The Halving - Good or Bad for Bitcoin? - page 24.

deisik

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Quote from: TemplarKnightUK on June 17, 2016, 03:31:52 PM

Quote from: deisik on June 17, 2016, 03:09:52 PM

Quote from: manselr on June 17, 2016, 11:51:53 AM

Quote from: JeanMcCoy on June 17, 2016, 10:32:37 AM

Its kind hard to know what is really going to happen in the future with Bitcoin and that is because the value of Bitcoin is always changing so that is really bad of course because you dont even know what will happen later in the future.
But there will be a chance that is can disappear because the value will go down or something.

Bitcoin is decentralized and the market is a true market. True free markets without intervention will be prone to ups and down, but the overall trend has always been UP. Everytime bitcoin crashed, it set a new floor.

Neither is true. Bitcoin has long ceased to be decentralized, and I don't really see why severe market manipulation cannot be called intervention of sorts. At lest, interventions usually aim to stabilize the markets (i.e. make less volatile), not to shake them either to boost the price up or crash it down. If you question the latter (i.e. market manipulation), you should first refute the former (i.e. Bitcoin centralization)...

Since manipulation directly follows from centralization

Bitcoin is not decentralised in the sense that ownership of coins is very unequal (someone should measure a Lorentz curve coefficient, actually), but I believe it very much is in terms of hashpower (as a cursory look at the block signature estimates of Blockchain.info would reveal), so it is important to get our terms right; perhaps the poster referred to the mining power. Even if it is the ownership and it is rather centralised, that does not mean that market manipulators have full control. It is limited by those that hold their coins untouched in places due to legitimate economic activity, or have simply forgotten about them (c.f. Satoshi himself, for one)

No, I didn't mean wealth inequality. I assumed myself that the poster referred to the mining power as a representation of Bitcoin decentralization, while in fact it is severely centralized. I'm also looking at the hashrate distribution estimates given at Blockchain.info, the screenshot of which I just made and insert below

By any means, I can't call Bitcoin mining power decentralized. Now we have 7 major players which swallow up about 90% of all hashing power out there. What is it if not an example of extreme centralization? If we consider Bitcoin as a global currency, then all major fiat currencies taken as one will be more decentralized than Bitcoin

NewInCryptoCurrency

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Quote from: BitFinnese on June 17, 2016, 03:40:49 PM

I think Bitcoin is fine after halving, maybe you wanted to redirect your question to Bitcoin economy, and in my point of view, this halving have both and bad effect to BTC economy, Good effect might be BTC will have a higher price resulting to mass media getting attracted to broadcast about BTC, Free advertisement! And thus, will promote BTC to every corner media can reach. One bad side would be, due to the extreme speculation about bitcoin halving, BTC price had been over valued thus will result in decline in price after the halving. Lots of those panick buyer will end up with negative profit in their hand.

My stand is neutral, It is the way it is and we have learn to embrace it. These days it has become a hype and that hype has grown too much.
It can make a lot of people unhappy.

Blackmet

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Nothing changes after halving, some people will get a lot of money from halving but nothing should not happen with bitcoin, so i think that halving is good for bitcoin.

BitFinnese

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I think Bitcoin is fine after halving, maybe you wanted to redirect your question to Bitcoin economy, and in my point of view, this halving have both and bad effect to BTC economy, Good effect might be BTC will have a higher price resulting to mass media getting attracted to broadcast about BTC, Free advertisement! And thus, will promote BTC to every corner media can reach. One bad side would be, due to the extreme speculation about bitcoin halving, BTC price had been over valued thus will result in decline in price after the halving. Lots of those panick buyer will end up with negative profit in their hand.

terman45x

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Quote from: Bestwishes745 on June 17, 2016, 02:35:13 PM

Quote from: JeanMcCoy on June 17, 2016, 10:32:37 AM

Its kind hard to know what is really going to happen in the future with Bitcoin and that is because the value of Bitcoin is always changing so that is really bad of course because you dont even know what will happen later in the future.
But there will be a chance that is can disappear because the value will go down or something.

don't worry about the future just keep faith on bitcoin and you will see a better future for your coins, as now everyone is adopting bitcoin for their transactions and everyone will use it for every aspect in the future and so in that way bitcoin will establish all over the world and we will see a better price of bitcoin and will get a bigger profit in the future.

Yeah and I think bitcoin is still in its initial stage and it will become more bigger in future and we can expect positive news from halving and price will go much higher.

