Halving is a procedure and we must have to take it casual. Because its a process.
But if consider 1st and 2nd halving it gives a short example of effect on cryptocurrency market as at the time of 1 st halving BTC price in USD was just $4 to $5. At the time of second haling price of bitcoin was $630+ it shows halving impacts inversely to the price of bitcoin.
So as it goes years for ending halving can increase price of bitcoins with indirect proportion.
Topic: 64 more halvings to go for bitcoins - page 2. (Read 2035 times)
Being an average Joe, as per my understanding, halving has nothing to do with survival of bitcoin system. After 21M bitcoins mined, the block reward would be zero. So, there will not be any possibility for further halving (assuming 1 satoshi still not divisible then too). But new blocks will be kept on created with zero newly generated bitcoins.
(miner's reward would be purely tx fees, that could be even more than 500 or 1000 BTC based on tx volume)
Only number of bitcoins are limited. But new blocks will be keeping coming unlimited for every 10 minutes till this universe (or internet) survives. As long as new blocks are generated there will not be any worry for bitcoin ecosystem.
(miner's reward would be purely tx fees, that could be even more than 500 or 1000 BTC based on tx volume)
Only number of bitcoins are limited. But new blocks will be keeping coming unlimited for every 10 minutes till this universe (or internet) survives. As long as new blocks are generated there will not be any worry for bitcoin ecosystem.
Halving is predefined calculations after every 210000 blocks mined. By the calculation it tooks 2145 of year to solve all blocks. And after solving every block all plates will get destroyed.
64 halvings x 4 years is equals to 256 years. So possible bitcoin will probably exist 260 years from now. It is bad new or good news. It maybe bad new for future generations but of us it is good news since we will not be able to witness the end of bitcoin.
Then after reading that facts, i decided to hoard some of my btc and I will open it and use after 20 years, since at that time bitcoin will still be alive.
Will you share your thoughts about it and correct me if i am wrong, I believe that multiple minds is better than one.
Then after reading that facts, i decided to hoard some of my btc and I will open it and use after 20 years, since at that time bitcoin will still be alive.
Will you share your thoughts about it and correct me if i am wrong, I believe that multiple minds is better than one.
I think i will be done with Bitcoins after 5 halvings have occured; because i just don't see the value of Bitcoin rising at great heights in order to compensatie for the block halving. More and more miners would quit and the end might be sooner than you think.
Do you mean dumping them all as they are mined? I think what he was meaning was perhaps that they have large stocks of BTC held that they can dispose of to cover their fiat liabilities (electricity, ASIC costs, etc), but I think most mining operations sell as they produce.
It's a bullshit reasoning. Even if a miner was to hold a certain amount of the supply as hard saving, they wouldn't continually dump them in order to continue mining while not making any profit with it, maybe short time, but at some point the miner would cut his expenses, if being in red numbers, rather than burn through his savings.You can't make a red letter operation profitable by wasting your savings to keep it running. It's economically stupid and miners act anything but stupid.
Well it is about time for miners to spend /dumb their btc more wisely! and maybe ..maybe i say to become a little more strong hands.. this will benefits us all...!
As the reward decreases,miners will have to sell their holdings to cover the cost of mining.This will reduce the prices of bitcoin due to high supplyAccording to cmc we have a trading volume of $81,831,700 in the last 24 hours.
Even if all miners were to dump all their coins instantly, the "dump by miners" would cover only 1.42% of that volume.
At an available supply of 15,754,767BTC currently (if we ignore those coins not available to the market due to some reasons), the newly mined cois also are rather uninfluential in terms of "supply" seen from an market analytical point.
Well If bitcoin price continues to climb like it did each halving may have the exact same effect (the only difference may be that transaction fees will take a bigger proportion each time, at some point transaction fees will be the main reward).
Bolding the last sentence of my post without reading and understanding it doesn't really help the point you're trying to make.Go back, read my post and answer in a way that builds on it rather than ignoring totally what I have written before that last bolded part.
