Topic: what will happen in 37 weeks when bitcoin halves again - page 2. (Read 2871 times)
It may come to be that it is not profitable anymore for some miners to continue mining - especially maybe smaller, solo miners or those without access to cheap electricity and efficient hardware. Mining itself will not stop.
price will increase i'm 99% sure about this, so this will prevent miners from abandoning the scene, even the small one, hell right now there is already more profit to be made
let alone another increase in value
let alone another increase in value
If miners stopped mining it would be great for everyone else.
It wouldn't be great for anyone. If mining does stop, Bitcoin blocks won't be mined or at least at a slower rate and it takes much longer for difficulty readjustment and profits won't be better till it readjust. It would also be more susceptible to 51% attacks. That being said, even with the halving of blocks, people would still have cheap electricity and not a huge portion would stop mining. 
If miners stopped mining it would be great for everyone else.
Are you sure about that? I still have much to learn about bitcoin but wouldn't it fail since there would be no one securing the transactions?
BTC price ll go up much before that due to people expecting less supply as a result of halving. Miners ll be fine, traders ll be fine, holders ll be fine.
Get more BTC while u still can.
Get more BTC while u still can.
If miners stopped mining it would be great for everyone else.
Certainly before this event the big pump happens, where can be earn but miners will mine as usual, they have no choice.
..Less rewards means less supply of bitcoins so maybe higher price in the end.
Context seems to be off on this one. The hard coded supply of all bitcoins is 21000000 (20999999.7 afaik) and it wouldn't go lower than that. The only thing that's gonna be decreased are the rewards per block but not the supply. Rewards per block != supply.
Right. Maybe I shouldn't have said supply. I wasn't talking about the total supply of bitcoins. I meant that at the time of the reward halving there would be less bitcoins being mined and so less being sold by miners and flooding the market.
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what will happen in 37 weeks when bitcoin halves again
There will be much less to the moon and to the depth 
In fact the prediction of recent price ditches can be seen clearly and the miners will be in most profit. The holders holing coins will start selling them and will make quick profits.
Actually no one can predict the outcomes as bitcoin is un predictable.
According to the bitcoin clock bitcoin will drop to 12.5 btc per block in late July of 2016.
How will miners react to this?
What will it take to keep miners mining?
What if miners in large numbers decide not to mine?
Miners will keep on mining if there's a profit to it, if not, a part of them will shut their miners down. After that, difficulty would drop, and miners would mine once again.
There's no chance large number of miners won't mine, and even if they did, it wouldn't make a difference, it would just be more profitable for the ones who would keep mining.
According to the bitcoin clock bitcoin will drop to 12.5 btc per block in late July of 2016.
How will miners react to this?
What will it take to keep miners mining?
What if miners in large numbers decide not to mine?
Miners will keep on mining if there's a profit to it, if not, a part of them will shut their miners down. After that, difficulty would drop, and miners would mine once again.
There's no chance large number of miners won't mine, and even if they did, it wouldn't make a difference, it would just be more profitable for the ones who would keep mining.
There will be less dumps from miners to cover their electrical fees and the price could rise slightly. Mining would still be overall profitable for most miners with cheaper electricity as most has already made ROI by then. I project that the difficulty may rise very slowly or even decrease.
These are all just speculations. Everyone has their own opinion on this and this is just someones opinion. I personally don't think that Bitcoin is going to drop a substantial amount in the near future.
According to the bitcoin clock bitcoin will drop to 12.5 btc per block in late July of 2016.
How will miners react to this?
What will it take to keep miners mining?
What if miners in large numbers decide not to mine?
lets say it costs $5000 to mine a block based on total hash power and average electric, meaning miners would happily sell their reward at $260/btc to net a $60 profit..
if the difficulty keeps rising.. the cost to mine it increases, and as such the price naturally rises.
then at the block reward halving.. they suddenly have the same costs (estimating $300+) but only half as many btc rewarded.. thus to break even they either stop mining and let others take a bigger share, or logically hold out selling their coin until its over $600 to breakeven/profit..
but then again most miners dont sell on the public exchanges and as such the exchanges value does not accurately reflect resource cost->sell of producing new bitcoin.
eg
most american markets are completely separate from logic and bitcoin production costs.. best to watch the chinese markets and respond appropriately if their prices move too far from american prices
The price increase over the last month seems to be factoring in this.
