Bitcoin Halving Brings Surprising Stability
So, #thehalvening happened.
And the price!
...dropped a bit then went back to where it was.
yaaaaay
There are some theories floating around
Hypothesis: #bitcoin miners have hoarded BTC in anticipation of the halving. Now they're offloading, causing delay in supply shock. @TurDemeester
Interesting. So we could expect to see a slower rally as as supply gradually offloads.
@TuurDemeester Supply shock wasn't noticeable for 2-3 months after the 2012 halving. @bertkernz
Ah. And yet:
@AlpacaSW @TuurDemeester no. Markets merely priced in the halving. @Awyee707
to which one can say:
@theonevortex @TuurDemeester yes, and it couldn't be priced in, because no one knows the available supply, costs, OTC mrkt, etc accurately. @AnselLinder
Thoughts?
(note: just as I said this, the price shoots up by $20, so WHATEVER!)
I guess the price will grow after some consolidation on the level of 650. There many new blockchain projects appear in present days and most of them require bitcoins while the amount of this crypto is restricted. So we just need to wait untill demand will become large enough to make the price grow. We have nothing to worry about because any unpredictable news in worlds economy will also push the bitcoin forward.
Right. It seems like bitcoin is being used as a cornerstone for the expansion of more specific cryptos. There are lots of very interesting alts being developed that at least in part, refer to bitcoin for their end-value. Steem would be a good example, actually: an crypto-token that gives a number value to each interaction on social network, which can be easily exchanged for bitcoin, the real-world economic value application. The way this is all working out is fascinating! I can see thousands coins that are essentially mined by doing mundane tasks to fuel an increasingly automated economy. Like, what if you could clear transactions by using a toaster or taking a walk or opening and closing the front door? We could have a whole economy based on the value of every thing we do in life... I don't know how pie-in-the-sky I'm being right now, but the spitball of this train of thought is pretty neat, anyway.
If this halving is anything like the last halving, its largest effects will take an entire year to play out.
Speculating is fun, yes, but the only smart thing to do is settle down, stay patient, and just let it happen.
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