1. How will scalability be solved?
The growth in bitcoin transaction volumes shows no sign of abating, and yet the 1MB block data limit is no closer to being raised than it was six months ago. Whether and how it is raised (via hard fork or changes to Bitcoin Core) will have lasting repercussions, and changing one of bitcoin's fundamental rules will have unintended, unpredicted and perhaps negative consequences.
One of bitcoin's earliest contributors has now written off bitcoin as a failed experiment .
2. Will reward halving affect price?
Assuming that cooler heads prevail with the block-size debate, and a consensus on scalability is reached before the technology and its network fractures (a big assumption, to be sure), it will be fun to watch what happens to the bitcoin price and mining incentives over the next several months.
For the second time since bitcoin was released into the wild, the bitcoin mining reward subsidy is scheduled to halve – around July 2016, from 25 BTC to 12.5 BTC per block. Other things equal, this should result in some combination of smaller miners dropping out of the market, a rally in the bitcoin price, the curbing of mining difficulty increases, and greater interest from miners in allowing bitcoin transaction fees to rise.
The growth in bitcoin transaction volumes shows no sign of abating, and yet the 1MB block data limit is no closer to being raised than it was six months ago. Whether and how it is raised (via hard fork or changes to Bitcoin Core) will have lasting repercussions, and changing one of bitcoin's fundamental rules will have unintended, unpredicted and perhaps negative consequences.
One of bitcoin's earliest contributors has now written off bitcoin as a failed experiment .
2. Will reward halving affect price?
Assuming that cooler heads prevail with the block-size debate, and a consensus on scalability is reached before the technology and its network fractures (a big assumption, to be sure), it will be fun to watch what happens to the bitcoin price and mining incentives over the next several months.
For the second time since bitcoin was released into the wild, the bitcoin mining reward subsidy is scheduled to halve – around July 2016, from 25 BTC to 12.5 BTC per block. Other things equal, this should result in some combination of smaller miners dropping out of the market, a rally in the bitcoin price, the curbing of mining difficulty increases, and greater interest from miners in allowing bitcoin transaction fees to rise.
But if the price goes up the smaller miners stay in, i think the price will just go up and everyone will keep mining. What else aare you going to do, you spent money on equipment and time learning about bitcoin and you likely want to support the network. 95% chance it causes a bubble.
