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Author Topic: The 2020 Bitcoin Halving: See what'll Definitely Happen.  (Read 237 times)
yazher
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May 05, 2020, 05:04:34 AM
 #21

The most analyst has predicted the price will rise right after the halving is done but that's when we don't have this major crisis that we currently facing right now. I'm talking about the pandemic that making things worse for most of the industries that currently affected. if it's not for this problem, the speculations of the analyst could have became true and we will see the result right now. But times can tell what could really happen, let's just wait for the outcome of these trials.

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May 05, 2020, 05:08:42 AM
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 #22

you don't have to worry about miners' revenue. when miners were getting paid twice the current amount of bitcoin for their work (ie. 25BTC) they were earning $6,250 per block but now with half that amount of bitcoin (ie. 12.5BTC) they are earning $108,000. even if we had 4 halvings tomorrow they are still earning more money than 4 years ago.

You're treating a serious issue quite lightly
Yeah, the miners were earning only that much, but do you want the network to be back at 1PH at a time when with just 50mils$ worth of gear you can launch a 51% attack at that hashrate?
Miners were paid back in 2009 half a gram of pizza per block, would you entrust your money to a chain that can be attacked by a 1080ti?

At the time you mentioned their expenses with power consumption had to cover (assuming best gear available) 33kwhx70k miners per day, right now if we assume the same gear it's 70kwhx1.5 mils, 40 times more.

This is what happened to shitcash and shitvision after the halving:



Both coins can be attacked right now with 51% with only 10k s19 miners.

Yes, you have to worry about the miner's revenue!
If they were making 10 cents with 6 cents expenses and 4 cents in profit now they will make -1 cents in profit and shut down.
And with every mining gear shut down the security of the chain is going down and there is more gear that can be picked cheap just for..."fun".



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May 05, 2020, 07:24:50 AM
 #23

~~~
it is not possible to answer at all because you are asking me to predict what is going to happen in a century from now. it is already hard to know what the future in 5 years is going to be like let alone 100. with that said the design of bitcoin is based on the assumption that when block reward becomes so small the total transaction fees that a miner receives should cover their cost of mining in the future.

Projections and analysing the future look unreliable or unreal. We can see how many companies and government made some plan this year but no one knows if there will be a disruption of such plan by coronavirus pandemic.

That's why Lord  Maynard Keynes said" in the longrun we are all dead" so our analysis should be in the short run because we are still alive.

That's very valid

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