Quote from: Odohu on Today at 10:14:30 AM

Quote from: simons_js on Today at 10:00:57 AM

Halving is a way for satoshis to force the price of bitcoin to continue to rise over time. The fewer rewards given to miners will make bitcoins harder to obtain and rarer as time goes by. This is a smart strategy that Satoshi had and I just realized it.

The weakness of this strategy is that when Bitcoin fails to reach a high price after the halving until the next halving occurs, this can damage public trust and also harm miners. However, this weakness no longer applies because Bitcoin always has a new ATH at every halving phase that occurs. So, I believe the price of bitcoin will continue to skyrocket in the future.

What do you think?

It is wrong to use the word force for it and I somehow disagree with you on this. The right way to put it is that Bitcoin was designed in a way that the supply will continue to decrease even in the face of increasing demand thereby creating a kind of imbalance that will spur an increase in price. This is not the same as forcing people to buy Bitcoin but a simple economics.

Whether you agree or not, this design was planned by Satoshi. The results would be different if the rewards for miners were not cut using the halving method.

Yes, bitcoin is not about a simple economic concept but a complex and planned concept. If bitcoin does not have a good algorithm system and development plan then I am sure bitcoin will not be trusted by the community. Halving is one of satoshi's great ideas, a method that indirectly forces the price of bitcoin to continue to rise over time.

Quote from: btc78 on Today at 10:16:16 AM

Quote from: simons_js on Today at 10:00:57 AM

This is a smart strategy that Satoshi had and I just realized it.

Is it?

Because halving was implemented so that bitcoin can fight against inflation. By maintaining a fixed supply of bitcoin, the currency has lower chances of losing its value. I don’t personally think that this was what Satoshi had in mind but because of the reducing supply, the price of bitcoin gets higher and higher.

I think this will continue at least until the next halving.

The conditions would be different if Bitcoin did not use the halving method. You can imagine if the reward remains 50 btc/block like early stage bitcoin. I suspect that even if the number of bitcoins remained the same, the price would not be as high as it is now. That's the great thing about the halving strategy designed by Satoshi

Quote from: davis196 on Today at 11:09:48 AM

Quote from: simons_js on Today at 10:00:57 AM

Halving is a way for satoshis to force the price of bitcoin to continue to rise over time. The fewer rewards given to miners will make bitcoins harder to obtain and rarer as time goes by. This is a smart strategy that Satoshi had and I just realized it.

The weakness of this strategy is that when Bitcoin fails to reach a high price after the halving until the next halving occurs, this can damage public trust and also harm miners. However, this weakness no longer applies because Bitcoin always has a new ATH at every halving phase that occurs. So, I believe the price of bitcoin will continue to skyrocket in the future.

What do you think?

I don't think that Satoshi was obsessed with the Bitcoin price back in 2009-2010, when one BTC was worth less than a dollar.
The whole idea was to create a deflationary currency, instead of an inflationary currency.
The demand is what determines the price of an asset or product. The price of Bitcoin would be zero, if the demand for BTC was zero.
The fixed supply doesn't change this. You could create an altcoin with fixed supply, but the price of this altcoin will be zero(or close to zero) because of the extremely low(or non-existent) demand for that particular altcoin on the crypto markets.

Sorry, I don't understand the direction of your writing

simons_js

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