What is Bitcoin Halving Event and it's effect on the market
WHAT IS BTC HALVING
Bitcoin is a decentralized currency and miners help to complete the transaction and rewarded a certain amount of bitcoins whenever a block is produced (a new bitcoin issued every 10 minutes). When Bitcoin first started in 2009, 50 Bitcoins per block were given as a reward to miners and it will mine by using CPU power. After every 210,000 blocks are mined (around every 4 years), the block reward halves and will keep on halving until the block reward per block becomes 0. As of now, the block reward is around 12.5 coins per block and will decrease to its half 6.25 coins per block post halving.
WHEN THE BLOCK REWARDS BECOME ZERO
After halving and halving the rewards become less and less. And it will be 0 approximately by the year 2140.
BITCOIN HALVING DATES HISTORY
- Let's have looked the past halving.*
2012 halving was the first halving and happened on November 28. The halving block was mined by SlushPool by someone using a Radeon HD 5800 miner.
BTC generates Per Block Before Halving: 50 BTC per block.
BTC generates Per Block After Halving: 25 BTC per block.
Price on Halving Day: $12.35
Price 150 Days Later: $125.00
The second halving occurred on July 9th, 2016.
In this time Many mining stations will help and GPU miner is available for the public.
BTC Per Block Before Halving: 25 BTC per block
BTC Per Block After Halving: 12.5 BTC per block
Price on Halving Day: $660.63
Price 150 Days Later: $758.81
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When the next Halving will happen and when all the BTC will mine
As of now, the next halving will be happening on 10th May 2020 and again it happens in 2024. The total supply of BTC is 21 Milion and 98% of the BTC mined in 2030 but the rest of the BTC needs 2140 to complete.
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halving time !!
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