Topic: Block Halving in 2016 - Boon or Bane for BTC price ?? (Read 2361 times)
Some trustworthy highly reputed cloudmining sites have either turn off mining or offer a very low profitability now, so it seems to me that price does have to go up in order for some mining business to continue. It seems that some BTC money has gone to ethereum too.
as long as bitcoin price don't go below $350-$400 i think miners will be ok with the reward+fees and all the merge mining reward they are getting.
and we should never forget that mining pools and farms are big whales that can easily control the market with the amount they own.
and we should never forget that mining pools and farms are big whales that can easily control the market with the amount they own.
I think miners need 500-600 per bitcoin to continue their mining as it will take long before you can mine bitcoin and the cost will surely be a lot.
as long as bitcoin price don't go below $350-$400 i think miners will be ok with the reward+fees and all the merge mining reward they are getting.
and we should never forget that mining pools and farms are big whales that can easily control the market with the amount they own.
and we should never forget that mining pools and farms are big whales that can easily control the market with the amount they own.
Well, we all know that the last block halving was in mid-2012 which turned down a block reward of 50 BTC to 25 BTC. Now, in mid-2016, we expect a block halving thus halving down it further to 12.5 BTC. But, this leads me to arise two questions to the expert community out there.
1) Basic economics says, with increase in demand and decrease in supply, price increases. Whereas, with decrease in demand and increase in supply, price decreases. So, for the last 3-4 months, the price of BTC has been around 230$-270$ per BTC. The price has actually rather decreased due to panic selling of BTC by miners and many other attacks on the exchanges out there. But, if in 2016, we assume the demand remains the same and the supply decreases (due to block halving to 12.5 BTC per block), then will the price of BTC increase ?
2) Will the price of BTC instead decrease because with low price and decreased block reward, the miners will sell more BTC instead to cover the mining cost ?
Any answers will be greatly appreciated.
1) Basic economics says, with increase in demand and decrease in supply, price increases. Whereas, with decrease in demand and increase in supply, price decreases. So, for the last 3-4 months, the price of BTC has been around 230$-270$ per BTC. The price has actually rather decreased due to panic selling of BTC by miners and many other attacks on the exchanges out there. But, if in 2016, we assume the demand remains the same and the supply decreases (due to block halving to 12.5 BTC per block), then will the price of BTC increase ?
2) Will the price of BTC instead decrease because with low price and decreased block reward, the miners will sell more BTC instead to cover the mining cost ?
Any answers will be greatly appreciated.
it's few months left till halving and i think that it will rise for sure, it even rises right now, everyone is afraid what will happen in future, everyone buys coins for halving so after it price should rise,
and price won't decrease, just miners will sell coins for larger price because of halving
"Sigh" to the comments in this thread. Simple supply demand economics.
If demand on exchanges stays the same, price will go up.
If demand on exchanges goes up, price will go up more.
The only way price goes stays the same is if demand on exchanges also halves. The only way it goes down is if demand on exchanges more than halves.
If demand on exchanges stays the same, price will go up.
If demand on exchanges goes up, price will go up more.
The only way price goes stays the same is if demand on exchanges also halves. The only way it goes down is if demand on exchanges more than halves.
My prediction: Nothing will happen.
so nothing will happen.. after it halves..
I dont know man, isnt that a bit naive though? cause the reward amounts are getting less which means less btc available.
what if the price goes down to $150 and we stay there for a while. then block halving kicks in and makes the price go up to $250 which is just a bit higher than current price. which means there is barely a gain if you buy now and hold till after the halving.
just like anything, theres always going to be a supply and demand.
but when the supply becomes limited, the demand will pay for whatever is worth. Its why people buy $800 iphones when they 1st come out, when it only costed them $200.
but when the supply becomes limited, the demand will pay for whatever is worth. Its why people buy $800 iphones when they 1st come out, when it only costed them $200.
the downward pressure be halved, but the amount of user growth remains the same. The price would surely go up slowly over time.
