HODL Reminder: Bitcoin Halving is just around 454 days away!

[isidad]

I will continue to HODL until my bitcoin makes me a millionaire in dollars.

[1715471732]

1715471732

[jseverson]

Is there are direct correlation between Bitcoin halving and Hodl ideology? Did last halving in 2016 had direct influence to Bitcoin price? I think that halving is mainly important to miners and I think that upcoming halving shouldn't be an important reason to hodl.

There is some correlation. Let's take this article as an example:

What makes bitcoin price analysis more complex are the technical events programmed into the distributed network. One such major technical event – a Bitcoin block reward halving – took place in 2016. If 2012’s halving is to be used as a benchmark, the Bitcoin price could garner many headlines in 2017.

This was written in 2016 after the halving, and Bitcoin price did make the headlines at 2017's end. There's no immediate impact, but halvings have preceded wild bull runs thus far (twice). Correlation doesn't imply causation so nothing is certain, but there absolutely is reason to be optimistic.

[jsecoinfan]

Nowadays most people hold their tokens because all believe that bitcoin will go up again but I didn't make decision yet because I don't have tokens)

[Dogtanian]

"Just" 650 days?  . I think the next halving will have an effect on bitcoin, just as the demand is still there for it. I hope bitcoin has already multiplied by then though. I guess onyl time will tell.

I will continue to HODL until my bitcoin makes me a millionaire in dollars.

And what if it never gets there? Or it stops at $999999.99 and then crashes? A million is such an arbitrary number I wouldn't peg all your hopes and dreams on it.

[Kakmakr]

The only thing that "halvings" does is waking up the major news media outlets, because they have something sensational to publish. The pumpers will then jump on the back of that and they will pump the shit out of that, to increase the price. This is just a short-term price increase opportunity and should not be seen as the ultimate event that would keep the price inflated. Shortly after the hype has died down, the price goes down again.

We are looking for events and projects that would permanently push adoption upwards and this will give us an sustained increase in the price over a much longer time period. What Killer Application can you think of that would give us that?

[Sutters Mill]

The only thing that "halvings" does is waking up the major news media outlets, because they have something sensational to publish. The pumpers will then jump on the back of that and they will pump the shit out of that, to increase the price. This is just a short-term price increase opportunity and should not be seen as the ultimate event that would keep the price inflated. Shortly after the hype has died down, the price goes down again.

Really? I don't think that this is the case at all. Bitcoin halving is always a big deal, because the amount of coins that come into circulation literally gets halved. That's a huge figure and lowers the supply and in theory if the demand is still there and growing the value will keep rising. Classic supply and demand theory. Bitcoin being pre-planned to be limited and issued in a fixed amount that lowers every four years is one of the defining features and why it gets rarer over time (assuming demand is still there and/or growing). You can worry about 'pushing it into the mainstream' later and those things will come gradually, but the coins being scarcer is one way that helps everyone who holds them and is the way bitcoin was designed to be and it's why it's a big deal.

[Kakmakr]

The only thing that "halvings" does is waking up the major news media outlets, because they have something sensational to publish. The pumpers will then jump on the back of that and they will pump the shit out of that, to increase the price. This is just a short-term price increase opportunity and should not be seen as the ultimate event that would keep the price inflated. Shortly after the hype has died down, the price goes down again.

Really? I don't think that this is the case at all. Bitcoin halving is always a big deal, because the amount of coins that come into circulation literally gets halved. That's a huge figure and lowers the supply and in theory if the demand is still there and growing the value will keep rising. Classic supply and demand theory. Bitcoin being pre-planned to be limited and issued in a fixed amount that lowers every four years is one of the defining features and why it gets rarer over time (assuming demand is still there and/or growing). You can worry about 'pushing it into the mainstream' later and those things will come gradually, but the coins being scarcer is one way that helps everyone who holds them and is the way bitcoin was designed to be and it's why it's a big deal.

Yes, it is a big deal for a week or two and then everything goes back to normal, because it becomes old news. A lot of the impact is priced in before the halving takes place. So you will see a slight increase in the price, prior to the event and then a higher price increase when this event gets some publicity and then the price slowly decrease to the price where it was before the hype started.

Just go back to the previous event and look at the price history. Everyone thought it was going to have a massive impact and we were very disappointed. ^grrrrrr^

[Gaselemeg]

Sent you 1 Merit point because HODLING is a very good idea & a near certain way to guarantee great profits in bitcoin

Holding is good idea indeed.
But you can't hold 4life right? Someday the time will come to sell. The most important question that worries me is how to understand that this time has come?

[chocolah29]

~
Just go back to the previous event and look at the price history. Everyone thought it was going to have a massive impact and we were very disappointed. ^grrrrrr^

Knowing how media and whales work with each other, you'll might be enlighten. It's just noticeable that the whales are just using the halving issue to push through the price and with the help of media mainstream they can disseminate small issues into a big and more complex issues. And in return the price will fully manipulated.

If you can remember last year, there's a lot of fuds about halving and idiots are spreading like a wild fire.

