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Dee6977  
#1 Posted : Wednesday, May 13, 2020 4:47:37 PM(UTC)
Dee6977

Joined: 4/2/2016(UTC)
Posts: 2,362
Bitcoin: Third Halving in its History

The most anticipated cryptocurrency event has taken place! Bitcoin (BTC), has just experienced its third halving, which happens once every four years. The event took place place at 7:23 p.m. UTC on Monday according to Tradeblock.com.

Block reward path from 50 BTC to 0.00000001 BTC:
There have been three halving events since the first BTC block was generated in 2009 (takes place once every 210,000 blocks mined or plus minus once every 4 years). The first bitcoin halving took place in 2012 and second halving in 2016

Basically, the BTC halving cuts the current miner block reward by 50%. In 2012 the halving cut the original block reward from 50 BTC to 25 BTC. The second halving event in 2016 it dropped from 25 BTC to 12.5 BTC. Both halving events had a positive impact on the Bitcoin price. However, some feel the current halving that has taken place might not change the price at all.

Bitcoin halving events should continue until 2140, this is due to the supply of bitcoins being limited to 21 million coins. By 2140 the block reward should reach 0.00000001 BTC (1 satoshi).

Some experts predict that this event could result in miners stopping bitcoin production and shutting down as most of the miners equipment used to generate bitcoin will become outdated.

Share your thought's on the Bitcoin halving event by leaving a comment to this post.


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