Halving = Less Miners = Slower Transactions

[Cuidler]

Why would miners invest so much into electricity for half the reward? I see this ending badly

As long as miners are profitable, there is no reason to stop burning electricity in exchange for Bitcoin. But some miners stop being profitable after halving, thats for sure for the older gen equipment. But given the price about doubled since start of the year, I dont predict much dip in hashrate after halving, thus slower transactions before next dificulty retarget in a bit over one week happens. But lets see instead the next days Bitcoin hashrate whos right.

[mentaken]

If/when the price will increase to lets say $800 miners who are leaving right now will jump back. Bitcoin is a self-regulating system, I'm sure everything will be fine.

You are talking about the bitcoin prize. That prize is created by fuzz, it's not self-regulating.

[Bitcoinstalker.com]

Just tell me this: If miners get less reward, does the transaction fees decrease?

No. Miners are free to charge you whatever they wish. Since they get only 1/2 the coins (12.5 BTC) for solving a block, they may wish to make up for that in fees. Or not.

Also, with less miners, will transaction time elongate or with half the total bitcoins, will the transaction time decrease? Along with halving, are cold wallets with no balance about to be removed?

When miners go offline, hashrate goes down, blocks will take longer to solve, and transactions take longer to confirm. This will be compensated for at the next difficulty adjustment, which will happen after 2016 blocks are solved. https://en.bitcoin.it/wiki/Difficulty

If you want the boring stuff, some more details:
1. Miners don't have to include your transaction, so if you didn't include a high enough tx fee, or they simply don't feel like it, your tx won't be included in the next solved block.
2. Difficulty is not adjusted continuously, but only once every 2016 blocks. If enough miners go offline at once, the difficulty doesn't immediately go down. see my previous post.

[LiberOptions]

Mining will always be profitable. The thing is that today, if you want to get into mining you need to make a big investment otherwise you won't ROI. There's always new mining hardware coming out, you just need to invest big...

[toptek]

I'll keep doing it .!! it's still kind of the best way to get fast cash . tell me any  other way of making cash were you do all most nothing no selling etc just keep up with the gear etc .. so ill keep doing it till im dead or btc die which the way it's going won't happen in my life time.

what's left 124 years by then who knows ?. i won't.

[TKeenan]

Bottom line is halving is not going to be good news, just watch how the transactions slow down folks
Slow transactions = scares people away

So stupid - it hurts.  Before halving, we have 6MB of transactions every hour.  After halving, we have 6 MB of transactions every hour.  

Where is the slowing?

Could you be more stupid?

ELY5:
The transactions are only confirmed when a block is solved.
At current difficulty, with two miners, the transactions will never get confirmed.
Because a block will never be solved.
Because, with just two miners hashing, it would take many years to solve a block.
You ignorant cunt

"at current difficulty" - no.  nobody said that.  Difficulty is dynamic.  It goes down too.


You are confused totally.  Such a moron.  Each of these two miners bought all the other mining equipment plus a bunch of new equipment and now they each have 2000 PetaHash.  So the blocktime would actually go to less than 5 minutes at current difficultly.  

Nobody said the difficulty will fail to adjust downward.  Your statement are only true if all miners left in a single difficulty adjustment period.  A constraint to which I don't agree.  

You are the highest level of fucktard there is.

[toptek]

Plus that's why there is mining pools so the lesser can keep going if they want to or one of many reasons for pools. !!! but i won't resort to name calling like to but not my nature ill let others.

[vodaljepa]

Plus that's why there is mining pools so the lesser can keep going if they want to or one of many reasons for pools. !!! but i won't resort to name calling like to but not my nature ill let others.

I know right, all I see TKeenan doing is name calling, very immature

[Chris!]

Bottom line is halving is not going to be good news, just watch how the transactions slow down folks
Slow transactions = scares people away

  This didn't happen at the last halving did it? Could you explain that?

Less miners would mean less difficulty. At some point there's going to have to b equilibrium. Some people out there have the newest and best miners out there (Antminer S9) and others will fall behind or get less profit. It's just all part of the balancing act. It's ok. It'll all work out. It did last time

[vodaljepa]

Very mature TKeenan
Your language speaks volumes

[bitdumper]

Satoshi knew what he was doing. Mining is a finely tuned balancing act designed to sustain itself.

i dont think saoshi even expected the price at this range. Today is halving day and i can agree that even with half block reward they are getting huge profit but it effects a lot in pool mining because nowday no one preffers single mining the gets profits faster in pool mining.

[TKeenan]

Very mature TKeenan
Your language speaks volumes

Why don't you just stick to facts and science and forget about all that kumbaya horseshit.  

[Wapinter]

Bottom line is halving is not going to be good news, just watch how the transactions slow down folks
Slow transactions = scares people away

You are right less miners will increase the rate of transaction.Lets wait and see what would its repercussions be

[craked5]

From what I know there is litterally 0 link between number of miners and how fast tx are done.

Less miners mean lower difficulty that's all!

[elviselvis101]

3 blocks.....

[TKeenan]

From what I know there is litterally 0 link between number of miners and how fast tx are done.

Less miners mean lower difficulty that's all!

That is because you know what you are talking about.  The others around here, not so much.  A lot of people with ZERO brains at all.  Bitcoin somehow attracts beggars, thieves and morons.  It is strange.  

[jtipt]

Why would miners invest so much into electricity for half the reward? I see this ending badly

Yes the transactions may be slower but if the miners are less each miner will get more reward

[craked5]

Why would miners invest so much into electricity for half the reward? I see this ending badly

Yes the transactions may be slower but if the miners are less each miner will get more reward

No the transactions will be exactly as fast as before!

Stop spreading FUD guys, this not how btc works Oo

[Bitcoinstalker.com]

Bottom line is halving is not going to be good news, just watch how the transactions slow down folks
Slow transactions = scares people away

So stupid - it hurts.  Before halving, we have 6MB of transactions every hour.  After halving, we have 6 MB of transactions every hour.  

Where is the slowing?

Could you be more stupid?

ELY5:
The transactions are only confirmed when a block is solved.
At current difficulty, with two miners, the transactions will never get confirmed.
Because a block will never be solved.
Because, with just two miners hashing, it would take many years to solve a block.
You ignorant cunt

"at current difficulty" - no.  nobody said that.  Difficulty is dynamic.  It goes down too.


You are confused totally.  Such a moron.  

When miners go offline, hashrate goes down, blocks will take longer to solve, and transactions take longer to confirm. This will be compensated for at the next difficulty adjustment, which will happen after 2016 blocks are solved. https://en.bitcoin.it/wiki/Difficulty

You're angry, my special friend. People are dumping hard & you're gonna get margin called.
I get it, I'd be shitting myself too if I went long.
Cheer up, your money isn't lost. It merely moved to smarter hands. Bitch

[phil9]

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