NatureHacker | Bitcoin Halving: How the halvening may spell the demise of bitcoin big freeze cold heat death @NatureHacker | Uploaded July 2016 | Updated October 2024, 17 minutes ago.
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Charts: (only chart missing is fees per transaction) blockchain.info/charts
What we expect to see is a massive mining revenue drop (dropped 3x) then a hashrate drop from miners shutting down operations because it became less profitable. With a hashrate drop we will see an increase in confirmation time which will lead to an increase in total transaction fees and transaction fee per transaction. This will lead to a reduction of transaction volume. Bitcoin will die a cold death as transactions tend toward zero and mining revenue tending towards zero. And finally bitcoin price will drop as the currency becomes unusable and people cash out. Bitcoin will be fully frozen to death with virtually zero transactions before 2025 and will be worthless.