/biz/ - Business & Finance

[Anonymous No.16974299]

If youre buying bitcoin because of the "halving", youre probably a retard.

Im going to explain why...

The halving is when after a certain block, due sometime mid may 2020, bitcoin miners will begin to receive 50% less bitcoin rewards for mining blocks of the bitcoin blockchain. Currently bitcoin miners receive 12.5 btc per block mined, after the halving theyll receive 6.25 btc per block mined.

[Anonymous No.16974312]

As I see it, there are 3 possible reasons someone would think lower btc rewards will translate to a higher bitcoin price:
1 >every other halving it the price went up
This idea is obviously lacking any semblance of critical analysis. There have been 2 prior bitcoin halvings, around which time, the bitcoin price has gone up both times. True. But our sample size is 2. Thats like saying you flipped a coin, and both times it landed on heads, therefore the coin will always land on heads when you flip it. These are people who dont really discuss things, they just kind of do what everyone else is doing. They dont need to think critically, they have others who do it for them. They hear halving = good, look at a chart, and thats it, their decision is made. Halving = good.
2 >reduction in supply/miners wont be dumping on the market
These people are worse than the first group, because unlike our ignorant friends in example number one, these guys have done some research on what the halving is. They probably understand what mining blocks is, they understand the history of bitcoin, why it was made, and what it does. What they fail to recognize is that they have 0 understanding of any economic principles outside of the phrase “supply and demand”. Their justification for buying bitcoin pre halving is that since less bitcoin will be entering the market via miners, and therefore bitcoins are becoming increasingly rare. These people are known to be trying to accumulate 21 btc. Proclaiming there will only ever be 21 million bitcoins, and anyone with 1/100kth of the world money supply will be ushered into the ranks of the future global elite.

[Anonymous No.16974320]

3 >everyone else is retarded and I will ride the wave
This is the lone bitcoin halvingist mentality that doesnt qualify you as a retard. The idea here is that there are enough idiots in this world who will get dumped on by the people who are currently holding bitcoin, because they heard about bitcoin in the news, or on facebook, or reddti, and bought the absolute top (which is being orchestrated to be around the time of the halving for maximum deception), circa dec 2017. So there is an opportunity to ride the wave up, with the current btc elite, and try to time the top of the market so you can exit and not be left holding this worthless shitcoin with all the normies.

[Anonymous No.16974336]

>but bitcoin is like digital gold, its a store of value
Youre a retard. Gold was used for money because it was rare, easily transferable, easily mintable into coinage, and didnt lose volume when melted into said coinage. Silver also has these properties. Aside from these two metals, there arent many that hold the same balance of scarcity and fungibility. So why doesnt bitcoin have those properties? Well, it does. You can trade 100millionths of a bitcoin, its a finite supply, and it cant be transferred to anyone with a computer. Great. Same goes for litecoin, same goes for xrp, same goes for dogecoin, same goes for literally anyerc-20 you want to make that has these same properties. Bitcoins wont be valuable because they dont add any inherent value. The idea of a blockchain, a distributed immuatable ledger that creates digital scarcity, was undoubtedly genius, and it will change the world as we know it. Bitcoin was the first, and is the most well known use of this genius invention to date, but were just getting started. If you think money = value, you will be burned and left bag holding. The only real function of money is that its a medium of an exchange. Its a way to translate one thing of value, into another thing of value. The money itself is not the value. Blockchains will create unprecedented value in our world, in places and ways we never imagined possible prior to this genius invention, but dont be left bagholding because you thought “money” was where the value is.

[Anonymous No.16974340]

>>16974299
I stop reading once I read the word "retard" in a post. Not because I'm some sort of PC shill but because it's literally always an appeal to emotion and never substantive reasoning. Gonna to buy the dip now.

[Anonymous No.16974351]

This thread gave me a great idea. Buying BTC before a halving is guaranteed returns because supply goes down.

[Anonymous No.16974352]

>Autism the thread
Leave your house faggot

[Anonymous No.16974359]

I think it's going to be a "Buy the rumor, sell the news" event, it's going to probably mirror the LTC halvening event where it pumped before the halvening and then it dumped hard right after.

Long term though, the halvening is going to be bullish. The miners need for mining Bitcoin to be profitable, and BTC will need to find a price that keeps it profitable for them. They are also some of the biggest whales out there and can make it happen. It's either going to find a higher price to keep BTC mining profitable, or it's going to collapse entirely. I think scenario 1 is more likely.

[Anonymous No.16974366]

>>16974299
>>16974312
>>16974320
>>16974336
OP go back and read some archives before the 2017 bull run. Fuck we are close. I mean we are REALLY close. This post is 2015/2016 levels of bullish. its coming boys

[Anonymous No.16974382]

>>16974352
>Autism the thread
Unapologetically

[Anonymous No.16974386]

>>16974340
yeah op is sperging out here the reason behind new coin supply halving resulting in either higher prices (low being double than previous low at least probably more due to hashrate ath) or bitcoin going to a death spiral are the only two scenarios worth considering.

if bitcoin survives the halving it's only a matter of time it goes into an other bull. there is no way around that. human psychology.

it is also very likely we will see a pre halving pump and a post halving dump that will rekt a lot of retards. those that bought the previous dip sub $5k will be completely fine.

[Anonymous No.16974432]

>>16974312
1/1mil not 100k fucktard. Jesus Christ... can’t even claim that as a typo.

[Anonymous No.16974433]

kek

[Anonymous No.16974471]

>>16974336
without a cryptocurrency to guarantee blockchain immutability, blockchain has no value since it can be altered by anyone. bitcoin is currently and by far the most successful way to reach consensus, using a blockchain and coins, which allows to run a financial system without having to trust anyone in particular.
I really think I shouldn't post this to such a faggot, but I'll do it for brave newfags

[Anonymous No.16974473]

>>16974432
all the money on earth going into btc would mean around $10 billion a coin.

[Anonymous No.16974496]

>>16974432
>>16974433
>1/1mil not 100k fucktard.
Eh, whats the difference? I have 250 eth, 5k link, and 15k omg. I already made it. Im just trying to help some anons who are spending their friday night on /biz/, like ive done almost every friday for the past 3 years.

[Anonymous No.16974505]

I have 2.5 BTC, 128 ETH, and 3142 LINK, is it enough to make it in 5 years?

