We are giving too much attention on the halving

joinfree

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Quote from: tsaroz on January 13, 2020, 09:07:40 AM

This halving is surely more looked over than the last one. 2016 halving created the largest ATH ever in bitcoin price. The last one in 2012 was also followed by rapid growth. It's too unique event to ignore, at least for me.

hahahaha...bitcion halving is surely a historical event that occurs every four years and i don't think anybody can ignore that but i think the reason why this year's halving is being talked about almost everywhere is the growth of bitcoin since its development. over decade we have seen so many negativities being said about bitcoin yet it kept growing and more countries have started permitting it use. Combining the factors of increased adoption together with bitcoin halving this year is really going to be a great one in this industry.

msarro

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Quote from: Bitcoin_bullish on January 13, 2020, 07:02:04 AM

I dream for the day when every merchant, online or physical store, will have the price of Bitcoin tagged next to fiat price and I think it will become reality soon.

Thats the dream of every bitcoin enthusiastic and hopes are it will be a reality very soon.

Right now there are few serious issues with bitcoin that need to be addresses in order to make above dream a reality, first and foremost is price volatility. Today in the morning price was 8100$ while in evening its 8500$. No merchant will prefer payment in such volatile currency.

jossiel

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As a bitcoin enthusiasts, I understand the point of view that you have explained. But let's just embrace the current scenario for bitcoin because the technology that it provided for everybody wasn't forgotten or ignored.

It's just most of the people who are into bitcoin is giving more importance to the price rather than the tech. It is not bad and it's not bringing negativity to bitcoin, I think it's okay. If you're telling others bitcoin to be embraced due to the technology, it's good and if others are telling about bitcoin as a speculative asset, it's good and okay too.

Shasha80

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Indeed, we must admit for 2020 that we all pay too much attention to halving bitcoin that will happen in a few months.
Because affected by two halving before it which has succeeded in making bitcoin prices rise. Even though we all know
there is still something else about bitcoin that we can explore, like making bitcoin so that it can be accepted as payment
received by every online or physical store. This is a dream a part of the cryptocurrency community. If that happens, not
only will bitcoin prices go up, but the value of bitcoin can also be more valuable.Because it is increasingly useful for human life.

robelneo

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Quote from: Bitcoin_bullish on January 13, 2020, 07:02:04 AM

I am bullish for the long run and I have no reason to sell, as the way I see it Bitcoin will become massively accepted and widely used across the globe.

I dream for the day when every merchant, online or physical store, will have the price of Bitcoin tagged next to fiat price and I think it will become a reality soon.

I am bullish too on the future of the Bitcoin, and also dreaming that the majority of the online stores will integrate Bitcoin as one of their payment, the only thing missing is not is the lightning network, where the transaction can be processed in an instant with minimal fee, if this happens we can expect Bitcoin being used as one of the payment processors of small and big online stores.

Hypnosis00

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Halving it has a significant impact on the market last 2016 and that it catches the attention of everyone for they are hoping that this could be a bug helps to recover their losses. Besides, most experts say that we can expect an uptrend motion. Do it looks encouraging and it makes people keep their Bitcoin rather than sacrificing it for a loss.

Meowth05

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Quote from: bitbunnny on January 14, 2020, 05:24:11 AM

To my opinion people are expecting too much of halving, some huge price rise, and yes, we are paying too much attention to it.
It's not very likely that halving will bring us big and continuous price rise so many might end up disappointed. Halvimg will not have so big impact.

People tend to expect too much upon this coming Bitcoin halving simply because we already have seen how big impact happended in crypto world a year ago. Everybody expect that there bull trend will enter the market after the halving. This event will caught a lot of attention indeed simply because it's only occur every 4 year yet it does bring positive impact in the market.

Lucius

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Quote from: Bitcoin_bullish on January 13, 2020, 10:28:56 AM

Looking at the charts I see that the bull run started in 2016. We went from 200$ all the way up to 1000$ at the end of this year. The price went parabolic the whole 2017 because of many good news that had to do with adoption. These news became reality with Bitcoin becoming a legal method of purchasing in Japan and Korea and then these major markets started investing. So I don't think it was the halving caused the price to rise this high.

I don't know where you look at the data, but if you check here then you can see that the price on Jan 01, 2016 was around $400+, and it stays at that level until May 2016. The year is closed with $960, and I do not see bull run in 2016, perhaps only his beginning.

I know that Japan is declared BTC as "form of payment method" in 2017, but where you get info that South Korea is doing the same? To my knowledge, this has never happened, and 2017 was not a positive year as far as it was concerned crypto regulation in that country.

Quote from: https://complyadvantage.com/knowledgebase/crypto-regulations/cryptocurrency-regulations-south-korea/

In South Korea, cryptocurrencies are not considered legal tender and exchanges, while legal, are part of a closely-monitored regulatory system. Cryptocurrency exchange regulations in South Korea are strict and involve government registration and other measures overseen by the South Korean Financial Supervisory Service (FSS). Although a rumored ban never materialized, in 2017, the South Korean government prohibited the use of anonymous accounts in cryptocurrency trading, and also banned local financial institutes from hosting trades of Bitcoin Futures. In 2018, the Financial Services Commission (FSC) imposed tighter reporting obligations on banks with accounts held by crypto exchanges.

bitbunnny

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To my opinion people are expecting too much of halving, some huge price rise, and yes, we are paying too much attention to it.
It's not very likely that halving will bring us big and continuous price rise so many might end up disappointed. Halvimg will not have so big impact.

sovie

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Quote from: bounceback on January 14, 2020, 05:00:30 AM

Quote from: Bitcoin_bullish on January 13, 2020, 07:02:04 AM

I think this subject should be discussed more and promoted further by influencers to convince everyone to give Bitcoin a chance.

