From Joe Burnett (this is just accurate & brilliant):
“Do miners sell #bitcoin to cover their expenses? Yes.
Does the halving cut mining revenue in half? Yes.
Do the weakest miners and ASICs turn off? Yes.
Does the marginal seller affect the price of bitcoin? Yes.
Does the halving then affect the price of bitcoin? Yes.
Is there not an immediate effect because a cut in the flow of new coins requires time, hence the definition of a flow being a quantity per unit of time? Yes.
If price begins to rise is there a delay before new miners come online due to the time required to build mining and energy infrastructure? Yes.
So the price can rise, but sell pressure can remain ~unchanged~ for 12-18 months post-halving? Yes.
This means the prices goes up, attracting a new wave of adoption, and few natural sellers exist for 12-18 months? Yes.
So the halving is very bullish? Yes.
But this doesn’t matter for LTC, ETH and BOMB because there is no real demand for the second best monetary tool because money solves the double coincidence of wants by becoming the ONE most marketable tool? Yes.
So prices of these copies are just high beta and high theta (time decay) derivatives of bitcoin? Yes.
And bitcoin is going up forever? Yes.”
To quote taggert in blazing saddles “u use ur tongue purtier than a $20 whore” 🤣
Bitcoin is literally bitch slapping people who don’t participate, over and over.
BTC slaps everyone.
We’re just smart enough to know it’s a love slap so we ask for MOAR.
Slaps me every time I didn’t buy more on the last dip
agreed ... but one more question 😉
does the impact of the halving go down from cycle to cycle?
Yes. IMO.
90% ++++ already mined. Not much left. But who knows.
Disagree.
What’s left to mine is what new adopters are waking up to now. Otherwise they have to shake from existing holders and 70%+ of those coins aren’t moving - gonna need to be 7 figures of fiat to shake 1 coin out of someone holding XX+ bitcoin who doesn’t need to sell.
Diminishing returns doesn’t apply in an accelerating adoption curve.
This cycle is for HODLing. Put “real” prices against coins.
I’m talking Islands in the Caribbean that come with a passport, NYC blocks, energy generators, CRE holding companies etc.
When price accelerates this cycle people won’t dump for inflating fiat. Buyers need to offer real assets if they want to be wholecoiners.
When's the final halving? till then miners have a business. After that, are miners still in business? What will be their responsibilities?
The natural progression will be from miners earning bitcoin with low fees to miners earning larger fees and less bitcoin.. Just makes sense. Miners have to earn or why do it?
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