[Anonymous No.16974517]

>>16974496
The difference is you’re trying to sound smart but you can’t do basic math

[Anonymous No.16974532]

>>16974517
>knowing the number of bitcoin decimals is math

[Anonymous No.16974599]

>>16974496

this nigga bagholding OMG and trying to sound intelligent, kek

[Anonymous No.16974617]

I think bitcoin will go on a bull run in 2021, but it won't be the same as the last bull run, meaning we won't see similar massive gains like in 2017.

[Anonymous No.16974626]

>>16974532
Dude... just stop

[Anonymous No.16974645]

>>16974599
>bagholding OMG
kek, well see

[Anonymous No.16974684]

>>16974626
>trying to shame someone into silence on an anonymous image board
Your 3 posts have been: correcting me on the number of bitcoin decimals, saying i cant do math because of that error, and "dude just stop". Real insightful there bud.

[Anonymous No.16974718]

>>16974684
Bitcoin has 8 decimal places, and that has nothing to do with 21/21,000,000 , a simple math problem. Like I said man just stop, you’re embarrassing yourself.

[Anonymous No.16974744]

bitcoin was like under $500 when it halved to 12.5
looks like we have more security at $8,300 even if it halves to 6.25 tomorrow

nobody knows what will happen in 2028 2032 etc. but bitcoin is growing exponentially and on track to maintain security through transaction fees

[Anonymous No.16974843]

>>16974718
Eh, youre right. 1/1millionth of the supply, regardless. Irrelevant to the point of my post.

[Anonymous No.16975017]

>>16974299
please return to /b/

[Anonymous No.16975027]

>>16975017
please return to /mlp/

[Anonymous No.16975116]

>>16974645
AHHHHHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHA

bro you're a fucking moron LMFAO imagine holding a chink pump and dump in the year 2020 wew lad

call me a fudding migger i dare you

[Anonymous No.16975189]

>>16975116
>chink pump and dump
Very convincing, might sell now, hadnt heard this before

[Anonymous No.16975200]

>>16975189
what are your realistic price predictions for OMG should it succeed with plasma? Also, what do you think that the whole apple logo fiasco?

[Anonymous No.16975209]

>>16974340
Yeah I’m thinking this is based

[Anonymous No.16975230]

>>16975189
Jun has made more money off of a skateboard than Tony fucking Hawk

[Anonymous No.16975308]

>>16975200
>what are your realistic price predictions for OMG should it succeed with plasma?
~ $120 by 2022
>Also, what do you think that the whole apple logo fiasco?
Theyre utterly incompetant when it comes to marketing. Its like theyre trying to sell their product while simultaneously putting their customers on NDAs. Just look at the whole CP Group "fake news" debacle. I think a partnership with Apple is overly optimistic with not enough evidence to support it.
But look into securitze, their relation to buidl (again, awful marketing). I think SE asia will lead the way for blockchain adoption given their usage of apps like alipay, line, paynow, etc. I think japan, singapore, thailand, vietnam will see the quickest blockchain adoption and this will give the omg network first mover advantage for defi payments processing. Also look into UPT (universal protocol token), i think theyre trying to be fully compliant, which can be seen as a positive or a negative. But theyre working with uphold, brave, bittrex, all of which are well known players in the space. Uphold put out a tweet last week you should look at too.
https://twitter.com/UpholdInc/status/1217846607925993481

[Anonymous No.16975331]

>>16974532
Oof. Failure to math 2x in a row. NGMI.

[Anonymous No.16975366]

>>16975331
>You can trade 100millionths of a bitcoin
Nah, failure to comprehend. I thought he was talking about
>You can trade 100millionths of a bitcoin
I forgot what i typed, because whether 21 btc is .0001% or .001% of total supply, or how much a satoshi is is completely irrelevant to me.

[Anonymous No.16975375]

>>16975331
Nah, failure to comprehend. I thought he was talking about
>You can trade 100millionths of a bitcoin
I forgot what i typed, because whether 21 btc is .0001% or .001% of total supply, or how much a satoshi is is completely irrelevant to me.

[Anonymous No.16975801]

you're delusional m8

[Anonymous No.16975839]

>>16974299
>demand is the same 10 minutes after the halving as it is 10 minutes before the halving
>supply is halved
>demand stays the same
???
OP I think you're the retarded one.

[Anonymous No.16975853]

>>16975839
This. OP is literally fucking retarded and a faggot.

[Anonymous No.16975886]

>demand remains constant
>incremental supply cut in half

really makes you wonder what price will do

[Anonymous No.16975921]

bitcoin is going to dip for the first month following the halving and people like OP are going to come out of the woodwork shouting their prophecies came true

[Anonymous No.16975936]

>>16974299
After all of this you probably still have a bag and eagerly await the halving

[Anonymous No.16975937]

Didn’t read faggot, way too long

[Anonymous No.16976209]

>>16974336
Just try buying some gold and seeing what a fuck around storing it, selling it, transporting it etc. Is compared to bitcoin.

[Anonymous No.16976387]

>>16974336
>The only real function of money is that its a medium of an exchange. Its a way to translate one thing of value, into another thing of value. The money itself is not the value.
based
money is itself slowly becoming obsolete with the introduction of blockchain. If everything is tokenized, and everything has a market, then barter on a global scale becomes the most efficient way to transact. Arbitrage bots can price everything in terms of everything.
I'm under no illusions that's going to happen any day soon.

[Anonymous No.16976413]

>>16974645
plasma is obsolete anon. The new thing is zk-rollup.
https://medium.com/matter-labs/introducing-zk-sync-the-missing-link-to-mass-adoption-of-ethereum-14c9cea83f58
It's better than plasma in literally every possible way.
Omg is worthless. To be fair, almost everything on cmc is worthless, yet people buy it, so who knows what's the price going to be in a year.

[Anonymous No.16976481]

Should I sell my Bitcoin for XRP?

[Anonymous No.16976553]

>>16974299
I never say this, so simplistically like the low-octane nitwit NPC posters like to do. But I can’t think of anything else meaningful to say you to besides this.

God. Damn. You are a fucking retard.

Go lift some heavy weights, take a nice walk, and come back when you’ve grown some hair on your chest and thought hard about the bad, bad post you made. Until then, no tendies for you.

