You don’t have permission to view this page. Please include your IP address in your email. Bitcoin just experienced a major milestone in bitcoin mining reward halved orange short little lifespan.
When the code for Bitcoin was written, it was designed to be a currency with no more than 21 million bitcoins ever in circulation. Satoshi created a reward that went along with each block. When Bitcoin was first created, the reward was set at 50 bitcoins per block mined. And, the code specified that every 210,000 blocks mined that reward would be cut in half, until it eventually is reduced to zero after 64 halving events. So, today was the second ever halving in the history of Bitcoin. But what does it mean for ME? Ok, enough of the history lesson.
You probably just want to know how this will effect the price of bitcoin. BTC price would have simply doubled, to compensate for half as much bitcoin being rewarded. This logically would make sense, since the cost of mining isn’t changing at all, and without a doubling of price miners are instantly seeing their revenue cut in half. But we all know markets aren’t perfect. So the best we can do it guess. And the most logical conclusion is that any pricing effect from the halving has most likely already happened due to the market anticipating it, and is probably one of the main reason for the huge price increase over the past 6 months. Everyone enjoy their halvening parties, and if you don’t get the chance to celebrate just remember we have 30 more halvings ahead of us.