MicroGuy
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December 12, 2014, 09:47:11 PM |
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i would make a bet that we are not at 350 USD in mid 2016 ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Faussiememes.com.au%2Fmedia%2Fcreated%2Fhow-about-1.jpg&t=665&c=M_VPW58EBJAL0g)
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keystroke
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December 12, 2014, 10:28:57 PM |
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It could be pulled forward yet again as more powerful ASICs come online sometime during the first half of next year.
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"The difference between a castle and a prison is only a question of who holds the keys."
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LiteCoinGuy
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In Satoshi I Trust
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December 12, 2014, 10:39:30 PM |
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i would make a bet that we are not at 350 USD in mid 2016 ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Faussiememes.com.au%2Fmedia%2Fcreated%2Fhow-about-1.jpg&t=665&c=M_VPW58EBJAL0g) i would bet...lets say... 1000 USD ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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fryarminer
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December 13, 2014, 05:57:22 AM |
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I think too many bitcoins are currently being generated. The market is being saturated with new coins and not enough people buying the ones generated each day, hence the price staying where it is. I'm looking forward to the halving. My guess is that by that time there will be much demand to buy, since many businesses will be accepting BTC, so it will be the opposite phenomena, we will need more Bitcoin to satiate the demand, whereas mining will half. So the price will go up.
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freedomno1
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Learning the troll avoidance button :)
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December 13, 2014, 11:32:28 AM |
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Is there something somewhere that says when bitcoins will halve? Also, are there estimated dates for that happening? If so, where can I find it? Same with other crypto coins.
Just refer to the sticky in the economics section of the forum https://bitcointalk.org/index.php?topic=130619.0Shows you in detail, for other crypto coins you would need to determine production rate etc so it depends. Another source is the bitcoin wiki if you want more details under controlled supply.
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Believing in Bitcoins and it's ability to change the world
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maurya78
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December 13, 2014, 01:19:30 PM |
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We are broadly on target for April/May 2016 the last time I saw someone work it out With diffculty finally falling, curious if the math has changed
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Amph
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December 13, 2014, 01:45:47 PM |
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the important thing to know is the next halving, in 2016
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kilminukas
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December 13, 2014, 08:05:40 PM |
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it shows that after some time block reward will be halved does that mean that difficulty will be increased by 2x?
No. It means that the reward will be reduced to 12.5 BTC per block. But in a way you are right. Mining will instantly become 2x less profitable. And difficulty will most likely (at least temporarily) drop, because older hardware that will not be profitable will be shut off... But there is also a chance that by then the transaction fees will have a much more significant volume, so the block halving will not have such a big impact. Currently fees are less than 1% of what miners get. Usualy 0.5 - 0.1% Would the price increase 2x then? Not necessarily, no. Price is based on supply and demand. We don't know what the demand will be, all we know is the supply rate of NEW coins being created gets cut by half. We know it will have a general upward effect on price (compared to keeping the subsidy reward at 25 BTC) because the rate at which the supply is increasing is slowing down by half, but no one can predict the price. hmm so if they price stays the same would it be profitable to mine at all?
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redsn0w
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#Free market
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December 13, 2014, 08:13:37 PM |
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..snip..
hmm so if they price stays the same would it be profitable to mine at all?
I don't know , but maybe if you have a free electric energy (*plus an hardware machine at the correct price) it is always profitable. I think before the next block reward halving the price will rise a little up.
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political
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December 14, 2014, 03:57:44 AM |
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it shows that after some time block reward will be halved does that mean that difficulty will be increased by 2x?
No. It means that the reward will be reduced to 12.5 BTC per block. But in a way you are right. Mining will instantly become 2x less profitable. And difficulty will most likely (at least temporarily) drop, because older hardware that will not be profitable will be shut off... But there is also a chance that by then the transaction fees will have a much more significant volume, so the block halving will not have such a big impact. Currently fees are less than 1% of what miners get. Usualy 0.5 - 0.1% Would the price increase 2x then? Not necessarily, no. Price is based on supply and demand. We don't know what the demand will be, all we know is the supply rate of NEW coins being created gets cut by half. We know it will have a general upward effect on price (compared to keeping the subsidy reward at 25 BTC) because the rate at which the supply is increasing is slowing down by half, but no one can predict the price. hmm so if they price stays the same would it be profitable to mine at all? Its always profitable for someone, but too competitive these days for most folks unless you're running a serious operation.
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botany
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December 15, 2014, 06:04:22 PM |
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..snip..
hmm so if they price stays the same would it be profitable to mine at all?
I don't know , but maybe if you have a free electric energy (*plus an hardware machine at the correct price) it is always profitable. I think before the next block reward halving the price will rise a little up. A lot of people are hoping that will happen. One year isn't too long to hold your bitcoins. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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