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Topic: Bitcoin halving - page 2. (Read 2119 times)

sr. member
Activity: 322
Merit: 250
https://dadice.com | Click my signature to join!
April 07, 2015, 09:03:26 AM
#10

BTW this thread seems to be more fitting in the mining speculation board.


I think it's speculating more on the impact on the space in general.

It's still quite a way out so I wouldn't want to guess what'll happen. There might be new generations of machinery or miners might go all out to cut costs such as setting up in places with geothermal energy etc.

I would've thought the market would've priced it in long before it happens but you never know.

Is defendly a big deal for farms and big mining operation, either they cut their power consumption and miner cost in halve or the are pretty much done.

Energy-efficient mining farms in cheap energy countries will continue to mine BTC; however, the inefficient one will end being put out of operation like many before.
sed
hero member
Activity: 532
Merit: 500
April 07, 2015, 09:00:40 AM
#9
With Bitcoin halving soon does that mean the price of Bitcoin has to double or is mining just going to stop. Another thought is mining is going to get more efficient. What are some of your thoughts on this matter?

Halving the incoming supply of new coins will have a modest beneficial impact on the price (everyone remember Econ 101 and the Law of Supply and Demand?)

I don't think it will have a sudden impact, since the halvening is a public event everyone can anticipate. And I don't think the impact will be huge, because the current supply of 3600 coins/day is dwarfed by the amount of bitcoin traded every day (50-100 times that?). Still, over time the tighter supply of fresh coins should pull prices in an upwards direction. Bitcoin money supply is currently growing at about 10% annually, making it inflationary in the near term. Cutting that figure to less than 5% will put it into a much more stable rate of growth. And after the next halvening after that it will be growing slower than most well-managed fiat currencies (if there is such a thing), AFAIK.


I agree here completely.  With less btc generated per day, my coins I'm hodling will become more valuable.  More valuable coins gives miners and incentive to stay in the game.  However, I'll also add that our curent network hashrates are super sky high.  I'm sure many miners could drop out and we'd still have a safe network.
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
April 07, 2015, 08:53:29 AM
#8

BTW this thread seems to be more fitting in the mining speculation board.


I think it's speculating more on the impact on the space in general.

It's still quite a way out so I wouldn't want to guess what'll happen. There might be new generations of machinery or miners might go all out to cut costs such as setting up in places with geothermal energy etc.

I would've thought the market would've priced it in long before it happens but you never know.

Is defendly a big deal for farms and big mining operation, either they cut their power consumption and miner cost in halve or the are pretty much done.

Well, they also knew about it even before they started their miners. That's why I don't think we'll see a significantly big amount of miners going offline.
full member
Activity: 165
Merit: 100
April 07, 2015, 08:51:50 AM
#7
With Bitcoin halving soon does that mean the price of Bitcoin has to double or is mining just going to stop. Another thought is mining is going to get more efficient. What are some of your thoughts on this matter?

It doesn't mean anything for the price. It may rise and probably should if the demand is the same of greater but there are no gurantees. And it means literally what it means. Mining will continue but the block reward halves.
legendary
Activity: 3248
Merit: 1070
April 07, 2015, 08:51:32 AM
#6
only two things could happen, value will rise, or the total miners will decrease, the latter will lead to the death of bitcoin for a certain degree or a reset, on the other hand the diff will decrease, and this mean more opportunity for casual miners
newbie
Activity: 16
Merit: 0
April 07, 2015, 08:35:36 AM
#5

BTW this thread seems to be more fitting in the mining speculation board.


I think it's speculating more on the impact on the space in general.

It's still quite a way out so I wouldn't want to guess what'll happen. There might be new generations of machinery or miners might go all out to cut costs such as setting up in places with geothermal energy etc.

I would've thought the market would've priced it in long before it happens but you never know.

Is defendly a big deal for farms and big mining operation, either they cut their power consumption and miner cost in halve or the are pretty much done.
legendary
Activity: 1708
Merit: 1036
April 07, 2015, 08:33:52 AM
#4
With Bitcoin halving soon does that mean the price of Bitcoin has to double or is mining just going to stop. Another thought is mining is going to get more efficient. What are some of your thoughts on this matter?

Halving the incoming supply of new coins will have a modest beneficial impact on the price (everyone remember Econ 101 and the Law of Supply and Demand?)

I don't think it will have a sudden impact, since the halvening is a public event everyone can anticipate. And I don't think the impact will be huge, because the current supply of 3600 coins/day is dwarfed by the amount of bitcoin traded every day (50-100 times that?). Still, over time the tighter supply of fresh coins should pull prices in an upwards direction. Bitcoin money supply is currently growing at about 10% annually, making it inflationary in the near term. Cutting that figure to less than 5% will put it into a much more stable rate of growth. And after the next halvening after that it will be growing slower than most well-managed fiat currencies (if there is such a thing), AFAIK.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
April 07, 2015, 08:28:47 AM
#3

BTW this thread seems to be more fitting in the mining speculation board.


I think it's speculating more on the impact on the space in general.

It's still quite a way out so I wouldn't want to guess what'll happen. There might be new generations of machinery or miners might go all out to cut costs such as setting up in places with geothermal energy etc.

I would've thought the market would've priced it in long before it happens but you never know.
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
April 07, 2015, 08:24:44 AM
#2
To me, it means that some miners could go offline. Not that the bitcoin network is going to shrink dramatically but it will most likely get smaller. It's going to be an interesting event. Many have speculated that after the arms race of ASICs started a bubble was caused and the loss of interest from traders resulted into miners actively reducing the price. Maybe we'll see a shift after the halving.

BTW this thread seems to be more fitting in the mining speculation board.
newbie
Activity: 32
Merit: 0
April 07, 2015, 08:21:39 AM
#1
With Bitcoin halving soon does that mean the price of Bitcoin has to double or is mining just going to stop. Another thought is mining is going to get more efficient. What are some of your thoughts on this matter?
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