Topic: What if the price of Bitcoin continued to fall during the halving? - page 2. (Read 371 times)
September 07, 2022, 08:37:44 AM
if there is a world war of course not only bitcoin but all stocks will fall and many more including fiat money or banks will close, but bitcoin can actually be an alternative also in times of war can send bitcoin via radio as I read on this forum as well via sms so that without having to use the internet if there is a problem with the internet network, actually bitcoin can be a hedge depending on the perspective of the person holding it, the bitcoin price will recover so be patient for it take it and buy it cheap now
September 07, 2022, 08:19:30 AM
We all believe in Bitcoin and think that Bitcoin is a safe place where money can be controlled as own wish. A facility that a bank will not provide . Maybe the price of Bitcoin may drop for a while but I don't think it will ever crash to 0, not only Bitcoin but any type of product in the world fluctuates with time and situations . Bitcoin had previously dropped from $20k to just under $4K but it was go above 60K again some month ago so I am not too worried about Bitcoin.
This has been demonstrated by bitcoin many times in the past, where it has slumped 80% to 85% in value, and then bounced back and will always reach new ATHs after that. This time, I think it will be no exception bitcoin will repeat the past even though the world economic situation will be many times worse than now. The stronger the decline, the stronger the growth will be, that's what bitcoin has always done.
September 07, 2022, 08:07:58 AM
We all believe in Bitcoin and think that Bitcoin is a safe place where money can be controlled as own wish. A facility that a bank will not provide . Maybe the price of Bitcoin may drop for a while but I don't think it will ever crash to 0, not only Bitcoin but any type of product in the world fluctuates with time and situations . Bitcoin had previously dropped from $20k to just under $4K but it was go above 60K again some month ago so I am not too worried about Bitcoin.
September 07, 2022, 07:52:42 AM
The mining feedback loop of more hashrate and higher prices with lower rewards has to come to an end at some point. I imagine when it does, there will be a death spiral of price and hashrate that lasts quite a long time and likely bankrupts some of the largest players in the game. Will that happen this cycle? Probably not. It is inevitable though. The decoupling of this feedback loop will happen and it will hurt for a long time. I think we've got one more cycle to go before this becomes an issue though.
September 07, 2022, 07:24:31 AM
If you are talking about the world war, everything will fall including banks that would be destroyed, and fiat monies too as you presume and I dont think Bitcoin would be any different. Major mining rigs could be distroyed which might have a negetive effect on the network and eventually the price. The price of Bitcoin don't immediately go up right after Halving it will usually take some time and could even fall a bit from the price during Halving but until all your assumption truly happens, nothing to fear as far as I am corncern for now.
September 07, 2022, 07:00:09 AM
What if it fell so low during the halving that miners couldn't recoup their costs?
Difficulty adjustments happen every 2016 blocks or ~2weeks. With such decline in price, some miners would shut down operations due to the costs, and this would lower the hashrate, dropping the difficulty level during the next adjustment. This drop will attract new miners.It is a self balancing system.
During a world war, I'm sure a lot of assets would be destroyed. But is BTC particularly vulnerable?
During a hypothetical world war, ease of carrying money around would be paramount, with bitcoin doing that better than almost all assets. It is also not as restricted as fiat to the country where it is the national currency.A big draw back to be how it is heavily dependent on the internet, but if you only want to store your assets, Bitcoin would function well and can hold its value through it.
- Jay -
September 07, 2022, 05:52:31 AM
Only what I think is that many people would see bitcoin as a safe means of keeping money, if a country is affected, fiat is affected, banks can close down and many people will not be able to have access their money. But with bitcoin, you have the total control over your coins. Bitcoin do increase in counties where there is war as they buy it in premium, but about world war, I do not know what could happen than the price to increase because more people will move from bank to bitcoin.
September 07, 2022, 05:48:16 AM
In such an event, I believe the price of Bitcoin would plummet. What if it fell so low during the halving that miners couldn't recoup their costs? During a world war, I'm sure a lot of assets would be destroyed. But is BTC particularly vulnerable?
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