[Anonymous No.16976559]

>>16974359
>The miners need for mining Bitcoin to be profitable, and BTC will need to find a price that keeps it profitable for them.
>Businesses issuing shares need to be profitable, so the market will need to find a price that keeps it profitable for them
You are assuming there is a universal law that says "mining bitcoin must be profitable". There isn't. Whales can try to manipulate the price to maintain profitability, but that can only work for so long. If whales are unable to manipulate the price, and miners are not profitable, the death spiral hypothesis comes into play.
>>16974471
Except you can't run a financial system on Bitcoin. That's what Ethereum is for.

[Anonymous No.16976566]

>>16974299
>>16974312
>>16974320
>>16974336
>DDDDDUUUHHHHHHHHHHH IM A WETARD!
ok we get it op, kek

[Anonymous No.16976567]

>>16974312
What's wrong with wax cartridges, they're way more convenient than bud

[Anonymous No.16976934]

>>16974299
Thanks for sharing the reasons why BTC will go up after the halving. I'm going all in now and will dump as soon as it hits the 300k
We're all gonna make it

[Anonymous No.16976978]

So many anons talking about the halving like thats when we reach new ath. Look at the charts. The bullrun if it comes will be at least 2 years AFTER the halving. So many gonna be disapointed this year, and most of next year too. Patience anons

[Anonymous No.16977067]

>>16974299
>8 May
>mid May
You have failed to master this brief and we shall no longer require your service; you’re fired

[Anonymous No.16977354]

Fuck that shitcoin anyways, I'm comfy holding my unibright while it's getting adapted by companies.

[Anonymous No.16977415]

>>16974336
>The only real function of money is that its a medium of an exchange. Its a way to translate one thing of value, into another thing of value
This is why I’m all in on the best functioning cryptocurrency that exists, XRP. Nothing functions better.

[Anonymous No.16977436]

>>16974299
Holy shit, this post is bullish as fuck. All the normies think BTC is a scam again, fake fud is flowing around, this feels like 2016 all over again.

[Anonymous No.16977500]

>>16974340
safespace reddit fag detected

[Anonymous No.16977546]

>>16976567
Your father hates you.

[Anonymous No.16977590]

>>16974299
>>16974312
>>16974320
>>16974336
>>16974382
>>16974496
>>16974532
>>16974645
>>16974684
>>16974843
>>16975189
>>16975308
>>16975375
cope

[Anonymous No.16977593]

>>16974299
12K end of February

[Anonymous No.16977975]

GAY THREAD
A
Y

[Anonymous No.16978023]

>>16974312
>2
Bitcoins price is solely determined by supply and demand, the equilibrium between sellers and buyers.
After the halvning, there will obviously be a reduction of the sellers, due to miners selling less bitcoin.
It may not have a major effect on the price, perhaps the decreased amount of sellers will be minuscule relative to the overall amount of sellers.
But it is still reasonable to expect a price increase, especially because previous halvning's have demonstrated this (yeah, empirical evidence have some merits).

[Anonymous No.16978028]

>>16974496
>15k omg
but why?

[Anonymous No.16978031]

>>16978023
that's true if you have a real demand for bitcoin, but so far bitcoin is only used for speculation , there is no actual mass adoption, even if supply decrease there are no increased demand, this halving won't be the same, bear market will in 2023, bottom around 2400 , screen cap this

[Anonymous No.16978040]

>>16974351
supply doesn't go down because of halving retard
only the mining reward goes down

[Anonymous No.16978045]

>>16974312
> 1 every other halving it the price went up This idea is obviously lacking any semblance of critical analysis. There have been 2 prior bitcoin halvings, around which time, the bitcoin price has gone up both times. True. But our sample size is 2. Thats like saying you flipped a coin, and both times it landed on heads, therefore the coin will always land on heads when you flip it. These are people who dont really discuss things, they just kind of do what everyone else is doing. They dont need to think critically, they have others who do it for them. They hear halving = good, look at a chart, and thats it, their decision is made. Halving = good.

Wrong the sample size is not 2 , it's a decade of charts , the block reward decreased in sats but increased in fiat after every halving.

https://bitcoinvisuals.com/chain-block-reward

>2 reduction in supply/miners wont be dumping on the market
These people are worse than the first group, because unlike our ignorant friends in example number one, these guys have done some research on what the halving is. They probably understand what mining blocks is, they understand the history of bitcoin, why it was made, and what it does. What they fail to recognize is that they have 0 understanding of any economic principles outside of the phrase “supply and demand”. Their justification for buying bitcoin pre halving is that since less bitcoin will be entering the market via miners, and therefore bitcoins are becoming increasingly rare. These people are known to be trying to accumulate 21 btc. Proclaiming there will only ever be 21 million bitcoins, and anyone with 1/100kth of the world money supply will be ushered into the ranks of the future global elite.

A decrease in supply equals a decrease in inflation if demand stays the same the price goes up , it's an universal law.

>>/biz/thread/S1214767#p1217266

>>/biz/thread/S1214767#p1217225

[Anonymous No.16978055]

>>16974320
>3 everyone else is retarded and I will ride the wave
This is the lone bitcoin halvingist mentality that doesnt qualify you as a retard. The idea here is that there are enough idiots in this world who will get dumped on by the people who are currently holding bitcoin, because they heard about bitcoin in the news, or on facebook, or reddti, and bought the absolute top (which is being orchestrated to be around the time of the halving for maximum deception), circa dec 2017. So there is an opportunity to ride the wave up, with the current btc elite, and try to time the top of the market so you can exit and not be left holding this worthless shitcoin with all the normies.

It's clear you are not using this for payments , all it needs to happen is for demand to stay the same for btc to go up and it does not need to be speculative demand.

Bitcoin is used for international wires

for example let´s say that britbongistan ask loisences to send money.

So you do

100 GBP > 1 BTC > 90 USD

notices the last part 1 BTC > 90 USD

When you do that movement you sell the btc to someone doing the same in reverse.
So there is a constant demand of scarce btc to do international transactions.

After the halving the ammount of btc created per year is reduced by half.

So now you do

100 GBP > 0.5 BTC > 90 USD

all that changed is that you now use less btc for the same transaction due to them being rarer.

SAME DEMAND = LESS SUPPLY LEADS TO HIGHER PRICE

>>/biz/thread/S1214767#p1217266

[Anonymous No.16978059]

>>16978045
You do realize more than 18m of bitcoins have already been mined right?
next halving will have no strong impact on the circulation supply of bitcoin
2017 bullrun was literally a one-time event that will never happen again

[Anonymous No.16978073]

>>16974336
>Youre a retard. Gold was used for money because it was rare

Gold was used for money not because it was rare , it was that rarity that caused it to have low inflation same reason as btc.
Miners are the only ones forced to sell their gold(they live doing that and have to eat) , crypto miners are the only ones forced to sell btc(they live doing that and need to pay electricity).

