Topic: Halving Bitcoin Reward Unlikely to Cause Price Surge - page 6. (Read 3466 times)
I think whatever price rise is due will happen over the next couple of months. The actual halving will be a damp squib for price.
The fact that the miners are paid less while you need more is what make them sell their bitcoins at an higher price and thus lead to a price rise.
That's not how it works. Sellers (including miners) are free to ask for higher prices, but if buyers won't pay those prices (typically because others ask for less), then prices don't rise.
The fact that the miners are paid less while you need more is what make them sell their bitcoins at an higher price and thus lead to a price rise.
At the very least, as compensation from mining decreases, a minimum network transaction fee should be imposed and it should increase proportionally to difficulty to ensure that all miners receive a predictable and steady flow of bitcoins for the resources they provide.
Each miner is free to decide on their own minimum acceptable fee and reject those transactions that don't meet the minimum. No enforcement of a uniform minimum is necessary.
Will bitcoins ever sell for $1,000 USD or more again? Possibly, but it's not likely to happen as a reaction to halving. The supply of bitcoins in circulation is not changing, and if miners jump ship that is a strike against bitcoins not something that would warrant a price increase.
The only thing that halving the reward to btc miners will do is make mining half as appealing. In fact, if you think about it, it's not a very good system because the more people using bitcoin, the more you need miners...but the miners get paid less and less as time progresses.
At the very least, as compensation from mining decreases, a minimum network transaction fee should be imposed and it should increase proportionally to difficulty to ensure that all miners receive a predictable and steady flow of bitcoins for the resources they provide.
The only thing that halving the reward to btc miners will do is make mining half as appealing. In fact, if you think about it, it's not a very good system because the more people using bitcoin, the more you need miners...but the miners get paid less and less as time progresses.
At the very least, as compensation from mining decreases, a minimum network transaction fee should be imposed and it should increase proportionally to difficulty to ensure that all miners receive a predictable and steady flow of bitcoins for the resources they provide.
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