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Febo

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Quote from: bitart on October 28, 2015, 06:00:21 PM

Quote from: BitcoinCounty on October 28, 2015, 09:02:55 AM

Quote from: bitart on October 28, 2015, 08:13:50 AM

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.

And what about the transaction fees? If there will be 50% less miners, they have to process the same amount of transactions like before halving. Transaction fees should rise or the process time should get longer if transaction fees doesn't change.
Today if you want to urge your transaction you can choose priority fees or if you have time to wait you can choose economy fees, there is a difference that is noticeable already.

If there will be 50% less mines, it only mean that blockchain is more vulnerable for an attack. Transactions will be still made. When number of transactions will increase that much to not fit in a block developers will increase the block size. there was lots of talks about that already, to make right timing and how much to increase size.

bitart

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Vires in Numeris

Quote from: BitcoinCounty on October 28, 2015, 09:02:55 AM

Quote from: bitart on October 28, 2015, 08:13:50 AM

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.

And what about the transaction fees? If there will be 50% less miners, they have to process the same amount of transactions like before halving. Transaction fees should rise or the process time should get longer if transaction fees doesn't change.
Today if you want to urge your transaction you can choose priority fees or if you have time to wait you can choose economy fees, there is a difference that is noticeable already.

BitcoinCounty

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Quote from: bitart on October 28, 2015, 08:13:50 AM

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.

bitart

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Vires in Numeris

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?

Amph

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Quote from: Yerm on October 27, 2015, 05:49:28 PM

Quote from: odolvlobo on October 27, 2015, 05:46:32 PM

Quote from: BitcoinCounty on October 27, 2015, 10:18:20 AM

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

Sourgummies

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Never ending parties are what Im into.

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

Yerm

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Quote from: odolvlobo on October 27, 2015, 05:46:32 PM

Quote from: BitcoinCounty on October 27, 2015, 10:18:20 AM

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

odolvlobo

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Quote from: BitcoinCounty on October 27, 2015, 10:18:20 AM

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.

BitcoinCounty

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Gradually, the fresh supply of bitcoin matters less and less. The wide adoption of bitcoin is most important of all.

prodigy8

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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.

odolvlobo

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Quote from: Mickeyb on October 25, 2015, 06:51:23 AM

Quote from: Amph on October 25, 2015, 03:38:34 AM

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.

QUEDOS

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Quote from: dothebeats on March 09, 2015, 01:40:12 PM

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. Huh

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

Slark

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Quote from: Tess The CoinzMaster on October 25, 2015, 06:57:39 AM

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.

BitcoinCounty

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Quote from: bitart on October 26, 2015, 07:03:47 AM

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.

bitart

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Vires in Numeris

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?

Amph

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Quote from: BitcoinCounty on October 25, 2015, 06:55:57 AM

Quote from: Amph on October 25, 2015, 03:38:34 AM

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

NorrisK

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Quote from: Mickeyb on October 25, 2015, 06:51:23 AM

Quote from: Amph on October 25, 2015, 03:38:34 AM

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.

Tess The CoinzMaster

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Price will go up, I think.

Everything points that way...

BitcoinCounty

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Quote from: Amph on October 25, 2015, 03:38:34 AM

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.

Mickeyb

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Move On !!!!!!

Quote from: Amph on October 25, 2015, 03:38:34 AM

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!

Topic: A noob question. (Read 3515 times)