BITCOIN

>>1370709
zzz

time to sell. down go down with the ship

>>1370709
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)

>>1370711
if she drops im gonna accumulate like a muthafucker

>>1370714
>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.

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.

>>1370778
I dont think we'll see a big bubble. Probably a steady increase to $900 or so by the year end

>>1370778
i didnt know that... if those stats are real then that changes my whole point of view

>>1370792
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/

>>1370843
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

>>1370848
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.

>they don't realize this will crash the market

>>1370856
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

>>1370859
energy costs that is

>>1370778
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.

>>1370711
>>1370716
Bought before and will buy after to cover all my bases.
I think if it were to dump it would be happening now.

>>1370990
>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.

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.

>>1370990
>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.

there's a live stream of the halving up here

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

>>1371079
>almost 300 retards are watching this

>>1371093

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

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.

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

>>1371096
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.

Four blocks left...

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>>1371112
Buying dips on Bitcoin? noo, just don't, stay poor like the rest of nocoiners in denial.

>>1371124
I'm not a nocoiner.

Checkmate.

>>1371112

$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+

>>1371155
im talking after the drop that's about to happen

HAPPY HALVING!

It happened guys

Is it gonna tank now?

>>1371169
looks like the opposite

>>1371169
$1 bitcoins here we come

>>1370709
Yay now I make half as much money ;_;

literally nothing is happening

>>1371176

IT'S FUCKING TANKING

SELL SELL SELL

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>>1371178
>>1371176

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

>literally

>>1371176
It's gone down 20$ on C-CEX.com from 657$ to 636$

>>1371182
>$605
no the fuck it didn't

>>1371176
What did you expect ? It just happened

i cant see the change on polo, kraken or coindesk

>>1371188
Shows up on coindesk for me

a muted decline is the worst case scenario for buttcoin

everyone going "meh" is not good

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

>>1371195
3 bits

>>1371196
byte me

>>1371073
>>Perhaps a small dip in the hours after halving
I was right about that.

Now we have to expel all that halving hype.

>>1371195
90% here :^)

>price is slowly dipping

shit bois i about to do it

>>1370714
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.

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

>>1371238
fuck off kys

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

Price is crashing btc is at $637

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>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

>>1371271
Thats not a crash,buy the dip

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

>>1371271
Meh, it seems to have bottomed out and is even rising slightly.

>>1371282
Chillax. Or put it on an exchange and convert to dollaridoos. Or use shapeshift and convert to tether dollars

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.

>>1371298
Obviously you're profiting off this, so tell me, why should I use this site?

Sell it to me you fucking shill.

>>1371282
I wouldn't panic it's bouncing at around $640 at the moment and will no doubt go up again soon.

>>1371372
r-right guys?


(buy ethereum)

>>1370709
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?

>>1371372
>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.

>>1371399
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.

>>1371415
>wishful thinking the post
it will go down for years from here on. huge dip 1-3 year long is what gonna happen.

>>1371397
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.

>>1371415
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.

>>1371415
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

>>1371420
>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?

>>1371238
Nice meme fgt

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

Will b thinking of you baby

>>1371451
You don't have a clue what it's going to do the next couple months. How about we start from that premise.

>>1371426
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.

>>1371185

$608, my mistake. 15 minutes time frame.

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>>1371580
Forgot Pic

>>1371359

Tournament for 10 grand right now for traders.

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

>>1370714
that is normal fag reasoning. Demand is up and supply is down,so everyone is holding.

>>1371604
in what way is supply down? incoming supply is down but current supply is still the same and still constantly growing.

>>1371616
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.

>>1371583
It dipped to like $626 you must be looking at the wrong chart m8

>yfw nothing happened

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

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??

Hi /biz/, 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?

>>1373125
>>1373125
>>1373125

>>1373077
>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.

>>1373125
Please?