Post
Topic
Board Bitcoin Discussion
Re: Conclusions of CoinDesk's First Quater 2020 Report
by
hatshepsut93
on 17/04/2020, 07:04:53 UTC
Halving will take place in less than two months when the reward for bitcoin block generation will be halved — from 12.5 BTC to 6.25 BTC. After two previous halvings, the price of bitcoin increased and compensated for the loss of bonuses for miners. The March drop in prices so far puts the upcoming halving on uncharted territory.


Look at the hashrate chart, when the price declined by ~50% the hashrate dropped by only 16%. It's clear that miners are making big profits with even the current price, so they will be able to afford to keep mining even after the halvening. Some will drop out, but it will be only a small minority. Halvening is a very predictable event, miners were preparing for it for years by upgrading their equipment, and those who didn't simply don't expect to mine after the halvening.