TemplarKnightUK

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Quote from: deisik on June 17, 2016, 03:09:52 PM

Quote from: manselr on June 17, 2016, 11:51:53 AM

Quote from: JeanMcCoy on June 17, 2016, 10:32:37 AM

Its kind hard to know what is really going to happen in the future with Bitcoin and that is because the value of Bitcoin is always changing so that is really bad of course because you dont even know what will happen later in the future.
But there will be a chance that is can disappear because the value will go down or something.

Bitcoin is decentralized and the market is a true market. True free markets without intervention will be prone to ups and down, but the overall trend has always been UP. Everytime bitcoin crashed, it set a new floor.

Neither is true. Bitcoin has long ceased to be decentralized, and I don't really see why severe market manipulation cannot be called intervention of sorts. At lest, interventions usually aim to stabilize the markets (i.e. make less volatile), not to shake them either to boost the price up or crash it down. If you question the latter (i.e. market manipulation), you should first refute the former (i.e. Bitcoin centralization)...

Since manipulation directly follows from centralization

Bitcoin is not decentralised in the sense that ownership of coins is very unequal (someone should measure a Lorentz curve coefficient, actually), but I believe it very much is in terms of hashpower (as a cursory look at the block signature estimates of Blockchain.info would reveal), so it is important to get our terms right; perhaps the poster referred to the mining power. Even if it is the ownership and it is rather centralised, that does not mean that market manipulators have full control. It is limited by those that hold their coins untouched in places due to legitimate economic activity, or have simply forgotten about them (c.f. Satoshi himself, for one).

I refute the premise that market manipulation is conducted for stabilisation purposes. What rational agent (other than a government - though admittedly it is questionable we apply "rational" to such an actor) would take on such risk to stabilise prices for others? None; as with the archetypal example of the London bond market and the Battle of Waterloo (whether or not you believe it) and later examples such as Barclays' shorting, market manipulation is conducted to push the price in a certain direction, fast, and according to the insider position.

deisik

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Quote from: manselr on June 17, 2016, 11:51:53 AM

Quote from: JeanMcCoy on June 17, 2016, 10:32:37 AM

Its kind hard to know what is really going to happen in the future with Bitcoin and that is because the value of Bitcoin is always changing so that is really bad of course because you dont even know what will happen later in the future.
But there will be a chance that is can disappear because the value will go down or something.

Bitcoin is decentralized and the market is a true market. True free markets without intervention will be prone to ups and down, but the overall trend has always been UP. Everytime bitcoin crashed, it set a new floor.

Neither is true. Bitcoin has long ceased to be decentralized, and I don't really see why severe market manipulation cannot be called an intervention of sorts. At least, interventions usually aim to stabilize the markets (i.e. make them less volatile), not to shake them either to boost the price up or crash it down. If you question the latter (i.e. market manipulation), you should first refute the former (i.e. Bitcoin centralization)...

Since manipulation directly follows from centralization

Bestwishes745

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Quote from: JeanMcCoy on June 17, 2016, 10:32:37 AM

Its kind hard to know what is really going to happen in the future with Bitcoin and that is because the value of Bitcoin is always changing so that is really bad of course because you dont even know what will happen later in the future.
But there will be a chance that is can disappear because the value will go down or something.

don't worry about the future just keep faith on bitcoin and you will see a better future for your coins, as now everyone is adopting bitcoin for their transactions and everyone will use it for every aspect in the future and so in that way bitcoin will establish all over the world and we will see a better price of bitcoin and will get a bigger profit in the future.

fkvidar

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Quote from: manselr on June 17, 2016, 11:51:53 AM

Quote from: JeanMcCoy on June 17, 2016, 10:32:37 AM

Its kind hard to know what is really going to happen in the future with Bitcoin and that is because the value of Bitcoin is always changing so that is really bad of course because you dont even know what will happen later in the future.
But there will be a chance that is can disappear because the value will go down or something.

Bitcoin is decentralized and the market is a true market. True free markets without intervention will be prone to ups and down, but the overall trend has always been UP. Everytime bitcoin crashed, it set a new floor.

Yeah if bitcoin has fallen then it has answer its critics in best way by going higher and we can expect same from this halving too, so this halving will bring really good news for us.

manselr

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Quote from: JeanMcCoy on June 17, 2016, 10:32:37 AM

Its kind hard to know what is really going to happen in the future with Bitcoin and that is because the value of Bitcoin is always changing so that is really bad of course because you dont even know what will happen later in the future.
But there will be a chance that is can disappear because the value will go down or something.

