[2019-12-19] Heard of bitcoin's 'halving'? It's set to shake crypto markets ...

[odolvlobo]

LONDON (Reuters) - If you’re not a bitcoin enthusiast, you probably haven’t heard what’s happening next year: It’s called the “halving”, and it will cut production of the cryptocurrency by 50%.

https://www.reuters.com/article/us-crypto-currencies-halving-idUSKBN1YN19A

Yet another journalist promoting the misconception that the halving reduces the supply of bitcoins. The opening paragraph is correct but the remainder of the article replaces "production" with "supply". The author is then obligated to explain how lower supply and constant demand effect the price.

The article also notes that the price rose in the years following the halvings, but neglects to mention the fact that the price also rose in the years preceding the halvings.

[1715093049]

1715093049

[CryptoBry]

Yet another journalist promoting the misconception that the halving reduces the supply of bitcoins. The opening paragraph is correct but the remainder of the article replaces "production" with "supply". The author is then obligated to explain how lower supply and constant demand effect the price.

And to think that this is published in Reuters. They should be hiring an expert in Bitcoin or cryptocurrency to check the facts and details before clicking publish. I really don't get it why some media people are still in the dark with things that have something to do with Bitcoin. Of course, the halving does not mean that the supply of Bitcoin will be cut in half, that can be absurd. Actually, many people were thinking that way years ago but they realized and laughed to know that this is really referring to the Bitcoin mining rewards. At any rate, any publicity on Bitcoin can still be publicity and can be helping no matter what with its marketing.

[1Referee]

And to think that this is published in Reuters. They should be hiring an expert in Bitcoin or cryptocurrency to check the facts and details before clicking publish.

Reuters is known to publish garbage just as much as other similar outlets do. It's all about efficiency, and when you know that most of their readers are considered dumb money, efficiency means that you can just release articles and "research" papers knowing that people will take it for granted right away.

Why do you think there is so much fake news? It's because the readers falling for that fake news are dumb, and let there be waaaay more dumb people than smart people. It's called news for the mass for a reason.

People somehow also believe that Bitcoin is a deflationary currency, which it currently clearly isn't. The number of coins in circulation has done nothing but grow, so how can that possibly be a deflationary currency? All it takes to realize that is common sense and a very basic level of market understanding.

[joinfree]

And to think that this is published in Reuters. They should be hiring an expert in Bitcoin or cryptocurrency to check the facts and details before clicking publish.

Reuters is known to publish garbage just as much as other similar outlets do. It's all about efficiency, and when you know that most of their readers are considered dumb money, efficiency means that you can just release articles and "research" papers knowing that people will take it for granted right away.

Why do you think there is so much fake news? It's because the readers falling for that fake news are dumb, and let there be waaaay more dumb people than smart people. It's called news for the mass for a reason.

This is so true, these days most people just feed on whatever they hear from these crypto blog sites. They basically do a little bit of research about the information given and just heed to it. I don't blame though, researching and reading has become a pain in the butt to most people so they tend to follow blindly whatever is given to them.

[cr1776]

LONDON (Reuters) - If you’re not a bitcoin enthusiast, you probably haven’t heard what’s happening next year: It’s called the “halving”, and it will cut production of the cryptocurrency by 50%.

https://www.reuters.com/article/us-crypto-currencies-halving-idUSKBN1YN19A

Yet another journalist promoting the misconception that the halving reduces the supply of bitcoins. The opening paragraph is correct but the remainder of the article replaces "production" with "supply". The author is then obligated to explain how lower supply and constant demand effect the price.

The article also notes that the price rose in the years following the halvings, but neglects to mention the fact that the price also rose in the years preceding the halvings.

If the author had clarified and written "new supply" throughout the article it would've been much clearer as to what they were attempting to say.

With previous halvings, I think that people seemed to think that the day that the halving occurred would coincide directly with an increase in price neglecting to realize that people had planned for that and these people panicked and sold right after the halving because it didn't immediately materialize.  If the past is any guide, the impact on price (as you note) occurs somewhat prior to the halving date and then hits in earnest 3-9 months later when the impact a smaller new supply is fully felt.

