Will Bitcoin Price Halving succeed with Currently Situation

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Quote from: South Park on April 02, 2020, 10:31:38 AM

Quote from: pixie85 on March 28, 2020, 05:59:11 PM

Miners will not quit because of the halving like many people seem to think. Those who are quitting now are probably being forced to do it because of the virus. Many companies have been shut down and quaranteened and Bitcoin mines aren't an exception here. China has closed its borders in preparation for another wave of infections and this had to impact the miners located there.

We think of the miners as gigantic organizations with lots of cash in hand that can survive anything but the majority of miners are probably persons that have a few miners on their own and that are part of a mining pool and they do not have the cash to survive for that long, there are estimates that say that it takes roughly 6k to mine a bitcoin and when the halving comes that number will go up so the majority of those miners are not going to have the money to mine bitcoins for a loss for long and they will have to shutdown their operations because of the halving.

Reality that's needed to face after the halving, small miners will suffer as numbers of possible bitcoins to be mine will be lessen. Only those big
companies are capable to continue and take advantages of those bitcoin which still available after the halving.
Small miners will surely move away from this business as they can't survive with the amount of expenses over the amount of shared mines that
they will earn from their mining equipment.

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Quote from: fudster on April 02, 2020, 12:52:41 PM

Quote from: posi on April 02, 2020, 12:19:58 PM

Quote from: South Park on April 02, 2020, 10:31:38 AM

Quote from: pixie85 on March 28, 2020, 05:59:11 PM

Miners will not quit because of the halving like many people seem to think. Those who are quitting now are probably being forced to do it because of the virus. Many companies have been shut down and quaranteened and Bitcoin mines aren't an exception here. China has closed its borders in preparation for another wave of infections and this had to impact the miners located there.

We think of the miners as gigantic organizations with lots of cash in hand that can survive anything but the majority of miners are probably persons that have a few miners on their own and that are part of a mining pool and they do not have the cash to survive for that long, there are estimates that say that it takes roughly 6k to mine a bitcoin and when the halving comes that number will go up so the majority of those miners are not going to have the money to mine bitcoins for a loss for long and they will have to shut down their operations because of the halving.

Your prediction about some miners to quit mining is right but there will be some die hard bitcoin enthusiast among the miners which will mine bitcoin base on the future price and Mati of etoro have once make a statement on twitter when the Chinese government thought of shutting down bitcoin mining factory in China that will only lead to a positive effect on BTC price. Besides, halving was purpose as BTC inflation control not to cause downtrend.

There are places where electricity is just too cheap and miners will just keep mining and will sell them at market price. Halving will always succeed as it always did in the past. Its fast approaching by the way and I think there will be a lot of buyers of BTC just before halving now that they knew people were selling out due to Covid crisis.

There will definitely a lot of demand in the bitcoin market before it halving and there are also some places where the electricity is cheap but that does not answer the fact that some miners which are from the region where electricity is cost will somehow quit mining because of no profit.
Meanwhile, we should be happy now that the lightning network capacity is improved.

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Quote from: SUMBI99 on March 18, 2020, 03:29:06 PM

Bitcoin price drops almost more than 35% compared to the raise marked previous months, and it believed that bitcoin halving will raise the price, will it succeed as predicted before with current market and economic conditions.

Does halving guarantees increasing price? No it isnt but if we do base on long term aspect, then yes it does and try to look on what happened
on previous halvings and price movement on longer duration or span of time.We did actually rose up and also dont expect that effects can be seen
on shorter time frame because thats not what it all about.

Always put up in mind that nothing is assured here on crypto space,no matter how bullish the sentiment is - it wont give out a sure
result that everyone can rely or depend on.

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Quote from: posi on April 02, 2020, 12:19:58 PM

Quote from: South Park on April 02, 2020, 10:31:38 AM

Quote from: pixie85 on March 28, 2020, 05:59:11 PM

Miners will not quit because of the halving like many people seem to think. Those who are quitting now are probably being forced to do it because of the virus. Many companies have been shut down and quaranteened and Bitcoin mines aren't an exception here. China has closed its borders in preparation for another wave of infections and this had to impact the miners located there.

We think of the miners as gigantic organizations with lots of cash in hand that can survive anything but the majority of miners are probably persons that have a few miners on their own and that are part of a mining pool and they do not have the cash to survive for that long, there are estimates that say that it takes roughly 6k to mine a bitcoin and when the halving comes that number will go up so the majority of those miners are not going to have the money to mine bitcoins for a loss for long and they will have to shut down their operations because of the halving.

