The Halving - Good or Bad for Bitcoin? - page 63.

Mickeyb

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Move On !!!!!!

Quote from: Amph on November 14, 2015, 02:45:06 AM

Quote from: ?? on ??

Quote from: FrostStick on November 13, 2015, 07:57:33 PM

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Quote from: FrostStick on November 13, 2015, 06:38:58 PM

I'm sure it's good as theoretically the price should double after the halving.

That is a common misconception. There is no reason why the price should double as a result of the halving.
The "supply" is not halved. The production is halved and there is a fundamental economic difference between the two.

Well the miner's costs will rise significantly and if the price does not rise then there will be no less incentive for the miners to keep mining.

FTFY

well it depend because at some point if the price will not increase there will be zero incentive for them to mine, unless they have free electrcity, but even then if the price is very low, they can not add other equipments and the network will not grow and can be vulnerable

and i doubt every single miners out there will have free electricity in the best scenario, so many will simply leave the game

I am sure that the price will rise to the point that about 75% miners will be happy. Other 25% we might lose, but this won't be a big deal since we have too much of the hash power anyways at the moment. Even if we lose some, we will be fine!

1Referee

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From my point of view it does matter in a good way as we currently have a period of a few years with more supply than demand. The halving will make sure the difference between supply and demand will be at least leveled and even result in more demand. If the price shows a 100% increase which we have already seen, but it didn't last unfortunately, the miners will also be happy.

Amph

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Quote from: ?? on ??

Quote from: FrostStick on November 13, 2015, 07:57:33 PM

Quote from: ?? on ??

Quote from: FrostStick on November 13, 2015, 06:38:58 PM

I'm sure it's good as theoretically the price should double after the halving.

That is a common misconception. There is no reason why the price should double as a result of the halving.
The "supply" is not halved. The production is halved and there is a fundamental economic difference between the two.

Well the miner's costs will rise significantly and if the price does not rise then there will be no less incentive for the miners to keep mining.

FTFY

well it depend because at some point if the price will not increase there will be zero incentive for them to mine, unless they have free electrcity, but even then if the price is very low, they can not add other equipments and the network will not grow and can be vulnerable

and i doubt every single miners out there will have free electricity in the best scenario, so many will simply leave the game

bitart

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Quote from: ~Bitcoin~ on November 14, 2015, 12:45:52 AM

I think if more merchants than now start to accept bitcoin till july then it will be good for bitcon price.

What do we have that we can persuade the merchants with to start accepting bitcoin? If they have a working internet connection, and a PC or tablet or even a single mobile phone, what else do they need (hardware/software)?
Is it possible to quicken the transaction (higher fees) or they need to sit down the customer for a cup of coffee to wait for the verification?

photon_coin

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good or bad, matters not, we need to live with the code 'Satoshi' has left us, not a good idea to change it

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I think if more merchants than now start to accept bitcoin till july then it will be good for bitcon price.

FrostStick

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Quote from: ?? on ??

Quote from: FrostStick on November 13, 2015, 07:57:33 PM

Quote from: ?? on ??

Quote from: FrostStick on November 13, 2015, 06:38:58 PM

I'm sure it's good as theoretically the price should double after the halving.

That is a common misconception. There is no reason why the price should double as a result of the halving.
The "supply" is not halved. The production is halved and there is a fundamental economic difference between the two.

Well the miner's costs will rise significantly and if the price does not rise then there will be no less incentive for the miners to keep mining.

FTFY

Thanks.

ivanst776

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The halving i think that will be good for the bitcoin community, and will be even better for early investors, by the next July i expect the price to be increased.

Possum577

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Quote from: FrostStick on November 13, 2015, 07:57:33 PM

Quote from: ?? on ??

Quote from: FrostStick on November 13, 2015, 06:38:58 PM

I'm sure it's good as theoretically the price should double after the halving.

That is a common misconception. There is no reason why the price should double as a result of the halving.

The "supply" is not halved. The production is halved and there is a fundamental economic difference between the two.

Well the miner's costs will rise significantly and if the price does not rise then there will be no incentive for the miners to keep mining.

Agreed, it's very possible that we'll never get to all of bitcoin being mined...just like we'll never mine all the gold in the ground, at some point it just won't be worth it or profitable. And of course there will never be a full 21 million coins because a few were earmarked as "test" coins or "throwaway" coins, it'll be something like a few thousand or hundred thousand less than 21 million.

HarryKPeters

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Bitcoin needs a stable network/nodes (miners).

Miners need rewards/roi.

+

Bitcoin don't needs inflation.

Halving decreases inflation and (so far) brought the price up

=
A very good thing for bitcoin.

