RE: All Time Hive by tarazkp

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hive-167922 · @tarazkp · Apr 25 '20

Thanks. Excited?

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@edicted · Apr 25 '20

$0.07

Not really :D

Still salty about selling out of my Orca position. 

I hope I get my $1200 stimulus check soon. 

However, I've stopped being worried about Bitcoin crashing,
so that's a nice feeling. 

Unfortunately, the only thing bullish about the halving event in the short term is speculation, which could swing either way.  Miners getting their income cut in half is not bullish for the network an day 1.  The security of the network will be weakened as hash-power declines.

👍 tarazkp

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@tarazkp · Apr 25 '20

>Miners getting their income cut in half is not bullish for the network an day 1. The security of the network will be weakened as hash-power declines.

So, the scarcity won't drive price up? is it that the miners will have to sell more?

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@edicted · Apr 25 '20

$0.05

There is no scarcity on day one.  
Scarcity builds up over time. 
Not enough time has passed right when the halving happens,
which is why we see these speculative pump/dumps that try to price in the halving fail every single time. 

Also yes, miner capitulation is also a thing. 
Miners sell all their Bitcoin to pay the power bill. 
However, because the value of Bitcoin is already so oversold, who knows what will happen. 
It's very possible a pump will happen because the lockdown delayed it.

👍 tarazkp

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