I dream for the day when every merchant, online or physical store, will have the price of Bitcoin tagged next to fiat price and I think it will become reality soon.

promoting bitcoin is actually an obligation for us crypto users, maybe some people will be interested to start adopting bitcoin when they see our promotion, maybe it will also benefit us by increasing bitcoin adoption so it is very possible that bitcoin prices will also rise higher.

but in my opinion as a payment method, it looks like bitcoin isn't quite ready right now because there are still some transaction problems that need to be fixed.

Bitcoin transaction has some serious issues like scalability and high fee during congestion. Probably that's why bitcoin hasn't taken off in tern of payment method. We have lightning network to solve this but it's still in early days.

bounceback

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Quote from: Bitcoin_bullish on January 13, 2020, 07:02:04 AM

I think this subject should be discussed more and promoted further by influencers to convince everyone to give Bitcoin a chance.

I dream for the day when every merchant, online or physical store, will have the price of Bitcoin tagged next to fiat price and I think it will become reality soon.

promoting bitcoin is actually an obligation for us crypto users, maybe some people will be interested to start adopting bitcoin when they see our promotion, maybe it will also benefit us by increasing bitcoin adoption so it is very possible that bitcoin prices will also rise higher.

but in my opinion as a payment method, it looks like bitcoin isn't quite ready right now because there are still some transaction problems that need to be fixed.

KieranG

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Personally I think the bear market is over, we just have no real reason for things to go "up".

The halving is already priced in for us coiners, it's when the next mainstream news pickup and nocoiners entering that would be driving any price activity to the contrary and that' won't happen without positive media attention and a purpose

Blackdeath

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Since we experienced a long year of bear market in 2018. Most of us have put a lot of attention and waiting for bitcoin halving, so we could get back all of our losses. We are also expecting that halving will occur this year of 2020, that is why we are excited on what will be the improvement of bitcoin to it's price.

oktana

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New users have interests on both sides, adoption and price development are always in the same option.

the most important thing right now is that the ecosystem is waiting for progress from Halving and is closely related to the potential for price increases, op can also continue to educate about the lightning network at the same time, in fact I am still thinking about complicated things like obstacles from the government, so I think adoption will move automatically if it is in line with price developments.

bitvalak

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Halving is the moment awaited by all bitcoin users, because obviously they not only want to use bitcoin technology but also want to get capital gains. It is true that from now on it requires a large adoption, but it will have high scalability as well.
What do you expect about the future of bitcoin is more or less the same as many people think, but the problem is we are not in the process for now. The attention of people at this time is on halving, maybe after halving it can come true.

lixer

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Yes, we are all paying lots of attention to the upcoming halving because it will be a big event within bitcoin ecosystem. I use Bitcoin every week for transaction, and I’m always funding my wallet. Money that fund in my Bitcoin wallet hardly stays for long because I’m always sending it out, so I would say that I mainly make use of Bitcoin as a means of transaction and not really for investment. But, I’m planning to buy a hardware wallet like Trezor and use it to store bitcoins now that there is going to be a halving since a lot of people are saying there is going to be an increase.

A lot of people I know that are afraid to make use of Bitcoin is because of the volatile price, and those I see that go for it are mainly as investment, it’s only few that use it mainly for transaction.

barabarian1

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I think it's natural that most cryptocurrency holders are very focused on bitcoin halving day. because this only happens once every 4 years. and if we look at the history of bitcoin, bitcoin always rises higher after being reduced by half. so all investors are looking forward to bitcoin halving day.
and for the issue of mass adoption of bitcoin I think it is still a long way to go. because the number of people who know and understand about bitcoin are still very few compared to those who don't know bitcoin.

CodyAlfaridzi

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Good point @OP.

We are too excited about the halving because in the past it has led to a massive bull run which multiplies Bitcoin's price several folds. Of course, people are excited for that. Yes it is a sad state that most people don't even aware of the current development. I was shocked when I knew that a "trader" that I thought was smart didn't even know the basic economy of mining. That's frustrating.

How to make more people talk about development is the challenge. Most people are just looking for money here, unfortunately.

gabmen

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Quote from: KnightElite on January 13, 2020, 09:03:59 PM

Everybody is focusing and giving attention in halving, I think we should not expect too much. I'm not excited about the halving because I'm a trader and I am not a speculator. Most of the posts that I keep seeing are about their hopes that the price of the bitcoin will increase after the halving, let me remind you it is just a "hope". It is better if we will still focus and give attention in price action than in halving that will happen.

Well the expectations are based on what happened during the previous halving. The value did shoot up then and people have a legitimate reason to be excited. Though i don't want to be in the hype too much as we're not sure that it's going to follow previous trends. Recently, the movement of the market tend to go against what happened before.

MURONDI

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I hope prices always go up in the future, in my opinion at this time bitcoin is still not suitable as a means of payment for micro businesses given the price is very volatile, maybe now bitcoin will be more suitable as an asset or investment for the future, and when all countries have accepted bitcoin, only then is it applied as a means of payment.

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