The Halving - Good or Bad for Bitcoin? - page 66.

RealBitcoin

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Quote from: CoinSkipper on October 24, 2015, 05:28:57 PM

As the title says, is the halving good or bad for the price of bitcoin?

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 profitibilty 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...

No offense but this is a stupid question.

Of course it will be good for bitcoin. Who cares about the miners, if the rate if inflation halves, then it implies that the new bitcoin mined is equal the previously mined old blocks, so it could trigger a price doubling.

And then the miners would earn exactly the same, and investors would have doubled their bags of BTC.

ABCbits

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It will make bitcoin price slightlly more stable because less bitcoin dumped by miners to exchange to cover their electricity & maintenance cost. Also, it'll decrease bitcoin production which means there are less supply than demand & it could rise bitcoin price too.

But, miners would quit mining because it's unprofitable & bitcoin network could be weaker than now

n2004al

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Quote from: CoinSkipper on October 24, 2015, 05:28:57 PM

As the title says, is the halving good or bad for the price of bitcoin?

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 profitibilty 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...

The halving doesn't mean stop of mining. Mean only halving of the new amounts of bitcoin added in the market. So the mining will continue with more or few miners. The new 12.5 bitcoin will be in the market every about 10 minutes. There have not any importance the number of miners which participate in this process. I don't understand why the fees must go high with less miners (but I'm not an expert in this field and maybe have wrong). Less miners will earn their part in the production of new bitcoins. Less miners mean maybe more earnings than before halving seen that are less miners than before. That's all.

As for the demand, this have nothing to do with the miners. They are not at all part of the demand. They don't buy bitcoins. Because earn it through the mining. The maximum of their activity in the report supply/demand is the sell of their bitcoins earned. So, on the contrary, are part of supply. The demand is who buy. And for sure are not the miners why buy bitcoin. I don't see any reason why the number of why buy will be reduced. Maybe increased make sense but decreased .... Why?

Ibian

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It's an inherent part of the protocol. It doesn't matter what anyone thinks about it.

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Quote from: 7788bitcoin on October 24, 2015, 05:55:13 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.

zodiac3011

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In my opinion, the halving actually has good effect to the bitcoin market and many other aspect because it controls the amount of bitcoins mined everyday so bitcoin becomes rarer which will pump the price up as there will be more demand for it, attract miners to point hashes to it since the price is high. I think there's really nothing to worry about the halving at all

Mickeyb

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It will be very good in my opinion if price raises at least a bit. If price would come back and stay at the $220 level, comes the halving there would be very interesting things happening in mining, hashrate, difficulty, etc.

But as we can see price creeping up and almost getting to $285 at the moment, halving seems great for Bitcoin since I think this run might be easily connected with the upcoming halving. We'll see!

smiletyson

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It's very good actually. You should check the Controlled supply artivle on bitcoin wiki: https://en.bitcoin.it/wiki/Controlled_supply
There's no FED to decide to print new banknotes to control over the money. This is freedom.

7788bitcoin

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

gentlemand

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My own particular jury is out. There's a lot more on the line this time around and a lot more divisions and vested interests. It may give it the nudge over the precipice it needs, or add more pressure when there's already plenty to go around.

CoinSkipper

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As the title says, is the halving good or bad for the price of bitcoin?

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 profitibilty 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...

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