Copied From@Salid
What is #Halving , and how might it double Bitcoin’s price? Companies are buying Bitcoin, but why? Isn’t there a dip coming?
Well, let’s reveal the mystery.
Halving means a reduction by half. No, don’t worry! The bitcoins in your wallet, won’t get halved. Bitcoin had a function, with this, it kept reducing the mining rewards by half after a specific number of blocks (of transactions).
Let’s learn how “The Bitcoin Cycle” works.
When you are sending your Bitcoin to buy your favorite NFT, you just enter the receiver wallet address and then forget and start scrolling Facebook. You don’t know what is happening behind the scenes.
You check after a while and still see the NFT marketplace is waiting for 3 confirmations. Then you search for Blockchain Explorer, enter the wallet address or transaction ID, and find that only 2 confirmations are made.
Who is making the confirmation? Who is behind the whole Bitcoin system? My dude, there is no central server. There are thousands of dudes like you, who are buying graphics cards and powerful cpus like you, but not for gaming like you, for mining . No, I’m not talking about Minecraft. They are mining Bitcoin!
There are thousands and thousands of miners, who set up thousands of server computers to mine Bitcoin. They calculate transactions and blocks, providing safety and stability to the blockchain of Bitcoin. Obviously, Their mom and dad aren’t happy, but why should they care? They are greeting fresh Bitcoins in their wallet as a reward.
Even you should not care if you can now make money by posting on Square. You know Squared announced a challenge called #HotTrends ?
Okay, so #BTC halving means, dude you will still pay the same network fee while buying Dinosaur NFT or Monkey NFT. But our heroes, miners will get half of the purest Bitcoin they used to get. So in a few years, Bitcoin volume will be half. That means the price will become 2x.