Gold inflation worldwide is probably 2% , btc inflation will be 1.80% in 100 days.

> The only real function of money is that its a medium of an exchange. Its a way to translate one thing of value, into another thing of value. The money itself is not the value. Blockchains will create unprecedented value in our world, in places and ways we never imagined possible prior to this genius invention, but dont be left bagholding because you thought “money” was where the value is.

The preservation of value is another function of money , one that gold did historically well because due to it's natural low inflation it was not able to be inflated by politicians.

Cryptos with scarcity based game theory are doing the same artificially.

[Anonymous No.16978083]

>>16978059
>One time event

>>/biz/thread/S1214767#p1216822

Miners are the only ones forced to sell and represent the base monetary supply, this halving will cause the same as 2017 but even stronger because bitcoin inflation will go bellow fiat currencies inflation.

What do you think will happen when bitcoin inflation is lower than the currencies it's value is meassured?

[Anonymous No.16978088]

I studied bitcoin since the moment the whitepaper was published. Didnt dare touch it below $500 I can be honest about that. Just because we did not have the critical amount of people buying/holding. I have been buying since $500 tho. Even at 19k I bought. I will continue buying up to 30k for sure. My ROI is insane. I can quit my job but I dont since I enjoy it. I also dont spend money like a degen. I have a house, an old car, some hobbies and a gym membership thats it. I genuinely believe BTC will be above 250k if my model is ok. Which it prob is.just my 2 cents

[Anonymous No.16978093]

>>16975839
>>16975853
>miners sell a certain percentage of their mined bitcoins every month as financial income
>after the halvening, their mining rewards drop
>in order the sustain their financial income, they are now forced sell part of their stack in addition to their newly mined coins
>less coins are mined, but more coins (percentage of all previously mined coins) are on the market for sale
>price drops

Expecting prices to rise after the halvening is naive.

[Anonymous No.16978115]

>>16974340
Based and logicpilled

[Anonymous No.16978121]

>>16978093
less coins are mined :D :D
You surely have not read bitcoin whitepaper. I understand, it's out only few years....

[Anonymous No.16978125]

>>16976553
So no argument?

[Anonymous No.16978149]

>>16978121
Jesus, yes that was a brainfart on my end.

What my argument was supposed to be is that in order to sustain their financial income, they have to sell more coins from their stack in addition to mined coins, hence more coins hit the market than before.

[Anonymous No.16978190]

>>16978093
>in order the sustain their financial income, they are now forced sell part of their stack in addition to their newly mined coins

You are getting the game theory wrong anon , they won't sell their stack , they are business , business owners don't sell their personal reserves to sustain a losing branch.
The interesting thing is that all miners are suffering the same and they know it so it leads to some interesting game theory.

1_All the miners have a reduction of 50% of their income in bitcoin.
2_Their electric costs remain the same.
3_They now earn 50% less
4_They refuse to sell at this price because they know everyone else doing mining is under the same situation.
5_Price starts to go up due to lack of supply in the market.
6_Eventually price does 50% increase and miners could be in the green again.
7_Speculation starts at what will the top price be.
8_Miners still refuse to sell because it could go up even higher.
9_Miners having different electric costs all have different breakeven price.
10_Price keeps going up as news spawn all over the world.
11_A bubble starts to form
12_Some miners start to sell to pay electricity
13_Bubble becomes insanely big
14_All miners start to sell.
15_Fees become massive
16_Bubble explodes
17_Price collapses 83%.
18_The new bottom where everyone tells bitcoin is dead is literally so big that years before it would have been considered insanely high and that it would never happen.
19_Bitcoin starts to grow again in the next halving.

I love halving theories , i will be back in some hours after wagecucking i hope this thread us still up.
BTW this time the bubble won't be 83% collapse , it will be pretty small due to the low inflation relative to fiat.

[Anonymous No.16978209]

>>16978088
Post model

[Anonymous No.16978236]

>>16974340
I stopped reading after you said "literally"
Faggot

[Anonymous No.16978246]

>>16974336
This same rule applies to the dollar. I can make as many pieces of paper as I want and fake gold.

You think everyone is a counterfeit expert or carries a gold testing kit in their pocket.

This is “retard” tier.

[Anonymous No.16978254]

>>16976567
I too prefer concentrates to bud. Mostly because i had to move back in with mom a few years ago but it stuck with me and honestly the flavor is superior by a longshot

[Anonymous No.16978268]

>>16974320
>which is being orchestrated to be around the time of the halving for maximum deception), circa dec 2017.
Are you retarded? The halvening was in 2016. If we're going off historical trends, you wanna sell by December 2021

[Anonymous No.16978275]

>>16974496
Oh, it’s a bagholder, shocking.

This post negates your entire fucking argument. If you are a shitcoin bagholder and can’t see why BTC is so much more valuable than your shitcoins, you’re an idiot newpoorfag.

[Anonymous No.16978279]

>>16974299
didn't read
not selling

[Anonymous No.16978280]

Yearly inflation dropped from double digits to single - huge
Yearly inflation dropped from 8% to 4% - noice
Yearly inflation drops from 4% to 2% - meh

Inflation isn't the main selling pressure on the markets anymore. Its mostly from loaded oldfags who are DCAing out. NANO with now perpetual 0% inflation should be performing much better if inflation is everything.

[Anonymous No.16978284]

>>16974312
>2
imagine being this wrong

[Anonymous No.16978320]

>>16978280
This is exactly why every halving isn't going to be as impactful as the previous. Diminishing effects. Will barely factor in to daily supply and demand change.

[Anonymous No.16978359]

op is based and redpilled
miners losing 50k in profit per block
last halfing they lost around 10k

[Anonymous No.16978392]

>>16978190
>they refuse to sell
>they continue to mine and spend THEIR MONEY on electricity in hope price increases
LMAO

[Anonymous No.16978397]

>>16978359
On top of that, home mining was profitable before and after the last halving. Mining farms have now totally taken over, home mining has not been viable for over a year now and that is before halving. This time, even some mining farms will have to capitulate and only the top mega large farms remain. Centralization advances further.