Supply will be cut. So we can expect some further price appreciation.
Supply will be cut. So we can expect some further price appreciation.
..Less rewards means less supply of bitcoins so maybe higher price in the end.
Context seems to be off on this one. The hard coded supply of all bitcoins is 21000000 (20999999.7 afaik) and it wouldn't go lower than that. The only thing that's gonna be decreased are the rewards per block but not the supply. Rewards per block != supply.
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in my prediction 30% of miners decide not to mine and waiting till the bitcoin price go up or until they can make profit with it
Our network security is = the $ value a miner could earn from the block rewards plus transaction fees vs the $ value they could get paid for attacking the network.
As they get paid less and less the option to attack the network becomes potentially more profitable .
So if the price of bitcoins stays the same then you would see further consolidation of the mining hardware and lesser funds going toward the security of the network.
The day will come when block rewards will be minimal and unless bitcoin gos up in value by a tremendous amount or transaction fees rise by a lot then the security of the network will be weak.
It will become much cheaper to attack the network. Right now the network is paying for itself threw inflation, 99% of the cost to secure the network comes from block rewards.
Without higher transaction fees the people controlling mining hardware will have less incentive to play by the rules regardless of mining difficulty, a point will be reached where breaking the rules will pay more, even if its just a short term gain.
As they get paid less and less the option to attack the network becomes potentially more profitable .
So if the price of bitcoins stays the same then you would see further consolidation of the mining hardware and lesser funds going toward the security of the network.
The day will come when block rewards will be minimal and unless bitcoin gos up in value by a tremendous amount or transaction fees rise by a lot then the security of the network will be weak.
It will become much cheaper to attack the network. Right now the network is paying for itself threw inflation, 99% of the cost to secure the network comes from block rewards.
Without higher transaction fees the people controlling mining hardware will have less incentive to play by the rules regardless of mining difficulty, a point will be reached where breaking the rules will pay more, even if its just a short term gain.
That sounds scary. I hope it does not happen. I would like to see bitcoin survive in the longterm.
Our network security is = the $ value a miner could earn from the block rewards plus transaction fees vs the $ value they could get paid for attacking the network.
As they get paid less and less the option to attack the network becomes potentially more profitable .
So if the price of bitcoins stays the same then you would see further consolidation of the mining pools and hardware in large farms, likely in china where power is cheap if not free.
This makes large chunks of the mining world vulnerable to gov control, or natural disasters like floods.
The day will come when block rewards will be minimal and unless bitcoin gos up in value by a tremendous amount or transaction fees rise by a lot then the security of the network will be weak.
It will become much cheaper to attack the network. Right now the network is paying for itself threw inflation, 99% of the cost to secure the network comes from block rewards.
Without higher transaction fees the people controlling mining hardware will have less incentive to play by the rules regardless of mining difficulty, a point will be reached where breaking the rules will pay more, even if its just a short term gain.
Sorry for so many edits
As they get paid less and less the option to attack the network becomes potentially more profitable .
So if the price of bitcoins stays the same then you would see further consolidation of the mining pools and hardware in large farms, likely in china where power is cheap if not free.
This makes large chunks of the mining world vulnerable to gov control, or natural disasters like floods.
The day will come when block rewards will be minimal and unless bitcoin gos up in value by a tremendous amount or transaction fees rise by a lot then the security of the network will be weak.
It will become much cheaper to attack the network. Right now the network is paying for itself threw inflation, 99% of the cost to secure the network comes from block rewards.
Without higher transaction fees the people controlling mining hardware will have less incentive to play by the rules regardless of mining difficulty, a point will be reached where breaking the rules will pay more, even if its just a short term gain.
Sorry for so many edits
^ and less bitcoins being mined overall, so even greater price per bitcoin. That's a great incentive.
According to the bitcoin clock bitcoin will drop to 12.5 btc per block in late July of 2016.
How will miners react to this?
What will it take to keep miners mining?
What if miners in large numbers decide not to mine?
I doubt miners will stop in large numbers. Less rewards means less supply of bitcoins so maybe higher price in the end.
According to the bitcoin clock bitcoin will drop to 12.5 btc per block in late July of 2016.
How will miners react to this?
What will it take to keep miners mining?
What if miners in large numbers decide not to mine?
I doubt miners will stop in large numbers. Less rewards means less supply of bitcoins so maybe higher price in the end.
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