BTC Halving
🌟For today's topic for discussion, we are looking at BTC Halving.
💡Embedded in the Bitcoin code is the hard cap of 21 million coins. New Bitcoin is released through mining as block rewards. Miners do the work of maintaining and securing the Bitcoin ledger and are rewarded with newly minted Bitcoin.
However, about every four years, the reward for mining is halved, and each halving reduces the rate at which new Bitcoin enters the supply, a process that likely will last until 2140.
• 2009 – Bitcoin mining rewards start at 50 BTC per block.
• 2012 – The first Bitcoin halving reduces mining rewards to 25 BTC.
• 2016 – In the second halving, mining rewards go down to 12.5 BTC.
• 2020 – In the third halving, mining rewards drop to 6.25 BTC.
• 2140 – The 64th and last halving occurs and no new Bitcoin are created.
Historically, after previous halving events, the price of Bitcoin has increased—but not immediately, and other factors have played a part.
❓Crypto Sapphires, Do you think that BTC price will increase with next BTC Halving which will schedule on 2024? Or will the BTC price be not affected by the BTC Halving on 2024?📈🤔
🤔🤔 Bitcoin miners invest money in specialized mining hardware as well as the electricity required to run their rigs. The cost of this is offset by their mining rewards, but what happens when their rewards are halved? Don't you think this is inconsiderate considering the increasing cost of hardware, energy and inflation in our society? Rather than miners reward getting halved every 4 years, don't you think it should rather be doubled?
🗳️ Share your thoughts and let's interact.👥
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