Bitcoin Halving: What is it? - page 2.

Debonaire217

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In Code We Trust

Quote from: wxxyrqa on February 13, 2020, 11:48:45 AM

At the very least, you should not be afraid of another halving, since the history of the cryptocurrency market shows that in 2013 and 2016, by halving the rewards to Bitcoin miners, the user received a significant increase in the price of Bitcoin. Therefore, I expect only a positive change in the situation on the cryptocurrency market due to this event, which is probably already starting to happen today, as we already see significant signs of a bullish run. But the significance of this process confuses me a bit, because everywhere halving is referred to as the process of combating bitcoin inflation. But How can inflation be carried out if bitcoins have a certain number of coins? Maybe I haven’t studied everything yet, but for me this question remains a dilemma.

Instead of getting afraid of the bitcoin halving, we should consider thinking about its positive effect to the community especially to the market price of bitcoin because of the miners tending to sell their bitcoin at higher price despite of the risk of them, leaving the mining industry because of the lower bitcoin reward.

Upon thinking about this, my perspective about the bitcoin halving is that, it is a thing we should celebrate but the celebration would be long or term. After the bitcoin halving, the effect will not take place or will not be readily experience. Thus, we need to wait for a year or two to feel that the market price is increasing.

gundala

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Some of the members above have given corrections that the explanation from the sources pinned by the OP contained several errors. It would be better if the OP took from a better source for discussion. This is a pretty important lesson for us to know bitcoin technically. One article that I recommend is Bitcoin Halving, Explained

This halving moment became one of the awaited turning points in an increase in market interest. In the previous period, the halving moment managed to make the price of BTC rise several times and this is what eagerly awaited by a crypto enthusiasts to make more profit.

Dmasked

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Halving is the process of decreasing the rate of issuance of New Currencies, In Other Words, Reducing The Bonuses Of Mining Blocks Provided To Two Bitcoin Minerals
Halving Bitcoin Events: In The Past Two Halving Events For Bitcoin Occurred In The Year 2012 And In 2016, And We Are On The Third Halving Date In May Of 2020, And The Last Halving Event Will Be In The Year 2140 Where The Last Block Will Be Mining On The Bitcoin Network And 21 Million BTC Will Be Completely Extracted.

Latviand

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Quote from: Jawhead999 on February 10, 2020, 12:03:33 PM

I'm suprised you still don't know about bitcoin halving since you're 3 years in this forum
In short Bitcoin halving is a block halving is a process of reducing the rate at which new cryptocurrency units are generated. More explanation on this link :
https://cointelegraph.com/explained/bitcoin-halving-explained

Quote from: resty on February 10, 2020, 11:34:21 AM

Does the future of bitcoin be affected? Is this good or bad? Should we still invest in Bitcoin?

It's totaly a GOOD NEWS for bitcoin, because when bitcoin block is halving, the price of bitcoin will raise up. You should buy or hold bitcoin before bitcoin halving.

Quote

To date and until May 2020 we have 12.5 Btc for block and about 1800 Btc mined every day. Then we will have:

03/01/2009 ----- 28/11/2012 ------- 50 Btc for block ------- 7200 Btc every day
28/11/2012 ----- 04/07/2016 ------- 25 Btc for block ------- 3600 Btc every day
04/07/2016 ---- 25/05/2020 ------- 12.5 Btc for block ------- 1800 Btc every day
25/05/2020 ---- May 2024 ----- 6.25 Btc for block ------- 900 Btc every day
May 2024 --- May 2028 ---- 3.125 Btc for block ------ 450 Btc every day
May 2028 --- May 2032 ---- 1.5625 Btc for Block ---- 225 Btc every day
(the dates will probably change slightly, but it's right to have a reference)

More information : https://bitcointalksearch.org/topic/bitcoin-after-5-halving-10-years-from-now-what-will-be-its-price-4849889

I myself have learned about what Bitcoin gbling really is, just recently. I was more into campaigns and gambling(sometimes) and was not aware of such things. So since I am one of those who are not familiar to it fully, I think it should not be a surprise to know that many other people are also not yet aware of this anticipated occurence in this industry.

Quote from: mauriek on February 13, 2020, 05:18:14 AM

Quote from: beerlover on February 13, 2020, 02:38:09 AM

Quote from: resty on February 10, 2020, 11:34:21 AM

Just found this on facebook. Maybe we can get something from this. What are your thoughts?
Does the future of bitcoin be affected? Is this good or bad? Should we still invest in Bitcoin?