[Anonymous No.16978410]

>>16978392
They do bobo

https://bitcoinvisuals.com/chain-block-reward

The miners have reserves for the halving they know they need to.

>>16978397
Not this time we are going to see the last asics arriving in 2021 due to the moore law.
Meaning that home mining with residential cost will win against centralized farms with business electrical costs.

An asic will literally last decades since there won't be new asics due to being phyisically impossible to produce smaller nm chips.


Going to work asap will be back later fags.

[Anonymous No.16978417]

>>16978280
>Yearly inflation drops from 4% to 2% - meh

Bellow fiat and gold inflation.

>NANO with now perpetual 0% inflation should be performing much better if inflation is everything.

No because 0 inflation is not 0% inflation is some early investors got most of the coins.

The only coin doing what you describe organically is Monero by going fast as fuck toward near 0% inflation but with a longer timeframe so coins are not centralized.

XRP has 0% inflation too but when the devs sell their coins to finance ripple operation they end up having more inflation than nearly all coins.

Educate yourself

https://www.viewbase.com/inflation

This is why also dogecoin or eth have low inflation even if they have infinite supply like xmr.
Infinite supply can tend towards low inflation too relative to a massive existing ammount of coins.

[Anonymous No.16978446]

>>16978410
how long do you think they will mine and spend hundreds of thousands of usd per day on electricity without taking profits?

[Anonymous No.16978482]

>>16978280
this but unironically

[Anonymous No.16978520]

>>16978280
>>16978482

You would really have to compare inflation to volume to properly assess the size of the impact.

[Anonymous No.16978553]

>holding PoS SHITcoins over PoW MONEYcoins
>ever
Good luck lmao

[Anonymous No.16978615]

>>16978446
They won't , they will stop mining and selling , which will cause difficulty to decrease as miners with older asics return to the market , but they will face the same problem, so eventually a bottleneck will happen pushing the price upwards as supply disappears from the market.

[Anonymous No.16978626]

>>16978520
Ideally, yes. Sadly such perfect volume data doesn't exist though. We have: multiple exchanges, multiple trading pairs, traders selling and buying multiple times their stack size on the same day, exchanges washtrading...
The closest thing to compare to would be the UTXO age distribution (pic related) and that doesn't show 2x less coins being traded compared to last halving = meaning the sell pressure of inflation is getting smaller and less significant compared to sell pressure from just people wanting to sell.

[Anonymous No.16978678]

>>16978626
This will be the strongest halving ever , everyone is expecting , nobody will sell till 2021-2022 + lowest inflation than fiat.

Also look at this shit.

https://bitinfocharts.com/top-100-dormant_5y-bitcoin-addresses.html

18181037 coins mined to date - 17.51M asleep gives you an estimate of 671k coins in circulation.

This is such a bull signal that you would be retarded to ignore.

With the current emission level we mine 657k coins per year after the halving we will mine
328k per year.

Data
https://www.bitcoinblockhalf.com/

This mean that the previous 365 days only 14k coins that have NOT BEEN MINED during the period moved , the rest are all coins that were mined in the last 365 days.

Nearly all the monetary supply being moved are newly mined coins.

Get in while you can , prove me wrong (maybe i learn something new).

[Anonymous No.16978703]

>>16978320
perhaps you havent been keeping up with recent events but ECB has instituted negative interest rate bonds. FED is printing trillions. btc inflation will ne less than USD and gold. they are working had to keep the everything bubble from popping. zoom the fuck out.

[Anonymous No.16978743]

Someone please tell me if I'm wrong here, I'm going to lay out my reasoning as to why the price will go up.

The transactional network is the most important aspect of bitcoin. Certain grey market, black market, government and fringe entities rely on the network to carry out their duties. To keep this network up and alive, you need the miners to be, mining. If this is the case, the miners need to be incentivized to keep mining bitcoin if this network is to stay up. Thus, these entities will not care what the going price of a bitcoin is because without the bitcoin network they hemorrhage influence, profit and vigor in their respective discipline. At this point the whole bitcoin ecosystem is a self licking ice cream cone that just has another scoop of zeros piled onto it after each halvening.

Obviously I dont mention the million other things that give btc value, but this is the most raw rundown of the base situation, right?

[Anonymous No.16978754]

>>16978678
>17.51M coins that havent been transacted with outside of an exchange the last whole 19 days = asleep and no more in circulation
?

[Anonymous No.16978768]

>>16974340
1 >copied from a notepad
2 >can't work out why greentext didn't work
3 >obviously not from around here
Do they even try to hide it?

[Anonymous No.16978771]

>>16974299

Bitcoin reflects inflation. It's that simple. It is more stable than any fiat currency out there, therefore it will go up regardless of what "events" we use to explain it. It's simply inflation of every national currency.

[Anonymous No.16978776]

>>16978678
2.5M of these ''asleep'' coins moved on January 5th alone

[Anonymous No.16978778]

>>16978626
thanks for this graph
>>16978678
not really looking to prove you wrong, i've been buying since the silk road incident was in the news and have sold 0 btc to give you an idea of where i stand. however, i would feel *a lot* better if in addition to there being an increase of very long term holders there was also an increase in high frequency transactions suggesting people are actually using it as money aside from practically just Andreas. At this point I am irredeemably blackpilled at the prospect of third worlders being smart enough to start using it and disrupting their shit governments - its already better in its current condition than their own fiat currencies objectively speaking. if we don't eventually see people using bitcoin as money i think it will fail in the long term.

[Anonymous No.16978808]

>>16974645
>links post from 2018
you're never going to make it.
https://medium.com/@ducktator/omisego-a-story-of-a-failure-6daead0a0c3b

[Anonymous No.16978809]

>>16978778
Third worlder here, Argentinean to be exact, people are starting to use it believe it or not.
Specially for online purchases btc is being traded at a premium here now.

And the news speak of "dollar bitcoin" aka the price the dollar is when you use bitcoin to obtain usd(bypassing capital controls) it's fucking happening anon.

Check localbitcoins data and see where demand is growing for a happy surprise.

[Anonymous No.16978818]

>>16978809

As soon as more and more fiat collapses and people start using Bitcoin the way it was intended to (as you say, for payments), BTC will collapse completely since it's been rendered completely unusable for that. Only BSV retains the original functioning Bitcoin protocol.

