pushups44
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May 29, 2019, 02:55:01 AM |
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Next year, there will the scheduled halving of Bitcoin. For people who are still new, the term can be a little dizzy. To make it clearer: In case you are wondering, this means that the number of Bitcoin issued per each block, mined every ten minutes, will fall from 12.5 BTC to 6.25 BTC. In other words, this reduction of 50% will cut the block reward given to miners in half and further slow the production of Bitcoin’s finite supply. Source.
So this has something to do with the supply. The rewards available for miners is effectively reduced into half...or 50% less. This can slow down the production of more bitcoin coming from the side of the miners. And this is the reason why some analysts are predicting that after and even before the scheduled halving, bitcoin can experience a great surge or a real bull run. Do you see this as a big probability or just another hype? This is one of those situations in which expectations become a self-fulfilling prophecy. There will be so many people and institutions going long that they will likely create a tsunami effect drowning shorts and forcing them to cover, creating a cascade effect to higher highs. The past history of bitcoin shows we are entering into an extremely bullish phase.
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pooya87
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May 29, 2019, 03:05:15 AM |
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This is one of those situations in which expectations become a self-fulfilling prophecy. There will be so many people and institutions going long that they will likely create a tsunami effect drowning shorts and forcing them to cover, creating a cascade effect to higher highs. The past history of bitcoin shows we are entering into an extremely bullish phase.
one view over the market is that we are always in a bullish phase since if you look at the past 10 years history (long term) of bitcoin you can see that price has been rising from first day to this day and all the drops in between are negligible corrections and they mainly happen due to the bubbles that slow down the rise.
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killat
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May 29, 2019, 04:03:18 AM |
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Why you think Btc should Rise? Facebook coin coming up, potentially Google, then All of those big Corps as well, maybe Amazon too. I think Crypto should FALL in price... I mean total Capitalization in Crypto will Rise, but Bitcoin will lose it's market share... 98% of the people, won't ever buy Bitcoin but I'm sure they will trust Google/Amazon/FB coins much more, surely they will get a chance of CHARGEBACK/ Dispute/consumer protection, if somebody steal their funds or break the contract..
Bitcoin have ZERO protection, like if you send Coins and never received stuff you paid for? What can you do? What is your options? NONE. Capitalization in CRYPTO will spread..There will be no 100k Bitcoin and 2k Litecoin nonsense... Picks are already behind us... I see ZERO reason to pay 8k for BTC.. Why?
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philipma1957
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May 29, 2019, 04:14:59 AM |
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Why you think Btc should Rise? Facebook coin coming up, potentially Google, then All of those big Corps as well, maybe Amazon too. I think Crypto should FALL in price... I mean total Capitalization in Crypto will Rise, but Bitcoin will lose it's market share... 98% of the people, won't ever buy Bitcoin but I'm sure they will trust Google/Amazon/FB coins much more, surely they will get a chance of CHARGEBACK/ Dispute/consumer protection, if somebody steal their funds or break the contract..
Bitcoin have ZERO protection, like if you send Coins and never received stuff you paid for? What can you do? What is your options? NONE. Capitalization in CRYPTO will spread..There will be no 100k Bitcoin and 2k Litecoin nonsense... Picks are already behind us... I see ZERO reason to pay 8k for BTC.. Why?
the value of gear that uses power and pays coins. Is a real thing it is tangible . Take the power station at Niagara Falls. The USA and Canadian plants produce power 24/7/365. The water flows and flows and flows. Sometimes long rains make more flow and more power. So they have excess power btc burns the power. That is a factual real value. All pos coins simply lack this ability. So an amazon coin or a Facebook coin would need to be a POW coin to have that ability . They would then need to build enough gear for the al gore rhythm to be able to burn enough excess power To help the world wide power grid stay stable. I suppose it could happen. But it may not. Maybe the winklevoss twins are just looking to set face book up for a fall.
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Abiky
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June 07, 2019, 02:21:16 AM |
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Not a hype, it is pure Math. BTC will be scarce due tovhalving but there will be more demand than today. SO A COMMON rules of economics, price grows if demand rises. No one will ever miss any chance to accumulate btc before halving. Cause more electricity will be burnt in future to mine btc. Less mining reward will make btc more valuable
Exactly. Based purely on mathematics, should give us an insight of how much Bitcoin will be worth in the future. Intentionally, Satoshi designed Bitcoin so that it becomes scarcer over time with its deflationary issuance of coins via PoW mining. Every time there's a halving in the number of Bitcoin issued via PoW, prices seem to rise at unprecedented levels. This usually happens on or before the halving takes place, which means that we may be experiencing higher prices by next year (2020). Because of Bitcoin's similarities to Gold, I'd say that it's not hype to speculate on its price. The pioneer cryptocurrency serves well as a store of value which is decentralized and censorship-resistant. While theoretically Bitcoin should rise in price over time, its value is greatly determined by the users themselves. Hence, Bitcoin could either rise in price within the halving event or simply remain within the same price range we're used to (between $7,500 to $8,000). Just my opinion ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Kwansimaa
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June 07, 2019, 05:29:12 AM |
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This is no hype mate, bitcoin will surely take another bull run when the halving finally takes place. This is a great opportunity to buy and invest into bitcoin before it peaks in 2020 when the halving finally takes place.
