Post
Topic
Board Bitcoin Discussion
Re: Why buying bitcoin in 2024 is profitable
by
pooya87
on 18/01/2024, 12:53:07 UTC
Halving cuts miners reward in half which means it is less profitable to some miners and they might not venture into mining which in turn means less mining and or btc scarcity which forces the price to go up
This sounds like a confused statement.
First of all according to history, hashrate keeps rising even after halving. We can not predict what is going to happen this time but also we don't have any reason to believe this trend is going to change.
Secondly regardless of how many miners are mining bitcoin, the bitcoin scarcity is going to be the same because neither supply nor the number of blocks being mined (new coins created) are going to change on average even if the hashrate drops.