BITCOIN

Gigastrength
Gigastrength

9 hours till halving...

All urls found in this thread:
http://www.bitcoinblockhalf.com/
http://coinmarketcap.com/currencies/
http://www.forbes.com/sites/laurashin/2016/05/24/bitcoin-production-will-drop-by-half-in-july-how-will-that-affect-the-price/#1072d83699e1
https://www.youtube.com/watch?v=ovXOZjxFB00
https://whaleclub.co/join/CiCCMS
Deadlyinx
Deadlyinx

@Gigastrength
zzz

Techpill
Techpill

time to sell. down go down with the ship

TreeEater
TreeEater

@Gigastrength
halvin should increase the value right? no big ass whale miners will see that they can't mine anymore so they sell everything and the btc will collapse like dickbutthurt nigz nugz.

GL GG -(whatever the kids type these days)

Carnalpleasure
Carnalpleasure

@Techpill
if she drops im gonna accumulate like a muthafucker

Sharpcharm
Sharpcharm

@TreeEater
halving should increase the value right?

the community is divided on what will happen to the price, some same itll increase, some say itll drop, all we really know is that the last time this happened there was basically no change whatsoever. also hes called the stig.

girlDog
girlDog

Miners mine about two million dollars worth a day, while total traded volume is over one hundred million dollars.

I don't know if their ASIC chips will be better off doing something else or not for half the amount of bitcoins.

I used to think a lot would happen around now, but I don't anymore.

viagrandad
viagrandad

@girlDog
I dont think we'll see a big bubble. Probably a steady increase to $900 or so by the year end

iluvmen
iluvmen

@girlDog
i didnt know that... if those stats are real then that changes my whole point of view

Fuzzy_Logic
Fuzzy_Logic

@iluvmen
What was your earlier view?

But the amount generated is a known number
http://www.bitcoinblockhalf.com/
the amount of liquidity is known as well
http://coinmarketcap.com/currencies/

Nojokur
Nojokur

@Fuzzy_Logic
my earlier view was that the halving of the reward would drive alot of miners out of business (which it will) and that since they have a large influence over the currency it would send prices soaring or plummeting because of there leaving. but now i kinda think there will just be heavy volatility until it settles at a reasonable price

Raving_Cute
Raving_Cute

@Nojokur
You got to look at what the cost to mine is.
Much of the mining happens in industrial areas of China and Russia. Consider their expenses

computer parts
fixed, they've already bought them
rent
variable, very cheap
electricity
variable, extremely cheap and often 'free'

They use ASIC chips, so they aren't moving to ethereum. Some could go to litecoin, but I don't think many will. For the most part mining will become less profitable, but it will still be profitable and they will keep doing it.

If you look at BTC distribution, the top few percent hold the majority of it. I think it's like diamonds where the producers control the supply to keep prices high. I don't think much will change.

Nude_Bikergirl
Nude_Bikergirl

they don't realize this will crash the market

Garbage Can Lid
Garbage Can Lid

@Raving_Cute
im talking about the american, british, australian- general western parts of the world and alot of developing parts of the world where costs are very high. alot of people will go out of business without a doubt. there are several articles citing this http://www.forbes.com/sites/laurashin/2016/05/24/bitcoin-production-will-drop-by-half-in-july-how-will-that-affect-the-price/#1072d83699e1

Booteefool
Booteefool

@Garbage Can Lid
energy costs that is

TreeEater
TreeEater

@girlDog
if miners do not mine, there will be no trading.

The intent was the difference between the mining reward after halving would be made up with fees. Good luck with that.

Emberburn
Emberburn

@Techpill
@Carnalpleasure
Bought before and will buy after to cover all my bases.
I think if it were to dump it would be happening now.

Flameblow
Flameblow

@TreeEater
The intent was the difference between the mining reward after halving would be made up with fees. Good luck with that.

This is why primecoin / xpm is a cool concept. Mining difficulty is tied to demand and there is no upper limit to coins produced. Arguments could be made for or against, but it's a controlled release unlike QE.

kizzmybutt
kizzmybutt

Placing my bets:

Perhaps a small dip in the hours after halving, then some kind of rise as the hours, days pass and people realise the halving didn't break the network.

Don't think moontime will come until some second layer solutions are deployed and Bitcoin can really scale as a payment network.

@TreeEater
The intent was the difference between the mining reward after halving would be made up with fees. Good luck with that.
Lolno. The intent is that any miners who cannot afford to mine will go out of business. The current amount of hashpower is fairly arbitrary.

Growth in value of the network also keeps the mining reward high. And that has happened. Price doubled pretty much the last month. Assuming the network continues to grow at atleast the rate of doubling every four years, everything is fine. Fees are only relevant in the span of decades, or if growth stagnates for many years.

