Btc is dead until the next halving

I think you’re underestimating the greedy nature of all of those currently down (who were, at one point, massively up)... people won’t be content with “breaking even”, they’ll want much more than that... what happens then?

>Canada
>European licence plates

>slowly dying
same as fiat then

I think the pic is a bigger problem than bitcoin dying.

Just an average day in Spain

>holding through multi-year bear market only to get break even

People who do not understand the fundamental value proposition of bitcoin and only bought into the hype have sold long time ago. Bitcoin bear markets produce hardened holders, which is why the yearly low price of bitcoin has been growing 9 out of the last 10 years.

>block rewards halve
>half of miners drop out
>hashrate halves
>51% attack
you're fucked.

Nah

Assumption 1: Half of the miners will no longer be profitable block reward is cut in half. Any data to back that up?

Assumption 2: Assuming #1 is true (it is not), ALL the unprofitable miners will stop mining AND attack bitcoin. Highly unlikely given that they have BTC holdings themselves

but nice try

halving means the network is dying. difficulty is dropping cause no one uses it. dead coin. buy eth.

Bitcoin is the king of SHA-256. People 51% attack shitcoins and rob exchanges, often withdrawing Bitcoin or Ethereum. It is shitcoins with the same algo that are vulnerable to a 51% attack. Same goes for all Ethash coins besides Ethereum and soon possibly Zilliqa. That is what retards and exchanges deserve for supporting scams.

explain how im wrong.
only two billion btc were mined between the ath and now. even if we assume that half of the total supply is lost forever, the supply only grew by about 1/4. that's not enough to permanently suppress the price by massive amounts.
it's simple.
current hashrate is x, current rewards are y.
currently, x hashpower generates y coins per block.
after the update, x hashpower generates y/2 coins per block.
this of course makes mining unprofitable at the current difficulty. what happens is that miners will drop out until the hashrate (and therefore the difficulty) goes down by half too. then,
x/2 hashpower generates y/2 coins
and mining is profitable again.
to 2:
I'm not saying that these ex-miners will attack the network, I'm saying that the costs to do it will drop by half, which makes a potential attack much easier.

doesn't get the reference. go clean your room

If you honestly think fiat is dying then you really need to come back to reality.

BTC won't even exist when bitcoin halves next time.

Attached: wild satoshi appeared.jpg (918x1309, 388K)

You dummies it’s the institutional investors that matter. Right now crypto is like less than .1 percent of total global investments

The point of Assumption 1 was that you do not know the profit margins of miners (block reward converted to dollars minus their operations costs denominated in dollars), so there is no way of knowing, how many will drop out after the halving. You also assume the price will stay the same.

What is actually happening:
Mining is fairly decentralized and individual miners join together in pools. Each has a different profit margin. As the price goes down, unprofitable miners sell off their mining gear to more profitable miners (there goes your 51% attack).

Halvening is no different from BTC suddenly dropping 50% in price from the miners perspective. We have had multiple halvenings and 50% drops with much lower hashrate a no mining death spiral occured.

Also 51% attacks did not even kill any of the shitcoins that were attacked last year (BTG for example).

Basically if a string of super unlikely scenarios perfectly plays out, all that happens is one double spend attack and the network continues functioning.

This is some super weak FUD you got there.

Mining is only barely profitable by design - if some had massive profit margins, others enter the market and raise the hashrate until it's barely profitable again. All relevant miners work under the same conditions (gigantic miner farms in china / other second world nation), so it's very unlikely that certain miners are much more profitable than other miners.
As I mentioned before, the inflation caused by mining isn't big enough to massively (30%+) suppress the price, so it won't be mooning after the halvening - in fact, it might already be priced in.
>As the price goes down, unprofitable miners sell off their mining gear to more profitable miners (there goes your 51% attack).
literally nobody buys used already unprofitable mining gear with a questionable previous usage
>Halvening is no different from BTC suddenly dropping 50% in price from the miners perspective. We have had multiple halvenings and 50% drops with much lower hashrate a no mining death spiral occured.
that's because the price was mooning at the time. right now, it's in a bear market, and I seriously doubt that it'll moon before the halvening.
>Also 51% attacks did not even kill any of the shitcoins that were attacked last year (BTG for example).
Bitcoin is a special case - actual institutions and massive investors invested into it, and they realized how devastating a 51% attack really is. You can't compare them to some bagholding pajeets.

imagine being this wrong

those are turkish plates

>All relevant miners work under the same conditions (gigantic miner farms in china / other second world nation), so it's very unlikely that certain miners are much more profitable than other miners.
Wrong. There are miners who outright dont care about external costs, such as state level actors e.g. Venezuela or North Korea. Then you have miners capitalizing on super cheap electricity from unused (often hydro) powerplants e.g. in Norway, Russia or Iran. There is a whole spectrum that goes all the way to amateurs with a couple of S9s in their basements.
>literally nobody buys used already unprofitable mining gear with a questionable previous usage
Also wrong. Buying very cheap second-hand gear is way for unprofitable miners to salvage some value and for profitable miners to increase their share. Free market in action.
>that's because the price was mooning at the time. right now, it's in a bear market, and I seriously doubt that it'll moon before the halvening.
I specifically mentioned >50% price drops. Right now price is down 80% from ATH, guess why hashrate isnt down 80%.
>Bitcoin is a special case
I will concede that it definitely would not be pleasant, but it would not kill the network. And it still is unlikely as fuck - a central organization would have to acquire half of the existing mining gear and be able to run it for suistained amount of time.

Basically you are free to miss out on the next bull run, this the last post.