TOP CRYPTO TWEETS: BTC Halving and Buy the Dip Hype Tested

BTC

TL;DR: CoinSpice scours the Twittersphere to shine light upon the top crypto tweets of the week. The third halving of BTC, slowing the block reward inflation, will have an impact on the ecosystem. It’s anyone’s guess as to exactly what, but that has not stopped hype and hopium masters in their incessant fear of missing out (FOMO) predictions as May 11, 2020 looms and passes. 

#13 BTC Halving and Buy the Dip Hype Tested

By now you’re familiar with the basics. The BTC baked-in block reward halving will activate on May 11, 2020, slowing the rate of coin inflation going forward and slashing the immediate profits of miners in at least the immediate shorter term. The issue has been analyzed to death, and the security concerns are well-understood: should the spot price not follow in kind, beating the 50% haircut, it could mean smaller-scale miners and data farms are toast.

What is less understood is how exactly the concept of digital scarcity, BTC’s hard money property of limiting supply, impacts speculative prices. Much of the hype surrounding BTC at this moment in time involves charts showing price run-ups after previous halvings, hundreds of percent increases attributed to increasing demand combined with decreasing coin supply.

Scarcity alone, however, which is often the only selling point of BTC, isn’t enough for serious, sober investors. It might be sufficient for day traders and gamblers to jump in and out of speculation markets, riding waves of hype and mania and economic downturns, but a cryptocurrency’s utility ultimately drives long-term value. On that score, BTC at this point is losing on the adoption front. After FOMO subsides and folks try to use BTC … high fees, slow network … it’s pretty easy to understand why the price dumps suddenly and rather dramatically.

#12 Proof of Poster

#11 MMA Fighter Breaks it Down

#10 Buying the Rumor

#9 Last Chance …

#8 HEX Maximalism

#7 Fundamental Difference

#6 Title of the White Paper

#5 Hey, It’s a Start

#4 Pants on Fire

#3 Threat to Community Decision-Making

#2 Dumb Trolls

#1 Imagine

halving

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DYOR: CoinSpice is your home for just spicy crypto things. We’re not affiliated with any cryptocurrency project or token. Each published piece is intended for information purposes only, not investment advice and not in the hope of impacting speculative markets. There are plenty of trading sites and coin-specific advocacy journals out there, we’re neither. CoinSpice strives for rigorous accuracy in our reporting. Information presented here is contingent usually on a host of factors, and the ecosystem moves fast — prices change, projects change, and at warp speed. Do your own research.

DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.