What Is Bitcoin Halving?
The April #Bitcoin halving is only a few weeks away .Many people have been wondering what Bitcoin Halving means, what to expect after and how can it even benefits the marketing.
Well Your wondering has come to an an end, because i bring all the answers with me.
→ What Is Bitcoin Halving?
The #Bitcoin Halving is a scheduled event in the Bitcoin network that occurs approximately every four years. when Bitcoin's mining reward is split in half. Meaning, if you are a validator, what ever your earn as fee incentives will be divide in half.
It takes the #blockchain network about four years to open 210,000 more blocks, a standard set by the blockchain's creators to continuously reduce the rate at which the cryptocurrency is introduced.
Previous halving dates were:
Nov. 28, 2012, to 25 bitcoins
July 9, 2016, to 12.5 bitcoins
May 11, 2020, to 6.25 bitcoins
The next halving is expected to occur in April 2024, when the block reward will fall to 3.125 BTC.
→ What to expect after
Now, why do they do this? Well, it's all about keeping Bitcoin scarce, like a rare Pokémon card or that last slice of grandma's homemade pie.
By reducing the rate of new Bitcoin coming into existence, they're basically saying, "Hey, this stuff's precious, let's not make too much of it."
But it's not just about making Bitcoin feel special; there's some serious economic stuff going on too. See, when the rewards get cut, it messes with the economics of mining. Miners are suddenly getting fewer Bitcoins for their efforts, which can make their operation less profitable than a lemonade stand in the winter.
Some might even decide to hang up their pickaxes and call it quits, while others scramble to upgrade their gear to stay in the game.
→ How will it even affect the marketing?
Well if you ask me, i will say POSITIVELY.
Within 2 to 3 months After the last Halving in May 2020, the market took a positive turn and there was joy in the crypto-vers.
So brace yourself because we are about to take a fun ride.
Happy Trading.
