cut in half to 12.5. You can read more about this here: https://en.bitcoin.it/wiki/Controlled_supply |
|
|
|
|
|
|
|
|
|
|
|
|
"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
Riricos
Newbie
Offline
Activity: 31
Merit: 0
|
|
February 01, 2016, 06:02:57 PM |
|
What is thing with the block halving? Does it effect alot of the mining progress?
Ahh i see so a 50% decrease wonder if pool mining would be rewarding. Miners "Mine" blocks in the block chain (the fundamental part of Bitcoins infrastructure) for a reward. People sometimes mine in "Pools" where other miners get together and try to solve a block; or sometimes big time miners with a lot of hashing power mine blocks alone. The current reward for each block is 25 BTC right now, and during the summer, it will be cut in half to 12.5. You can read more about this here: https://en.bitcoin.it/wiki/Controlled_supply |
|
|
|
|
Erkallys
Legendary
Offline
Activity: 1120
Merit: 1001
|
|
February 01, 2016, 06:06:08 PM |
|
This concerns me about what will happen to bitcoin price after 2016 ? Will it crash after the block halving ? Is there any upcoming incident in 2017-18 that may push the price up again ?
i dont understand why it would crash after the halfing lol. after halfing it would be the same bitcoin as before but with a reduced supply. if nything should happen to bitcoin it would be that the price would increase cuz the supply went down Like someone that I don't remember that it on the forum, it could crash because a lot of people that bought in the big bubble could sell in the big pump that will come with the halving to have their investment back. |
|
|
|
|
|
vrm86
|
|
February 01, 2016, 07:02:35 PM |
|
This concerns me about what will happen to bitcoin price after 2016 ? Will it crash after the block halving ? Is there any upcoming incident in 2017-18 that may push the price up again ?
i dont understand why it would crash after the halfing lol. after halfing it would be the same bitcoin as before but with a reduced supply. if nything should happen to bitcoin it would be that the price would increase cuz the supply went down Like someone that I don't remember that it on the forum, it could crash because a lot of people that bought in the big bubble could sell in the big pump that will come with the halving to have their investment back. World's interest in Bitcoin is quite significant already, comparing to the past years, so the market won't let falling that much. Some people will say, that 300$ is a good price to buyback, others would say that 250 and so on. I doubt if the proce will go under 200$ again. |
|
|
|
|
|
BTCBinary
|
|
February 01, 2016, 08:14:09 PM |
|
2016 is supposed to be a great year for bitcoin. I personnally think that it will bring a chance for many more people to join in. If the price goes to new highs, even with the halving, there will even a new run into mining.
|
|
|
|
|
|
bjbear123
|
|
February 01, 2016, 08:24:12 PM |
|
I don't know why people will be "HYPING" about the price, it seems to be going lower and lower. RIP Bitcoin
|
BTC: 1Q3B9pr84adJJxBNmo3w3FaEWgcCjCSPTv | ETH: 0x1A053Df90E06f59fc7Aeb12F7a7Ea1f47FA53748 | LTC: LYUQYCy7S68Yry2qv3XRC7xx62GbHZEWhH | BCH: lol  |
|
|
|
justspare
|
|
February 01, 2016, 08:39:04 PM |
|
I don't know why people will be "HYPING" about the price, it seems to be going lower and lower. RIP Bitcoin
People are hyping the price after halving. When halving comes, the price will sky-rocket. |
|
|
|
|
|
LiberOptions
|
|
February 01, 2016, 08:57:40 PM |
|
I hope the bitcoin price gets to $10000 as many people believe it will  |
|
|
|
|
|
elizabethqueen
|
|
February 02, 2016, 02:22:23 AM |
|
This concerns me about what will happen to bitcoin price after 2016 ? Will it crash after the block halving ? Is there any upcoming incident in 2017-18 that may push the price up again ?
it depending what happen in bitcoin halving,i am sure bitcoin halving will give effect to bitcoin price,and we all dont know what will happen,the bitcoin halving effect will influence bitcoin pric until 2017-18 i think. |
|
|
|
Za1n
Legendary
Offline
Activity: 1078
Merit: 1011
|
|
February 02, 2016, 02:54:35 AM |
|
With all else being equal the halving will put pressure on the miners to hold out for more return on their earnings. With the block reward going from 25 down to 12.5 and using current prices ~$375 BTC, their income would drop from $9,375/block (25*$375) down to $4697.50 (12.5*$375) if the price did not rise. Mining revenue is already running on razor thin margins, so a prolonged period of lower prices would force many miners to shut down. This coupled with the fact that the incoming dilution of fresh BTC is also going to decrease from approximately 6000 new BTC/day down to 3000 BTC/day, should combine to strengthen prices over the long term.
