[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 32 KB, 196x123, 56151342-CA60-4FD7-AE96-30274F7B2DCD.jpg [View same] [iqdb] [saucenao] [google]
17701685 No.17701685 [Reply] [Original]

BTC hashrate will plummet post halving. We will be seeing many mining operations outside of places like China shut down operations.

At current levels the halving means that BTC rewards will drop by 53692.75 USD Per block. Operations within that margin area will have no choice but to kill their operations.

The price isnt going to sky rocket because Miners decide to sell higher. There are too many traders and too much existing BTC for a block reward reduction to have this effect because traders will just keep pushing them down.

Further, these operations that shut down may actually dump stacks to cover costs and take what profit they have actually pushing the price lower not higher.

>> No.17701710
File: 603 KB, 1036x919, 1571334168986.jpg [View same] [iqdb] [saucenao] [google]
17701710

The Wu Flu just made the cascade collapse at the halving a reality. God I love it. Bitcoin is literally dead right now and none of the bulltards even realized it yet.

>> No.17701716
File: 478 KB, 1105x1154, 20C402C7-2CBA-4F71-96C1-861F4630DD26.png [View same] [iqdb] [saucenao] [google]
17701716

>>17701710
Based

>> No.17701729

>>17701685
>Operations within that margin area will have no choice but to kill their operations.
Pajeet gave a deep think before typing this

>> No.17701740

>>17701685
Miners have already taken the halvening into consideration. Nothing will happen.

>> No.17701744

>>17701729
Current margin area not post halvening margin

>> No.17701773

>>17701685
>Operations within that margin area will have no choice but to kill their operations.
Yeah better just pack it all up and throw that shit in the bin I guess.
Dumb bobo.

>> No.17701780

>>17701740
NOOOOOOOO I'M THE ONLY SMART PERSON HERE EVERYONE ELSE IS A RETARDED NPC

>> No.17701787
File: 69 KB, 1093x1028, Mumuhat.jpg [View same] [iqdb] [saucenao] [google]
17701787

>>17701716
>>17701716
Cringe

>> No.17701789

>>17701740
Miners have been told it will pump. It is not going to pump and they will all start selling. Then all the bag holders that were told it was going to pump will start selling. Miners shut off rigs do too cost. More selling. Bitcoin is officially dead.

>> No.17701790

>>17701780
Not an argument.

>> No.17701806

What no one seems to realize is that mining operations are still heavily financed and crypto literally hasn't even been around long enough for the loans for the vast majority of mining operations to even come close to maturity.

When halving fails to "double the price" and the operations start closing up, where do these idiots think the money to satisfy creditors is going to come from?

>> No.17701833

>>17701790
>let's pretend miners who make actual money and get rich unlike us don't know wtf they're doing
ok bucko

>> No.17701865

>>17701685
Who gives a shit, it's low-cap season, and FRM will reap the benefits just like Raiblocks.

Nobody cares about Bitcoin anymore.

>> No.17702043

>>17701806
Its the only thing keeping many here docile. If the (((alternative system))) aka crypto fails, these people have nothing to look forward to. No wives, no family, no skin in the game, except crypto the last hope.

But who nose, may they want to speed up the boogaloo, crashing crypto will help a lot.

>> No.17702064

a lot of smart miners shorted 14k on futures to cover this

>> No.17702174

>>17701685
Funny that Satoshi designed BTC so that it will basically implode on the upcoming recession. It's like a kill switch in case that BTC fails its original directive, which it did.

>> No.17702494

>>17701685
It costs some Canadian miners 3k to produce 1 BTC. I bet Chinese miner's costs are half of that. Nothing will happen

>> No.17702775

>>17701789
Exactly this

>> No.17702811

>>17702174
Which part of BTC was designed so that it will basically implode on the upcoming recession? What is BTC's original directive?

>> No.17702819

what a stupid thread

>> No.17703177

>>17701789
>do too

>> No.17703188

>>17702811
To go until $1,000,000

>> No.17703304

>>17702811
>Which part of BTC was designed so that it will basically implode on the upcoming recession?
Halvening is a countermeasure against aggressive mining and profit seeking. By making it unprofitable to mine, most miners would abandon ship. This would make the network less secure, creating panic. The effect would snowball, causing all investors to leave Bitcoin.

> What is BTC's original directive?
Peer-to-peer currency.

>> No.17703458

>>17701789

Yes, 9 months after the halving it will pump to new highs

>> No.17704134
File: 31 KB, 1313x570, Screenshot_2020-03-12_00-33-30.png [View same] [iqdb] [saucenao] [google]
17704134

What is this pattern called?

>> No.17704156

>>17701685
Exactly the same FUD was spouted before the last halvening: http://archive.is/Yd3MA.. Bitcoin price now 12x higher

>> No.17704173

>>17704156
The last halvening didn't happen during a pandemic induced recession. Bitcoin has NEVER seen a recession.

>> No.17704187

>>17704134
the titty twist

>> No.17704191

>>17701685
Bobo. Until the stock to flow model fails, you are retarded.

/thread

>> No.17705193

>>17704191
S2f goes to infinity for bitcoin. Imagine believing that

>> No.17705747

>>17704191
Imagine being so uneducated about S2F that you don't even understand how it's not appropriate for bitcoin.

>> No.17705865

>>17704173
>Bitcoin has never seen a downturn
Go take a look at the SPX chart over the past 10 years.

>> No.17707241

>>17704134
Pre halfening(when the BTC price is halved)