Quote from: deisik on November 25, 2015, 06:19:49 PM

Quote from: Amph on November 25, 2015, 05:14:53 PM

Quote from: deisik on November 25, 2015, 04:43:09 PM

Quote from: Amph on November 25, 2015, 03:22:54 PM

if it was done (the halving) every year, right now miners would be fucked basically

So how does it change the things now, before the next halving? If the halving weren't as rare as it is, would the miners have already been fucked by now? If they would (which seems to be your point), I see no reason why they won't be ruined by this halving...

What goes around comes about

it change the thing because they had time to improve the efficiency, now they have a better efficiency and can sustain the halving even with a <<<$100 price, if the halving was every years they would still be with the efficiency of 2011....

A better efficiency is fully accommodated over time by the rising difficulty, so we are effectively time-invariant in the long run (efficiency vs difficulty), i.e. the halving interval is irrelevant if we still hit the efficiency wall before the halving. In other words, your assumption would hold true only if (and for as long as) the efficiency outpaces the difficulty. Previously, this condition had been satisfied by the new more efficient equipment hitting the market on a pretty regular basis...

But now we seem to be well past that point

difficulty will not increase if the price do not increase, so no one can not rely on difficulty and dismiss the impact of the halving, for the efficiency

satoshi predicted that the price would be increased slowly not in few years, this was another reason for the halving