|
|
|
|
|
|
fricircled
|
|
February 02, 2016, 09:30:56 AM |
|
With all else being equal the halving will put pressure on the miners to hold out for more return on their earnings. With the block reward going from 25 down to 12.5 and using current prices ~$375 BTC, their income would drop from $9,375/block (25*$375) down to $4697.50 (12.5*$375) if the price did not rise. Mining revenue is already running on razor thin margins, so a prolonged period of lower prices would force many miners to shut down. This coupled with the fact that the incoming dilution of fresh BTC is also going to decrease from approximately 6000 new BTC/day down to 3000 BTC/day, should combine to strengthen prices over the long term.
The only effect of the halving is that the fresh supply of bitcoin will reduce by halve. It needs less money to support the price. |
|
|
|
|
|
rally
|
|
February 02, 2016, 09:32:28 AM |
|
I hope the bitcoin price gets to $10000 as many people believe it will Yeah we hope that one day it will reach that price for sure, but still its a long way to go, and we are not sure whether it will go that far or not, but surely it would cross $600 in the next coming months, and if it reaches that price than many of us would be enjoying some profits. That should be very nice. Nobody knows what the future will bring. But everything is possible. I am a believer and have plenty of time. |
|
|
|
|
arbitrage
|
|
February 02, 2016, 09:45:11 AM |
|
This is bitcointalk forum about bitcoin..This is right place for this kind of talks.
I don't see anything wrong in this price predictions..
Its natural when halving happens price will start to rise sooner or later .
|
|
|
|
|
|
newcoins1978
|
|
February 02, 2016, 09:59:05 AM |
|
Everyone is hyping yes, but its true about the price. The price will rise and everyone is excited to make profit. So that's why they are hyping about it. I don't know why people will be "HYPING" about the price, it seems to be going lower and lower. RIP Bitcoin
|
|
|
|
|
Dekker3D
Sr. Member
Offline
Activity: 434
Merit: 250
★YoBit.Net★ 350+ Coins Exchange & Dice
|
|
February 02, 2016, 10:10:33 AM |
|
Every community hypes about their supported crypto and it's not just in BTC. It happens on those Pump and Dump coins as well. Not sure if the hyping is successful though as the price just keeps on getting lower.
|
|
|
|
equilibriator
Member
Offline
Activity: 67
Merit: 10
|
|
February 02, 2016, 12:17:08 PM |
|
I think the block halving will increase the BTC price since the offering will be lower, Technically I think lower offer would equal higher price with the same demand "which can rise since BTC is gaining more ground now".
|
|
|
|
|
DaveJones
Newbie
Offline
Activity: 56
Merit: 0
|
|
February 02, 2016, 09:39:32 PM |
|
Millions of new users are required to increase the price by a significant amount.
|
|
|
|
|
ajareselde
Legendary
Offline
Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
|
|
February 02, 2016, 10:11:21 PM |
|
Millions of new users are required to increase the price by a significant amount.
Not really, i guess it really mostly depend on who the users are, and it's the people that are interested in blockchain tech, and investors mostly probably. A strong impact on the btc/fiat price is affected by block reward as well, and it should be a lot easier for the price to rise once the miner dumps are halved. Don't be so negative, half of success is in attitude. |
|
|
|
|
Za1n
Legendary
Offline
Activity: 1078
Merit: 1011
|
|
February 02, 2016, 10:55:56 PM |
|
There appears to be renewed interest in a lot of alt coins for 2016 as we have already seen several pumps. I agree that a rising BTC floats all boats, as most alts are directly coupled to the price of BTC, but I also think we will start to see a bit more independence as the year progresses, including LTC. We had the pump last year where LTC broke above $8 and above the .01 LTC/BTC ratio so it is not always directly coupled to BTC, and I have a feeling we might see a few more pumps. While most alts are only good for pump/dump, I believe over time the more useful alts will begin to take on a life of their own.
|
|
|
|
|
|
mwizard
|
|
February 03, 2016, 12:22:10 AM |
|
I think its safe to say that 2016 will be a big year for bitcoin for 2 main reasons
1. Many fortune 500 companies and banks have recently invested in the cryptocurrency
There is no sign that large companies or banks are supporting Bitcoin. More the opposite. Banks are just looking at blockchain technology for their own use. |
|
|
|
|
|
