Just reminding everyone, it’s probably 365 days away! – David
What do I mean by this? Read below.
Bitcoin has a unique mechanism – the “halving” event, which occurs roughly every four years. The first took place in November 2012, followed by July 2016 and May 2020.
At Bitcoin’s inception in 2009, miners received 50 BTC per block, but this “reward” halves each time a halving occurs. It’s a mechanism that’ll run until 2140 when the last of 21 million BTC will be mined.
Richard Baker, the head honcho at blockchain service provider TAAL, shares an intriguing perspective. He suggests that future halvings may trigger miners to seek higher transaction fees elsewhere, potentially making Bitcoin’s network less secure.
However, Patricia Trompeter, CEO of Sphere 3D Corp, a crypto mining firm, sees a silver lining. She believes halvings, by reducing the influx of new coins, could amplify Bitcoin’s price if demand remains high. This price boost could counterbalance the miners’ reduced rewards, maintaining the allure of Bitcoin mining.
While these predictions intrigue, their actual impact is still up for debate. In essence, the halving phenomena continues to be a fascinating aspect of Bitcoin’s journey. – Speaking of journeys… Make your journey easier with a bespoke article from us at TGM! Send us a DM (tell them David sent you) on Twitter with “BITCOIN HALVING”, to discuss what we can do to make your journey more lucrative!