S68: Bitcoin Halving
ROUNDTABLE (EP 6) | 20 - April - 2024
This is Sirflex speaking, Your Host! GM everybody, i officially welcome you today's space.
ROUNDTABLE (EP 6)
In today's series, I have one poll & one question for you.
// POLL QUESTION
How many Bitcoin Halving have you witnessed?
1. last 4 Halvings
2. last 3 Halvings
3. last 2 Halvings
4. 2024 Halving // QUESTION (ENGAGING)
if you have the opportunity to go back to 2017, which altcoin would you buy & HODL?Bitcoin Halving
At exactly 12:21am this morning, Bitcoin block reward halved to 3.125btc. it will remain like that for the next 4 years or the next 210,000 blocks.
but Michael saylor said the gold rush in bitcoin will last between 2024 to 2034, and at that time, 99% of bitcoin would have been mined.
One of the cool stuffs that interest me the most in blockchain is the way satoshi nakamoto hashed the headline of the british newspaper of Jan 3, 2009. which says
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."
the same day bitcoin network was launched.
i am sure satoshi will be like "enough of this issues," then he press the red button to launch bitcoin and hide that message inside.
!! Are you preparing for bear market?
Remember the rules
Engage the polls, engage the comment section, and show reactions so we can all have a wonderful experience today.
Today's series is sponsored by ADEWALEFLEX,
At the end of today's series, we must have been able to take home 3 things
what is Bitcoin Halving
How do you take advantage of Bitcoin Halving
After Bitcoin Halving, What next?
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What is Bitcoin Halving?
Now before we talk about what Halving really is, the preceding question should be why bitcoin. then Halvinng can be explained significantly.
Bitcoin exists for many reasons Decentralisation, limited supply, Security, Transparency, Global accessibility, Investment Potential, Innovation and the Future of Payment.
but most importantly, Bitcoin eliminate Trust. Do you know bank of America spend up to $1bn to maintain trust. they spend this money to maintain compliance, to maintain regulations, to maintain cybersecurity, to maintain customer service, marketing and branding. and yet, just as recent as Feb 15, 2024, 57,000 records of customer's information was leaked.
when we put this into perspective, Affected customers had personally identifiable information exposed, including names, addresses and Social Security numbers.
Guess how much Bitcoin spent on
compliance - Zero
regulations - Zero
Cybersecurity - Zero
customer service - Zero
marketing and branding - Zero
Then again significantly, another big problem of the traditional system is inflation. for example for the past 100+ years that USD have been the world reserve currency, 80% of the supply was printed in 2020 alone, guess what is backing it? nothing!!
Bitcoin Halving is a way that bitcoin controls inflation of bitcoin by reducing the reward that miners receive for confirming transaction by half!.
note that the only way new bitcoin enters into the market is only through rewarding miners. and miners must show working by putting their resources to work for 10mins to add a new block of records to the bitcoin ledger, in return, the system reward them bitcoin.
How do you take advantage of Bitcoin Halving?
There is a wide spread understanding that if the reward paid to miners are reduced, it creates scarcity, and if the demand of bitcoin are at the same speed or increase, the price of bitcoin will go up.
After Bitcoin Halving, what next?
Correction, Bear Market, you need to understand that a long term in crypto is 4 years which market the complete of a cycle equivalent to 210,000 blocks.
so in mid term view, what's next after halving is bear market, speculatively to be between late 2025 to 2027.
while in long term view, the next thing after this bitcoin Halving is the next Bitcoin halving, which will be in 2028.
Conclusion
Now that you have all of these information, learn, position yourself, be ready for what may come, join integrity based community, don't wither, the game is upon us. S
If you don’t believe me or don’t get it, I do not have the time to try to convince you, sorry! -Satoshi Nakamoto (July 2010) Price of bitcoin: $0.08
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