Bitcoin Halving Countdown and Other Data - page 3.

odolvlobo

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Quote from: bitmover on September 03, 2019, 03:20:26 PM

Miners need to sell their btc to pay for their costs. They are a big supplier.

You are speculating. You don't really know if they are a big supplier or not. Also, if miners "are a big supplier", then you would expect the price to be falling all the time as they continue to sell new bitcoins every day.

Quote from: bitmover on September 03, 2019, 03:20:26 PM

All past halvings affected the price a lot (as the graphic posts by tbct_mt2).

There is no correlation. There was a steep rise in price a few months after the first halving, but not after the second halving (unless you include the rise that followed more than a year later. Furthermore, there have been several steep increases that do not coincide with any halving.

Quote from: bitmover on September 03, 2019, 03:20:26 PM

About LTC, you cannot compare any altcoin with bitcoin. Because altcoins are simple not bitcoin. They are used to by smart people to accumulate btc, and for that only.

Litecoin works just like Bitcoin. There would be no reason for an opposite behavior. Litecoiners say that the price falls because miners must sell extra litecoins to cover loses after the halving.

ichai

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That is also the reason why Bitcoin has grown so strongly over the years. because many investors saw the potential of Bitcoin and started buying from the very beginning.
Halving will take place every 4 years and we can stop the inflation rate by buying Bitcoin and holding it for 12 years. Certainly our portfolio will increase greatly because of the growing demand for Bitcoin.

sana54210

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Quote from: Polo7 on September 04, 2019, 09:07:24 AM

Bitcoin halving does Not make difference!
Until the BTC will have more use and utility.

What really matter is If stable Currency is used to push Up BTC price.

Halving really Not make BTC Go up

We will still get to that age in time, where people would be more used to bitcoin for utility and not for assets purpose as most of them do see it now, but because people use bitcoin more for investment, the halving might really have an effect on bitcoin in the sense that many people already have this in their mindset, so when bitcoin halving is nearing, you will find most people trying to but bitcoin at that time, and you now that the formula for an increased value is demand.

There will be more demands of bitcoin, thereby creating a surge in the price, and then you see many people boasting that it was the halving and not knowing that the increase was as a result of little fomo that the halving created that time, which made way for lots of demands of bitcoin then.

el kaka22

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This is going to be one of those days where it is do or die for bitcoin, it is not gonna die obviously but depending on how we react to this date we may actually end up with being super mainstream and quite common. I am not joking, thanks to this halving the amount of bitcoins sold will be going down significantly everyday, we are talking about 900 bitcoins less every single day and that means a lot, it will help with volatility as well, we go up but we go down because when we go up it is our own efforts however when we stop then miners destroy all we worked for.

I am hoping with this we will get the adoption rate high as well, that way we can get more people into bitcoin and the price will go up and we will be able to use it anywhere we want like back in 2017 peak era.

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Quote from: bitmover on September 04, 2019, 07:07:59 AM

Hashrate doesn't matter.

If they produce new asic with better hashrate or if miners leave, the difficult will be adjusted accordingly to keep 10minutes average block mining. It will be 256 (now 255) days, or very close to that.

It actually can influence it more than a few days.
https://btc.com/stats/diff

There adjustments ago the difficulty spiked by 10%, that alone brought the halving closer by a 1 day and 7 hours alone.
If we consider an average increase of only 3% it would bring the date closer by ten days.

If the price spikes again and we see people buying gear like mad again we could actually see the halving a whole month earlier.

Quote from: odolvlobo on September 03, 2019, 02:13:08 PM

1000000 BTC are traded every day. A change of only 900 is not going to have any impact.

Hm......this reminds me of something....

Quote from: odolvlobo on July 24, 2019, 06:35:45 PM

Keep in mind that 99% of that volume is fake (as a rule of thumb).

So it's not 1 million BTC, is actually 10 000, and 900 means 9% of it. Grin

Polo7

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Bitcoin halving does Not make difference!
Until the BTC will have more use and utility.