Your prediction about some miners to quit mining is right but there will be some die hard bitcoin enthusiast among the miners which will mine bitcoin base on the future price and Mati of etoro have once make a statement on twitter when the Chinese government thought of shutting down bitcoin mining factory in China that will only lead to a positive effect on BTC price. Besides, halving was purpose as BTC inflation control not to cause downtrend.

There are places where electricity is just too cheap and miners will just keep mining and will sell them at market price. Halving will always succeed as it always did in the past. Its fast approaching by the way and I think there will be a lot of buyers of BTC just before halving now that they knew people were selling out due to Covid crisis.

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Quote from: South Park on April 02, 2020, 10:31:38 AM

Quote from: pixie85 on March 28, 2020, 05:59:11 PM

Miners will not quit because of the halving like many people seem to think. Those who are quitting now are probably being forced to do it because of the virus. Many companies have been shut down and quaranteened and Bitcoin mines aren't an exception here. China has closed its borders in preparation for another wave of infections and this had to impact the miners located there.

We think of the miners as gigantic organizations with lots of cash in hand that can survive anything but the majority of miners are probably persons that have a few miners on their own and that are part of a mining pool and they do not have the cash to survive for that long, there are estimates that say that it takes roughly 6k to mine a bitcoin and when the halving comes that number will go up so the majority of those miners are not going to have the money to mine bitcoins for a loss for long and they will have to shut down their operations because of the halving.

Your prediction about some miners to quit mining is right but there will be some die hard bitcoin enthusiast among the miners which will mine bitcoin base on the future price and Mati of etoro have once make a statement on twitter when the Chinese government thought of shutting down bitcoin mining factory in China that will only lead to a positive effect on BTC price. Besides, halving was purpose as BTC inflation control not to cause downtrend.

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Quote from: pixie85 on March 28, 2020, 05:59:11 PM

Miners will not quit because of the halving like many people seem to think. Those who are quitting now are probably being forced to do it because of the virus. Many companies have been shut down and quaranteened and Bitcoin mines aren't an exception here. China has closed its borders in preparation for another wave of infections and this had to impact the miners located there.

We think of the miners as gigantic organizations with lots of cash in hand that can survive anything but the majority of miners are probably persons that have a few miners on their own and that are part of a mining pool and they do not have the cash to survive for that long, there are estimates that say that it takes roughly 6k to mine a bitcoin and when the halving comes that number will go up so the majority of those miners are not going to have the money to mine bitcoins for a loss for long and they will have to shutdown their operations because of the halving.

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One way or another, the division of the reward for Bitcoin mining will still take place, but How it will affect the price of Bitcoin is very difficult to say. The fact is that I wanted to understand this issue a bit and saw a lot of factors that complicate the work for miners, since miners will be forced to buy more expensive equipment for bitcoin mining, besides, as always, they require large energy costs. but we must consider the cost of bitcoin mining, which is much higher than the cost of bitcoin today. But if the reward for miners is reduced, then problems with manners can lead to an even greater deficit in transactions, since even today's scalability of Bitcoin does not very much satisfy many. Personally, I prefer to wait for the month of May and myself to observe what will happen.

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Quote from: ololajulo on March 29, 2020, 04:56:32 PM

I am very sure the success of bitcoin can only be delayed, it cant ever be denied. Some are with the opinion the build up for bitcoin would manage the parabolic pump not to have such a devastating bear market like we have had, some also feel we cant have the 100k and beyond in the next bull, even Roger Var made the number of such predictors.

Now that the harsh rate had reduced massively will it postpone the halving beyond May?

How massively hash rate reduced? Difficulty adjust every 14 days. So delay can be only few days. When halving of BCH and BS will happen next week I believe many miners that mine them will switch to Bitcoin. So difficulty will only increase and not decrease.

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Quote from: criza on March 30, 2020, 08:32:33 PM

Yes, because for me, the present condition where the people is in a quarantine will only serve as a catalyst for the upcoming bull run. People in a quarantine, can't buy freely outside the things they wanted because, not all are accessible, restos and other destinations are usually closed because of the pandemic, and sooner, if the quarantine would be lift off, impending demand would make the standing of stock markets to shoot up especially Bitcoin because, the upcoming halving event will make the demand for it even more high.