The bitcoin reward is pre-programmed to halve every 210,000 blocks. Folks can see approximately how long this will take by going to bitcoinclock.com
The bitcoin reward is pre-programmed to halve every 210,000 blocks. Folks can see approximately how long this will take by going to bitcoinclock.com
it will go up than down,technology development is much more importent,i see bitcoin like a technology start up not a currency or digital gold,etc,blockchain is fundamental
the real boom will arrive long before the halving, it could arrive for example around march 1 2016, when the XT client with its new TX limit will be launched
that could be a good launch pad, for skyrocketing with the halving
it is very unlikely that the price will remain as it is right now until the halving
that could be a good launch pad, for skyrocketing with the halving
it is very unlikely that the price will remain as it is right now until the halving
Can you please elaborate about the text that I bolded out. Don't know and never heard of that, so interested to know about it.
it's a new upgrade done by Gavin, it is needed to rise the transaction limit per second, which is nearly fully saturated now, and it needs to be raised before the halving, so we can accomodate bigger merchants that require many more TX per second
it's not only done by gavin as i am sure gavin and other devs will meet in the middle. only sad thing is that the other devs don't support something so important.
the real boom will arrive long before the halving, it could arrive for example around march 1 2016, when the XT client with its new TX limit will be launched
that could be a good launch pad, for skyrocketing with the halving
it is very unlikely that the price will remain as it is right now until the halving
that could be a good launch pad, for skyrocketing with the halving
it is very unlikely that the price will remain as it is right now until the halving
Can you please elaborate about the text that I bolded out. Don't know and never heard of that, so interested to know about it.
it's a new upgrade done by Gavin, it is needed to rise the transaction limit per second, which is nearly fully saturated now, and it needs to be raised before the halving, so we can accomodate bigger merchants that require many more TX per second
the real boom will arrive long before the halving, it could arrive for example around march 1 2016, when the XT client with its new TX limit will be launched
that could be a good launch pad, for skyrocketing with the halving
it is very unlikely that the price will remain as it is right now until the halving
that could be a good launch pad, for skyrocketing with the halving
it is very unlikely that the price will remain as it is right now until the halving
Can you please elaborate about the text that I bolded out. Don't know and never heard of that, so interested to know about it.
It will jump for sure! But in which direction it's unsure...
For all you know it can be down to $100 and then jump back to $20 increase or something.
The best is to just buy it when its falling in small amounts.
It might not have any effect, the price might stay at $224 from now until way past the halving.
The price might become more stable than most fiat currencies, which would make Bitcoin the most boring currency in the world.
The price might become more stable than most fiat currencies, which would make Bitcoin the most boring currency in the world.
the real boom will arrive long before the halving, it could arrive for example around march 1 2016, when the XT client with its new TX limit will be launched
that could be a good launch pad, for skyrocketing with the halving
it is very unlikely that the price will remain as it is right now until the halving
aside from the obvious decrease in block reward to miners and the supply and demand change, the expectation of price rising will cause more people to buy and wait for the boom.
so as the result of this expectation demand will increase which will lead to higher price.
so as the result of this expectation demand will increase which will lead to higher price.
The boom are manipulated events, like exchanges. Or can come in another form.
So I dont see any boom anytime soon, unless one of the exchanges does something or something else creates a manipulated event.
aside from the obvious decrease in block reward to miners and the supply and demand change, the expectation of price rising will cause more people to buy and wait for the boom.
so as the result of this expectation demand will increase which will lead to higher price.
so as the result of this expectation demand will increase which will lead to higher price.
Well to where its froma 6 year stand point of view.
Its been doing quite well no? I mean its been having a steady climb and fixes itself after events like mt.gox in the overall view. Not the 48hr windows.
Its been doing quite well no? I mean its been having a steady climb and fixes itself after events like mt.gox in the overall view. Not the 48hr windows.
It might not have any effect, the price might stay at $224 from now until way past the halving.
The price might become more stable than most fiat currencies, which would make Bitcoin the most boring currency in the world.
The price might become more stable than most fiat currencies, which would make Bitcoin the most boring currency in the world.
TO THA MOON!!!!
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