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Whaletale
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June 07, 2019, 05:39:05 AM |
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The halving is another way for hype which will make the miners to get more funds from the mining to cover the expense in running the business.
Which equally means that every cost on the current mining will be same but the gain from the mining will be cut in to 50% which gives reasonable account for the btc to surge in other to cover the cost of running.
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Achargeturry78
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June 07, 2019, 06:34:21 AM |
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A lot of speculation in this thread, Yeah i agree on most of you on the hype from the halving past halving gives hype to the market that it boost the price unto 1000x its value on 2012. But bitcoin has a volatile price when it is on the market. We already know that bitcoin is getting more and more attention to the public even the government wants to add taxes when it comes to bitcoin transactions on the market. There are no other ways to find out on how this price will go when the halving will occur.
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CryptoBry (OP)
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June 07, 2019, 10:40:26 AM |
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The halving is another way for hype which will make the miners to get more funds from the mining to cover the expense in running the business. Which equally means that every cost on the current mining will be same but the gain from the mining will be cut in to 50% which gives reasonable account for the btc to surge in other to cover the cost of running.
I am now wondering if miners are partly responsible for the hypes that will happen as the halving is coming as it is on their pocket interest that bitcoin really go up while the incentives from mining is cut half. I understand that if the actual price of bitcoin is lower than the cost, miners will themselves buy more bitcoin on the market for holding.
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Shenzou
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June 07, 2019, 10:55:48 AM |
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Next year, there will the scheduled halving of Bitcoin. For people who are still new, the term can be a little dizzy. To make it clearer: In case you are wondering, this means that the number of Bitcoin issued per each block, mined every ten minutes, will fall from 12.5 BTC to 6.25 BTC. In other words, this reduction of 50% will cut the block reward given to miners in half and further slow the production of Bitcoin’s finite supply. Source.
So this has something to do with the supply. The rewards available for miners is effectively reduced into half...or 50% less. This can slow down the production of more bitcoin coming from the side of the miners. And this is the reason why some analysts are predicting that after and even before the scheduled halving, bitcoin can experience a great surge or a real bull run. Do you see this as a big probability or just another hype? Well obviously when we are talking about reducing the amount of bitcoin supply available for people to get we are talking about an increase in demand, and this demand will eventually lead to an increase of price, many speculate that this increase is going to happen prior to the halving next year, i my guess is that most investors and the ones who really think that it will surge will start to stock up on it start from the last quarter of this year which makes me think that we might see bitcoin reach its highest value yet by next year when this happens.
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agatha90
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June 07, 2019, 12:10:34 PM |
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Follow the historical pattern of increasing Bitcoin past, indeed after or before Halving Day, the price of Bitcoin rose high. The third halving day is expected to fall in May 2020. This reduction will have an impact on the availability of Bitcoin as a whole, so that Bitcoin has the potential to become more expensive, because it allows demand to exceed the supply in the market.
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BeManga
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June 07, 2019, 01:22:29 PM |
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Next year, there will the scheduled halving of Bitcoin. For people who are still new, the term can be a little dizzy. To make it clearer: In case you are wondering, this means that the number of Bitcoin issued per each block, mined every ten minutes, will fall from 12.5 BTC to 6.25 BTC. In other words, this reduction of 50% will cut the block reward given to miners in half and further slow the production of Bitcoin’s finite supply. Source.
So this has something to do with the supply. The rewards available for miners is effectively reduced into half...or 50% less. This can slow down the production of more bitcoin coming from the side of the miners. And this is the reason why some analysts are predicting that after and even before the scheduled halving, bitcoin can experience a great surge or a real bull run. Do you see this as a big probability or just another hype? its not another hype .. it always happen in bitcoin before or after halving and i think it will also happen in this incoming halving.. the price drop when there not enough support to buy the bitcoin dump by the miner. when halving occur miner will get less bitcoin if its not enough for the demand the price will really rise.
