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RE: IMPACT of halving in my point of view

in Project HOPE8 months ago

Greetings dear @crypto.piotr, it's a pleasure for me to greet you. I agree with what you mention in your article when you refer to the fact that the selling pressure will decrease on the part of the miners. This is possibly because now you have the reward in half and the cost of producing a bitcoin is higher. In the short term, I don't think they will solve with alternative energy sources, but in the long term it would be a great alternative and even so I think they would speculate with the price because more than 80% of bitcoin is already mined.

On the other hand, the conspiracy theory that intuitions own mining farms is not far-fetched, they have both the purchasing power to cover the cost of equipment and the governmental power to consume the amount of energy they need without any problem.

It will dawn and we will see, have a great week.

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 8 months ago 

Hi there @amestyj

It has been my pleasure to be greeted by you :) Thanks for taking the time to read and comment on my post.

This is possibly because now you have the reward in half and the cost of producing a bitcoin is higher

My main point is that I don't expect that any of those newly mined BTC would end up on the market until much later in current bull run. So sell pressure coming from miners won't only be cut in half. I would expect it to completely disappear until prices will be much higher.
I'm not sure if I made myself clear about that part.

Stay safe