/biz/ - Business & Finance

>>18970931
what happens when time runs out?

>>18970943
the halving, you lose half your coins, but they double in value, very bullish.

>>18970957
who gets these half of my coins?

>>18970957
The price halves

>>18970957
>you lose half your coins
no you don't
the absolute state of biz

>>18970962

Satoshi Namakuro

>>18970972
Why not tell the truth then instead of just saying others are wrong?

Only 1-2 more halvings and bitcoin is finally dead. Yay.
When chinks finally decide to pull the plug because bitcoin will never rise high enough to make those miners big profits.
Bitcoin will fucking die and I can't wait, hahahaaaaaaaaaaaaaaaaaaaaaa.
Lmao, decentralized my ass.

>>18970931
nothingberg

will go back to 8k then crab for 6 months THEN ath

>>18971008
what is supply and demand

Why does crypto community think inflation is an absolute bad thing and the less the better?
Anyone know about the Friedman's k-percent rule?

>>18970950
bitcoin drops $100
>>18970943

>>18970931
Miners are going to dump everything they have during these days, after the halving there is going to be a dump.
But we will start making gains after a week or so.

>>18970943
miners go bankrupt

the dump is going to be glorius

imagine not selling the news

>>18971023
Yes, what is it?
You do realize bitcoin doesn't even scale in any way or form you absolute retard?
Keep speculating about a useless asset, LMFAO.

every single crypto incel got his short ready for the halvening

and big boys will annihilate all shorts on the entire market ofcourse

>>18971062
Daily reminder '17+ fags opinions are worthless

>>18970931
nothing will happen. The hype is over permanently. Investors have moved onto the next "thing" already.

>>18971054
Miners get the same amount of money as the did in the mid-March dump, when only ~20% shut off.
Unless the price dumps along with the reduced reward, nothing extreme happens to the mining ecosystem.

>>18971074
Nice strawman, you lost.
And everyone else who is still holding BTC in 2020 lost as well.
Can't wait for all those pink wojaks all over again soon. Unironically still believing bitcoin is something like a store of value or that still has any use outside of speculation. It has zero future and it actually destroys itself with halving. It's hilarious to watch actually.
I'm feeling very comfy with bags that actually show potential for the future, TECH WISE.

>>18971109
>Nice strawman, you lost.
KEK, Great to hear your in it for the tech
As I said, Daily reminder '17+ fags opinions are worthless.

>>18971135
Unironically still using KEK, boy we are not in 2017 anymore. Tech evolves rapidly.
Can't wait until all bitcoin maximalist plebs lose all their bags. Holy shit man, that will be the very best day of my life.

2 days to the halvening and still can´t break 10k. It´s over, sell sell selll

>>18971173
This.

>>18971023
for bitcoin to keep working it has to keep rising in value forever. Yeah, thats not gonna work. It is flawed and it won´t work without block rewards. More and more miners will leave as their revenue gets cut in half, making the blockchain more and more centralized haha

>>18971034
because the majority of the crypto comminity are retards with no economic knowledge, but they like to pretend they know what they´re talking about. Controlled inflation is a good thing. Muh 21 million is the biggest meme ever. In the end there will be only a few thoisand bitcoins left because everyone would have lost their keys. That is not bullish, its extremely bearish and proves in itself that it will fail.

Is there even anyone that admits to holding a large amount of btc that isnt a pedo twitter avatar?

>>18970957
>>18970962
>>18970973
the mining halves not the coin
mining will take twice as long for same amount
this may decrease miner base, increase cost of coin sold by miners

>>18971216
Seems like a collective delusion that has been building up over the years. Propped up by greed.
Gold would never have been this successful if it didnt have constant mining happening throughout history.
If Bitcoin doesnt fall before by other reasons, there is a real possibility that it will be forced by economic forces to hardfork to change the inflation into something long term sustainable.

Gold is perhaps the best store of value and it has an unknown total supply, but it´s still scarce. Having a known total supply is not really a good thing unless you talk about collectibles like art and pokemon cards. A currency with a known total cap and deflation is extremely bad from an ecomomic perspective. Bitcoin will go the way of other collectibles with an known total cap. Bitcoin will be a collectible, and only that, a collectible that tech autists will collect. It has no future as a store of value or currency.

Just imagine when there is only 1 million bitcoin left in circulation, because bitcoins get lost every day. Imagine the small amount of transaction and volume that economic system will have haha.

>>18970950
dao hack happened , first halving it was a massive pump.

>>18971008
What is that timeline? Doesn't it halve forever? I'm in agreement that unless on btc is worth millions, it seems likely it becomes worthless.

>>18970972
Kill yourself nigger

thats im done with this board, you lot are beyond saving

>>18970972
This has to be bait

>>18970943
Nobody knows. I think a dump (based on past halvenings), although it might be unironically priced in. Normies are saying pump, and it will eventually (since supply will have dropped) but not right away.