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veleten
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June 07, 2019, 03:50:38 PM |
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it is too early to hype on the halving it ain't happening for another year at the very least but we all know that despite all the fud , it influences the price greatly , it could happen after a month or a week before the halving but if you checked the price graphs - there is a clear indication that it rises every time this one should not be an exception
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XCANA
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June 07, 2019, 03:55:20 PM |
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This is no hype mate, bitcoin will surely take another bull run when the halving finally takes place. This is a great opportunity to buy and invest into bitcoin before it peaks in 2020 when the halving finally takes place.
Agree with you mate becasue the current rise in the price of Bitcoin is as a result of the dip we experienced during last year 2018. This year 2019 has been a correction year toward the halve before the bull run. Speculation is also part of the game and we shouldn't shine away from the truth. Even the Bitcoin halve will come after the actual date stipulated for the halve to take place, so, get ready for the bigger scene again.
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blockchainwriters
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June 07, 2019, 05:42:13 PM |
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Bitcoin halving is most important event which comes every four years so considering the importance whales pump btc to highest point so its the time to book profits
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Vishnu.Reang
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June 07, 2019, 06:14:55 PM |
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I think that the impact halving can have on the prices is over-hyped. Right now, approx. 1,800 coins are being mined per day. After the block reward halving, this will get reduced to around 900 coins per day. But even the current mining volume represents just about 0.1% of the daily transaction volume. I don't think that the prices will get impacted by a reduction of 0.1% of coins.
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BitHodler
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June 07, 2019, 07:15:51 PM |
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I think that the impact halving can have on the prices is over-hyped. Right now, approx. 1,800 coins are being mined per day. After the block reward halving, this will get reduced to around 900 coins per day. But even the current mining volume represents just about 0.1% of the daily transaction volume. I don't think that the prices will get impacted by a reduction of 0.1% of coins.
The price only has to increase by 100% to make up for the cut in the block rewards, else the difficulty will adjust itself to lower levels so that mining can still be profitable with only half the block rewards. I do however agree that block halvings in general are quite overhyped, but there isn't much that you can do about it. People love to buy coins that go up, and when Bitcoin is going up, they'll jump in further exaggerating the increase. Litecoin's block halving is about two months away. It went from $20 to now $120 which should have the block halving priced in, but as irrational people are, it's very likely going to pump way beyond $120 in the coming weeks.
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monalia
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June 07, 2019, 07:31:51 PM |
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I think that the impact halving can have on the prices is over-hyped. Right now, approx. 1,800 coins are being mined per day. After the block reward halving, this will get reduced to around 900 coins per day. But even the current mining volume represents just about 0.1% of the daily transaction volume. I don't think that the prices will get impacted by a reduction of 0.1% of coins.
How come you say the reduction of mining volume will not affect the market value. I am sure you need to look back the previous halving and how it has impacted the market that time. If you are fine, you do not need to care the marketvalue or something and invest after the halving time. Don't invest now.
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cryptjh
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June 07, 2019, 08:56:40 PM |
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I think that the impact halving can have on the prices is over-hyped. Right now, approx. 1,800 coins are being mined per day. After the block reward halving, this will get reduced to around 900 coins per day. But even the current mining volume represents just about 0.1% of the daily transaction volume. I don't think that the prices will get impacted by a reduction of 0.1% of coins.
The miners can already now find buyers to all the bitcoins they mine and want to sell, so when half of the bitcoins they can sell disappears, we will see a price increase from less supply. The halving event is already now starting to be calculated into the market. Also remember that most of the daily trade is the same bitcoins that getting sold over and over again, back and forward from the same fiat or stable coins. The market needs a new inflow of fiat to be able to buy up the miners coins, and when the market will get 900 fewer bitcoins to sell each day, the price of the remaining bitcoins will also increase.
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Abiky
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June 08, 2019, 02:59:59 AM |
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it is too early to hype on the halving it ain't happening for another year at the very least but we all know that despite all the fud , it influences the price greatly , it could happen after a month or a week before the halving but if you checked the price graphs - there is a clear indication that it rises every time this one should not be an exception
Agree. There's still time before the halving occurs within the Bitcoin blockchain. While it's early to tell whenever prices will rise or fall by then, previous events indicates us that it's very likely that Bitcoin will rise in price by a large margin. It's not about hype, but rather mathematics in the way Bitcoin's supply is deflationary. With good timing, we'll be able to benefit in the next halving if we buy now while prices are cheap. Perhaps, Bitcoin will be worth $10,000 by 2020's halving event. But, it's important to keep watch at current price movements across the market just to be safe. With the known volatility of Bitcoin, it's highly uncertain to determine its value. Nonetheless, there will be lots of excitement once Bitcoin's next halving becomes a reality. Just my opinion ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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