Bitcoin Halving, Explained

Bitcoin Halving, Explained

From coindesk.com

The Bitcoin halving countdown continues to May 2020. What is the halving, how will it affect the price, and what does it mean for miners and the cryptocurrency's long-term prospects? Here's everything you need to know. “The halvening" sounds like a horror movie about an ax murderer. But it's actually the nickname for one of the most hotly anticipated events in Bitcoin’s history. Sometime in May, the number of bitcoins (BTC) entering circulation every 10 minutes (known as block rewards) will drop by half, to 6.25 from 12.5. It's a milestone that's easy to see coming because it happens every four years and has ... (full story)

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Not-KPMG

Mar 24, 2020 4:29pm — Edited

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Lemme explain as simple as possible

Today they mine 4 bitcoins.

👍

Tomorrow they mine 2 bitcoins

👎

Same effort, same computers, less issuance of Bitcoin.

Ok?
Simplified duhhh🤔

Today they (smart people) buy 4 bitcoins.

Tomorrow they want to buy 4 bitcoins..... but there isn't. There is only 2 😲😲 (ready to sell because the first 'they' have to pay electricity bill🤔 ).

Question: What's the price gonna do???

TudorIoan

Mar 24, 2020 11:32pm

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Quoting Not-KPMG

Disliked

Lemme explain as simple as possible Today they mine 4 bitcoins. Tomorrow they mine 2 bitcoins Same effort, same computers, less issuance of Bitcoin. Ok? Simplified duhhh Today they (smart people) buy 4 bitcoins. Tomorrow they want to buy 4 bitcoins..... but there isn't. There is only 2 (ready to sell because the first 'they' have to pay electricity bill ). Question: What's the price gonna do???...

Ignored

Lemme explain, today my dog pooped 4 times.
Tomorrow it will poop 2 times.
That doesn't make doggy doo more valuable.

Conclusion: who the fuck is buying dog shit anyaway ?!?

Bitcoin just proved it has no utility.
Scarcity without utility it's meaningless... for the sane people

.. but fools will buy crypto shit forever

TudorIoan

Mar 24, 2020 3:57pm

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Explained? Again? Explain it to Not-KPMG !
He $till thinks that a logarithmic chart and low supply on some worthless shit will make the bitcoin shit more important and valuable