amphibian (OP)
Member
 Offline
Activity: 210
Merit: 10
|
 |
August 28, 2018, 04:00:18 PM |
|
For quite sometime now I have been secretly praying and hoping that Bitcoin doesn’t rush with this upward trend.
I do not think the miners will be able to keep supporting bitcoin mining if the price goes below 6000$.
Hopefully my prayers seem to have been answered as I can see an organic in bitcoin value to 7000$ for a while. Do you think this is an organic rise in bitcoin value and is it likely to remain within the ranges of 7000$ without dropping? Share your emotions and opinions guys!
|
|
|
|
|
|
|
|
Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
BrewMaster
Legendary
Offline
Activity: 2114
Merit: 1292
There is trouble abrewing
|
|
August 28, 2018, 04:06:27 PM |
|
if miners can't make ends meet in case of a price drop then they will shut down their miners. but this is not something that happens for all of them. only some miners are affected and as a result only some of them shut down their miners while others continue mining.
and as this happens, difficulty comes down and things go back to normal.
|
There is a FOMO brewing...
|
|
|
Retty
Member
Offline
Activity: 154
Merit: 47
|
|
August 28, 2018, 04:14:52 PM |
|
Glad you brought this up actually, i was wondering the same thing. I was a little concerned that if the price dropped then it would be catastrophic because of what you mentioned. The other thing that kind of worries and excites me at the same time is- what happens when the halving starts in 2020? Miners will be receiving half the reward for mining so what does that mean? Does the price of Bitcoin have to be very high (higher than what it is now which i expect) to make mining profitable? Or does it mean that its not going to be financially worth it if it hasn't reached these levels? If anyone could enlighten us i'd be grateful!  |
|
|
|
|
|
peter0425
|
|
August 28, 2018, 04:30:14 PM |
|
For quite sometime now I have been secretly praying and hoping that Bitcoin doesn’t rush with this upward trend.
I do not think the miners will be able to keep supporting bitcoin mining if the price goes below 6000$.
Hopefully my prayers seem to have been answered as I can see an organic in bitcoin value to 7000$ for a while. Do you think this is an organic rise in bitcoin value and is it likely to remain within the ranges of 7000$ without dropping? Share your emotions and opinions guys!
I really do like your optimism about bitcoin, however, I don't agree that your prayers have been answers. I mean there's no divine intervention that I'm seeing. As far as organic , I doubt that we are going to see that, this market is prone to manipulation. I'm not saying that I don't like the price increased, I'm very bullish about it, but its hard to take away some manipulation from behind because the price suddenly increases like $300 in less than an hour if I'm not mistaken. |
▄▄████████▄▄
▄▄████████████████▄▄
▄██████████████████████▄
▄█████████████████████████▄
▄███████████████████████████▄
| ███████████████████▄████▄
█████████████████▄███████
████████████████▄███████▀
██████████▄▄███▄██████▀
████████▄████▄█████▀▀
██████▄██████████▀
███▄▄████████████▄
██▄███████████████
░▄██████████████▀
▄█████████████▀
█████████████
███████████▀
███████▀▀ | | | Mars,
here we come! | ▄▄███████▄▄
▄███████████████▄
▄███████████████████▄
▄█████████████████████▄
▄███████████████████████▄
█████████████████████████
█████████████████████████
█████████████████████████
▀███████████████████████▀
▀█████████████████████▀
▀███████████████████▀
▀███████████████▀
▀▀███████▀▀ | ElonCoin.org | │ | | .
| │ | ████████▄▄███████▄▄
███████▄████████████▌
██████▐██▀███████▀▀██
███████████████████▐█▌
████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄
███▀░▐███▀▄█▄█▀▀█▄█▄▀
██████████████▄██████▌
█████▐██▄██████▄████▐
█████████▀░▄▄▄▄▄
███████▄█▄░▀█▄▄░▀
███▄██▄▀███▄█████▄▀
▄██████▄▀███████▀
████████▄▀████▀█████▄▄ | .