The most reason that most of us are expecting the possible price increase and market pumps is that we tend to see a huge market demand due to the pandemic situation but the market shows in the opposite way but instead, it drops. The coming halving still in the uncertainty and we all are aware of how the global market affects us and in crypto. Though we saw a slow-growing market but still, it is not enough to make bullish to be in reality. It is possible that we gonna miss it again this year.

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Yes, because for me, the present condition where the people is in a quarantine will only serve as a catalyst for the upcoming bull run. People in a quarantine, can't buy freely outside the things they wanted because, not all are accessible, restos and other destinations are usually closed because of the pandemic, and sooner, if the quarantine would be lift off, impending demand would make the standing of stock markets to shoot up especially Bitcoin because, the upcoming halving event will make the demand for it even more high.

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Quote from: Hypnosis00 on March 30, 2020, 07:45:11 AM

Quote from: SUMBI99 on March 18, 2020, 03:29:06 PM

Bitcoin price drops almost more than 35% compared to the raise marked previous months, and it believed that bitcoin halving will raise the price, will it succeed as predicted before with current market and economic conditions.

It possible that we can't see the price moves so high compared before but it seems not really a big deal for me (I hope the others will). The most important thing is that we are able to surpass the hard time that we are facing today. I know some people look embarrassed and really disappointed as they are much expecting it to be bullish. The situation isn't perfectly at the right time, the spread of coronavirus brings the whole market into down and makes people become paralyzed from their normal activities.

But even though we have this pandemic, I know investors still have the strength and strong minds to give them enlightenment. And this could help not to bring the market drops hard.

We are still seeing that the prices are holding still into these levels which is pretty good which means panic didnt go through the floor when its tending to head lower than 3k price.
I can feel out the panic but this isnt the first time for crypto market to have this kind of bad situation where prices do hit up their all time low for years.About bitcoin halving,
im not really that also expecting much specially now that we are experiencing a big global problem which is the covid 19.Its not the right time to consider out on prioritizing
our holdings or money because whats the most important for now is our own lives or survival.

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Quote from: SUMBI99 on March 18, 2020, 03:29:06 PM

Bitcoin price drops almost more than 35% compared to the raise marked previous months, and it believed that bitcoin halving will raise the price, will it succeed as predicted before with current market and economic conditions.

It possible that we can't see the price moves so high compared before but it seems not really a big deal for me (I hope the others will). The most important thing is that we are able to surpass the hard time that we are facing today. I know some people look embarrassed and really disappointed as they are much expecting it to be bullish. The situation isn't perfectly at the right time, the spread of coronavirus brings the whole market into down and makes people become paralyzed from their normal activities.

But even though we have this pandemic, I know investors still have the strength and strong minds to give them enlightenment. And this could help not to bring the market drops hard.

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Quote from: ololajulo on March 29, 2020, 04:56:32 PM

I am very sure the success of bitcoin can only be delayed, it cant ever be denied. Some are with the opinion the build up for bitcoin would manage the parabolic pump not to have such a devastating bear market like we have had, some also feel we cant have the 100k and beyond in the next bull, even Roger Var made the number of such predictors.

Now that the harsh rate had reduced massively will it postpone the halving beyond May?

Good point. As of now the bottom looks like the 6k mark and it is having a difficult time to go beyond that again.
But that is still just a price.
After all of this some people may suddenly look for another option to save their money and bitcoin is just around the corner.
They might discover it after this.
The thought of not touching anything will remain because of the pandemic. You want to just swipe something to pay for everything and not having a chance to be infected with all those coins and paper.

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I am very sure the success of bitcoin can only be delayed, it cant ever be denied. Some are with the opinion the build up for bitcoin would manage the parabolic pump not to have such a devastating bear market like we have had, some also feel we cant have the 100k and beyond in the next bull, even Roger Var made the number of such predictors.

Now that the harsh rate had reduced massively will it postpone the halving beyond May?

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Quote from: pixie85 on March 28, 2020, 05:59:11 PM

Miners will not quit because of the halving like many people seem to think. Those who are quitting now are probably being forced to do it because of the virus. Many companies have been shut down and quaranteened and Bitcoin mines aren't an exception here. China has closed its borders in preparation for another wave of infections and this had to impact the miners located there.

Bitcoin has never faced a recssion as big as this one, sho this halving could be different but I don't expect a drop in price. We will probably not get another 10x growth like we used to but it's not going to be a disaster either.