And Bitcoin would happily survive even with a lot less miners. The only actualy *risk*, is if a whole bunch of miners turn off their machines at once, which is extremely unlikely.

Techpill
Techpill

there's a live stream of the halving up here

https://www.youtube.com/watch?v=ovXOZjxFB00

Flameblow
Flameblow

@Techpill
almost 300 retards are watching this

SniperWish
SniperWish

@Flameblow

why wouldn't they? it's history in the making

WebTool
WebTool

There is so much undue hype on here and the bitcoin reddit right now, I am salivating thinking of your faces once the whales begin the dumpening.

FastChef
FastChef

Would it be a wise idea to put $100 worth in if it drops?
Never fucked with this before.

Nojokur
Nojokur

@SniperWish
Dummy nocoiners don't get the importnace of this event. Just lol at the fact that their kids will kill each other working for some Bitcoin.

Dreamworx
Dreamworx

Four blocks left...

Fried_Sushi
Fried_Sushi

@FastChef
Buying dips on Bitcoin? noo, just don't, stay poor like the rest of nocoiners in denial.

Evil_kitten
Evil_kitten

@Nojokur
I'm not a nocoiner.

Checkmate.

takes2long
takes2long

@FastChef

$100 buys you not even 1/6th of a bitcoin, but it buys you over 10 Ether - ez choice imo

btc price goes up $100, you make $15

eth price goes up $100, you make $1,000+

Bidwell
Bidwell

@takes2long
im talking after the drop that's about to happen

lostmypassword
lostmypassword

HAPPY HALVING!

Playboyize
Playboyize

It happened guys

Gigastrength
Gigastrength

Is it gonna tank now?

Methshot
Methshot

@Gigastrength
looks like the opposite

Methnerd
Methnerd

@Gigastrength
$1 bitcoins here we come

PackManBrainlure
PackManBrainlure

@Gigastrength
Yay now I make half as much money ;_;

Carnalpleasure
Carnalpleasure

literally nothing is happening

Emberburn
Emberburn

IT'S FUCKING TANKING

SELL SELL SELL

Emberfire
Emberfire

@Snarelure
@Carnalpleasure

$661 to $605 and back up to $640 in the last 40 minutes.

literally

Evilember
Evilember

@Carnalpleasure
It's gone down 20$ on C-CEX.com from 657$ to 636$

Flameblow
Flameblow

@Emberfire
$605
no the fuck it didn't

TalkBomber
TalkBomber

@Carnalpleasure
What did you expect ? It just happened

SniperWish
SniperWish

i cant see the change on polo, kraken or coindesk

WebTool
WebTool

@SniperWish
Shows up on coindesk for me

TurtleCat
TurtleCat

a muted decline is the worst case scenario for buttcoin

everyone going "meh" is not good

StonedTime
StonedTime

So how much bitcoin as a percentage of my assets should I own?

CouchChiller
CouchChiller

@StonedTime
3 bits

DeathDog
DeathDog

@CouchChiller
byte me

BinaryMan
BinaryMan

@kizzmybutt
Perhaps a small dip in the hours after halving
I was right about that.

Now we have to expel all that halving hype.

@StonedTime
90% here :^)

GoogleCat
GoogleCat

price is slowly dipping

shit bois i about to do it

Illusionz
Illusionz

@TreeEater
Look at the chart. Price has more than doubled since late last year, the point where irrational exuberance ran out was in the 700s. The halvening is priced in. Further increases will come from increased demand.

girlDog
girlDog

the halving is built into the price, don't waste your time caring

SomethingNew
SomethingNew

@girlDog
fuck off kys

Methshot
Methshot

Hey dudes, happy halving, are you a bad enough dude to hold your coins til the next halving in 2020?

Skullbone
Skullbone

Price is crashing btc is at $637

Flameblow
Flameblow

HOLY SHIT the block reward is halfing
better sell all my coins even though im not a miner and the halfing has no effect on the number of coins i currently own
why are people retarded

SniperGod
SniperGod

@Skullbone
Thats not a crash,buy the dip

WebTool
WebTool

tfw bought btc at $620 for darknet and forgot to spend most of it before halving, now none of the markets will load, probably lost several hundo due to laziness just kill me

CouchChiller
CouchChiller

@Skullbone
Meh, it seems to have bottomed out and is even rising slightly.

@WebTool
Chillax. Or put it on an exchange and convert to dollaridoos. Or use shapeshift and convert to tether dollars

PurpleCharger
PurpleCharger

Long now. Bitcoin/usd has a lot of bullish energy left in it. Do NOT miss the obvious FOMO happening here

https://whaleclub.co/join/CiCCMS

Long there, good spreads and even 5 minutes futures if you're into that.

PackManBrainlure
PackManBrainlure

@PurpleCharger
Obviously you're profiting off this, so tell me, why should I use this site?

