Topic: 2024 Bitcoin Halving - What are Your Expectations!!! - page 2. (Read 3754 times)

The time to mine a new block is on average 10 minutes, independent of the number or speed of the miners, the difficulty gets updated roughly every 2 weeks to keep the time between two blocks roughly at 10 minutes.

So there's no such thing as the network becoming too slow.

Also, there's lightning which runs on top of Bitcoin and makes transactions almost immediate.

Some posts above Bitstar_coin showed, that during last 3 halvings Bitcoin price did not show any major changes. At previous halving, a lot of people expected Bitcoin price to skyrocket, but the significant price change started after Elon Musk tweets. This time the world economy is in tricky situation, and Elon Musk shows low interests in crypto, so instead of huge price changes, I would expect no huge price changes at all.

And btw, you say "new ATH after each halving" - there was never a new ATH after halving. Bitcoin had ATH 1-2 years after halving.

The Bitcoin halving period could be a crazy time for Bitcoin and cryptocurrencies. Expect the price to go up and get a new ATH after each halving, so expect to hit a new all-time high after the next halving. Of course Bitcoin users and popularity will also increase.

Next halving 2024
Block rewards at time of halving 6.250 BTC

My prediction bitcoin would be hitted at the end of 2024

Bitcoin price (40000-90000)
But I have a feeling that if the war between Ukraine and Russia is not resolved, the upward trend of cryptocurrency and Bitcoin market cannot be expected.  If the war between Ukraine and Russia ends after 2024, Bitcoin will exceed $100k.

It's not possible in the fiat/USD standard.

It will be possible in the BTC standard (measuring commodities such as gas, oil, gold, copper, wheat in sats).

The Bitcoin halving period could be a crazy time for Bitcoin and cryptocurrencies. Expect the price to go up and get a new ATH after each halving, so expect to hit a new all-time high after the next halving. Of course Bitcoin users and popularity will also increase.

The time to mine a new block is on average 10 minutes, independent of the number or speed of the miners, the difficulty gets updated roughly every 2 weeks to keep the time between two blocks roughly at 10 minutes.

So there's no such thing as the network becoming too slow.

Also, there's lightning which runs on top of Bitcoin and makes transactions almost immediate.

                         
                                          

Bitcoin investors will definitely look forward to an increase in the price of Bitcoin during the halving and a bull run to come. The demand for bitcoin should also increase, btc will be more popular around the world and it will be more valuable in the future.

Every single bitcoin transaction that takes place has to be permanently committed to the Bitcoin blockchain ledger through a process called “mining.” Bitcoin  miners compete using specialized computer equipment known as application-specific integrated circuit (ASIC) chips to unlock the next block in the chain.  In these years running up to the next bitcoin halving event in 2024, the bitcoin miners will need to develop faster, cheaper, more energy efficient ASICS.  Otherwise, the incentive to keep mining bitcoins will disappear.  When something costs more to make than the rewards for making that thing, then there becomes no business reason to continue.  Remember, all the current bitcoin transactions need to be proofed by these miners.  Therefore, the degree of difficulty for hashing and proving the legitimacy of each old block become greater and greater.  My prediction is that the price of a bitcoin will drop to a low enough level such that miners quit mining.  Then a level of bitcoin transaction saturation will occur such that it will become too slow to even use a bitcoin for any financial transactions.  When that happens, cryptocurrency transactions will migrate to other altcoin blockchain networks that are faster, cheaper, and more efficient than the Bitcoin network.  In other words - bitcoins will become dinosaurs.

You heard it first hear folks.  Remember this day - December 28, 2022

                         


                                               What is the Bitcoin Halving (Halvening)?
New bitcoins are issued by the Bitcoin network every 10 minutes. For the first four years of Bitcoin's existence, the number of new bitcoins issued every 10 minutes was 50. Every four years, this number is cut in half.

In 2012, the number of new bitcoins issued every 10 minutes dropped from 50 bitcoins to 25. In 2016, it dropped from 25 to 12.5. In the most recent May 11, 2020 halving, the reward dropped from 12.5 to 6.25 BTC per block.

In the upcoming 2024 halving, the reward will drop from 6.25 BTC per block to 3.125 BTC.

                                               Bitcoin Halving Dates History
      
         2012 Halving
The 2012 block halving was the first halving and happened on November 28th, 2012. The halving block was mined by SlushPool by someone using a Radeon HD 5800 miner.

New BTC Per Block Before: 50 BTC per block
New BTC Per Block After: 25 BTC per block
Price on Halving Day: $12.35
Price 150 Days Later: $127.00

       2016 Halving
The second halving occurred on July 9th, 2016.

New BTC Per Block Before: 25 BTC per block
New BTC Per Block After: 12.5 BTC per block
Price on Halving Day: $650.63
Price 150 Days Later: $758.81

     2020 Halving
The third halving occurred on May 11, 2020.

New BTC Per Block Before: 12.5 BTC per block
New BTC Per Block After: 6.25 BTC per block
Price on Halving Day: $8821.42
Price 150 Days Later: $10,943.00

     Current Bitcoin Block Subsidy
The current Bitcoin block subsidy is 6.25 bitcoins per block. When block 840,000 is hit in 2024, the subsidy will drop to 3.125 bitcoins (BTC) per block.


