Bitcoin Halving only 1 year away - page 5.

tbct_mt2

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Quote from: Gianluca95 on April 09, 2023, 02:55:54 AM

It seems that halving is became only an event relative to the speculation behind Bitcoin. Naturally everyone is waiting for it, but in my opinion halving is something that should track only progress made with Bitcoin from its

I feel very interesting to see how people feel hype with halvings. It is like they only know about halvings when it comes and did not know about it years ago. Many people did not read Bitcoin whitepaper, Bitcoin wiki and did not know that Bitcoin has four-year halving in its design. Another thinking is they knew about it but they just think halving is nothing in bear market but in bull market, they change their mind and think Bitcoin halving helps Bitcoin to double its price or more to make new all time high.

Quote from: hosseinimr93 on April 09, 2023, 06:17:26 AM

The total hash rate will probably decrease after the halving, but it will increase again after a short time. After the halving, blocks will probably take more than 10 minutes on average to be mined, but everything will become normal again after the first difficulty adjustment.

That hash rate shock won't last more than 2 difficulty adjustments. In history of cryptocurrency mining, mining bitcoin is a most profitable and safest choice for miners. If they mine Bitcoin forks and other altcoins, they can end with low trading volume, lower price and they will have negative balance sheet for their mining operations.

Lillominato89

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Too bad I won't be there in 2136 to see the halving era with 1 satoshi block reward! who knows how much 1 satoshi will be worth! if nakamoto's vision is right i believe that a satoshi could be worth even more than a dollar! what do you think? just to talk about it, maybe then I'll have my great-grandchildren explain the final price 😅

Outhue

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I'm excited just like you guys, Bitcoin having season is always a celebration, it has become a popular thing among holders and miners because most cases this is what triggers a new wave of adoption, and expectedly Bitcoin always performed better after every halving is successfully over, things will look ugly at first for miners, but after the dust have settled a better adaptation will take place, Bitcoin miners have to earn less, there is no way this won't happen, but they always get used to it after the halving.

hosseinimr93

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Quote from: Asuspawer09 on April 09, 2023, 01:53:16 AM

At the same time, there will be a huge effect again on mining rewards means a lot of miners possibly will not be profitable anymore at that point that could also reduce the network hash rate resulting in a longer transaction time and reduced the security of the network.

The total hash rate will probably decrease after the halving, but it will increase again after a short time. After the halving, blocks will probably take more than 10 minutes on average to be mined, but everything will become normal again after the first difficulty adjustment.
After the previous halving, the total hash rate of network decreased from around 135 Ehash/s to around 85 Ehash/s in 10 days. That was around 37% decrease in the total hash rate. After that, the total hash rate increased again. Now the total hash rate is around 350 Ehash/s. The same thing will probably happen after the coming halving.

Gianluca95

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Reputation first.

It seems that halving is became only an event relative to the speculation behind Bitcoin. Naturally everyone is waiting for it, but in my opinion halving is something that should track only progress made with Bitcoin from its

creation. As someone said, we are still early and I think that we needs at least other 10 years to let Bitcoin known from everyone.

PS: Happy Easter to everyone !

Asuspawer09

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That just means that it's still early and we have a lot of opportunity to accumulate Bitcoin in the coming years. I mean it could easily boost the hype of the market for sure when the halving is near the market price is going to skyrocket again meaning it could be profitable for a lot of investors.

At the same time, there will be a huge effect again on mining rewards means a lot of miners possibly will not be profitable anymore at that point that could also reduce the network hash rate resulting in a longer transaction time and reduced the security of the network.

Popkon6

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Many experts have expressed opinions on Bitcoin halving but I think these opinions will materialize. The year 2024 is indicated by Bitcoin and the block halving was equal to 7.1428 in 2020 but will be halved in 2024 at 3.33333%. (2020-2021) The price of Bitcoin will increase by three times in 2024 and the amount of BTC will be about 2,00,000 dollars. Eventually the current investors will fall into Bitcoin mining. So keep Bitcoin your own for 2024.

KiaKia

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Thanks for the reminder, all eye are on Bitcoin halving in 2024, I am expecting a better Bitcoin adoption from that time on, between April 2024 to June 2024 I expect a better Bitcoin value starting from that point of time, hopefully, 2025 will be a glorious year just like 2021 was.

Things are going go get tougher for Bitcoin miners around the world because their piece of the pie will have to be cut into two, again, but will make sense if Bitcoin holds a more stronger value in the 2026 bear market.

