Decred Price After Halving Bitcoin

Well, what most ppl will mostly do is this: trade every piece of crypto they have to BTC before the block reward split, then re-buy crypto from the profit they made after the block reward split.

It will create quite a mess. Every crypto will be badly shacken. Will be sure fun to watch!

 

I predict that the halving is already baked into the Bitcoin price I expect stability at or around the $400 level. I believe the price of bitcoin will have little impact on DCR.

In the short term the price of DCR will trend down slightly as buyers will acquire their target goals and new coins will be made available faster than demand.

Having a large amount of coins locked in the staking will help for a while but ultimately people may choose not to stake at some level.

I expect that as DCR gets a GUI wallet and then is placed on Polinex there will be a pump/dump...likely those with a lot of crypto assets will acquire whenthe price is low. Again I would expect a price target near .003 (maybe $1 USD) in the 1-2 month time-frame.

How/when the dev team chooses to spend their allotment of DCR, and the transparency of that spending will also heavily impact the trust/price relationship.

If DCR is still under development after ~6 months to a year and survives the pump...then we may see some real price stability/growth.

 

I really hope it doesnt hit the $1 mark id cry lol, but it is dropping and dropping steadily.

 

As @Bagdar13 mentioned, the halving of the Bitcoin mining reward does not necessarily have to have an impact on the price of Decred. It depends on a lot of other factors (market price, adoption, transaction volume, hashrate, difficulty, investments, other currencies, world market conditions, etc.). However, there are some people who expect that this event could be very dangerous Bitcoin... Let me explain.

The true added value of digital currencies is that they are decentralised. There is no central authority who can influence / manipulate the market (like central banks). The 2016 reward halving will significantly reduce the profitablility of mining bitcoin on a small scale. It is to be expected that a lot of small miners will pull out, because mining is simply not profitable for them anymore. This leaves large pools, mining companies, and institutional investors in charge of the mining proces, which increases the chance of a 51% attack.

Since Decred is a truly decentralised currency, we may actually attract more investors as the halving event is approaching. Furthermore, should Bitcoin indeed face centralisation issues, we will see an increase of prominent miners / developers joining the Decred project. Example: the RFP6 has already attracted 10 parties who will set up and run a stake mining pool.

Of course, nobody holds a crystal ball. But to me it seems that there is a bright future ahead.

 

Significantly more then 10... There is a wait-list. And it is not a trivial thing either. It will take some commitment of time from all the parties. (And money, but the time is more significant.) This shows an interest in decentralization that is very significant.

 

Any reason for the falling price of Decred now?

 

Sure. Too many sells. I think it's called market forces in english, but english is not my first language so I could be wrong.

 

I think you'll find all the early speculators that bought in case of a price bubble (where the price rises by a huge amount in a short time then falls back it's previous level) are exiting now they know the bubble is not going to happen. As I've mentioned elsewhere, Decred is now in the slow burn phase where the initial excitement that drove the price rise is over. I expect the price to drop for a little while then stabilise. The fact that it's a slow decrease is a good sign; It means people do want to sell, but not quickly as you'd expect in the case of problems with the currency.

Remember that outside of the crypto community Decred is not very well known and it's a very new currency (2 months old) in a sea of other currencies that are years old. As it matures and gain recognition, the price will increase again. If you've been on this site for any period of time you know the devs are committed to making this currency work so it's stable and development will continue to make it more competitive.

The last thing we'd want is an overvalued DCR that crashes as this would destroy confidence in the currency as people would just see it as pump and dump fad coin.

Plus look at it this way: There's no better time to buy DCR

 

There is one point that I don't like about Decred compared to, let's say, Ethereum.

Visibility.

Nowhere you see Decred being represented / talked in the press. A good idea is not everything, you need to be able to sell it.

It won't sell itself. There is a company called ''Company 0'' behinds DCR. As you can see on their website, there is nobody in charge of PR: https://www.companyzero.com/our-team.html

Just a bunch of geeks, like us.

 

I think we need to get out of alpha before pitching this to anyone. People always forget that this totally new codebase written from scratch, not trusted & tested codebase like bitcoin which has 10 year of development behind it and multiple code reviews from 100s of people. I hope we can get other coin devs and programmers to review the code for us so that it becomes robust and reliable. There are still many serious bugs being solved with every release. People are still having problem with incorrect balances. Its still alpha software. i dont want a merchant to use this and have incorrect balance and having to recreate wallet from seed.

 

Totally agree. It's coming along really well, but it's not ready for mainstream adoption just yet.

 

I totally agree with everything that you said, but think for DCR to be a success on any level we (the development community) backing DCR need to come up with unique applications and use cases. What cam DCR solve, outside of blockchain related issues? Can we use it to power something with better efficiency than BTC, etc.?

I think this is where the focus should lay for non-core developers looking into this platform. We know DCR will not be involved in Smart Contracts, at least not in a native format. We know that it will, however, be able to process transactions much quick and to scale than BTC.

I would love to see a community hacknight/weekend via Slack/Trello.

 

@toad Here is something you can do: https://forum.decred.org/threads/calling-all-tweeters-redditors-and-other-advocates.276/

As for major PR events (interviews/publications/features), I agree with @sambiohazard that it is way too early.

@mreichardt Submit your ideas! https://forum.decred.org/threads/what-does-the-software-need.600/

 

I agree but I also think a bit of PR + pré-release interviews on some bitcoin podcast to maintain the excitement/interest in Decred would be good.

 

I hope, bitcoin will become more and more expensive. A lot of people started to trade and even to use special tools for this purpose. And I am happy to be among them and use these utilities.