"I could either watch it
happen or be a part of it"
▬▬▬▬▬ |
|
|
|
BitcoinNewbie15
Sr. Member
Offline
Activity: 574
Merit: 296
Bitcoin isn't a bubble. It's the pin!
|
|
August 28, 2018, 04:34:57 PM |
|
Glad you brought this up actually, i was wondering the same thing. I was a little concerned that if the price dropped then it would be catastrophic because of what you mentioned. The other thing that kind of worries and excites me at the same time is- what happens when the halving starts in 2020? Miners will be receiving half the reward for mining so what does that mean? Does the price of Bitcoin have to be very high (higher than what it is now which i expect) to make mining profitable? Or does it mean that its not going to be financially worth it if it hasn't reached these levels? If anyone could enlighten us i'd be grateful! This is why Bitcoin has such a genius design, as Bitcoin will always find equilibrium in some way. After the halving, the price ideally should be higher. However, if it is not higher, and mining becomes unprofitable, then some miners will likely leave the chain. As more miners leave, it actually becomes more profitable for the miners that stay mining. The reason for this is because the remaining miners now have a higher chance of solving the next block, since they control a higher percentage of the hash rate now. The difficulty would also adjust downwards, making it easier to mine blocks and further increasing profitability. Once profitability is high enough, whatever miners that left the chain in the first place will come back to earn said profit. So even if Bitcoin's price goes below the cost of mining, if miners do leave, whatever miners stay will get better odds of finding the next block and therefore higher profitability. Difficulty would also adjust downwards, and make it much easier for those miners to solve the blocks. |
|
|
|
|
LinkinPrak852
Newbie
Offline
Activity: 238
Merit: 0
|
|
August 31, 2018, 01:13:04 PM |
|
I can’t surely tell you that because everything in bitcoin is very unpredictable. If SEC accept the ETF of bitcoin than we can assume that the price may rise more than $7000. Let’s just hope that whether it is approve or not the price may remain this for a while.
|
|
|
|
|
jamesbondbd007
Newbie
Offline
Activity: 112
Merit: 0
|
|
August 31, 2018, 01:42:21 PM |
|
The cryptocurrency market is very unstable. Mining Bitcoin is risky but there's no profit without taking risks. I hope that the price of Bitcoin will not fall this time. Let's see what happens.
|
|
|
|
|
Teawhalee
Copper Member
Jr. Member
Offline
Activity: 482
Merit: 1
|
|
August 31, 2018, 01:48:13 PM |
|
No one can really say if it will drop or not, what we can say is to give speculations about what we feel can happen and it's a 50:50 event which might later not happen. But i am sure there is no constant uptrend, if it rises, expect it to fall. If it falls, expect it to rise. So no panicking or fudding.
|
|
|
|
KingKongBong4152
Newbie
Offline
Activity: 70
Merit: 0
|
|
August 31, 2018, 02:01:49 PM |
|
Now the condition of this market is very much volatile and in the light of this present situation, we cannot say that this increase is organic and it is also very difficult to give assurance the price level in this market. We are hopeful that price will continue to rise more.
|
|
|
|
|
|
bigdude
|
|
August 31, 2018, 02:07:07 PM |
|
We can't prediction price in the market as you know. Everything just hopes and gut feeling. And in the financial market, the gut feeling usually kill us lots.
btw, i believe whale will dont let bitcoin dump to below 6k as people wishes
|
|
|
|
Sexie
Member
Offline
Activity: 420
Merit: 10
|
|
August 31, 2018, 02:07:35 PM |
|
For quite sometime now I have been secretly praying and hoping that Bitcoin doesn’t rush with this upward trend.
I do not think the miners will be able to keep supporting bitcoin mining if the price goes below 6000$.
Hopefully my prayers seem to have been answered as I can see an organic in bitcoin value to 7000$ for a while. Do you think this is an organic rise in bitcoin value and is it likely to remain within the ranges of 7000$ without dropping? Share your emotions and opinions guys!