What really matter is If stable Currency is used to push Up BTC price.

Halving really Not make BTC Go up

tbct_mt2

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Hashrates relate to difficulty, and difficutly in turn relates to mining profits and price of bitcoin. When difficulty hits peaks, price will fall, then weak miners capitulate. After weeks or months, when there are only strong miners stay, price will rise again, then difficulty rises too. That cycle repeates over and over again in history of bitcoin. For all reasons above, I disagreed with your statement.

muhhentuhhen

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Quote from: royalfestus on September 03, 2019, 04:25:25 PM

This chart has given me a lot thought of since I saw it some days ago. My challenge is the possibilities of ever getting so high price at the speculated time.. It is mere speculation with no factor to support it, scarcity, adoption rate and block reward are sometimes mentioned and it doesnt look good enough for $100k price IMO.

Considering that Bitcoin miners will earn 50% less in 2020, we can conclude that for many such a business will become unprofitable, there will only be large investors who have cheap or completely free electricity. Immediately after halving, you can expect the sale of used equipment and lower prices in stores. So those who plan to enter mining now should wait for 2020 and buy equipment profitably.

mu_enrico

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Quote from: bitmover on September 04, 2019, 07:07:59 AM

Hashrate doesn't matter.

Interesting, let's do the experiment here:
255 days = ( 255 * 24 * 60 ) / 10 = 36,720 blocks

If we count back 36,720 blocks from today, we should go back 255 days in time, right?

Latest block hash: 593,203 (2019-09-04 12:20:28)
Thus, the -255 days block hash should be 593,203 - 36,720 = 556,483 (2019-01-01 04:27:16)

What's the actual time difference?
246 days, 7 hours, 53 minutes and 12 seconds

Am I correct?

Lanatsa

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Quote from: bitmover on September 03, 2019, 01:12:17 PM

Hello all,
I just found this website https://bitcoinblockhalf.com/ with some interesting data:

1800 BTC per day is a lot. In 256 days we will have only 900 new btc per day, which is quite interesting and will certainly impact the price.
It is hard to price in a halving before it occurs, because it affects the supply of bitcoin on exchanges.

Inflation rate is still very low. Global inflation rate is about 3,58 (https://www.statista.com/statistics/256598/global-inflation-rate-compared-to-previous-year/)
Next year we will be about 1/2 global inflation rate. Lets see how we go.

This is the primary site which been commonly visited by those people who do really like to know the countdown on when would be the next halving.
It do really shows off those all information about block rewards and what would be halved on that particular days.Usually price do rally up when this event do come
because supply would really be cut in half and come to think if the demand would continue to rise up in next year and on upcoming years to come then expect price of btc will soar
up due to that common reason.Its just a simple law of supply and demand.

bitmover

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Quote from: mu_enrico on September 04, 2019, 05:42:47 AM

Quote from: bitmover on September 03, 2019, 01:12:17 PM

Today, the halving countdown is 256 days.

I think it's only approximate value since hashrate always fluctuates. Who knows there will be new generation ASIC machines produced shortly.

The halvening indeed will be interesting since if the price cannot rise to cope with mining profitability as @buwaytress said, we will see a significant temporary drop in hashrate. So, how the market - miners react to the new "equilibrium" will be something worth to see.

Hashrate doesn't matter.

If they produce new asic with better hashrate or if miners leave, the difficult will be adjusted accordingly to keep 10minutes average block mining. It will be 256 (now 255) days, or very close to that.

davis196

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The only thing that pumps the bitcoin price up is the demand for bitcoins.
Halving does reduce the supply a little bit,but without demand for btc,the bitcoin price will go down after the halving.During all those years,the bitcoin price went up only because bitcoin got more popular and more people adopted it.The 2017 ATH was due to the anticipation of bitcoin futures trading,not because of the 2016 halving.

mu_enrico

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Quote from: bitmover on September 03, 2019, 01:12:17 PM

Today, the halving countdown is 256 days.