[Anonymous No.16978834]

>>16978809
Based

[Anonymous No.16978838]

>>16978410
>physically impossible to produce smaller nm chips
care to make bet on that???

[Anonymous No.16978849]

>>16978808
Even if omg was a scam (its not), and it ended up going to 0 (it wont), i have 250 eth and 5k link. I think ill be okay, but thanks for your concern.

[Anonymous No.16978887]

>>16978838
>care to make bet on that???

Betting on what that they won't build chips bellow 3nm?
That's well known the only way obtaining stronger computers after that is by increasing the size of the chips , but for crypto is irrelevant since it would be the same of buying more asics.

>>16978818
bsv is unusable due to lack of liquidity people can't buy in international exchanges with capital controls.
Maybe xmr with randomx achieves global liquidity so far btc and eth have achieved that.

>>16978626
btw anon i see you deleted the comment, that chart is about the coins that have not moved in a year.

Literally 17.51m coins have not moved in a year , and the ones that have moved are nearly exactly the number of mined coins.

[Anonymous No.16978970]

>>16978809
estimate on how many? any women using it?

[Anonymous No.16979001]

>>16978410
> phyisically impossible to produce smaller nm chips.
Seen this argument before.. Never held up.

[Anonymous No.16979002]

>>16974299
If you’re so smart OP, then break down chainlink for us.

[Anonymous No.16979010]

>>16974340
>using my logic and substantive reasoning, I will ignore everything you have to say based on one word I don't like

also, you "stopped reading" at the very first senctence, which is visible without opening the thread, but here you are, in the thread, being a faggot.

[Anonymous No.16979026]

>>16978970
>estimate on how many?

Hard to say but probably 70k and of 44m pop , credit cards are being taxed at 51% for foreign purchases , so you can basically avoid that tax by buying with bitcoin , this goes to everything like plane tickets, games , hosting.

I am literally changing a hosting i use because i can save 50% by using crypto.

>any women using it?

Probably no , it's being used in the back end of a lot of shit i am sure of that , otherwise there would not be such a high demand it's being traded at almost 11k usd now.

inb4 buy at binance , no you can't brainlets there are capital controls , and with credit cards you have 51% tax on any purchase in foreign currency.

So only way to buy is at p2p exchanges or local exchanges at a premium with supply that comes from foreigners living here and selling their btc here at a premium living like kings or freelancers.

The a few weeks ago i was walking on the street when i learned about the 30% new tax on credit card purchases and i was pissed off and as i doubled the corner into another street i saw a poster from an exchange saying "we don't need the dollar anymore we got bitcoin now" , and i started to laugh like retard at how fucking coincidental that was.

Hell this country is full of offices were you can trade bitcoin for usd cash and the reverse.

>>16979001
my i5 2500k can compete with the newer intel or amd cpus in most things, shit did not advanced much after 2012 , you will be suprised when you look at the data.

[LOOKING FOR DUTCHBRO'S No.16979029]

>>16974386
any idea what price to aim for? i almost sold at 13k a few months ago but was to retarded to put in the effort.
now i will probably sell if it reaches 12k and i was hoping that gonna be now since it pumped to 9k, but it seems it might be a long time before it reaches 12k again and i might be better of selling at 9k if that gets breached again

[Anonymous No.16979067]

>>16979026
It's an interesting theory but in my experience there are always new developments which increase performance due to new architecture designs. To say improvements are impossible is silly in my opinion.

Benchmarks between your i5 and a new i9 show a difference ranking from 30% to 435% depends on what area you look at. So it possible that in your experience you have not seen many improvements due to what you do but I would not say there is not much difference.

[Anonymous No.16979078]

>>16974299
Thanks just bought 100,000 BTC

[Anonymous No.16979106]

>>16979067
>benchmarks between your i5 and a new i9 show a difference ranking from 30% to 435% depends

Yes but the q8200 released in 2008 vs the i5 2500k released in 2011 shows the same.

All in a period of 3 years, meanwhile the cpus you want to compare have been released 9 years later and the intel cpus are so pricy only rockefeller can buys them, and the amd top line cpus are always out of stock.

So they achieved what was done in 3 years in 9 and no one is buying because it's overpriced as fuck and not worthy and amd which did finally achieved the last year with the 3900x and 3950x something good and relatively cheap is always out of stock.

The closer they get to 3nm the less they can improve.

[Anonymous No.16979118]

>>16974312
>>16974320

1. Flipping a coin is independent from flipping a coin a second time. Psychological reactions to a Bitcoin halving is not independent from a second Bitcoin halving.
2. You took an entire paragraph to say reduction in supply is irrelevant, but didn't give any reason why.
3. This literally disproves your first two arguments. This one doesn't help you at all.

Do you have an actual point to make or are you just trolling?

[Anonymous No.16979142]

>>16976559
to run a financial system you need to minimize trust, which ethereum doesn't do

[Anonymous No.16979158]

>>16978887
Checked your data wrong the first time, deleted comment, was too lazy to analyze more and did other things for a while.

>Literally 17.51m coins have not moved in a year
Your linked data says 12.58M hasn't moved in a year. Coincides with my picture. 40% hasn't moved in a year. Literally same conditions as last halving, but now the inflation cut is from 4% to 2% not 8% to 4%.
https://bitinfocharts.com/top-100-dormant_5y-bitcoin-addresses.html

[Anonymous No.16979168]

>>16979158
You are correct , i misread that , that said there is a massive bottleneck of dormant coins starting.

>but now the inflation cut is from 4% to 2% not 8% to 4%.

It's smaller so the effect should be slowest to appear but then again it's bellow fiat inflation rate so who knows what will happen.

[Anonymous No.16979266]

>>16976566
based

[Anonymous No.16980021]

>>16974336
Yeah, I'm not reading all this Jewy non-sense. Just bought the dip.

[Anonymous No.16980030]

>>16974496
>250 eth, 5k link, and 15k omg
Oh, well this tells us everything we need to know about your intelligence. Thanks OP for making it even easier to disregard your prolix!

[Anonymous No.16980055]

>>16974299
Wait so you really think that the number of bitcoin being sold every day by miners being cut in half won’t cause any form of price rise?
You think that the sudden decrease in bitcoin sold won’t make any impact on the price?

[Anonymous No.16980060]

>>16978190
Based explanation. Screencapped for my present and future edification.

[Anonymous No.16980172]

>>16979026
You're fascinating, anon.

