17.5.2020 | Bitcoin is waiting for the third halving. What can we expect from him?
After every 210,000 mined blocks, there is a so-called halving, ie a reduction in the remuneration for miners for the mined block by half.
What to expect from halving, is it beneficial for Bitcoin, is it sustainable in the long run and why does Bitcoin actually cling to it?
The current halving will be the third in a row, separating us from just over 800 blocks, bringing the reward for the extracted block to 6.25 BTC and will take place with the extraction of the block with the serial number 630,000, which should happen sometime between 11 and 12 May. The first halving took place on November 29, 2012 with a block of 210,000 and most people did not pay attention to it at the time.
The part that paid attention to him was about half and half divided into optimistic proponents of supply shock theory, and the part that watched with excitement whether the network would survive such a blow at all (the reward was reduced from 50 to just 25 bitcoins per block) and the miners they just don't cough it up. The price of one bitcoin at that time was around $ 12, which represented a 40% discount compared to "all time high" and nicely reflected confidence in the future of the network.