Amph
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October 25, 2015, 07:38:34 AM |
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i think he mean the mining supply, which will be 1800 exactly, thus making it decreased from 3600
within 5 years anyway the impact of new coins will not be so important in any case
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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dothebeats (OP)
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Cashback 15%
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October 25, 2015, 07:59:54 AM |
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The halving is near, and as many of us know, it will slow the amount of coins "minted" each time the miners find a block. I understand the basic of supply and demand, and I also know that the lesser the supply is, the higher the price. But what if there is a less supply but also less demand on the other side? Would the price still be high as expected? Or will it be low because apparently there are no buyers on the other side of the market? Confused here. Please help.  It really depends on the demand. Bitcoin has a decreasing supply and a large demand. If there was a low demand, it'd barely be a hundred dollars. Uh, decreasing mined coins per day is the only thing that's gonna be reduced by half and not the actual supply. The supply is a static 21 million limit which is predicted to be mined at the year 2140. |
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Mickeyb
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October 25, 2015, 10:51:23 AM |
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i think he mean the mining supply, which will be 1800 exactly, thus making it decreased from 3600
within 5 years anyway the impact of new coins will not be so important in any case
This is still a huge decrease in daily supply. A very significant decrease from 3,600 to 1,800. This is not to be neglected. More and more I believe that this will have huge influence on price as we maybe started already seeing! Very exciting times ahead of us! |
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BitcoinCounty
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October 25, 2015, 10:55:57 AM |
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i think he mean the mining supply, which will be 1800 exactly, thus making it decreased from 3600
within 5 years anyway the impact of new coins will not be so important in any case
In years, the adoption matters more to the price then the supply of bitcoins. If bitcoin is not dead by then, the price will be very high. |
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Tess The CoinzMaster
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October 25, 2015, 10:57:39 AM |
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Price will go up, I think.
Everything points that way...
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NorrisK
Legendary
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Activity: 1946
Merit: 1007
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October 25, 2015, 10:59:34 AM |
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i think he mean the mining supply, which will be 1800 exactly, thus making it decreased from 3600
within 5 years anyway the impact of new coins will not be so important in any case
This is still a huge decrease in daily supply. A very significant decrease from 3,600 to 1,800. This is not to be neglected. More and more I believe that this will have huge influence on price as we maybe started already seeing! Very exciting times ahead of us! The other thing that impacts this is the amount if the currently mined coins that is being sold at the moment. This is not 100% and will also not become 100%, but may be higher to than currently to cover expenses. However, I don't think available supply will decrease so much that it will increase price very significantly. |
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Amph
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Activity: 3206
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October 25, 2015, 11:49:13 AM |
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i think he mean the mining supply, which will be 1800 exactly, thus making it decreased from 3600
within 5 years anyway the impact of new coins will not be so important in any case
In years, the adoption matters more to the price then the supply of bitcoins. If bitcoin is not dead by then, the price will be very high. yeah the halving and the lost coins are only a plus, a bonus, without real demand the price of bitcoin can not reach unbelievable level but i guess, every halving will help indirectly this, by building the hype, this is a good thing |
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bitart
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October 26, 2015, 11:03:47 AM |
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How does the halving changes (if it does) the prices of the hardware used to mine the bitcoins? If (after the halving) the miners will found half of the bitcoins than before, it will double the time of the return of the price of the hardware. This means it should lower the price of the hardware, if not because of the longer return on investment, maybe people will start to sell their hardware because of the less bitcoin they can mine with, the less they can sell.
But, if the halving starts the price of bitcoin to sky rocket, nobody will sell anything and in that case the ROI will be significantly better.
What is your opinion?
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BitcoinCounty
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October 26, 2015, 04:30:59 PM |
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How does the halving changes (if it does) the prices of the hardware used to mine the bitcoins? If (after the halving) the miners will found half of the bitcoins than before, it will double the time of the return of the price of the hardware. This means it should lower the price of the hardware, if not because of the longer return on investment, maybe people will start to sell their hardware because of the less bitcoin they can mine with, the less they can sell.
But, if the halving starts the price of bitcoin to sky rocket, nobody will sell anything and in that case the ROI will be significantly better.
What is your opinion?
After halving, if the price stay the same, then the less efficient miners will go out of business because the electricity cost is higher than generated bitcoin. The price of the more efficient miners will also drop so that mining is still a marginal business. |
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Slark
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October 26, 2015, 06:09:27 PM |
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Price will go up, I think.
Everything points that way...
