Quote from: smooth on April 09, 2016, 10:50:42 PM

Quote from: Johnny Mnemonic on April 09, 2016, 10:47:33 PM

Quote from: r0ach on April 09, 2016, 08:58:11 PM

I personally think anyone trading altcoins this close to BTC halving is insane, but that's just my opinion, man.

I think a lot of bitcoin speculators will be badly burned in July, as everyone seems so sure the price is going to increase with the halving. In reality, I expect the BTC price to plummet as miners abandon ship en masse.

I doubt miners will abandon ship, unless there is a price drop first. The argument that much of the mining is recent-gen ASICs that are mining at <0.5 BTC variable costs per BTC is reasonable.

I'm not suggesting a loss in hash rate would cause the price drop. I'm saying the halving will mark the end of domestic (non-chinese) mining at any significant scale. Miners with a dramatically lower cost per BTC will price everyone else out of the market.