/biz/ - Business & Finance

Did you think it would shoot straight up?

>>19035256
the opposite actually, nigger

The hashrate is rising. The miners are trying to see how low they can keep BTC while strangling the competition. Or maybe the casino overlords at BitMex find crab markets more profitable. The important thing to remember is that BTC always does whatever will lose the most retail investors the most money. A crab market near the halving is fucking people up hard.

>>19035243
peaking takes longer after each halvening. around 2 years before we reach new ATH like 2017.

until then this is unironically your last chance to accumulate.

>>19035334
it's certainly fucking me up hard

The only immediate, direct consequence the halving could have would be through the psychological angle, because the actual effects it can bring have to be felt slowly. BTC becomes less and less susceptible to mere psychological pressure as it is more populated by corporate and seasoned companies, since those are more used to avoid those and stick to objective measurements instead.

>>19035334
>The important thing to remember is that BTC always does whatever will lose the most retail investors the most money
Finally people are starting to understand.

>>19035243
He can't keep getting away with this

>>19035243

What was your expectation? The supply of new bitcoin has slowed. Its not just going to pump the price up to a million over night.

With the halving over, any fears of a hash rate collapse or "death spiral" are gone. This feels like the bitcoin cash fork in 2017. Everyone was scared out of their mind that the fork was going to divide bitcoin hashrate, cause a death spiral, destroy both chains, etc.

Then it was a huge nothing burger and a little while later bitcoin went parabolic.

>>19035334
>le contrarian bitcoin theory

and what exactly is it that the majority of retail investors are doing? a "team of hodlers" vs "team buidlers" vs "team chan autist"? Everybody is spread across the spectrum between pump/dump and everything else. BTC is going to do whatever the fuck it wants, only once the manipulation ends. In fact, manipulation wouldn't even be possible if what you said was true.

>>19035841
the miners will keep mining until its no longer profitable. the value must go up and continue going up forever to offset the reward halvings. once there is no more rewards btc will collapse entirely.

>>19035243
Biz is a clueless board

>horrendous as a store of value
>horrendous as a currency

Did the halvening fix either fundamental problem?

>>19035958

Profitability is the block rewards - cost to mine, so as hashrate drops, the difficulty will drop, lowing the cost to mine. It will drop until its profitable again. Miners will mine the few weeks it requires to adjust the difficulty because they are invested in the network.

>the value must go up and continue going up forever to offset the reward halvings. once there is no more rewards btc will collapse entirely.

The block reward is made up of the block subsidy (creation of new coins) and transaction fees, the halving just affects the block subsidy, there will always be a block reward for miners, transaction fees just make up a higher proportion of it over time.

>>19035280
Kys bearnigger

>>19035841

Why would hashrates change? Chinese farms are running as they did before.

But the amount of rewards will be approximately halved. The question is - will farm owners unwind or continue.

All this will be evident in a month or so.

>>19036014

>the difficulty will drop

how the actual fuck? you have to find a particular kind of hash values with certain number of zeroes in front, which is what the difficulty amounts to.

you just cannot return back to less zeroes and stick it the chain lmao

>>19036273
>>19036308

The difficulty is adjusted up or down, every 2016 blocks. So what happens if profitability drops is that miners stop mining, hash rate drops, and difficulty drops to maintain the same block rate. But not mining is more profitable for the miners left. Its a self adjusting system.

>>19035379
this. 1st halving peak came within wees
2nd halving peak came 3 mos after
3rd halving was about 16 mos
this halving will be 18-24 months. dec 2021 is good benchmark.
it will be glorious once we can finally start building the free ubi housing with our money*

*=aka death camps.