Bitcoin Halving 2024 Explained
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Bitcoin halving refers to the
Bitcoin halving refers to the process of reducing the reward that Bitcoin miners receive for verifying transactions on the Bitcoin blockchain. It happens approximately every four years or after every 210,000 blocks are mined.
When the Bitcoin network was first launched in 2009, miners received a reward of 50 Bitcoins for each block they mined. In 2012, the first halving took place, and the reward was reduced to 25 Bitcoins. In 2016, the reward was reduced again to 12.5 Bitcoins, and in 2020, it was further reduced to 6.25 Bitcoins.
The purpose of halving the reward is to control the supply of Bitcoin and ensure that the number of Bitcoins in circulation does not exceed 21 million. By reducing the reward that miners receive, it becomes harder to mine Bitcoin, and the rate at which new Bitcoins are created slows down.
The reduction in mining rewards also has an impact on the price of Bitcoin. Historically, the price of Bitcoin has tended to increase following a halving event. This is because the reduction in supply can create a scarcity effect, leading to an increase in demand and therefore an increase in price.
Overall, the Bitcoin halving is a critical mechanism for maintaining the integrity and sustainability of the Bitcoin network by ensuring that the supply of Bitcoins is controlled and that mining remains profitable.
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Views shared are only the personal options of Armando Pantoja. Armando Pantoja IS NOT A FINANCIAL ADVISOR! Trading involves real financial risk. There is always the potential of loss when investing/trading in any financial asset. Armando Pantoja Is not liable for any potential financial losses incurred from (including but not limited to) the CNC Discord Group and its members or any courses purchased. By purchasing a n product, you fully understand and accept these risks. Armando Pantoja does not provide legal, tax or accounting advice.
When the Bitcoin network was first launched in 2009, miners received a reward of 50 Bitcoins for each block they mined. In 2012, the first halving took place, and the reward was reduced to 25 Bitcoins. In 2016, the reward was reduced again to 12.5 Bitcoins, and in 2020, it was further reduced to 6.25 Bitcoins.
The purpose of halving the reward is to control the supply of Bitcoin and ensure that the number of Bitcoins in circulation does not exceed 21 million. By reducing the reward that miners receive, it becomes harder to mine Bitcoin, and the rate at which new Bitcoins are created slows down.
The reduction in mining rewards also has an impact on the price of Bitcoin. Historically, the price of Bitcoin has tended to increase following a halving event. This is because the reduction in supply can create a scarcity effect, leading to an increase in demand and therefore an increase in price.
Overall, the Bitcoin halving is a critical mechanism for maintaining the integrity and sustainability of the Bitcoin network by ensuring that the supply of Bitcoins is controlled and that mining remains profitable.
CNC Community/Discord: https://www.ajpantoja.com/join-the-cnc/
My Courses: https://linktr.ee/TallGuyTycoon
INSTAGRAM - Instagram: tallguytycoon
TikTok - TikTok: tallguytycoon
LinkedIn - LinkedIn: tallguyty..
Please feel free to leave a comment below! Thank you all so much for watching the video. If you enjoyed the video, please consider dropping a like, subscribing, and ringing the bell icon.
FINANCIAL DISCLAIMER
Views shared are only the personal options of Armando Pantoja. Armando Pantoja IS NOT A FINANCIAL ADVISOR! Trading involves real financial risk. There is always the potential of loss when investing/trading in any financial asset. Armando Pantoja Is not liable for any potential financial losses incurred from (including but not limited to) the CNC Discord Group and its members or any courses purchased. By purchasing a n product, you fully understand and accept these risks. Armando Pantoja does not provide legal, tax or accounting advice.
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