By that time the new lows might be 25,000$ or even 30,000$, I am excited for the future.

BitDane

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Quote from: Husires on April 08, 2023, 11:28:47 PM

Halving has not a direct importance to the average user, as he does not feel any change, as the network will work as it is and the fees as well. Perhaps the only effect is the price, but the price change needs about a year or a year and a half after Halving.

Bitcoin users, those who use Bitcoin for payment doesn't care about the halving. Bitcoin just come and go in their hands since they are using it to pay for purchases while Bitcoin holder does care about Bitcoin halving. Bitcoin holder assume that halving will have an effect to their Bitcoin portfolio value, it somehow signal that the uptrend and increase of their holding's value is in hand.

Quote from: Husires on April 08, 2023, 11:28:47 PM

Miners are the ones who will feel the impact, and therefore the time has become tight, and you must recover your profits during this year, otherwise the accounts will change a lot.

I agree miners are the ones who are greatly affected by halving. With the halving of reward and increasing difficulty, if the price of Bitcoin do not increase and catch up to fill the decrease in blockchain reward and ever increasing cost of electricity, miners will end up losing.

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Quote from: thecodebear on April 08, 2023, 11:15:50 PM

Get ready for 6 figure bitcoin prices to become the norm, though we'll probably get a year's worth of 5 figure prices again during the next bear market before they are gone forever.

I think this is most likely. On the one hand because of the reduction in supply and on the other because of the expansion of the money supply, which, however much it has ups and downs, is going to continue to expand, increasingly devaluing fiat currencies. For after the next halving the most likely scenario is that the price will clearly pass $100k (after several attempts) and my doubt is whether it will pass $200k, which I think is unlikely. But I also think that the most likely scenario is as you say that in the next bear market we will return to sub $100k levels.

What we have to keep in mind is that Bitcoin is becoming increasingly scarce and fiat currencies are becoming increasingly junk.

Jating

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And yeah, as early as 2036 or 2040 halving, we will have "almost mine" bitcoin, so it will very hard to acquire as the price is definitely going to increased and who knows what will be the price that time, we might be seeing close to $500k or even $1 mil a pop?

So it's a reminder for us to just accumulate as many as we can. We could sell some in the next bull run, but least still accumulate and HODL and look for long term as bitcoin might be the way for our financial freedom for us and for our family.

Husires

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Halving has not a direct importance to the average user, as he does not feel any change, as the network will work as it is and the fees as well. Perhaps the only effect is the price, but the price change needs about a year or a year and a half after Halving.

Miners are the ones who will feel the impact, and therefore the time has become tight, and you must recover your profits during this year, otherwise the accounts will change a lot.

Bitcoin Halving time is still in doubt, as some estimates still give a margin of error of several days.

thecodebear

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Exciting. One year away.

During the next halving cycle Bitcoin will pass 20 million bitcoin....the last time the supply hits an even million number (since the supply cap is a couple thousand Sats under 21 million)! It's crazy to think how few Bitcoin there are left to be mined. Within a few cycles the halving probably won't have that much of an effect because its just going to be one constant supply crunch happening all the time rather than just for a year or so after each halving.

Annual inflation on the supply after the halving is gonna be under 1%. It'll finally be under Gold's inflation which is pretty stable around 1.5% annually. We all best be loading up on Bitcoin this year!!

Get ready for 6 figure bitcoin prices to become the norm, though we'll probably get a year's worth of 5 figure prices again during the next bear market before they are gone forever.

MusaMohamed

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Halving progress: https://buybitcoinworldwide.com/stats/halving-progress/
Compare bull markets: https://buybitcoinworldwide.com/stats/compare-bull-markets/

They are good visual charts to compare Bitcoin market cycles and have idea to speculate on what might happen in a coming halving.

To have wider vision for your Bitcoin investment, reading Controlled supply and another representation of it by Equivalent Network Time are helpful.

fathafraink

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A great reminder for people who are still actively trading Bitcoin rather than being an investor in Bitcoin itself. It's really very lucky for those of us who are still in the early stages of getting to know Bitcoin. I'm still curious about how it will be during the last halving, will the era be a completely decentralized era? or even people will start leaving Bitcoin especially miners because they no longer get their block reward.

1miau

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Quote from: Upgrade00 on April 08, 2023, 05:25:31 PM

When the mining reward becomes much lower would that also lower the effect of the halving on the price and the sentiments of traders?