It is bitcoin economy, there is not really logic behind it sometimes. Last time when halving occurred there weren't any significant changes at all. Price of bitcoin even decreased slightly after it. This time bitcoin is much bigger, but I still can't be sure about that huge price spike. |
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QUEDOS
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October 26, 2015, 07:22:33 PM |
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The halving is near, and as many of us know, it will slow the amount of coins "minted" each time the miners find a block. I understand the basic of supply and demand, and I also know that the lesser the supply is, the higher the price. But what if there is a less supply but also less demand on the other side? Would the price still be high as expected? Or will it be low because apparently there are no buyers on the other side of the market? Confused here. Please help. There are thousands of people globally that transact with bitcoin on a daily basis and the amount of daily users has been growing over the last six years, so it's more than likely that the demand will continue to build up.. thus, block halving will cause bitcoin's value to increase - almost by default |
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odolvlobo
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October 26, 2015, 11:43:45 PM |
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i think he mean the mining supply, which will be 1800 exactly, thus making it decreased from 3600
within 5 years anyway the impact of new coins will not be so important in any case
This is still a huge decrease in daily supply. A very significant decrease from 3,600 to 1,800. This is not to be neglected. More and more I believe that this will have huge influence on price as we maybe started already seeing! Bitcoins are not consumed and there is no difference between bitcoins mined today and bitcoins mined yesterday, so even the "daily supply" is constantly rising. |
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prodigy8
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October 27, 2015, 12:04:59 AM |
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The number of bitcoin will not stop 'produced' at the halving period.
The only thing is that the block reward will be 50% less, and i think a good amount of miners will leave.
By this the difficulty will be fall down a bit, but as the new technology trend is rising more new miners will be more efficient and the profit will be increased, together with it also the bitcoin price.
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BitcoinCounty
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October 27, 2015, 02:18:20 PM |
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Gradually, the fresh supply of bitcoin matters less and less. The wide adoption of bitcoin is most important of all.
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odolvlobo
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October 27, 2015, 09:46:32 PM |
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Gradually, the fresh supply of bitcoin matters less and less. The wide adoption of bitcoin is most important of all.
Bitcoins don't go stale. There is no "fresh" supply, but I think what you are really saying is that the reduction of inflation to zero over time causes the downward pressure on the price to go to zero. |
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Yerm
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October 27, 2015, 09:49:28 PM |
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Gradually, the fresh supply of bitcoin matters less and less. The wide adoption of bitcoin is most important of all.
Bitcoins don't go stale. There is no "fresh" supply, but I think what you are really saying is that the reduction of inflation to zero over time causes the downward pressure on the price to go to zero. by "fresh bitcoins" i think he means the ones generated as a block reward. but i dont see a correlation between block rewards and the adoption of bitcoin |
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Sourgummies
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October 28, 2015, 01:20:07 AM |
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Price may not necessarily go up enough to keep the miners interested enough to continue mining.
This might be a touchy subject but hopefully there will be enough demand to keep the system going
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Amph
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October 28, 2015, 08:10:23 AM |
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Gradually, the fresh supply of bitcoin matters less and less. The wide adoption of bitcoin is most important of all.
Bitcoins don't go stale. There is no "fresh" supply, but I think what you are really saying is that the reduction of inflation to zero over time causes the downward pressure on the price to go to zero. by "fresh bitcoins" i think he means the ones generated as a block reward. but i dont see a correlation between block rewards and the adoption of bitcoin actually there is, but it's a side effect, we cna call it in this way... those that are waiting to jump on bitcoin, but the price of bitcoin is too proibitive for them, wil be forced to enter at some point if they believe that the price will not rise, and their chance would go toward zero because they know that if the price won't increase, miner will leave, and they would miss their opportunity to have a decent profit |
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bitart
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October 28, 2015, 12:13:50 PM |
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And what about the miners' equipment? Today it doesn't worth to mine with graphical cards anymore, only with special equipment. If you mine the same time, use electricity, and you find half quantity of bitcoin, the price should increase to let miners stay in business.
What about transaction fees? Will they increase as well after the halving as well?
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BitcoinCounty
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October 28, 2015, 01:02:55 PM |
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And what about the miners' equipment? Today it doesn't worth to mine with graphical cards anymore, only with special equipment. If you mine the same time, use electricity, and you find half quantity of bitcoin, the price should increase to let miners stay in business.
What about transaction fees? Will they increase as well after the halving as well?
There is no need for the price to rise for the miners to stay in business. The miners will just switch off 50% of the miners. |
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