[Anonymous No.16980309]

>>16979118
OP BLOW THE FUCK OUT

[Anonymous No.16980342]

>>16980172
Kek that's a new one fascinating , i am kind of obsessed with all this shit since i did my first btc transaction in 2015, i inmediately realized how revolutionary this was going to be.

I was literally able to bypass capital controls in an instant while before people had to do weird shit like buying credit in a payment service like skrill, webmoney or paypal and move between many payment gateways to buy shit due to capital controls.

Ironically i did not hold any coins during the 2016-2017 bullrun since i used them, but i was a spectator of the whole thing and that lead me to study this thing deeply.

This thing is a revolution on the level of the internet if not greater, the problem is that for everyone it's a different thing for a first worlder it's a speculative toy , for someone under capital controls a way to buy online bypassing capital controls , for a dev a cool tech.

But once you understand the economic part , the programming part and the game theory you realize that the early bitcoiners were redpilled as fuck and released the best tool to create freedom to the world.

For all it's flaws btc is doing a lot of good to the world.

[Anonymous No.16980403]

>>16975839
>supply is halved
>demand stays the same
>>16975886
>demand remains constant
>incremental supply cut in half
>>16978023
>Bitcoins price is solely determined by supply and demand
>>16978045
>A decrease in supply equals a decrease in inflation if demand stays the same the price goes up

see >>16974312

[Anonymous No.16980439]

>>16979118
>reduction in supply
There will be a reduction in supply? I mustve missed that.

>>16979002
>If you’re so smart OP, then break down chainlink for us.
I hold LINK, it solves the oracle problem.

>>16976387
>money is itself slowly becoming obsolete with the introduction of blockchain. If everything is tokenized, and everything has a market, then barter on a global scale becomes the most efficient way to transact. Arbitrage bots can price everything in terms of everything.
This is a good summary of the point I was trying to make.

[Anonymous No.16980508]

>>16978040
>mining reward goes down
>less profitable to mine
>a lot miners will not be able to mine anymore
>bitcoin supply goes into deflationary mode
>supply rate goes down
It’s like you’re retarded too

[Anonymous No.16980563]

Price = demand ÷ supply
Halvening reduces the supply.

/thread

[Anonymous No.16980588]

All these replies and 0 justifications that dont fall into the three i outlined in the OP

[Anonymous No.16980607]

>>16974299
Miners already sell most of their rewards on the market. Margins are too thin for most to simply mine and accumulate. So what happens when demand stays constant and the supply of BTC being sold gets cut in half? Stock-to-flow model is not a meme.
BTC is the most secure asset on the planet. It also is deflationary and exceptionally scarce. To deny it the title of digital gold is ignorance. The real test for BTC doesn't even begin until the final block reward is mined, at which point we will see what incentives are left to keep miners on the network. If miners leave to a more profitable chain once rewards are dried up then we may see a chain death spiral.

[Anonymous No.16980650]

>>16980607
They should make it so that the holders of bitcoin can mine blocks on their PCs/phones. They can even allocate this responsibility proportionally to holders of bitcoins if they lock them up on the network somehow. This would create a demand for bitcoin while simultaneously incentivizing people to keep the network going. I wonder why nobody has thought of this yet?

[Anonymous No.16980651]

>>16980403
>>A decrease in supply equals a decrease in inflation if demand stays the same the price goes up

No demand can even collapse and the price still goes up.

Do the math of how many btc are mined per day today (1800) , then multiply them by the price per coin (8367 usd) , you get 15m usd.

15M usd that are needed to enter from fiat every day for btc to mantain the price of 8367 usd

After the halving only 900 coins will be mined per day x 8367 usd , which means that 7,5m usd need to enter per day to mantain a price of 8367 usd.

So even if the demand collapses 50% the price remains the same, if the demand collapses less than that the price grows.

All of this is assuming less demand when you can expect it to remain constant or growing as price increases due to this event(and lower inflation grants more stability).

[Anonymous No.16980671]

>>16980651
>Do the math of how many btc are mined per day today (1800) , then multiply them by the price per coin (8367 usd) , you get 15m usd.
Youre assuming every bitcoin mined is instantly sold at market value. Thats not how it works.

[Anonymous No.16980688]

>>16980650
That's not a bad idea and has been tested in dash.

The problem with your idea is that you need a minimum ammount of coins to stimulate the demand otherwise the lock coins crap does not work.

Dash did that and it worked perfectly the problem is that the 1000 dash requirement to get a masternode is now absurdly big so they are probably not going to moon as hard now.

Look at this shit and find dash

https://coinmarketcap.com/historical/20171217/

The problem in what you want is that proof of stake which is what you are asking is extremly flawed if done 100% since it would centralize newly created coins in early holders.

Dash did an hybrid aproach and it worked but now the 1000 dash minimum to host a masternode is too high.

The best aproach is probably monero by minimizing the hardware requirements to mine.

[Anonymous No.16980699]

>>16974299
kek

[Anonymous No.16980712]

>>16980671
That is how it works on average

[Anonymous No.16980723]

>>16980671
>Thats not how it works.

That's exactly how it works , mining a coin is extremly energy intensive , plus hardware falls to entropy and needs to be replaced , plus new hardware is created and old asics needs to be updated.

The miners are being forced to sell in a way that most people do not understand, mining income tends to be very low , like 90 usd per month per asic if things go well.

This things cost 3000 usd each, the mining industry is extremly competitive and most miners are forced to sell.

Hell even the meme miners in 2010 were forced to sell

>>/g/thread/S13527775#p13527921

[Anonymous No.16980770]

>>16980699
Good job reading the post. Can you point out where i mentioned anything about miners no longer mining bitcoins? (though this is obviously inevitable at some point)
>there was bitcoin fud in 2016
>theres bitcoin fud in this post
>they must be the same

[Anonymous No.16980775]

>>16980607
who knows really whats going on in the chinese mining industry, that basically control btcs hashpower? like maybe 500 people on this earth max. all that is known is that china is a nepoistic, conglomerate run country. who knows what 10 or 15 year contracts chinamen have with local hydro powerplant. 1/5 of a usd penny for one kwh. possible if you ask me

[Anonymous No.16980815]

>>16980770
kek

[Anonymous No.16980826]

>>16980712
>>16980723
>That is how it works on average
>on average
So on average 100% of bitcoins mined are sold instantly at market value? I dont think you know how averages work.