Bitcoin is decentralized and the market is a true market. True free markets without intervention will be prone to ups and down, but the overall trend has always been UP. Everytime bitcoin crashed, it set a new floor.

JeanMcCoy

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Its kind hard to know what is really going to happen in the future with Bitcoin and that is because the value of Bitcoin is always changing so that is really bad of course because you dont even know what will happen later in the future.
But there will be a chance that is can disappear because the value will go down or something.

Legasean

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Quote from: lissandra on June 15, 2016, 10:14:24 PM

Quote from: matt4054 on June 15, 2016, 04:00:37 PM

Quote from: goldcoinminer on June 10, 2016, 11:01:11 PM

The number of bitcoins they will be receiving after the halving will be lowered due to difficulty in mining and it would only compensate then to continue mining if the price of bitcoins will increase.

Actually they have managed to control the price before the supply, IMHO Wink

When you refer to "they" are you assuming the whales are doing this? lol.

I`m not talking about the whales like the facebook twins or anyone famous. I`m talking about like old ex mining groups like KNC who have still have a big sum of coins.

Or like antpool, anyone who has a large sum through their services in the btc community.

It should be good and that is because the halving will be more worth and you can also see now that the value of Bitcoin is becoming more worth so that is really nice.
Of course you are not for sure for how long it will rise and that is the problem of Bitcoin.

ronaldo40

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Quote from: co5hike on June 17, 2016, 02:25:18 AM

Quote from: Vaccinus on June 17, 2016, 02:23:52 AM

the halving is good, it force a price increase, this is what we want from bitcoin, without halving no price will increase, because no hype will be generated

Yeah price is moving up only because we are getting closer to halving, so we can expect huge price when we will actually reach there, and this halving will bring good news for all of us.

yes halving effects become apparent, when the closer the prices continue to rise. My prediction if this continues we may reach $1,000 in a short time Shocked

co5hike

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Quote from: Vaccinus on June 17, 2016, 02:23:52 AM

the halving is good, it force a price increase, this is what we want from bitcoin, without halving no price will increase, because no hype will be generated

Yeah price is moving up only because we are getting closer to halving, so we can expect huge price when we will actually reach there, and this halving will bring good news for all of us.

Vaccinus

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the halving is good, it force a price increase, this is what we want from bitcoin, without halving no price will increase, because no hype will be generated

HilbillyFred

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You would really have to see about where the price goes, if the hype train follows - and lots of people start delving into Bitcoin around the halving date, then it may increase.
But I don't think it will double ,it'll make ROI take much longer to achieve if they buy miners

MTBTT

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Quote from: DarkThrones on June 15, 2016, 10:18:28 PM

Very good for Bitcoin because what the halving means is that the sell pressure from miners will forever be cut in half. As we all know traders like to sell for more so overall it will be positive after the dust settles.

yeah i think halving also gives a nice effect for bitcoin. you can see the state of the current bitcoin. prices continue to rise and demand continues to grow. I think this is the effect of halving although not yet come

Jmild1

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Quote from: DarkThrones on June 15, 2016, 10:18:28 PM

Very good for Bitcoin because what the halving means is that the sell pressure from miners will forever be cut in half. As we all know traders like to sell for more so overall it will be positive after the dust settles.

Halving means the block they use to mine will be half making the quantity of bitcoin harder to earn and by that it will also make the value of it go higher. Because big demand with low supply will result to price pump.

WEBcreator

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Quote from: serjent05 on June 16, 2016, 12:54:33 PM

I think the halving is good for Bitcoin economy. Rarity means more demand than supply which in the end may increase the item's value.

Halving does not really makes bitcoin rarer because the total amount of bitcoin is 21 millions and nobody can change that. Halving only reduce the amount of bitcoin each block therefore the supply to the miners will be lowered for the next 4 years and that does not male it rarer by any chance

boyptc

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Quote from: ning_chang on June 16, 2016, 06:59:59 AM

According to the title 'The Halving - Good or Bad for Bitcoin?' For me its good, we are experiencing bitcoin halving today, In april the price of bitcoin is 403$ but now bitcoin is hitting 724$ . It is almost 3/4 of the April bitcoins price

It will not just going to be $724 look at the price now it is already $760+ and for sure it will going to be $800. Or not the good effect of it.
Is going to reach the price of it to $1,000. And if that happens for sure many will going to sell their bitcoins now , so just like law of supply and demand. When there are many supply price is going down.

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