Peck by twetch#14770

1BC46H…efQQ Key · twetch

Maybe it’s my simple brain but I can’t wrap my head around why the “halving” means excitement. It shouldn’t have any affect on price. The total supply is still the same. I can still buy it on exchanges. It just means mining is less profitable right?🤷🏻‍♂️

What the chain says

Transaction: aefb454c95d4ab1069817944c7e369e8c7abc309e4cf18dd56cec13824fed1f7
Block: 622 674
Time: 2020-02-19T00:12:14Z
Signer: 1BC46HhEo58qD7RPCr4fkhnRjsHJtzefQQ
App: twetch
Type: post
Content type: text/plain
Name in tx: twetch#14770

Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.

Signed by 1BC46HhEo58qD7RPCr4fkhnRjsHJtzefQQ Verified

Replies (7)

twetch#14770 6.6y

1BC46H…efQQ Key · twetch

Replying to@1BC46H…efQQ

And then if mining is less profitable halving after halving after halving isn’t there a point where people would have to pay (for power) to mine with no reward?? Who’s going to want to do that. So people turn off their miners and then what happens...

twetch#14770 6.6y

1BC46H…efQQ Key · twetch

Replying to@1BC46H…efQQ

Does the network... gulp ... stop???

twetch#2159 6.6y

1Q3Fas…2d7r Key · twetch

Replying to@1BC46H…efQQ

The halving means 1/2 the amount of bitcoin subsidy per block reward, so there is 1/2 the amount of ‘new’ bitcoin available every 10 mins on avg. The miners and market have to adjust the price the new coin is sold at to stay profitable.

twetch#2159 6.6y

1Q3Fas…2d7r Key · twetch

Replying to@1Q3Fas…2d7r

You have to think in terms of the amount of coin available - supply & demand, per block reward. Also transaction fees are meant to replace the block subsidy, so ideally the # of txs and fees should rise to make up the difference.

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Post by twetch#14770

Replies (7)