TSXV:BIGG - Post Discussion
Post by
FirstClass on Mar 04, 2024 12:41pm
What is bitcoin halving? READ HERE . MONTHS COMING .$$$$$$$
What is bitcoin halving?
Bitcoin halving is an event that has occurred about every four years since the cryptocurrency’s inception in 2009. Halving dates won’t directly affect bitcoin holders, but they involve actions behind the scenes that could bode well for the asset’s future value.
In a nutshell, halving has to do with bitcoin mining — the process by which transactions are verified on the blockchain and new bitcoins are entered into circulation. Miners are computers that create bitcoin, which happens by solving complex mathematical equations. Anybody from a hobbyist miner using their home computer to giant corporations with barns full of mining rigs can use their computing power to create bitcoin. When one of these computers solves a problem, the network rewards the miner with the newly minted bitcoin, thereby growing the total number of coins in circulation.
However, there is a finite number of bitcoins that can be mined — 21 million to be precise. With 19.6 million currently in circulation, only 1.4 million are yet to be mined. When a halving event occurs, the bitcoin protocol cuts in half the number of coins awarded to successful miners. Since 2020, miners have received 6.25 bitcoin for solving a problem. When the next halving occurs, miners will only receive 3.125.
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