Bitcoin halving is the hot topic of a Bitcoin.com video segment, taken during the World Digital Mining Summit 2019 in Frankfurt, Germany.
Several miners participated in the segment. The miner participants include: Marco Streng, CEO of Genesis; Nick Damico, the CTO of Bitpanagonia; Eric P. Yingling, an independent miner; Sean Walsh, the CEO and Chairman of Hyperblock Inc.; Alexander Levin, the CEO of Asiceer.com, Carson Blake, the CEO of SBI Crypto; and Mervyn G. Maistry, the Board Member of Cyberain Mine. In general, this is what the miners had to say, in part, about halving:
Of the questions that the mining industry experts were asked, one was what the expectations are concerning the impact of the upcoming halving.
Marco Streng of Genesis mining stated that halving is a “brutal wipeout” because it removes the non-efficient miners and it shows no mercy.
Nick Damico, the CTO of Bitpanagonia, stated that he is not optimistic about halving in a short time and that the bitcoin price will go down, along with the cash price. Similar to Streng, he took the position that it will be a very “difficult time” for the non-efficient and smaller miners.
Eric P. Yingling, of Independent Mine, took a different approach. He stated that he is not “too worried.” He views crypto in two ways: it will either be worth zero and he will need to find something else, or it won’t.
Sean Walsh, the CEO and Chairman of Hyperblock Inc. stated when comparing both six months before and after halving on both previous instances, you see a “massive upward surge” in the price of bitcoin. For miners, this is a concern, but the exchange rate may make up for it. He also shared that halving “causes caution” on behalf of miners concerning the investment in infrastructure and the like.
Alexander Levin, the CEO of Asiceer.com, stated that he views halving as “overhyped.” And that specifically this year, people have access to cheaper power compared to the past two years.
Carson Blake, the CEO of SBI Crypto, stated that the market will adjust over time in terms of price or the mining difficulty. In a short time, it has a big effect.
Mr. Mervyn G. Maistry, the Board Member of Cyberain Mine, stated that the important thing of the halving in May 2020 is that it will bring down inflation below that of the dollar and the euro. And for the first time, Bitcoin will have advantages over the dollar and the euro.
When asked what the effect bitcoin cash’s halving three weeks before BTC will have, this is what a few had to say, in part:
Levin stated that if people cannot make money on one chain, they will “move to another.”
Yingling stated that the effect of the three-week difference is that there will be a lot of volatility in the short term, but in the long term, not much difference.
Damico stated that “probably a lot of miners” will end up switching to the later ones for the last three weeks, but that will cause the difficulty to increase. This would be the same payment in both.
Thomas Heller, F2Pool Global Business Director, stated that it will be “very volatile” and that people will be switching.