It is expected for the halving to be already mostly a psychological event.
We just need to look up the number how much volume of Bitcoin is traded daily on exchanges and how much is mined daily. Currently (6.25 BTC x (6 (Blocks per hour) x 24 hours x 28k / BTC) = 25 000 000 USD of BTC mined daily). It's a very tiny amount.
And even then, we haven't taken into consideration that some Bitcoin are traded P2P, which doesn't reflect on exchange volumes.
Halving is already mostly a psycological event.

Quote from: Fivestar4everMVP on April 08, 2023, 05:40:54 PM

Quote from: 1miau on April 08, 2023, 04:03:12 PM

And honestly, we need to admit that 3.125 BTC per block is very low

If earning 3.125 bitcoin per block is very low, what then are we to say concerning the reward per block for other years that are still ahead after the 2024 halving comes and go??

It is very low compared to 50 BTC / block, 12 years ago.
But 12 years is a very long time and Bitcoin's price has increased a lot since Bitcoin had 50 BTC / block.
In 12 years from now, I expect Bitcoin's price to be much higher compared to where it is now.
And Block rewards will get replaced by transactions fees over time, where transaction fees will become the main source of revenue for miners.

Sarah Azhari

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Quote from: 1miau on April 08, 2023, 04:03:12 PM

Bitcoin's next halving is only 1 year away.

We can't hear that halving on fiat and gold. This is what makes Bitcoin unique and special. Satoshi creates Bitcoin to repair the deficiency of fiat and gold. And, Actually, if supply reduces (halving), and demand increases, the price will follow a basic economics lesson. Yes, we cannot ignore that 4 years of facts if Bitcoin knows the basic principles of economics.

but, there are still many hypocrites who do unbelieve even have followed it 13 years ago. I don't know the reason, but usually, people like this start to love when H+2, or late.

Yatsan

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Quote from: hatshepsut93 on April 08, 2023, 06:29:29 PM

I think with every halvening the effect on the price will be smaller and smaller, because the absolute decrease in rewards is also getting smaller. Soon 93% of all coins will be mined, so most of the scarcity is already priced in. The price is a result of supply and demand, and demand will play bigger and bigger role while supply is approaching the limit.

We already saw only 3.5 times increase between bull market peaks of the last two cycles - so maybe the next will bring only a x1.5-1.75 increase, so $100k peak of the next cycle.

Valid point actually, but bottomline is no one's certain of what could happen on the next Bitcoin halving. The impression only was made with what happened before but since things does not actually repeat in this market, we might really see changes;could be a bigger lift with the price, smaller, or none. The only thing that would prove is once 'it' already happen. Not all fork are creating a huge wave in terms of market price; example was with Ethereum. Would be good to invest early but be sure to manage the risks involved especially with the amount because anything could happen before, during, and after this anticipated halving.

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Quote from: Z-tight on April 08, 2023, 06:38:26 PM

A good reminder. Weak hands who do not trust BTC and only buy when halving is about to happen will be getting ready to buy soon, i know bitcoiners are usually optimistic about halvings because it causes bull runs leading up to new ATH's, and this is based on past events and history, and even though i know history does repeat itself, i advice that you don't do stupid things like taking loans to invest in BTC, or using your rent or selling your house just to invest in BTC.

No, these people who are encouraged by hype does not buy when halving is about to happen, they are buying when the price of surging making them lost and forcefully sell their holding when Bitcoin price crashes after the breaking of ATH.

Quote from: Z-tight on April 08, 2023, 06:38:26 PM

The best way to gain returns from the bull run isn't by buying a large sum when the halving is close, it is by starting now to buy bit by bit through dca, the dca technique reduces your risk and gives you a better chance of profit in the long period, do not fomo buy.

I agree, DCA during the bear market and even at the time of the price starting to pick up is a good way to maximize profit. If we are able to hold it for another record-breaking ATH, (not the one to happen in the current cycle) I think we can have life-changing profit if we are able to sell them on the said Bitcoin surge.

Z-tight

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A good reminder. Weak hands who do not trust BTC and only buy when halving is about to happen will be getting ready to buy soon, i know bitcoiners are usually optimistic about halvings because it causes bull runs leading up to new ATH's, and this is based on past events and history, and even though i know history does repeat itself, i advice that you don't do stupid things like taking loans to invest in BTC, or using your rent or selling your house just to invest in BTC.

The best way to gain returns from the bull run isn't by buying a large sum when the halving is close, it is by starting now to buy bit by bit through dca, the dca technique reduces your risk and gives you a better chance of profit in the long period, do not fomo buy.

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