>>18971054
Why would they? Difficulty will retarget after a bit & they've been using their Bitcoin as collateral on low interest loans apparently so they don't need to sell off very much (same sort of shit people are doing with lending pools on Eth). So they have massive pools of Bitcoin, no need to go bankrupt, especially when it'll continue to appreciate in value.

>>18971325
I can't remember exactly but only a total of 21mil coins can be created

>>18971034
Friedman himself admitted that was wrong. wtf are you talking about

>>18971285
Stop FUDding on my /biz/

>>18971445
And then 2 days later he retracted that and said that constant inflation is still the right way. wtf are you talking about

>>18970943
2 weeks of insane bitcoin price volatility
then btc price falls to $4815
takes 2 years to get back to todays price

in other words two weeks to sell your btc

>>18971034
>>18971216
Bitcoin is inflationary at least for the next 120 years. It's the inflation rate that's going down with the halvings.

If you're going to spend hours talking and pretending to be economists, at least learn about the absolute basics that everybody knows.

>>18971419
Ok, so that's all still really far away, like 100+ years. I'm torn on this subject, I own exactly 0 BTC but can see it going to 20k in the realitive near future. I don't understand the actual use cases, except maybe digital gold. I just never know what to say when people like my wealthy father, who opened a Robinhood account to literally gamble, tells me he's trying to get one full "share" of Bitcoin. Most I'd say, you're better off with eth or link and you don't own your cryptos in Robinhood, but he does what he wants

Here’s what happens next: many miners unplug because mining is less profitable. The hash rate slows, the network clogs, Alts start looking good. Money flows to alts, Bitcoin price dips. Congestion is relieved on Bitcoin as the hashrate rises and alts relieve some of the overspill. The golden bull runs again, both in Bitcoin and the key alts.

>>18971292
maybe but we got about 50 years to think about this problem and a 100 till bitcoin supply runs out

>>18971509
I know that, but you should know what I mean. It will eventually be deflationary, and thats the point. A max cap is dumb. It really doesnt matter if it is 120 years from now or whatever. It will be priced in the moment people figure out its not substainable. Nobody want to invest in a dying system, and for every block reward halvening, the system gets worse. As said by an anon earlier here, the negative security implications will start to show in the next 1-2 halvenings.

>>18971509
you don't call assets inflationary when demand grows faster than supply

I am selling on the next ATH for BTC. 60K is my shift from BTC to ETH and XTZ

>>18971552
that is also correct. Inflation has to do with supply/demand, not new coins being minted. Thats why there is low inflation in the US dollar right now, even when they are printing trillions. I think its that anon that really dont know anything about economics, like most bitcoin maximalists.

>>18971548
>It will eventually be deflationary
So are precious metals.
>for every block reward halvening, the system gets worse. As said by an anon earlier here, the negative security implications will start to show in the next 1-2 halvenings.
I couldn't find which post you were talking about, but it's probably got to do with the amount of miners getting less and less as the reward drops. I don't think that will happen.
Profitability is imperative for the miners (who own every new Bitcoin mined, incidentally), and the price will be positively affected as a result. If the profitability is there, so will the miners.

And if you think otherwise, here's an idea: If the difficulty is set to very low points after block rewards are completed, it can work as a de-facto PoS coin where running Bitcoin Core is enough to mine new blocks. The chain and the transactions would go on with lots and lots more "miners".

>>18971161
As I said, Daily reminder '17+ fags opinions are worthless.
Keep arguing with the market, let those pesky bitcoin maximalist live in your head rent free.
>MUH BTC will fall from grace in moment
Imagine not buying the coin that controls the whole market.

Tell me what shitcoins your holding Anon, I want a laugh. Guessing you hate/don't know what cryptocurrency is.

>>18971518
there is 1? more halving after this, or 2
wakeandbake.gif
>>18971526
so you explained it in more detail

>>18971074
This. Anybody that bought BTC above 2k is kill.

>>18971552
>>18971574
I'm not a maximalist and you anons have been talking about monetary inflation all this time, don't try to turn this into price inflation, which doesn't exist in precious metals either.

>>18971704
agree the value of fiat currency is down

>>18970957
THIS IS THE STATE OF BIZ KNOWLEDGE ON CRYPTO LOL

>>18971642
no block rewards will promote selfish minig and undercutting. Small miners will get oushed out and this is also bearish for decentralization puposes. Eventually more expenive mining equipment than ASICS will come out, and only the big rich miners will be able to afford it, leading to further centralization. Bitcoin will lean to more centralization over time, as most systems, which is bearish as that is the only current advantage of bitcoin.