[Kakmakr]

~
Just go back to the previous event and look at the price history. Everyone thought it was going to have a massive impact and we were very disappointed. ^grrrrrr^

Knowing how media and whales work with each other, you'll might be enlighten. It's just noticeable that the whales are just using the halving issue to push through the price and with the help of media mainstream they can disseminate small issues into a big and more complex issues. And in return the price will fully manipulated.

If you can remember last year, there's a lot of fuds about halving and idiots are spreading like a wild fire.

I am not dismissing the fact that the halving has a impact on the price, but I am saying this is just a temporary thing and people quickly forget what the long-term impact of this means. When you reduce the Block reward by 50%, you also reduce the supply of coins to the market and this will push up the price, IF the demand stays the same.

We must rather focus on increasing the demand, because the halving means nothing if the demand drops. OP, just gave us a reminder that there are still events that will push up the price in the future, but that will only happen if the demand stays the same or if it increase. 

[Determan]

Interesting what will happen with blockchain when all bitcoins will be mined. Transactions between bitcoin wallets won't work?

[TryNinja]

Interesting what will happen with blockchain when all bitcoins will be mined. Transactions between bitcoin wallets won't work?

It's obvious that they will. First of all, this will only happen in 2140 (nobody here will be alive, so don't worry too much about it).

Instead of getting paid with the block rewards + mining fees as an incentive to keep mining, they will get only get paid with the mining fees, which should be enough (we hope so).

[odolvlobo]

.. the amount of coins that come into circulation literally gets halved. That's a huge figure and ...

At the next halving, there will be a little more than 18 million BTC, and the production will drop by 328,000 per year, which is only 1.8% of the total. Not huge.

... and lowers the supply and in theory if the demand is still there and growing the value will keep rising. Classic supply and demand theory. ...

Your claim is not "classic supply and demand" because you are confusing production with supply.

It is true that production is halved; however the supply will not be lower as a result of the halving. The money supply rises every ten minutes until it reaches 21 million. It never goes lower. Furthermore, as the money supply increases, so does the market supply. If you do not believe that statement, then I urge you to compare the current exchange volume to exchange volumes before the first halving.

If none of that convinces you, then at least consider this: The exchange volume is currently about 600,000 BTC per day. There will be 900 fewer new bitcoins per day after the halving. You cannot seriously argue that a change of 900 BTC out of 600,000 BTC will have any noticeable effect on the market.

... it gets rarer over time (assuming demand is still there and/or growing). ... but the coins being scarcer ...

As I have already pointed out, bitcoins don't get rarer or more scarce. The number of bitcoins continues to increase until it reaches 21 million. I think you mean "more expensive" rather than "rarer" or "scarcer".

[r1s2g3]

It does not mean how rare or scarce the thing is. If something does not have any practical utility then it is waste.
Bitcoin will get real value or surge if LN come on existence. If some big retail chain start  accepting as a payment.
Block halving will not help to gain the price , but some real application will surely do.

Just a 2 minute read for you guys.
https://bitcointalk.org/index.php?topic=4963287.msg44753415#msg44753415

[blockchain2k]

Updated the title from 650 to 454 days left! The days are getting closer and I can already notice people using this event as means to hype up the crowd for a radical price increase.

[DdmrDdmr]

Updated the title from 650 to 454 days left! The days are getting closer and I can already notice people using this event as means to hype up the crowd for a radical price increase.

If you want to change the title, then you need to do it in the OP. Currently you've only changed it on your bump post, but not on the OP ...

Edit: Ok, I've seen that you've now applied the change to the OP.

[blockchain2k]

Updated the title from 650 to 454 days left! The days are getting closer and I can already notice people using this event as means to hype up the crowd for a radical price increase.

If you want to change the title, then you need to do it in the OP. Currently you've only changed it on your bump post, but not on the OP ...

Hi DdmrDdmr. Thank you for clearing this up! Just made the edit in the OP.

[Hivalley]

Interesting what will happen with blockchain when all bitcoins will be mined. Transactions between bitcoin wallets won't work?

Definitely they will, I do not know if there would be radical changes really,but all we can do is see what happens when it happens.
The only certainly is in the rewards for miners, no more bitcoin rewards,only fees from transactions.
But it's general effect on the bitcoin is vague to me for now

[Lucius]

There is no doubt that the next halving will have some impact on price, which will affect the price before halving itself but also months after the halving. I think it is not so important from the point that reward per block will reduce to only 6.25 bitcoin, at least not for short term. What actually raises the price up is supply&demand, but if there is no demand or it is too low as it is today, then we stay in bear market.

Halving is just one event which happens every 4 years, and it is playing a significant role in how much miners will be rewarded per block. But we need adoption - more people to start invest / using bitcoin, and then halvings will work in our favor.

[crairezx20]

Block halving is too far yet so if we got an opportunity to sell then it is better to sell just like what happened these days after the price increase in a few days the price drop just today if we bought bitcoin at $3400 we already made a good profit of $600 when the price hit $4k.

So don't waste the opportunity to make a profit because we don't know what will happen this coming block having.

Maybe start holding coins on 2020 January and hold them until block halving is fine.