Lol I don’t see why you should be asking whether this is good or bad when you know already that it has happened twice in Bitcoin space. If it was bad then most of us would have dropped after the first or second one. It’s not bad, it’s been happening, so there’s nothing bad about it. After the last two halving we saw the price of Bitcoin started going up and those investors who were able to have patience for long benefited from it since they started making lots of profit as the price kept going up. I strongly believe that this one wouldn’t be anything different but same as the other ones and the patience we have had for long would definitely pay off.

Maybe this time he was hesitant to invest before Halving whereas we have learned about Halving before where the price of Bitcoin increased dramatically after that. So I suggest to the OP if you have unemployed funds then you should buy some BTC now. After Halving you will become a rich man. Grin

Is it really assured that the market value will be that high? I mean, there is a tendency and it does sound to be more likely occuring upon the halving but can we count on it with certainty. The market value of Bitcoin is not something that could be predicted with assurance no matter what happen right? So i think it is quite questionable. I know it happened before but are we sure that same result would happen? That is my concern.

vintages

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Saw it also on Facebook, it has really circulated.
I guess the infographic information was to answer a lot of questions many people are asking regarding Bitcoin. it's well stipulated.
With the information so far, I think any one who wants to invest in Bitcoin should still do so. I am more concerned about the year 2140 on how true that is. By then, there would have been a major changes in Bitcoin.

wxxyrqa

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At the very least, you should not be afraid of another halving, since the history of the cryptocurrency market shows that in 2013 and 2016, by halving the rewards to Bitcoin miners, the user received a significant increase in the price of Bitcoin. Therefore, I expect only a positive change in the situation on the cryptocurrency market due to this event, which is probably already starting to happen today, as we already see significant signs of a bullish run. But the significance of this process confuses me a bit, because everywhere halving is referred to as the process of combating bitcoin inflation. But How can inflation be carried out if bitcoins have a certain number of coins? Maybe I haven’t studied everything yet, but for me this question remains a dilemma.

mauriek

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Quote from: beerlover on February 13, 2020, 02:38:09 AM

Quote from: resty on February 10, 2020, 11:34:21 AM

Just found this on facebook. Maybe we can get something from this. What are your thoughts?
Does the future of bitcoin be affected? Is this good or bad? Should we still invest in Bitcoin?

Lol I don’t see why you should be asking whether this is good or bad when you know already that it has happened twice in Bitcoin space. If it was bad then most of us would have dropped after the first or second one. It’s not bad, it’s been happening, so there’s nothing bad about it. After the last two halving we saw the price of Bitcoin started going up and those investors who were able to have patience for long benefited from it since they started making lots of profit as the price kept going up. I strongly believe that this one wouldn’t be anything different but same as the other ones and the patience we have had for long would definitely pay off.

Maybe this time he was hesitant to invest before Halving whereas we have learned about Halving before where the price of Bitcoin increased dramatically after that. So I suggest to the OP if you have unemployed funds then you should buy some BTC now. After Halving you will become a rich man. Grin

sunsilk

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Quote from: GreatArkansas on February 12, 2020, 08:42:42 PM

Quote from: sunsilk on February 12, 2020, 05:34:05 PM

~snip~

Exactly, bitcoin mining farms are just not ordinary and not a joke, they are into business. For sure, before they started to build huge farms for Bitcoin mining, they already have a plan for the long term operation.
They know how to manage their business and speaking for long term, they are literally beast!

Yes, they have a gameplan before proceeding to the mining business. And they have all the means to upgrade if it's needed or to stop the operation totally if they want to and can't cover the cost of operation anymore.

I'm into mining and they are more knowledgeable on this, so let them take care of themselves because they know more than us about it.

beerlover

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Quote from: resty on February 10, 2020, 11:34:21 AM

Just found this on facebook. Maybe we can get something from this. What are your thoughts?
Does the future of bitcoin be affected? Is this good or bad? Should we still invest in Bitcoin?

Lol I don’t see why you should be asking whether this is good or bad when you know already that it has happened twice in Bitcoin space. If it was bad then most of us would have dropped after the first or second one. It’s not bad, it’s been happening, so there’s nothing bad about it. After the last two halving we saw the price of Bitcoin started going up and those investors who were able to have patience for long benefited from it since they started making lots of profit as the price kept going up. I strongly believe that this one wouldn’t be anything different but same as the other ones and the patience we have had for long would definitely pay off.

GreatArkansas

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Quote from: sunsilk on February 12, 2020, 05:34:05 PM

Quote from: Oasisman on February 11, 2020, 06:43:56 PM

Quote from: sunsilk on February 10, 2020, 06:52:07 PM

(..)

