What Is Bitcoin Halving?

A bitcoin halving is an event where the reward for mining new blocks is halved, meaning miners receive 50% fewer bitcoins for verifying transactions.

After the network mines 210,000 blocks—roughly every four years—the block reward given to Bitcoin miners for processing transactions is cut in half. This event is called halving because it cuts the rate at which new bitcoins are released into circulation in half.

This rewards system will continue until about 2140, when the limit of 21 million Bitcoin is reached.

In 2009, the reward for each block in the chain mined was 50 bitcoins. As of April 2023, about 19.3 million bitcoins were in circulation, leaving just around 1.68 million left to be released via mining rewards.

The next bitcoin (BTC) halving is likely to occur in April 2024 and could have a dramatic impact on the cryptocurrency’s price.

Bitcoin halvings are important events for traders because they reduce the number of new bitcoins being generated by the network. This limits the supply of new coins, so prices could rise if demand remains strong.

When Did the Bitcoin Halvings Happen?

There have been three halvings as of April 2023:

Nov. 28, 2012, to 25 bitcoins

July 9, 2016, to 12.5 bitcoins

May 11, 2020, to 6.25 bitcoins

Why Are the Halvings Occurring Less Than Every 4 Years?

The Bitcoin mining algorithm is set with a target of finding new blocks once every 10 minutes. Some blocks take more than 10 minutes; some take less. This can decrease or increase the amount of time it takes to reach the next halving goal. For example, if blocks consecutively average 9.66 minutes to mine, it would take about 1,409 days to mine the 210,000 blocks required (four years is 1461 days, including one day for a leap year).

What Happens When There Are No More Bitcoins Left?

It is often thought that in 2140, the last bitcoin will be mined. However, if the reward is halved every 210,000 blocks, there will always be a mining reward—assuming the blockchain still exists at that time. The reward will just get smaller and smaller every time there is a halving if the practice continues.

#bitcoinmining

#bitcoin

#bullorbear

#halving2024

#halving

Oh, my GOD (OMG)! Please try to concentrate on how Innocent Traders Lose Their Money 💰 during trading. They lose money because they don't understand what tricks are in the crypto space. Look at the picture the way stop loss hunter looks like😂.

You feel confident that everything is good but in the end, your stop loss will be canceled which will lead you to set another trade emotionally. What will happen to your crypto asset if you repeat this behavior putting stop losses many times? The answer is no money will available in your wallet 😂. Do you understand what I'm saying?

The best is to wait until the market is in a good position and beautiful things know where whales will enter the market and what time leave the market. Whale 🐋🐳 are the biggest players in the Crypto market who change the market at any time.

So we ought to study daily to avoid rushing into Trading. Just imagine from the above picture do you see how innocent traders are being trapped and finally losing their money. Guys, it is too painful 😖😣, especially for newbies who dislike learning.

My warning ⚠️ to all newbies it is better to buy and hold your assets and then wait for a couple of years to make sure your crypto price has appreciated rather than trading. The skill of trading is very expressive it needs a lot of time to study many secrets.

The place to learn is Binance Academy better to be there or try to navigate Binance feed to read several articles from Binance Feed Creators. Also, you should make sure to do your research before investing in Cryptos because no one is perfect in Crypto.

Please click on the word Foll@ow next to the nickname Cryptography so that you will keep enjoying beautiful articles and posts which will lead to being a pro-Trader and Hodler for your own benefit!

#crypto2023 #bullorbear #futures $PEPE $ $LUNC $BSW