Do you mean dumping them all as they are mined? I think what he was meaning was perhaps that they have large stocks of BTC held that they can dispose of to cover their fiat liabilities (electricity, ASIC costs, etc), but I think most mining operations sell as they produce.
Even still, those BTC already in circulation do, as you mention, vastly outpower miners in terms of influencing the market (if not the functionality) of unspent outputs.
4years per halving aprox and it is actually total 33 halving when block reward will go from 1 satoshi per block to zero satoshi means no any new bitcoin will be rewarded for mining limiting total supply of bitcoin to 21 million.
Also, frankly, incorrect; I believe in Satoshi's original paper and later communication from Core that if deflation becomes significant the size of the output column will be increased beyond eight decimal places.
That's really a good information for most of the bitcoin users. Now this gives better understanding to the people get aware about its growing potential. Also people starts trusting it more than the present.
4years per halving aprox and it is actually total 33 halving when block reward will go from 1 satoshi per block to zero satoshi means no any new bitcoin will be rewarded for mining limiting total supply of bitcoin to 21 million.
I don't think we need to worry about what happens in 64 halvings time. We will all be dead 
I'm more concerned & interested about the immediate future.
I'm more concerned & interested about the immediate future.
Well, you should be worried, because most people leave some Bitcoins for their kids and they might leave it for their kids and so on and so on. The fact is, the Halving is only something that effects the miners rewards. Once these Halvings are done, we might hopefully see transactions increasing beyond the point where miners rewards have to be necessary and it would be replaced by tx fees. ^smile^
64 halvings x 4 years is equals to 256 years. So possible bitcoin will probably exist 260 years from now. It is bad new or good news. It maybe bad new for future generations but of us it is good news since we will not be able to witness the end of bitcoin.
Then after reading that facts, i decided to hoard some of my btc and I will open it and use after 20 years, since at that time bitcoin will still be alive.
Will you share your thoughts about it and correct me if i am wrong, I believe that multiple minds is better than one.
Then after reading that facts, i decided to hoard some of my btc and I will open it and use after 20 years, since at that time bitcoin will still be alive.
Will you share your thoughts about it and correct me if i am wrong, I believe that multiple minds is better than one.
256 years is long time indeed but according to current estimates, mining should end a lot earlier than that, probably around year 2140. Still, it's extremely unlikely anyone of us here will live to see that day, we'll be relics by then
Except of course if science finds a way to make humans immortal 
I don't think we need to worry about what happens in 64 halvings time. We will all be dead
I'm more concerned & interested about the immediate future.
I'm more concerned & interested about the immediate future.
Well it is about time for miners to spend /dumb their btc more wisely! and maybe ..maybe i say to become a little more strong hands.. this will benefits us all...!
As the reward decreases,miners will have to sell their holdings to cover the cost of mining.This will reduce the prices of bitcoin due to high supplyAccording to cmc we have a trading volume of $81,831,700 in the last 24 hours.
Even if all miners were to dump all their coins instantly, the "dump by miners" would cover only 1.42% of that volume.
At an available supply of 15,754,767BTC currently (if we ignore those coins not available to the market due to some reasons), the newly mined cois also are rather uninfluential in terms of "supply" seen from an market analytical point.
Well If bitcoin price continues to climb like it did each halving may have the exact same effect (the only difference may be that transaction fees will take a bigger proportion each time, at some point transaction fees will be the main reward).
Bolding the last sentence of my post without reading and understanding it doesn't really help the point you're trying to make.Go back, read my post and answer in a way that builds on it rather than ignoring totally what I have written before that last bolded part.
Well it is about time for miners to spend /dumb their btc more wisely! and maybe ..maybe i say to become a little more strong hands.. this will benefits us all...!
As the reward decreases,miners will have to sell their holdings to cover the cost of mining.This will reduce the prices of bitcoin due to high supply 
So far as I read it, it says 64 halvings more to go. After you read it pls comment me your opinion on this.
We'll reach a point where the block reward falls below 1 satoshi.With block #6,930,000 a total of 20,999,999.97690000 of the 21,000,000BTC total supply will be mined.