(...)

They can even maintain a long term operation so I guess they are all prepared if something like that happens suddenly. Most of them are wise and probably see this happening in the future.
There must be sort of savings dedicated for future upgrades.

Exactly, bitcoin mining farms are just not ordinary and not a joke, they are into business. For sure, before they started to build huge farms for Bitcoin mining, they already have a plan for the long term operation.
They know how to manage their business and speaking for long term, they are literally beast!

Speaking if Bitcoin Block Halving, I can also share this website to track the upcoming Bitcoin Block Halving information, it's a countdown for next Bitcoin Block Halving and also has some information about Bitcoin and the upcoming Bitcoin Block Halving.

Website: https://www.bitcoinblockhalf.com/

cr1776

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"a blockchain is added to a bitcoin blockchain" and other errors.

Lol. My thoughts are that this graphic is laughable.

It is almost as if someone who didn't know what they were talking about put it together.

sunsilk

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Quote from: Oasisman on February 11, 2020, 06:43:56 PM

Quote from: sunsilk on February 10, 2020, 06:52:07 PM

The mining farms that have invested a large capital won't let their farms to shut down because of that. They will keep themselves on the trend unless they can't keep and take the expenses anymore.

Agree, these big mining farms would be the last to stand until the last Bitcoin is mined. This expense is just a one time upgrade in 4 years anyway, and I guess they could easily handle that, but then again the total amount of expenses is a pain in the a** lol Cheesy

They can even maintain a long term operation so I guess they are all prepared if something like that happens suddenly. Most of them are wise and probably see this happening in the future.

There must be sort of savings dedicated for future upgrades.

Oasisman

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Quote from: sunsilk on February 10, 2020, 06:52:07 PM

Quote from: Oasisman on February 10, 2020, 06:19:08 PM

Quote from: sunsilk on February 10, 2020, 05:29:21 PM

It's for the good of bitcoin and rewards of miners will be cut into half. This will make the demand even higher so if you're worrying about it, the past halving did result in good price of bitcoin. Wink

But I guess it's not really that good for the miners because blocking halving means not just the rewards will be cut into half again, but also means upgrading their hardware. Imagine the expense if you have a mining farm.

The mining farms that have invested a large capital won't let their farms to shut down because of that. They will keep themselves on the trend unless they can't keep and take the expenses anymore.

Agree, these big mining farms would be the last to stand until the last Bitcoin is mined. This expense is just a one time upgrade in 4 years anyway, and I guess they could easily handle that, but then again the total amount of expenses is a pain in the a** lol Cheesy

Artemis3

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CLEAN non GPL infringing code made in Rust lang

Quote from: TheUltraElite on February 11, 2020, 02:48:58 AM

Quote from: ?? on ??

I am looking best answer could explain what is bitcoin halving, what feature of bitcoin halving and why many investor waiting for with bitcoin halving time, what happen usually when halving time of bitcoin, will touch on higher price or bitcoin increase with limited supply volume transaction on the exchange or market.

I hope you do not read the OP's post, because that is just to gain attention but does not explain the thing properly.

The miners get rewarded for the blocks they mine called the block subsidy. Every few years the block subsidy is "halved" and this is known as halving.

The idea behind this is that with every halving the amount that is dumped over by the miners on the open market is reduced thereby reducing the chances that they can generate huge dumps keeping the economy of bitcoin stable when compared to the demand or buying pressure.

Now everyone looks forward to the halving as a bullish event. Personally I have seen too much speculation about this and it can be both a bullish or a bearish event.

Main point is that if you are looking to sell, do so and the buy back at lower price. Forget about the halving but be cautious to not trade in the few weeks before and after the halving.

Its not a subsidy its a reward for taking the effort of solving the puzzle. This reward becomes half after each halving.

This is of course more important for miners than traders, this design gradually reduces their activity rather than suddenly, its been working fine. We are now at the last remainder, that remaining 14% of coins left to be minted, most of which will be produced the following years while there is still some profit to be made mining.

A price increase could delay this, but don't count on it to compensate for the halving, and if it does at some point, don't expect it to last long. Looking at the whole picture (ie. zoom out) mining has simply became more and more expensive, less profitable overtime at the same time most coins have already been produced following the programming schedule (which is in Bitcoin's code).

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: ?? on ??

