Bitcoin

The Halvening.



The Halvening.



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26 Comments on The Halvening.

  1. UnpropitiousPretext

    I’m excited to see my first halvening. I think this will get a lot more attention than the last 2.

  2. Nick123758

    Miners can buy futures to lock in their profits and the future supply is already known. Also each consecutive halving, inflation will not shrink as much as the last one.

    I’m not so certain we’ll have a massive bullrun so soon after the last one.

  3. Rattlesnake_Mullet

    Bitcoin has stayed within this pattern remarkably accurate during the 10 years of it’s history.

    We’ll see what the future brings.

  4. BackWoodsBurner420

    Can someone catch me up on the state of things? I invested $500 in bitcoin yesterday because I heard some dude was cutting his dick off if it doesn’t go up.

    Why tf did I just lose $75 I thought this shit was going up

  5. zxaslw

    The graph is projecting $140K by 2022. I don’t know if that’s realistic. But if we assume this number, then we can predict the consequences for electricity consumption with some basic math.

    ​

    1. At a price of $140K and a block reward of 6.25 BTC, a block would be worth 6.25*$140K = $875K. So miners could then collectively spend up to $875K to find a block before they are operating at a loss.
    2. Miners will tend to expand and difficulty will increase, until they get close to that cost point of $875K per block
    3. Let’s be conservative and say that electricity is only half of the mining cost (because there are other operating costs, and hardware depreciation to account for). So say only $437.5K goes to electricity.
    4. Let’s estimate miner’s electricy cost at $0.05/kWh. (I suppose it can be much less, e.g. next to hydropower, but let’s again be conservative in our estimate.)
    5. So miners can collectively spend $437.5K / ($0.05/kWh) = 8.75 million kWh = 8.75 gigawatt hours of electricity per block.
    6. Extrapolating to a full year’s worth of blocks, we get about 365*24*6*8.75 GWh = 460 terawatt hours
    7. Global electricity consumption in 2014 was 23,816 TWh. So 460 terawatt hours would be almost 2% of global consumption.

    ​

    By 2022 overall electricity use will be more than in 2014, but we’re still talking about more than 1% of global electricity production going to bitcoin mining. That seems… excessive.

  6. PSkizzle18

    Am I the only one who sees the graph as skewed? After about 20k the intervals do not corrolate with the jumps

  7. N8twon

    I like to accumulate at least .02 btc a week

    Not as easy at 8k as it was at 5k….. but I’ll take it

    Been stacking for a min

  8. arnspawn

    I can’t believe it will be that easy to turn few k to few hundreds k, are we really such early adopters or what? If I tell somebody that they always think is a scam.

  9. Sixophrenia

    Imagine if we found a scaling solution right as it was about to spike. We’re gonna need a logarithmic graph of the logarithmic graph

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