Bitcoin is volatile, so we can not say that the price will not going to drop sometimes. If you invest by that amount, you should not be afraid of the dropping but then you should also be glad that you can invest more bitcoins. On the other hand, bitcoin will not disappoint any investor, as long as you have patience to wait. And I think miners will always be supportive because they that bitcoin price will always going up. |
|
|
|
Sethrey
Jr. Member
Offline
Activity: 916
Merit: 1
|
|
August 31, 2018, 02:12:09 PM |
|
It will never happen that most of the miners will stop mining. As I mentioned there are more and more new miners who are maybe not so professional in the topic, but they will not stop for sure as most of them hope for better. That's why there's no reason for panic.
|
|
|
|
|
kabir ullah
Newbie
Offline
Activity: 41
Merit: 0
|
|
August 31, 2018, 02:19:06 PM |
|
There was a bad condition for bitcoin and there user. But the prices is recover it is a good news but we need to be concern all should be concern to invest but hope it will be stable.
|
|
|
|
|
easycoin995
Newbie
Offline
Activity: 98
Merit: 0
|
|
August 31, 2018, 02:30:45 PM |
|
We are seeing such increase in the price of bitcoin from the starting of the year. The market is very much volatile this year and it is in continuous mood. Considering this, we cannot say that this increase is organic. But we can expect that this level will not go down rather will increase.
|
|
|
|
|
cryptocooper57
Newbie
Offline
Activity: 392
Merit: 0
|
|
August 31, 2018, 03:14:38 PM |
|
Commenting whether the increase is organic or not will be tough because of the volatility of the market. Plus giving an assurance of the price level is tough too. But we do hope that the price will increase.
|
|
|
|
|
|
bobo012
|
|
August 31, 2018, 03:31:16 PM |
|
For quite sometime now I have been secretly praying and hoping that Bitcoin doesn’t rush with this upward trend.
I do not think the miners will be able to keep supporting bitcoin mining if the price goes below 6000$.
Hopefully my prayers seem to have been answered as I can see an organic in bitcoin value to 7000$ for a while. Do you think this is an organic rise in bitcoin value and is it likely to remain within the ranges of 7000$ without dropping? Share your emotions and opinions guys!
Miners are hedging their bets with futures. That way they can stay liquid and pay their bets in prolonged bear markets and conditions we are having now with the profitability. Ofcourse that isnt true for the small miners, they cant endure this conditions, and will have to go bust |
|
|
|
|
|
pedagang2
|
|
August 31, 2018, 03:31:47 PM |
|
if in my opinion this is normal, because if the price remains stable it will not be called the crypto market. so that's what the market calls for.
sometimes it can rise dramatically and sometimes it can also drop dramatically.
|
|
|
|
|
dark1234
|
|
August 31, 2018, 03:43:45 PM |
|
For quite sometime now I have been secretly praying and hoping that Bitcoin doesn’t rush with this upward trend.
I do not think the miners will be able to keep supporting bitcoin mining if the price goes below 6000$.
Hopefully my prayers seem to have been answered as I can see an organic in bitcoin value to 7000$ for a while. Do you think this is an organic rise in bitcoin value and is it likely to remain within the ranges of 7000$ without dropping? Share your emotions and opinions guys!
Definitely not. Dynamics of bitcoin volatility will remain unchanged until the end of the year. Another question is why do you think miners will stop serving bitcoin when its amount drops below$6,000? In my opinion, this statement has no basis. mining will have to run even though we know the price some time ago is very vulnerable but they will not benefit by leaving the addition because this is a marketplace unless they are miners who are still bar... |
|
|
|
Babatunde1989
Newbie
Offline
Activity: 182
Merit: 0
|
|
August 31, 2018, 03:51:56 PM |
|
To me That way they can stay liquid and pay their bets in prolonged bear markets and conditions we are having now with the profitability. Ofcourse that isnt true for the small miners, they cant endure this conditions.
|
|
|
|
|
KingKongBong4152
Newbie
Offline
Activity: 70
Merit: 0
|
|
August 31, 2018, 03:56:40 PM |
|
The drop in price hasn't only affected you, I personally know a lot of people, most of them are newbies and they got so scared that they sold their coins for huge loss. Thankfully, the situation is changing again, though it is recovering slowly but that is good for Bitcoin, a sudden rise would have needed another correction and it would create more panic.
|
|
|
|
|
|