I am looking best answer could explain what is bitcoin halving, what feature of bitcoin halving and why many investor waiting for with bitcoin halving time, what happen usually when halving time of bitcoin, will touch on higher price or bitcoin increase with limited supply volume transaction on the exchange or market.

I hope you do not read the OP's post, because that is just to gain attention but does not explain the thing properly.

The miners get rewarded for the blocks they mine called the block subsidy. Every few years the block subsidy is "halved" and this is known as halving.

The idea behind this is that with every halving the amount that is dumped over by the miners on the open market is reduced thereby reducing the chances that they can generate huge dumps keeping the economy of bitcoin stable when compared to the demand or buying pressure.

Now everyone looks forward to the halving as a bullish event. Personally I have seen too much speculation about this and it can be both a bullish or a bearish event.

Main point is that if you are looking to sell, do so and the buy back at lower price. Forget about the halving but be cautious to not trade in the few weeks before and after the halving.

sunsilk

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Quote from: Oasisman on February 10, 2020, 06:19:08 PM

Quote from: sunsilk on February 10, 2020, 05:29:21 PM

It's for the good of bitcoin and rewards of miners will be cut into half. This will make the demand even higher so if you're worrying about it, the past halving did result in good price of bitcoin. Wink

But I guess it's not really that good for the miners because blocking halving means not just the rewards will be cut into half again, but also means upgrading their hardware. Imagine the expense if you have a mining farm.

Well, it's true and that worries the others but those dedicated miners will continue to help the network in return of the rewards even though the difficulty keeps increasing.

The mining farms that have invested a large capital won't let their farms to shut down because of that. They will keep themselves on the trend unless they can't keep and take the expenses anymore.

Oasisman

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Quote from: odolvlobo on February 10, 2020, 02:57:13 PM

Quote from: Jawhead999 on February 10, 2020, 12:03:33 PM

It's totaly a GOOD NEWS for bitcoin, because when bitcoin block is halving, the price of bitcoin will raise up. You should buy or hold bitcoin before bitcoin halving.

That's just wishful thinking based on a misconception. There is no correlation between price and the two halvings.

That's what most of people were thinking. When we talk about the Bitcoin block halving, its almost automatic for them to think that it correlates the prices in the market.
When infact, its only the trend that makes a positive impact during and after the halving.

Quote from: sunsilk on February 10, 2020, 05:29:21 PM

It's for the good of bitcoin and rewards of miners will be cut into half. This will make the demand even higher so if you're worrying about it, the past halving did result in good price of bitcoin. Wink

But I guess it's not really that good for the miners because blocking halving means not just the rewards will be cut into half again, but also means upgrading their hardware. Imagine the expense if you have a mining farm.

sunsilk

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That Crypto Crunch App page is bullish on bitcoin so very much it's a positive post and if you still don't what halving is, read and understand those given details, threads, and articles to you.

It's for the good of bitcoin and rewards of miners will be cut into half. This will make the demand even higher so if you're worrying about it, the past halving did result in good price of bitcoin. Wink

odolvlobo

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Quote from: resty on February 10, 2020, 11:34:21 AM

Just found this on facebook. Maybe we can get something from this. What's your thoughts?

The grammar is poor.

Quote from: Jawhead999 on February 10, 2020, 12:03:33 PM

It's totaly a GOOD NEWS for bitcoin, because when bitcoin block is halving, the price of bitcoin will raise up. You should buy or hold bitcoin before bitcoin halving.

That's just wishful thinking based on a misconception. There is no correlation between price and the two halvings.

Quote from: avikz on February 10, 2020, 01:05:31 PM

The theory is based on scarcity factor of demand supply chain! Halving means, the creation of bitcoin will be reduced by 50% at certain intervals. So you can understand what will happen when the demand stays strong but the supply is decreased.

Sorry, that is a misconception. The supply is never decreased. It is continually increased until it reaches 21 million.

Quote from: TheNewAnon135246 on February 10, 2020, 01:57:45 PM

Plan B wrote a great article explaining the Stock-to-Flow ratio for Bitcoin and how the Halving affects it: https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25

The flaw in the logic of that article is in the interpretation of the price vs. stock-to-flow chart.

Stock-to-flow follows a schedule, so it is based on time. So, the chart is really just price vs. time, which is just the standard price graph. In other words, the correlation viewed in the price vs. stock-to-flow chart really has nothing to do with stock-to-flow. It just shows a relatively steady logarithmic increase in price over time.

TheNewAnon135246

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฿uy ฿itcoin

Plan B wrote a great article explaining the Stock-to-Flow ratio for Bitcoin and how the Halving affects it: https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25

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