I think it's only approximate value since hashrate always fluctuates. Who knows there will be new generation ASIC machines produced shortly.

The halvening indeed will be interesting since if the price cannot rise to cope with mining profitability as @buwaytress said, we will see a significant temporary drop in hashrate. So, how the market - miners react to the new "equilibrium" will be something worth to see.

tbct_mt2

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Quote from: jossiel on September 04, 2019, 12:59:33 AM

It's getting exciting to those that have endured all of the painful days of the bearish market and can still hold bitcoin on their stash. Numbers don't lie and to those who have witnessed all the past 3 halving can figure it out that the same effect would come after the next halving next year or someone who are relying to the charts.

History can repeates itself, and we all can patiently wait for it with next halving next year to enjoy coming bull run of Bitcoin back to its all time high first, then taking off to the Moon in late of 2020 or early four months of 2021.

Quote

But it wouldn't be on instant. The halving for Litecoin didn't do that much but I look forward for bitcoin's halving as it shouldn't be compared to alts because it's greater and incomparable.

Halving effects, if occur, can only occur and maintain over months for Bitcoin. For altcoins, if halving effect occur, it will not last for too long, because basically price of altcoins in general seriously affected by bitcoin price. Hence, when halving effects coole down after weeks, and bitcoin forces altcoins falling, altcoins will fall despite of how powerful halving effects are. That is exactly what we saw with Litecoin last 8 months.

buwaytress

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What's always been interesting for me, isn't so much how many coins we're getting a day, but how much dollar value is being generated every ten minutes (on average).

It's going to be really interesting for me to see, assuming price doesn't change much in the next 8.5 months, how the market (and not the network) copes with generating $1,250,000 every 10 minutes to just over $625,000.

OR shall we use a better perspective of $18 mill a day to just $9 million.

jossiel

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It's getting exciting to those that have endured all of the painful days of the bearish market and can still hold bitcoin on their stash. Numbers don't lie and to those who have witnessed all the past 3 halving can figure it out that the same effect would come after the next halving next year or someone who are relying to the charts.

But it wouldn't be on instant. The halving for Litecoin didn't do that much but I look forward for bitcoin's halving as it shouldn't be compared to alts because it's greater and incomparable.

royalfestus

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This chart has given me a lot thought of since I saw it some days ago. My challenge is the possibilities of ever getting so high price at the speculated time.. It is mere speculation with no factor to support it, scarcity, adoption rate and block reward are sometimes mentioned and it doesnt look good enough for $100k price IMO.

cryptobaro

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Quote from: tbct_mt2 on September 03, 2019, 01:23:36 PM

There is a price chart, with line breaks on halving days. There is interesting fact that on halving days, bitcoin price does usually not surpass it previous all time highs, but I do hope bitcoin will change its history with halving in 2020 because it seems bitcoin has stronger communities globally and bigger demands as well as blockchain and crypto currencies have not yet strange terms for people.

Oh well when I see this chart I think that BTC has a chance to get over 100k after halving, but on the other side I feel like it will remain below 15k for years.. Let's see what it will do, waiting excitedly.

bitmover

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Quote from: odolvlobo on September 03, 2019, 02:13:08 PM

1000000 BTC are traded every day. A change of only 900 is not going to have any impact. The halving does not lower the supply. The supply is always increasing.

This doesn't mean that 1000000 individually BTC are traded everyday. A single BTC can be traded one thousand times a day.
A sell to B, that Sell to C, that sells to D, and so on, the same btc.

Miners need to sell their btc to pay for their costs. They are a big supplier. All past halvings affected the price a lot (as the graphic posts by tbct_mt2).

About LTC, you cannot compare any altcoin with bitcoin. Because altcoins are simple not bitcoin. They are used to by smart people to accumulate btc, and for that only.

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