Bitcoin mining reward halved apple
Many of you may not know that Bitcoin's mining rewards are halved every 3 to 4 years, let me shed some light on this for you. The definition of halving is to divide equally among equal parts. Bitcoin mining reward halved apple you cut an apple in half and then cut those halves in half you have 4 equal portions. Many people are confused by this and don't take the time to learn what it means, today I will try to explain to you all this process in simple terms.
It took 3 years and 10 months for the first halving to occur. About every years Bitcoin will continue to halve. Once miners have unlocked this many Bitcoins, the planet's supply will essentially be tapped out, unless Bitcoin's protocol is changed to allow for a larger supply. It may seem that the group of individuals most directly effected by the limit of the Bitcoin supply will be the Bitcoin miners themselves.
There will be no more block rewards, every single miner will have to rely on transaction fees to continue operating! I am currently working in association with samstonehill on the following projects:. Join us on Discordwe don't bite. Avid graphic designer, if you want a Gif like above made by me or a banner like below contact chron on Steemit. Does halving also have to do with rising difficulty? I'm gonna say bitcoin mining reward halved apple by bitcoin will be worth 75k.
Thanks for doing you part to clear the fog. Also I learned about witness and voted once so far. If it becomes harder to transfer money would there not then be a better solution that presents itself? Aren't reward and difficulty connected somehow? I would very much reccomend reading this post by my friend.
It is very difficult and the people on top may bitcoin mining reward halved apple that! They want BTC to be a gold which can only be bitcoin mining reward halved apple out with multi-hundred or even thousand dollar fees I believe.
I believe another coin with better technology less fees, quicker transaction like Bitcoin Cash will be the "best crypto method of exchange of the future".
Thanks for the info. I have great hope that BTC will reach great value only if they cap it at 21 million. It should have its place as the coin that leads them all for a long time. I do think the other more useful and faster coins will gain in value also but their numbers will keep market value much lower. Now I see why there are bitcoin forks. So this way people who hoard it will remain with some value for bitcoin mining reward halved apple time I guess.
What do you think? But that isn't where it ends, Bitcoin's bitcoin mining reward halved apple could even replace Bitcoin as they have not halved yet and therefore extremely profitable to mine if the forked coin like Bitcoin Cash reaches the value of Bitcoin.
I was unaware of the halving of the mining rewards. Thanks for the info! I wonder how it will affect the price? We'll find out for sure on June 12th I guess. I wonder if the next halving event will be multiplied by 5 if other Bitcoins will be halving too hehe. Oy, if only I had been around at the beginning.
It shall be interesting what happens when we reach the endpoint. With transaction fees bitcoin mining reward halved apple so high as to make it hard to spend BTC, I worry they will jump even higher. Yup, I think btc could have doubled or more in transaction fees by then to be able to pay the miners. That was very informative. I probably need to understand this concept more being a newbie.
What Is Bitcoin Halving? This means for every 1 block "mined" the miners would receive 50 Bitcoins as a reward. The last block to be rewarded 50 Bitcoins was Block at roughly 3PM global time.
Going from 50, 25, It will keep halving until all 21 million bitcoins mined. Individuals must take the time to teach the masses about this amazing currency of the future. What will Bitcoin be worth at the next halving? What do you think of this wallpaper I made? I am currently working in association with samstonehill on the following projects: Authors get paid when people like you upvote their post.
Not difficulty, it is to do with rewards. It may become harder to transfer money. But the future will be interesting because of all the forks. Did you see Bitcoin Cash? It rose to ? Could be the new BTC Yes, I believe so.
Thank you for commenting, enjoy Cryptoland! So that mean infinite division of bitcoin?? Thank you for explaining this so well. Glad bitcoin mining reward halved apple learnt something.
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