Sell it to me you fucking shill.

SniperWish
SniperWish

@WebTool
I wouldn't panic it's bouncing at around $640 at the moment and will no doubt go up again soon.

CouchChiller
CouchChiller

@SniperWish
r-right guys?

(buy ethereum)

Ignoramus
Ignoramus

@Gigastrength
moon rocket is a bust but my sides orbit earth now kek.
now shills have to come up with a better story.
what will be the new shill theme?

whereismyname
whereismyname

@SniperWish
and will no doubt go up again soon.
it will to some degree.
it's called a bulltrap.
some call it a dead cat bounce.

Lord_Tryzalot
Lord_Tryzalot

@whereismyname
Whales buy in. Price goes up. People dont want to miss the "moon". People buy in. Price goes more up. Whales cash out. Price drops like my mixtape. Is this essentially what a bulltrap is? Srs.

Boy_vs_Girl
Boy_vs_Girl

@Lord_Tryzalot
wishful thinking the post
it will go down for years from here on. huge dip 1-3 year long is what gonna happen.

Spamalot
Spamalot

@Ignoramus
Only idiots thought it would go up right after. But there's a lot of idiots, certainly.

The real halving spike was the last month or so.

As to the effect the reduction in supply will have, remains to be seen. But since based on true supply/demand, rather than hype, effect will be seen slowly.

Soft_member
Soft_member

@Lord_Tryzalot
what you are calling "whales" (i imagine you don't mean stupid fucks or easy marks but big holders) are not cashing out and are not what drive the price at all in any way. even without their coins and the miners coins the exchanges have enough traffic to serve the masses.

only interest and problems drive the price problems in bitcoin sphere drive them down problems in financial world drive them up.

farquit
farquit

@Lord_Tryzalot
people speculate like that but there's 0 evidence as far as i'm concerned that this is what actually happens
it seems more likely that it's just the result of a global demand for a liquid asset that doesn't have any underlying value
weird things happen because bitcoin is a weird asset

happy_sad
happy_sad

@Spamalot
As to the effect the reduction in supply will have, remains to be seen.
what redduction in supply? are you talking about the 0.3% part of the supply on exchanges dropping to 0.15% as drop in supply?

PackManBrainlure
PackManBrainlure

@girlDog
Nice meme fgt

I guess you'll be sad to the price rise next couple months

Will b thinking of you baby

Skullbone
Skullbone

@PackManBrainlure
You don't have a clue what it's going to do the next couple months. How about we start from that premise.

GoogleCat
GoogleCat

@happy_sad
Miner coins have to be sold at any price, to pay for electricity. (Over long term reaching an equilibrium of investment/electricity cost.) Price goes down, they still have to sell (in fact, even more pressure to sell). Price goes up, they can sell less, but only in the short term before other/new miners catch up.

It's not really the same as exchange "supply" which is mostly people day trading.

I'm not saying I know for sure this will have a positive effect, I said it remains to be seen. But it's not comparable to exchange supply.

New_Cliche
New_Cliche

@Flameblow

$608, my mistake. 15 minutes time frame.

whereismyname
whereismyname

@New_Cliche
Forgot Pic

Garbage Can Lid
Garbage Can Lid

@PackManBrainlure

Tournament for 10 grand right now for traders.

Also it's probably the easiest exchange to deal with regardless if I profit.

Spamalot
Spamalot

@TreeEater
that is normal fag reasoning. Demand is up and supply is down,so everyone is holding.

w8t4u
w8t4u

@Spamalot
in what way is supply down? incoming supply is down but current supply is still the same and still constantly growing.

likme
likme

@w8t4u
bitcoin supply is always up,but supply is cutting down meaning normally the price would go up,so lots of people will try to get in on it and hold.

Bidwell
Bidwell

@whereismyname
It dipped to like $626 you must be looking at the wrong chart m8

Soft_member
Soft_member

yfw nothing happened

at least we have trumpcoin making Biz bros rich, bitcoin price too priced in/high

likme
likme

Eventually when miners are only really mining for transaction fees, won't the fees to send money thru bitcoin be higher than paypal, moneygram etc - make the whole
muh cheap money sending obsolete
and destroying bitcoin??

LuckyDusty
LuckyDusty

Hi Veeky Forums, where can i hold safely my cryptocoins?
If i buy some TRUMPS, NXT and BTC in different sites, could i storage all of them in just one place?

Playboyize
Playboyize

bump

Burnblaze
Burnblaze

@Soft_member
at least we have Trumpcoin
nope.
at least we have ETH
nothing.
at least we have LISK
no.
at least we have.. SIA?
haha no.
at least..
nope, nope, and nope.

Where are all your Gods now, coiners? Out to lunch it seems.

CouchChiller
CouchChiller

@LuckyDusty
Please?

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