POSSIBLE PRICE OF BITCOIN AFTER HALVINGπŸš€πŸš€πŸš€

in bitcoin β€’Β  5 years agoΒ 

Every four years, the Bitcoin(BTC) protocol halves the block reward that miners receive when they contribute a so-called β€œblock” of transactions to the blockchain. As of the moment, the reward is 12.5 bitcoins per block. The next halving will occur, soon, in mid or third week of May 2020.

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What is the Bitcoin Halving?

  • In this video that "Based on the probabilities not to speculate", I explained how halving affects the bitcoin price! In, written form "the β€œhalving” refers to a pre-programmed 50% reduction in the compensation to nodes that maintain the bitcoin network. These are called β€œminers.” Bitcoin miners group transactions into blocks and add them to the blockchain. This requires considerable computing power, which incurs a cost. To compensate for this cost, the bitcoin protocol automatically includes a fixed amount of new bitcoins in each transaction block. When a block gets successfully added to the blockchain, the miner that processed that block gets to keep those bitcoins. These are known as the β€œminers’ subsidy” or β€œblock subsidy,” and part of the β€œminers’ reward” or β€œblock reward” (along with transaction fees). As well as compensating bitcoin miners for their work and expenditure, the reward mechanism controls the issuance of new bitcoins. Miners are the first owners, and can sell those bitcoins into the market via exchanges or OTC desks." Read more here! https://www.coindesk.com/crypto-investment-research/bitcoin-halving-2020-research-report

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bitcoin halving cryptocurrency
5 years ago by

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