This is a great initivative !

I would like to put my attention on the fact that halving has actually the greatest impact not on the price but on the miner of the bitcoin network.

It means that for the same amount of work, the output from mining will be halved. What does this mean?

Some miners will get out of business

A huge majority of the mining capacities and mining pools are nowadays in china. The mining capacities are defined by two things:

• the quality of the mining equipment
• the costs for electricity

In order to make a profit from mining the output from the mining activites have to be logically higher than the costs for equipment and electricity.

However the halving has no impact on the costs of mining, it only impacts the output. This means that many miners will not be able with the same costs to generate a profit.

Reduced mining capacities

This means that the overall mining capacities will decline. We can imagine that nobody lets the mining equipment turn if they don't make a profit with it.

Redistribution of mining capacities

Since there is less to earn with mining, it will become even more important to reduce costs. This will push manufacturers of mining equipment to make these more efficient. If the equipement can produce more hashes and at the same time spend less electricity, it will become possible to earn more.

At the same time, we might assist to a redistribution of the mining capacities to places where electricity is almost free of charge. A good exemple is Iceland where there are quite significant mining capacities fueled by geothermic energy. At the same time the climate in island is cold and there is not much cooling needed.

I think we will in the long term all profit from halvings because it will force the industry to be more efficient and more economic and to use renewable energies to fuel mining activities.

I'm sorry it got a bit long...