***@paragism also consider that if miners were to sell off fast their transactions as well as the buys would create a lot of blocks to alive and thus boosting the underlying workout for other miners and thus although the workload escalates the miners themselves aren't breaking a sweat and one may be quick to say, "Yeah @skillz but power consumption would rise and offset their profit!". Nope not really, I won't bore you with the analytics but most miners machines are working 24/7 OCed and revving and regardless of the workload power consumption is pretty stable, in fact miners rely on it to do so...so if miners bailed, those left would pick up their workload and rewards, transactions may take longer but somewhere a miner that was willing to "hodl" out is getting paid. 😎 **
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The whole argument is based on the death spiral of bitcoin. It is an imaginary situation when hash power becomes zero due to low profitability of the miners.
There are a lot of other factors which influence price.
Understood...however that's a very improbable possiblity. I was simply making a point that halving isn't going to negatively affect bitcoin's value long term and as such, to proclaim Bitcoin to be in a "death spiral" is imaginary indeed 😋.
Death spiral in POW is a theoretical established concept. I am not saying whether halving will lead to price drop or not. The cited incidence is obviously imaginary.
👍 ... Sorry I didn't mean to sound argumentative, I enjoy all your blogs and love all here in the HIVE community. I really hope to see HIVE prosper as well as BTC, not just because I'm vested in both but the members on the STEEM and now HIVE block chain are really great ppl and we all strive to build each other up and that's hard to find these days. Thanks man for great blogs and positive replies. 😇 #HIVEON