But it wont work as de-facto POS like you suggest. The price would have collapsed a hundred more times before that, which will kill bitcoin. Transaction fees would have to be skyhigh for them to be profitable without block rewards, and people would use off chain solutions to escpae transaction fees, which will further decrease miners revenue. It could perhaps work it there was millions of transcation that could pay small fees, but there is no good tech solution for this, and there probably never will be until it´s too late.

Precious metals have a totally different deflationary model, than that bitcoin will have.

>>18971661
https://www.bitcoinblockhalf.com/

>>18971757
You're assuming that it will take the same amount of energy to mine blocks, say, 50 years later. The efficiency for mining will increase as the technology develops.

Also, regular users who are running Bitcoin Core now are not doing it for fees anyway, think of low-difficulty mining as a side feature of the current application. There is no reason for mining to be profitable if there is no new Bitcoin to be mined. People would run it the same reason why they are running Bitcoin Core now.

>>18970943
The halving.
Let's say BTC price is $9600 at the end of the countdown, then automatically 1 BTC = $4800 (half of its price).

>>18970943

An epic crash back to $3k

>>18970931

No one fucking cares.

BTC/USDT is not affected by any halving or any other technical nonsense.

Memes traded for menes

>>18970957
kek

priced in

>>18971765
>>18971661< correcting this
so 12 then

>>18971325

Or, it becomes the single most valuable asset in human history.

The truth is, no one is sure, but in terms of risk/reward if you are not completely retarded and avoid going "all in" then its well worth putting money into without destroying yourself.
Those with even a small investment will do very very well for themselves and be comfy af.

And yes, you also might be right.

Nobody knows.

I've been warning /biz/ for about a week to get out of the BTC scam and go into BCH. (See e. g. >>18955906 and >>18928234.) I hope some of you listened to me before it was too late. The ship is sinking.

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

https://www.youtube.com/watch?v=UYHFrf5ci_g

https://medium.com/scalar-capital/the-bitcoin-cash-story-e55b277491f9

https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43

https://medium.com/@jonaldfyookball/12-reasons-bitcoin-cash-is-the-real-bitcoin-8d5547988374

https://medium.com/@johnblocke/r-bitcoin-censorship-revisited-58d5b1bdcd64

https://txstreet.com/beta

>>18971736
jesus christ

>>18970943
A new generation of bagholders are created

>>18972120
>tfw shills are out of arguments against bitcoin so they shill bch to steal it's momentum

>>18970957
Based

>>18972308

BTC is a house of cards propped up by lies, censorship, and Youtube moonboys.

Reminder that majority of /biz/ thinks it'll dump.
Another reminder that /biz/ is ALWAYS wrong. Stay comfy and HODL bros.

It amazes me that during the last halvings, hash power barely went down. You'd think it would put many miners out of fucking buisness. What do they hedge with?

>>18971198
>what is difficulty adjustment

>>18972060
What is a "small investment?"

>>18971057
>>18971173

Just as a warning to those who are still in the market, the exit-window for BTC is extremely small--only 3 transactions per second world-wide. If only 10% of other BTC speculators need to get out, your transaction will be blocked by 16 days worth of blocks piling up as your money is lost and the price crashes to nothing.

>>18970950

Uh oh

>>18970957
Why did this post make me laugh so much I started crying. I love you guys /biz/.

>>18971295
Coronavirus happened, third halving it was a massive dump.

The block reward for miners is halving. So unless the price doubles, bitcoin miners will be earning 1/2 the rewards for the same amount of work. And mining profit margins are already paper thin. This is a do or die moment, either the price jumps and miners keep going, or its abandoned because its literally not profitable. People arent going to pay money to mine.

>>18973247
Just stop, you can EASILY exit to stable coins.

>>18973639
So many mining ops launched recently even with the halvening right around the corner

>>18971087
Why would a miner continue to operate when their pay is essentially getting cut in half? Especially when they already operate on a 5% profit margin

>>18973698
You cant make money. even a 10k dollar miner can make at most a couple bucks a week. The ROI on mining just isn't there. Now is THE WORST time to start mining

>>18973778
>>18973714
You think CIA agents in Iran who have secret Bitcoin mines and are mining FOR FREE care about halving? They're already paying $0 for electricity.

>>18973815
Oh man here it is, the idiots who don't realize that blockchain make everything transparent. Why would the CIA use bitcoin that uses a PUBLICLY AVAILABLE, IMMUTABLE LEDGER. Fuck off faggot, you know not of which you speak. The CIA traffics children and drugs.

>>18972644
Big variance in mining difficulty is not a good thing to have in the cockchain. It´s bearish

>>18973815
you just brought up another bearish thing about bitcoin. The fact that you can steal or get free electricity to be in profit, is a BAD thing. Bearish. In the end people that get free or close to free electricity will be the onoly ones mining bitcoin as new tech comes out.

>>18973907
>and that's a bad thing

>>18970943
All niggers and muslims drop dead