Quote from: ensurance982 on April 07, 2015, 05:54:40 PM

Quote from: dothebeats on April 07, 2015, 05:45:33 PM

Quote from: DumbModz on April 07, 2015, 01:21:39 PM

With Bitcoin halving soon does that mean the price of Bitcoin has to double or is mining just going to stop. Another thought is mining is going to get more efficient. What are some of your thoughts on this matter?

Over a year before the halving happens. Since the block reward is going to be reduced in half, I would assume that miners that cannot cope up in terms of expenses may shut down their machines for good, and that is if the price didn't go up. But as I've said, it is over a year before this happens. Many things could take place along the way, so I'm not really sure what the halving may bring.

Miners are going to mine as long as it's economically feasible to do so. Period. There'll likely be a decline in the total network hash rate if the price isn't incredibly much higher than the average cost of mining a single coin. Economically it will be priced in continuously...

Exactly. The price will have to react to compensate that there are less miners ready to mine at a given cost the half of the coins they used to mine before. but as I said before, it is 15 months away from here. Too early to call it just now.