Source

The next bitcoin halving is less than two years, to me, this period will be different because, for the first time, I really am paying attention to important aspects of btc and keeping myself updated as well.
I can't really say much about previous halving other than just reading about them (probably because I was not holding btc) but now is different because I have been accumulating in every little way I can.

So dear colleagues, What are your expectations? other than price increase  
*Do you expect to see widespread adoption and acceptance?
*More involvement from big companies?
*More popular?
*Increase number of users?
*Any other.......

                         


                                               What is the Bitcoin Halving (Halvening)?
New bitcoins are issued by the Bitcoin network every 10 minutes. For the first four years of Bitcoin's existence, the number of new bitcoins issued every 10 minutes was 50. Every four years, this number is cut in half.

In 2012, the number of new bitcoins issued every 10 minutes dropped from 50 bitcoins to 25. In 2016, it dropped from 25 to 12.5. In the most recent May 11, 2020 halving, the reward dropped from 12.5 to 6.25 BTC per block.

In the upcoming 2024 halving, the reward will drop from 6.25 BTC per block to 3.125 BTC.

                                               Bitcoin Halving Dates History
      
         2012 Halving
The 2012 block halving was the first halving and happened on November 28th, 2012. The halving block was mined by SlushPool by someone using a Radeon HD 5800 miner.

New BTC Per Block Before: 50 BTC per block
New BTC Per Block After: 25 BTC per block
Price on Halving Day: $12.35
Price 150 Days Later: $127.00

       2016 Halving
The second halving occurred on July 9th, 2016.

New BTC Per Block Before: 25 BTC per block
New BTC Per Block After: 12.5 BTC per block
Price on Halving Day: $650.63
Price 150 Days Later: $758.81

     2020 Halving
The third halving occurred on May 11, 2020.

New BTC Per Block Before: 12.5 BTC per block
New BTC Per Block After: 6.25 BTC per block
Price on Halving Day: $8821.42
Price 150 Days Later: $10,943.00

     Current Bitcoin Block Subsidy
The current Bitcoin block subsidy is 6.25 bitcoins per block. When block 840,000 is hit in 2024, the subsidy will drop to 3.125 bitcoins (BTC) per block.


Source

The next bitcoin halving is less than two years, to me, this period will be different because, for the first time, I really am paying attention to important aspects of btc and keeping myself updated as well.
I can't really say much about previous halving other than just reading about them (probably because I was not holding btc) but now is different because I have been accumulating in every little way I can.

So dear colleagues, What are your expectations? other than price increase  
*Do you expect to see widespread adoption and acceptance?
*More involvement from big companies?
*More popular?
*Increase number of users?
*Any other.......

Totally agree with that. The times you are talking about is what we are living in now. I won't lie, I personally don't buy BTC these days, because my country is in a very harsh situation right now, no one can afford investing in other things than those of prime necessity. But it's obvious that BTC will reach a new ATH in a year or two, and people who buy it today will have a good return on their investment.

Bitcoin was designed to be a deflationary cryptocurrency, so technically speaking, it should go up in price over time. But that doesn't mean there will be setbacks along the way. There will be times where prices will go all the way down the drain due to unfortunate events in the mainstream world. That's the right moment to invest into Bitcoin before everything goes back up again. If you're smart, you'd buy and "hodl" until the tide is over. Weak hands (especially newbies) will ultimately sell their Bitcoin because they truly don't know how the crypto market works. At least, we know Bitcoin won't be going anywhere soon. Who knows if 10-20 years into the future, Bitcoin reaches $1m per coin? Just my thoughts

I agree. Just want to add that since we are talking about our expectations regarding the price of BTC, I want to say that I personally don't like when some Bitcoin supporters say "1 Bitcoin = 1 Bitcoin". Not that it's not true, but you can say the same about Zimbabwean dollar, or any other trash currency, you can say the same about any sh*tcoin, right?

I agree. Just want to add that since we are talking about our expectations regarding the price of BTC, I want to say that I personally don't like when some Bitcoin supporters say "1 Bitcoin = 1 Bitcoin". Not that it's not true, but you can say the same about Zimbabwean dollar, or any other trash currency, you can say the same about any sh*tcoin, right?

If something worthy has a limited all-time supply, the price of that thing will be rising in the future. It will never be a smooth ride up, the road will be bumpy, but overall it can go only one way.

The problem is some people often jump to conclusions too quickly mostly to negative news, all they see is the worst happening, the world is crumbling.
During the Collapse of Mt. Gox btc was not this popular with so much support from different parts of the world, yet btc was able to fight back and break ath several times.
I think btc has already proven time and again that nothing can bring it down, not the collapse of any cex exchange. I hope people can see that and stop doubting the ability of this great tech to go back up.