What is #BitcoinHalving
For every four years, on average of 210000 blocks (according to a statement in bitcoin code), there will be a 50% reduction in the #bitcoin
block reward. This halving first happened in 2012, again in 2016, next in 2020, 2024 and so on.
Bitcoin block rewards through years:
2009 - 50 BTC
2012 - 25 BTC
2016 - 12.5 BTC
2020 - 6.25 BTC
More than 17.5 Million #BTC
mined till today, that's about 83% of the total bitcoins ever to be produced.
wanted btc to be self-sustained like gold, As he wrote in the #whitepaper
“The steady addition of a constant of amount of new coins is analogous to gold miners expending resources to add gold to circulation. In our case, it's CPU time and electricity that is expended." Why #Halving
The primary objective of halving process is to control the supply of the bitcoin. If Satoshi slowly reduces the reward rate per block over the time, then there will be a more extended period where the mining results in receiving a block reward.
The final bitcoin block will be mined sometime in the year 2140 and what happens after that? As per #SatoshiNakamoto
- “Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation free.” 2. Post 2 halvings in 2012 and 2016, The bitcoin saw a massive increase in the prices.
Simple: If the number of new bitcoins every 3-4 years appears to get reduced, then the limited supply will help the price to go up steadily!
3. So make sure to invest and #hodl
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