That's after 33 halvings and as 2 already have passed, it's 31 from now.
Do you really think the halvings after that will have any impact?
61 halvings x 4 years is equals to 256 years. So possible bitcoin will probably exist 260 years from now.
(Despite the numbers being wrong, how do you get to 61 halvings?!)What gives you the idea that with the block reward reaching 0 at block #6,930,000 bitcoin will stop existing?
Bitcoin got the potenatial to exist/be used long over the time of block rewards and new bitcoins being added to the current supply.
Whether or not it will, that's another point for discussion entirely.
But there surely will not be a point where with a single block, bitcoin will stop being used/to exist.
https://news.bitcoin.com/halving-no-affect-bitcoin/
I want you to read this article and look the last paragraphs that says:
"There will be 64 more halvings as the years go by and the network continues to progresses. What we do know is there will only be 21 million BTC, and that the system is far superior to the likes of the Federal Reserve and fractional banking practices."
So far as I read it, it says 64 halvings more to go. After you read it pls comment me your opinion on this.
My opinion is that a journalistic source which can conflate "affect" and "effect" is hardly to be trusted.
64 halvings x 4 years is equals to 256 years. So possible bitcoin will probably exist 260 years from now. It is bad new or good news. It maybe bad new for future generations but of us it is good news since we will not be able to witness the end of bitcoin.
Then after reading that facts, i decided to hoard some of my btc and I will open it and use after 20 years, since at that time bitcoin will still be alive.
Will you share your thoughts about it and correct me if i am wrong, I believe that multiple minds is better than one.
I thought that halving will not kill btc eventually. It will cost even more in the future, when there will be more people wanting to have them and a limited amount of btc Then after reading that facts, i decided to hoard some of my btc and I will open it and use after 20 years, since at that time bitcoin will still be alive.
Will you share your thoughts about it and correct me if i am wrong, I believe that multiple minds is better than one.
If Bitcoin is going to last for 256 years, we presume that the price that time will be sky high.
Now, no one's going to let it die if the price is super significant to everyone. Unless, some business tycoon sabotages the market for his own sake.
Another, a new currency may probably come by then.
Now, no one's going to let it die if the price is super significant to everyone. Unless, some business tycoon sabotages the market for his own sake.
Another, a new currency may probably come by then.
So we got 61 more times to make it more exciting than before
Next halving will be less excited than this. After 5 more halving, the transfaction fee will be more than the block reward.
Those that already experienced the block halving of this month will be less excited for the next block halving, that's right. But as time goes by, more and more people enter the world of Bitcoin, which basically means that there will surely be another round of halving hype mania.
only god knows will bitcoin be alive till all its coins are mined or it will disappear before that. you are talking about more than 2 centuries and there will be a lot of inventions during them that one of them may end bitcoin
If miners are still mining when the bloick reward is only a few satoshis then isnt 1 bitcoin going to have to be worth about a few million to justify running a miner?
We'll see about that in due time. Nobody can currently predict that, as it's gonna be relating on alot of factors yet unknown to us.I was really under the impression that we would have mined all blocks in about 60 years
And then we just stop using bitcoins at all?instead of mining any additional blocks the miners would just be rewarded with transaction fees.
Miners will still have to mine blocks in order to receive the transaction fees from included transactions.No transactions are being confirmed without new blocks being mined.
If there are no new blocks being mined at one point, all bitcoins will be frozen in the addresses they currently are.
That being said, this isn't going to happen.
You're confusing the block reward being 0 with no new block being mined. The first will happen, the latter not.
It will be interesting in about 20 more years if bitcoin actually is still sustaining itself then the price surely will be much higher than we might be thinking at the moment.
It's interesting right now. It's gonna be interesting tomorrow.Sorry my post was confusing when you break it down like that. What i mean is i thought the block reward would have come to an end in about 60 years, not that we would stop mining blocks.
Obviously i don't mean we will stop using bitcoin because the block reward has stopped, i was meaning the reward would instead come as fees.
This is all assuming bitcoin will survive for that long which I'm pretty sceptical about. Heres hoping though.
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