[electronicash]

And to think that this is published in Reuters. They should be hiring an expert in Bitcoin or cryptocurrency to check the facts and details before clicking publish.

Reuters is known to publish garbage just as much as other similar outlets do. It's all about efficiency, and when you know that most of their readers are considered dumb money, efficiency means that you can just release articles and "research" papers knowing that people will take it for granted right away.

Why do you think there is so much fake news? It's because the readers falling for that fake news are dumb, and let there be waaaay more dumb people than smart people. It's called news for the mass for a reason.

This is so true, these days most people just feed on whatever they hear from these crypto blog sites. They basically do a little bit of research about the information given and just heed to it. I don't blame though, researching and reading has become a pain in the butt to most people so they tend to follow blindly whatever is given to them.

they always publish something that misled people to believe something else specially in politics. why bitcoin related article is posted in reuters is quit an exposure. i can't remember how many times they did this. somehow the message is to prepare for the price to go to mars and if you wanna ride along buy more.  halving is explained in the middle of the article though rewards cut in half.

[bbc.reporter]

Usual cherry picking on news/article, nothing to see here. Maybe they make similar article with title "Heard of bitcoin's 'halving'? It's set to destroy mining industry"

It will not destroy, however, it might shutdown some miners similar to litecoin's halving.

I reckon everyone should be ready and prepare to be disappointed on bitcoin after its halving to be safe and avoid a wallet breaking experience hehehe.

[CryptoBry]

Usual cherry picking on news/article, nothing to see here. Maybe they make similar article with title "Heard of bitcoin's 'halving'? It's set to destroy mining industry"

It will not destroy, however, it might shutdown some miners similar to litecoin's halving. I reckon everyone should be ready and prepare to be disappointed on bitcoin after its halving to be safe and avoid a wallet breaking experience hehehe.

Right now, I have to admit of my disappointment with the way things are with Bitcoin as far as price and adoption is concerned. And I am sure many are feeling the same thing too partly also because we are having high expectations on Bitcoin as if a magical wand that can perform amazing tricks for all of us to see and experience. Obviously, Bitcoin should be considered as just at par with other investment vehicles already on the marketplace though it can be giving higher ROI. I am carefully watching the price movement as the halving is getting near, am sure there can be some pump somehow and that after the halving things will get back to where the price is now and can even go lower. Aside from halving, there is nothing really extraordinary to expect to happen with Bitcoin in 2020. The so-called institutional money that is supposed to be putting Bitcoin to a higher ground is not happening and even if it will there is no guarantee that it will not be even the reason for its pullback.

[posi]

Usual cherry picking on news/article, nothing to see here. Maybe they make similar article with title "Heard of bitcoin's 'halving'? It's set to destroy mining industry"

It will not destroy, however, it might shutdown some miners similar to litecoin's halving.

He's not talking about his own impression here but what the article he's s talking about says

I reckon everyone should be ready and prepare to be disappointed on bitcoin after its halving to be safe and avoid a wallet breaking experience hehehe.

Despite your ranking, I felt sad that you're also among those that believe the upcoming bitcoin halving not to yield a promising result. For your information you're totally and there are some surge event in the market that are logical bitcoin halving is among that event.

[bbc.reporter]

@posi. I did not say a promising result is certain not to occur. I am only saying to prepare for disappointment because it might also occur similar to litecoin's halving.

[posi]

@posi. I did not say a promising result is certain not to occur. I am only saying to prepare for disappointment because it might also occur similar to litecoin's halving.

I understood your statement and I'm also aware some people are comparing the result of litecoin halving with bitcoin upcoming halving  was the reason some people believe the result won't lift up to our expectations whereas the project which a lot of investors have lost confidence in ever it creator declared to have sold all his holding can't be used to justify the crypto which is widely used.

[hulla]

This is certainly a misleading articles but I'm very surprised that Reuters could permit such wrong information article posted on their site despite their reputation and now I'm started to think not about the site but the article writers who are not competent but something must be done about this because it could spread FUD or make the newbies believe in fake data.

[1Referee]

I am only saying to prepare for disappointment because it might also occur similar to litecoin's halving.