Expect the unexpected even the covid problem neither happened or not.Market is always unpredictable where things do happen on least expected even how bullish we are facing.
For now where we are facing a pandemic, its no surprise to presume that things now are becoming worst and we can point out into those things that heavily affected which would really
be a big factor on the upcoming halving event.Honestly, im not already expecting for such big growth but somehow i do still hope for something deep inside but to avoid yourself
on getting stressed then better dont mind too much because if things wont happen on what you expect then it will surely just frustrate you.

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Miners will not quit because of the halving like many people seem to think. Those who are quitting now are probably being forced to do it because of the virus. Many companies have been shut down and quaranteened and Bitcoin mines aren't an exception here. China has closed its borders in preparation for another wave of infections and this had to impact the miners located there.

Bitcoin has never faced a recssion as big as this one, sho this halving could be different but I don't expect a drop in price. We will probably not get another 10x growth like we used to but it's not going to be a disaster either.

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Quote from: fabiorem on March 24, 2020, 02:39:49 PM

Yes, it will cut bitcoin cost of production in half.

Today the cost to make one bitcoin is $8k. And the standard market price is $6k. The bottom is $3k.
After the halving, the cost will be $4k. And the standard market price will be $3k. The bottom will be $1.5k.

For this reason, many miners will stop their operations, as it will cost less to make a single coin. This means less profit and less motivation to continue.
I trust the medical establishment and vaccines will be a solution for the current financial crisis. After the vaccine everything will flourish again.

While a vaccine will without a doubt help to get back the confidence of investors and the general public in the economy, it is going to take a lot of time to produce enough of it to protect the people that have the greater risk of contracting the disease, as such the negative effects on the economy will continue for months if not for the rest of the year and even if the halving is a great news when it comes to the fundamentals it is not going to push the price of bitcoin up immediately, but instead of looking at this as a problem you need to look at this as an opportunity since it is likely we will be able to buy bitcoin for a cheaper price during the next months.

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Quote from: fabiorem on March 24, 2020, 02:39:49 PM

Yes, it will cut bitcoin cost of production in half.

Today the cost to make one bitcoin is $8k. And the standard market price is $6k. The bottom is $3k.
After the halving, the cost will be $4k. And the standard market price will be $3k. The bottom will be $1.5k.

For this reason, many miners will stop their operations, as it will cost less to make a single coin. This means less profit and less motivation to continue.
I trust the medical establishment and vaccines will be a solution for the current financial crisis. After the vaccine everything will flourish again.

I have seen people who are wrong before, this is not the first time I am facing someone who is wrong, but I have actually never seen someone as wrong as you are. Bitcoin cost will literally double not drop in half, do you even have any single clue on what halving is?

The mining production will basically get half of what it used to get per block they find, which means they will actually lose money and not make money, there is absolutely no way you can miss that if you looked at it even once. Halving will help us out a lot in the future because of less inflation but do not forget that we have dropped to 5k this way while miners were basically losing money, so just because there is a bitcoin mining cost doesn't mean price won't go below that, it could definitely still go down.

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Quote from: rodskee on March 24, 2020, 10:32:42 PM

Quote from: SUMBI99 on March 18, 2020, 03:29:06 PM

Bitcoin price drops almost more than 35% compared to the raise marked previous months, and it believed that bitcoin halving will raise the price, will it succeed as predicted before with current market and economic conditions.

No one knows mate but if we will all Bind together to Buy in this cheaper price?and to keep the Holdings for the halving?
i Believe there will be a chance to grow even the Corona Virus is killing all the economy worldwide and thats indeed.
but if all will make negative impression and don't look for the Positive part?then no way we can achieve this Success even the halving take part this next quarter.

hodling and buying can surely up the price without the help of halving but not all people can do that this time because people feel the tension too . some people depend on the halving too much but they themselves dont do actions such as buying .

if they are excited they should make an effort atleast buying for preparation as that can also contribute to up the price . lastly halving will be succesful and no virus can stop it because halving is done online and not offline the only question is if this really up the price but i think its 50/50 .

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Quote from: SUMBI99 on March 18, 2020, 03:29:06 PM

Bitcoin price drops almost more than 35% compared to the raise marked previous months, and it believed that bitcoin halving will raise the price, will it succeed as predicted before with current market and economic conditions.

No one knows mate but if we will all Bind together to Buy in this cheaper price?and to keep the Holdings for the halving?
i Believe there will be a chance to grow even the Corona Virus is killing all the economy worldwide and thats indeed.
but if all will make negative impression and don't look for the Positive part?then no way we can achieve this Success even the halving take part this next quarter.

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