>>16980723
>The miners are being forced to sell in a way that most people do not understand
>the mining industry is extremly competitive and most miners are forced to sell.
So they have an incentive to sell because they have expenses, great. Thats completely different from being forced to sell.
>most miners are forced to sell.
But thanks for contradicting your last post >>16980651
>Do the math of how many btc are mined per day today (1800) , then multiply them by the price per coin (8367 usd) , you get 15m usd.
>15M usd that are needed to enter from fiat every day for btc to mantain the price of 8367 usd

[Anonymous No.16980848]

>>16980815
>Can you point out where i mentioned anything about miners no longer mining bitcoins?
ill take that as a no

[Anonymous No.16980884]

>>16980826
Not instantly but monthly yes all mined coins are sold, this is not 2010 with meme miners all miners have serious investments and costs so they are forced to sell probably 90% of their mined coins.

>So they have an incentive to sell because they have expenses, great. Thats completely different from being forced to sell.

If a gold miner does not sell his gold he can't eat , if a btc miner does not sell his btc he can't pay his electric bills(and they are big).

>but thanks for contradicting your last post

What contradiction?I am just pointed that by doing the math of all the mined coins x price you get the ammount of fiat that needs to enter the market to sustain the price assuming miners sell 100%.

If anything it's even more bullish because they won't sell 100% and after 2021 they won't need to upgrade asics anymore due to the moore law.

[Anonymous No.16981586]

bump for justice

[Anonymous No.16981851]

>>16981586
Justice for what?

[Anonymous No.16981892]

>>16974336
Why exactly was fungibility an important property for an ancient currency? Why would the Romans or medieval kings or pharaohs care about this property? If anything, using a non fungible currency could simplify taxation and monitoring subjects.

[Anonymous No.16982125]

>>16981892
Isnt that still true with modern governments?
Would citizens use it or just barter amongst themselves?

[Anonymous No.16982351]

>>16982125
Modern currency isn't completely fungible, the serial numbers are different. Once ancient governments minted coins, they were no longer as fungible as gold nuggets or gold bars either. The coins had different designs and minting, and each run would have unique marks and variations. Fungibility is only really a preference of people using the currency.

[Anonymous No.16982382]

>>16974312
No you faggot, it's because for them to keep mining and being profitable with half the reward, they need to sell it at a higher price.

[Anonymous No.16982404]

>>16974340
Based

[Anonymous No.16982597]

>>16982351
Im not sure what your argument is here.

>>16982382
>for them to keep mining and being profitable with half the reward, they need to sell it at a higher price.
Is there some law of nature that says bitcoin mining must always be profitable?

[Anonymous No.16983004]

>>16978678
Should I buy before or after the halvening? From what I've gathered in this thread I should buy before and hold onto it until it goes up, though it won't go up by much. So does that mean it's too late to invest in BTC?
t./biz/ newfag

[Anonymous No.16983084]

>>16978088
>buy high
Never change /biz/. Also why the fuck didnt you mine bitcoin in the early days? You didnt even need money

[Anonymous No.16983134]

I must be retarded. Every ponts OP made makes me more bullish.

[Anonymous No.16983242]

>>16983004
It's not late you will do 10x in less than 3 years

[Anonymous No.16983682]

>>16978771
Is there a chart that shows the inflation of Fiat over time?

[Anonymous No.16983713]

>>16978778
I thought Venezuela is already using it

[Anonymous No.16983783]

>>16980021
>Yeah, I'm not reading all this Jewy non-sense. Just bought the dip.
opposite of jewy nonsense retard.

[Anonymous No.16983821]

No idea but shamless link for free bitcoin

https://freebitco .in/? r= 29085589
better thean losing my life saving lmao

[Anonymous No.16984123]

>>16982597
You are saying that part of the reason gold has value is because its fungible. And I'm saying that practically it was not strictly fungible and that fungibility isn't necessarily a desirable.

[Anonymous No.16984262]

>>16983242
prob 2 years but point remains the same

[Anonymous No.16984377]

>>16984262
Yea prob 2 years but may take 3 depending on political conditions.

>>16984123
Gold has value due to it's natural low inflation rate but it's being supressed with paper gold shit which is why it flatlined during a decade of qe in which the monetary base increased 4x.

[Anonymous No.16984506]

>>16978236
cringe boomer gets his ego shattered with 1 simple adverb

[Anonymous No.16984812]

>>16984123
>You are saying that part of the reason gold has value
Wrong. Part of the reason its practical to use as a currency

[Anonymous No.16984873]

ASICs aren't getting any better, so miner capitulation is going to work out differently. There will also be significantly less sell pressure because mining firms won't have to upgrade to new tech, just pay energy costs.

[Anonymous No.16984912]

>>16974336

Lol holy fuck ur a noob. Sell the linkies u fuckin scammed mongrel

[Anonymous No.16984940]

>>16974366
Do I have to wait 2 more years to make it ?
How do I keep my sanity while waiting and wage slaving ?

[Anonymous No.16984953]

>>16974340
Based

[Anonymous No.16984960]

>>16984812
Well yes, but if it wasn't practical to use as a currency, its value would be much lower.

[Anonymous No.16984963]

>>16974340
based

[Anonymous No.16984965]

>>16984873
>ASICs aren't getting any better, so miner capitulation is going to work out differently.
Not forever though. There are better things than silicon, it’s just a matter of time.

[Anonymous No.16984974]

>>16984965
They're not gonna make optical computers or what-have-you in time for this halving, though.

[Anonymous No.16985966]

>>16977546
I'm pretty good friends with my dad and he stopped caring about me being a stoner when I turned 16.

[Anonymous No.16986465]

>>16974473
Not even close. Global broad money supply is around 90 trillion. That means that the absolute maximum, if Bitcoin magically took over EVERYTHING, is around 4.3 million.

[Anonymous No.16986523]

>>16986465
It is a fiat currency. Doesn't matter what amount of wealth it siphons, If people agree on price 5M per coin then 5M it is.

[Anonymous No.16986547]

>>16974312
Supply and Demand dumbfuck. It's a Law of Nature. You literally are fucking stupid. You'll be broke in 6 months if you try to trade.

[Anonymous No.16986566]

The BTC market share of miners decreases with each halvening, yes. What I see happening on the months after the halvening is miners in first world countries closing due to unprofitable activity, lowered difficulty, big miners in china and central asia start holding coin waiting till it becomes profitable again to sell.