Bitcoin halving on mythical date: June 21, 2016 (midsummer!)

[bitpump]

Bitcoin halving on mythical date: June 21, 2016, which is midsummer



http://www.bitcoinblockhalf.com/  
https://en.wikipedia.org/wiki/Midsummer  

[southafricadude]

I imagine a lot of speculators are already buying up bitcoin in anticipation of a price rise.....

[The Sceptical Chymist]

Not a big deal except I'll be looking forward to much warmer weather where I'm at.  The bitcoin market is much more efficient than you and a lot of others give it credit for.

[Lauda]

This is interesting. Bitcoinclock shows something else.

Reward-Drop ETA: 2016-07-13 01:07:58 UTC (20 weeks, 5 days, 13 hours, 30 minutes)

Albeit in both cases it has moved considerably since the last time that I've viewed it. If the increased production of blocks per day persists, then it is possible that we are going to see the halving in June.

[cointinflas]

This is interesting. Bitcoinclock shows something else.

Reward-Drop ETA: 2016-07-13 01:07:58 UTC (20 weeks, 5 days, 13 hours, 30 minutes)

Albeit in both cases it has moved considerably since the last time that I've viewed it. If the increased production of blocks per day persists, then it is possible that we are going to see the halving in June.

An important question:

Dou you guys think that after the halving many minor mining operations are going to become unprofitable (and hence shut down their operations)?

If it's hard to profit from mining today (specially small miners) what would happen with them after the halving?

I'm concerned it could give even more power to those giant miners that already concentrate the hashing power of the world.

[Lauda]

I'm concerned it could give even more power to those giant miners that already concentrate the hashing power of the world.

That's not really how the system works. There are no "giant miners", at least not from what we can see from our own perspective. You are talking about the major pools that are currently running the network. A pool is made out of a lot of miners. This is the current distribution of hashrate among the pools right now. I don't see a reason for which there would be any significant changes to the distribution due to the halving. Mining is already somewhat centralized.

[Amph]

An important question:

Dou you guys think that after the halving many minor mining operations are going to become unprofitable (and hence shut down their operations)?

If it's hard to profit from mining today (specially small miners) what would happen with them after the halving?

I'm concerned it could give even more power to those giant miners that already concentrate the hashing power of the world.

no because they are producing new asic generation with double the efficiency which will shut down the halving profit reduction

16 nm are on the way

I'm concerned it could give even more power to those giant miners that already concentrate the hashing power of the world.

That's not really how the system works. There are no "giant miners", at least not from what we can see from our own perspective. You are talking about the major pools that are currently running the network. A pool is made out of a lot of miners. This is the current distribution of hashrate among the pools right now. I don't see a reason for which there would be any significant changes to the distribution due to the halving. Mining is already somewhat centralized.

wrong, giant mienrs are a reality there are huge farm out there that alone are sitting on 50-100+ peta, that is 10% of the total hash, if this is not a giant miner than i dunno what it is

[thejaytiesto]

I imagine a lot of speculators are already buying up bitcoin in anticipation of a price rise.....

The price already started going up because of the halving (as well as a lot of other things, including the Classic bullshit dying and so the Core roadmap looking good for the future). Things are getting cooked up nicely and we will have 0.12 soon which will be an huge improvement. ATH this year gets broken.

[eyeknock]

The price already started going up because of the halving (as well as a lot of other things, including the Classic bullshit dying and so the Core roadmap looking good for the future). Things are getting cooked up nicely and we will have 0.12 soon which will be an huge improvement. ATH this year gets broken.

Be sure about that and this is just the beginning, price will raise more in the next months.

Bitcoin halving on mythical date: June 21, 2016, which is midsummer

even if thats a mythical date, what will be mythical is the halving himself , this one and the next one will be decisive for bitcoin.

[tobacco123]

I imagine a lot of speculators are already buying up bitcoin in anticipation of a price rise.....

I don't think they have even started buying. The blocksize "war" has actually slowed down the growth in confidence...

[Nomad88]

I checked the clock 3 days ago, back then it was 13th july. I think it is too early to see exactly which date it will happen.

[Kakmakr]

I imagine a lot of speculators are already buying up bitcoin in anticipation of a price rise.....

The price already started going up because of the halving (as well as a lot of other things, including the Classic bullshit dying and so the Core roadmap looking good for the future). Things are getting cooked up nicely and we will have 0.12 soon which will be an huge improvement. ATH this year gets broken.

How do you attribute the halving to the recent price increase? There has been some positive news coming out recently in the Press, that might have increased investor confidence, but the Halvening is pure speculation at this time. I think we should rather avoid hyping the Halvening and just see what will happen.

A lot of things can still happen until then.

[DimensionZ]

By how much do you guys think the price will increase after the halving if it ever increases?

[Herbert2020]

i think the exact day of halving is not important because the effect of block halving is not going to take place at the exact time of the halving.

the effects (the big rise because of it) which everybody is hoping for can happen either before or after that time with a month difference. but it will happen for sure.

[NorrisK]

I imagine a lot of speculators are already buying up bitcoin in anticipation of a price rise.....

I don't think they have even started buying. The blocksize "war" has actually slowed down the growth in confidence...

This. And the fact that the halving will not influence the final price by a lot as there is no reason for it to happen.

Unless miners dumped say 50% of mined coins daily and will continue doing that after halving, which means 25% of current supply, than it might be notible that there are less coins on the sell orderbook. But I doubt this is how the miners sell their coins anyway.