Antonopoulos answers the question about the impact of halving - page 2.

pakhitheboss

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1. Mining: The least efficient miners will face unprofitability because of the halving. Thus some miners are likely to turn off their equipment, leading to the drop of the difficulty rate, and mining remaining profitable to those who are still in the game.

It is a known fact, only the fittest will survive after halving.

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2. BTC price: He calls making price predictions 'irresponsible', even comparing it to astrology.
It's also quite interesting how he interprets the previous halvings, saying that 'nothing much' happened in the short-term and mid-term perspective. And thus he believes that this is the likeliest thing to happen this time.

Cryptocurrency market has been dominated by Whales so it is really impossible to predict the price using technical analysis. Furthermore the marketcap is very small as compared to the stock market. Hence manipulation is very easy for whales.

Only news based analysis works in this market.

Darker45

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This man knows what he is talking about unlike so many others who seem to feel that they are already experts merely because they are hodling hundreds of BTC. This man sounds objective in his opinions. Agreeing with him is a bit easy.

Predictions based on analyses are nothing but attempts to understand the patterns of BTC's movements. Well, more often than not, they are too far from being accurate. And then there are those that are nothing but attempts to create hype and FOMO among people.

As regards halving, Andreas' idea seems to coincides with theymos' when he pointed out that "Historically, the post-halving runup has happened some time after the halving, presumably after people started to really feel the reduced supply." So the reduction will take some time to sink in. These must be enlightened views on it.

mk4

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Quote from: hatshepsut93 on April 11, 2020, 07:30:15 PM

I think he's too harsh on the price predictions, TA is not completely useless if done correctly, same goes for fundamental analysis. Let's be honest, majority of people come to Bitcoin for trading, so speculation is a huge part of Bitcoin discussions, and I don't think there's anything wrong with that. And I'm sure that at least some of the predictions are quite reasonable and some will become true.

It's probably less that he thinks that TA is 100% useless, it's more of because that he is a huge name in the bitcoin/cryptocurrency space and he wouldn't want to give false promises by making these useless price "predictions". It's not like you can use TA and FA to know for sure how the markets will move, they just help you by estimating the odds. Also, price predictions are hugely counter-productive in the first place.

omone1

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I have since thought the likelihood of some miners who are not using advanced machines and don't have access to cheat electricity as their counterpart. If there is no o immediate price increase in bitcoin some miners may very well drop out, but for people with cheap electricity, there is no need for dropping out.

hatshepsut93

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I think he's too harsh on the price predictions, TA is not completely useless if done correctly, same goes for fundamental analysis. Let's be honest, majority of people come to Bitcoin for trading, so speculation is a huge part of Bitcoin discussions, and I don't think there's anything wrong with that. And I'm sure that at least some of the predictions are quite reasonable and some will become true.

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Quote from: kryptqnick on April 11, 2020, 09:21:12 AM

I realize it's just one person's opinion but I do have respect when it comes to this one, so maybe it's an interesting topic to discuss.

1. Mining: The least efficient miners will face unprofitability because of the halving. Thus some miners are likely to turn off their equipment, leading to the drop of the difficulty rate, and mining remaining profitable to those who are still in the game.

In 2012, the hash power dropped after halving but later increased. That means, some miners left the industry while later in 2013, some later came into mining again as other new miners also join and this increase the hash power.

In 2016, this repeats it self again and the hash power increased.

So, after May, 2020 halving, it is certain that some miners will leave but we do not know what the price of bitcoin can be. The price is the determinant.
If the price does not increase, it is very likely that hash power will reduce but if the price of bitcoin later increase, then, more miners will join in mining again and hash power will increase.

So, it depends on the bitcoin price.

coolcoinz

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He's a great speaker and I always feel engaged when I hear his interviews or explanations. Definitely one of the best frontmen that Bitcoin could have.
I agree with him. Making price predicrion when Bitcoin does not only depend on itself but also on multiple outside factors like the situation on the stock market is like trying to read someone's palm and tell future. You can analyse the charts, but past performance is only one of a dozen things in play here. Traders are not the only people playing this game.

tomahawk9

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Holy crap! TA purists and btc speculation fans just got BTFO by no other than Andreas Grin

For those who didn't watch the video, he said:

Quote from: https://www.youtube.com/watch?v=2TiAPAYY0NA

"prediction about the price is the same as astrology and reading tea leaves"

Damn!

Quote from: https://www.youtube.com/watch?v=2TiAPAYY0NA

"saying things like the head-and-shoulders pattern that is declining through the 200MA indicates that blah blah blah is equivalent to saying the price will do this because Mercury is in ascendant in the constellation of virgo"

Savage!! LOL

On another note, I wonder if the "small time" miners would be open to moving their hardware to countries where electricity cost is cheap. If i'm not mistaken in most countries in central and south america electricity subsidies are very common.

mk4

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Well, sure. It's not like his answer concerning mining was an uncommon or controversial opinion. It's actually the likely outcome; especially knowing that the price is likely to stay the same in my opinion(or even drop a bit) in the short term after the halving.

webtricks

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Quote from: kryptqnick on April 11, 2020, 09:21:12 AM

Do you agree with him?

Well, there isn't anything controversial said by Anto in the video to disagree. He just narrated the aftermath of halving and it is evident that mining will become unprofitable for certain weak miners due to reduction in rewards. Low numbers of miners = Lower difficulty, hence, mining will still be profitable for other miners.

He is absolutely right about price. Simply because miners will get lower rewards doesn't mean price of bitcoin will increase. I doubt market solely moves on demand/supply model. It is comparatively more effected by speculation. So, the price may move in totally unexpected direction after halving, who knows.

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When regards to mining, he got a point, of course the halving will give them downside due yo reducing the blockreward, so I am confuse how others saying btc halving will be one of the reason of its pump. But since difficulty will be lowered, some will benefit though, as what he says those are staying on the game. Miners arent just a quick earned people. They also probably have knowledge about charts so instead selling btc for profit and consumption they budget it and save some when its price increase.

On the case of price prediction, as long its not a wild guess then its not a bullshit thing. I mean, if there are back up or proof of what his predicting this could be accepted.

kryptqnick

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I realize it's just one person's opinion but I do have respect when it comes to this one, so maybe it's an interesting topic to discuss. Yesterday, he published a new video on his Youtube channel where he talks about halving.
Here are some ideas I've circled out from the video.

1. Mining: The least efficient miners will face unprofitability because of the halving. Thus some miners are likely to turn off their equipment, leading to the drop of the difficulty rate, and mining remaining profitable to those who are still in the game.
2. BTC price: He calls making price predictions 'irresponsible', even comparing it to astrology.
It's also quite interesting how he interprets the previous halvings, saying that 'nothing much' happened in the short-term and mid-term perspective. And thus he believes that this is the likeliest thing to happen this time.

Do you agree with him?

Topic: Antonopoulos answers the question about the impact of halving - page 2. (Read 393 times)