FrostStick

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Quote from: ?? on ??

Quote from: FrostStick on November 13, 2015, 06:38:58 PM

I'm sure it's good as theoretically the price should double after the halving.

That is a common misconception. There is no reason why the price should double as a result of the halving.

The "supply" is not halved. The production is halved and there is a fundamental economic difference between the two.

Well the miner's costs will rise significantly and if the price does not rise then there will be no incentive for the miners to keep mining.

Pab

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That we will know after halving.For sure it can be hard for miners,so many off them will go out of business
You will hear many stupid post that it will skyrocket btc price.I hope will be not blockchain disturbing

Possum577

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Quote from: dothebeats on October 24, 2015, 11:40:50 PM

Quote from: 7788bitcoin on October 24, 2015, 04:55:13 PM

Reward halving is part of bitcoin protocol, which was designed to help maintaining a balance. If it is bad, then bitcoin is bad...

I agree on this one. Deflation is better than inflation in a lot of ways. The halving would certainly be good for all if demand increase.

When it comes to the fiat value of Bitcoin, we very much want inflation. We want the price to inflate as high as it can.

When people talk about inflation and deflation they talk about prices of goods and services, not the cost of the currency. (Economists, am I wrong?)

Possum577

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Quote from: CoinSkipper on October 24, 2015, 04:28:57 PM

The halving will decrease the supply of bitcoin, whole keeping the demand, so that would make bitcoin worth more.

But the halving will make mining profitability worse, meaning less miners, a higher trans. fee, and maybe causing a smaller demand.

What's your verdict?

I think bitcoin will still go up, as the fees might, let's say, double, but that's still a smaller transaction fee than through the banks...

Halving doesn't decrease supply. Halving decreases the growth of supply. And this is generally a good thing for Bitcoin. If demand remains the same it makes bitcoin more scarce, increasing price. If demand drops it still controls/slows growth of supply, helping support bitcoin price.

Mining profitability will always be on a consolidation crash course. Fewer and fewer firms will have the size and volume to make profits as bitcoin becomes harder and harder to mine. I don't think fees will increase that much...if they do, people will stop transacting and just hold. It'll turn bitcoin into an asset class, which isn't bad either.

FrostStick

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I'm sure it's good as theoretically the price should double after the halving.

Pierre 2

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It is really great thing. Supply to markets will get lower, that means if current demand stays price will significantly rise.
It will be good, healthy rise.

Amph

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Quote from: makcik on November 12, 2015, 11:43:41 AM

According to me, bitcoins halving won't be good. Here are the reasons I thik why.
(1) Bitcoins' users are increasing, so we need more supply, but halving will reduce it.. Which isn't good.
(2) Transaction fees still hurts people. What will happen if it increased? People will start protesting!
(3) less mining profitability-- Mining is heart and soul of bitcoins. If miners will get decreased. People's interest will decrease, which is unacceptable.

the whole point of the halving is to force the price to increase gradually, giving the right time for the adoption to increase also gradually

it also force the miners to be more efficient and consume less energy, big farm in the end will be decentralized because there is a limit of electrcity per zone

zodiac3011

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Quote from: makcik on November 12, 2015, 11:43:41 AM

According to me, bitcoins halving won't be good. Here are the reasons I thik why.
(1) Bitcoins' users are increasing, so we need more supply, but halving will reduce it.. Which isn't good.
(2) Transaction fees still hurts people. What will happen if it increased? People will start protesting!
(3) less mining profitability-- Mining is heart and soul of bitcoins. If miners will get decreased. People's interest will decrease, which is unacceptable.

less supply higher demand means higher price which will attract miners in my opinion. transaction fees at the moment is about 5 cents and that's relly small so let's the fee got up double I still find it pretty reasonable

makcik

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According to me, bitcoins halving won't be good. Here are the reasons I thik why.
(1) Bitcoins' users are increasing, so we need more supply, but halving will reduce it.. Which isn't good.
(2) Transaction fees still hurts people. What will happen if it increased? People will start protesting!
(3) less mining profitability-- Mining is heart and soul of bitcoins. If miners will get decreased. People's interest will decrease, which is unacceptable.

zodiac3011

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Quote from: btckold24 on November 12, 2015, 01:09:48 AM

I think for miners it could be bad at first but alot should stop mining making difficulty go down. Also it should make the price go up and that gets excitement going again and people talking. The more publicity btc gets the better for us that are holding some. I know personally I stopped mining long ago because of difficulty so it would be nice if at halving some farms closed down.

I can't think why you say that it could be bad at first for miners? Fewer BTC means higher price which makes it even more profitable to mine (even before the halving, people begin to buy bitcoin to make money from the halving)

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