You compare Litecoin, an utter shitcoin, to Bitcoin. Not a good thing to do. Look at Litecoin's historical price activity. In 2018 it fell 50% below its 2013 high. It's purely used as a pump and dump scheme.

I remember back in 2013 when everyone (including myself) was saying that Litecoin would reach $50 when it would get listed on MtGox. It didn't get listed on MtGox but it reached that price anyway. Currently it trades at $42. 

Wallet breaking? What do you mean?

What he tries to say is that people shouldn't buy in because of the halving to avoid getting rekt.

[figmentofmyass]

@posi. I did not say a promising result is certain not to occur. I am only saying to prepare for disappointment because it might also occur similar to litecoin's halving.

litecoin's halving pump was amazing. you think a 550% pump isn't gonna cause a severe correction afterwards?

with the BTC market so bearish for the last half year, the timing is lining up perfectly for a pre-halving pump and dump---just like we saw before the 2012 and 2016 halvings. the bearish sentiment is taking its toll---people are starting to question the halving narrative. this is a good thing from a contrarian investor point of view.

[malevolent]

Despite your ranking, I felt sad that you're also among those that believe the upcoming bitcoin halving not to yield a promising result. For your information you're totally and there are some surge event in the market that are logical bitcoin halving is among that event.

You're forgetting that any 'promising results' may already be priced in - the knowledge and approximate date of halving being publicly known and all.

[bbc.reporter]

@posi. I did not say a promising result is certain not to occur. I am only saying to prepare for disappointment because it might also occur similar to litecoin's halving.

I understood your statement and I'm also aware some people are comparing the result of litecoin halving with bitcoin upcoming halving  was the reason some people believe the result won't lift up to our expectations whereas the project which a lot of investors have lost confidence in ever it creator declared to have sold all his holding can't be used to justify the crypto which is widely used.

Are you telling me that a pump after halving is certain to come simply because it is bitcoin, it is different. The only sure things in this world are death and taxes hehehe.

@figmentofmyass. Litecoin's last halving was on August 4, 2019.

[figmentofmyass]

@figmentofmyass. Litecoin's last halving was on August 4, 2019.

yeah and litecoin's rally ending in june 2019 topped 550% growth.

the references to 2012 and 2016 referred to bitcoin's halvings, since bitcoin similarly pumped prior to those events too.

[bbc.reporter]

However, it also shows that the halving is not an immediate solution to end a bear market.

[posi]

Despite your ranking, I felt sad that you're also among those that believe the upcoming bitcoin halving not to yield a promising result. For your information you're totally and there are some surge event in the market that are logical bitcoin halving is among that event.

You're forgetting that any 'promising results' may already be priced in - the knowledge and approximate date of halving being publicly known and all.

No and no true cryptoneir will forget the halving day been publicly recognized but we still can't be sure if the promising result are priced in or already reflected either through the current market trend or litecoin halving result.

@posi. I did not say a promising result is certain not to occur. I am only saying to prepare for disappointment because it might also occur similar to litecoin's halving.

I understood your statement and I'm also aware some people are comparing the result of litecoin halving with bitcoin upcoming halving  was the reason some people believe the result won't lift up to our expectations whereas the project which a lot of investors have lost confidence in ever it creator declared to have sold all his holding can't be used to justify the crypto which is widely used.

Are you telling me that a pump after halving is certain to come simply because it is bitcoin, it is different. The only sure things in this world are death and taxes hehehe.

I made the above statement because of the bitcoin used range and if the good result don't happen, the whales can make it happen but like you said death and taxes are the only sure things.
Mind you, there are still some market season in crypto that always replicate itself market (ATH, blood bath and correction).

[Betwrong]

I agree with the posters above that we can't be sure about the positive effect of the upcoming halving, but, at the same time, I think it is reasonable to expect it. After all, we are talking about producing 328,500 BTC less than before, yearly, and although not all mined coins immediately turn into supply, a big part of them quickly ends up on exchanges, increasing the supply, at least to some degree. Imo, the fact of removing 300k+ BTC from the possible yearly supply will surely have a psychological effect on the current and potential Bitcoin investors, resulting in the price rise.