LEARN AND EARN Challenge - "What is Bitcoin Halving ?"


unknown.png

Hello Everyone!! I hope you are all having a great day? I guess you should and if you are really not having a great, I'm quite sure this post will surely make your day more lively and fulfilling πŸ’ͺ😊.

My meeting with Project Hope Team

images (10).jpeg

I had a lengthy conversation with @project.hope team about ways in which we can reward users who make quality comments on this platform because I do believe everyone has the right to be rewarded for their activities on the platform. It's really so boring after making quality post and you end up with little or no comments sometimes and it really feels good when you really learn from other people's opinion or thoughts about your post. This really makes the platform more engaging and interactive!

The team out of their compassionate act and good vision for the community agreed to my claim and they gave a condition that they are ready to support this cause provided every users will share their knowledge on topic given by the content creator just by making quality comment within 50 - 300 words on the topic at hand. This implies that every single user who is able to make quality comment about the topic posted by sharing their ideas and perception about the topic will surely receive a cool amount of upvote from the community account (the upvote is gonna be between 100k - 200kSP depending on the comment quality).

After hearing from the team part, we both concluded and we've actually decided to give it a trial just to observe if everyone is really gonna be interested in sharing their knowledge with us through the comment section about the topic posted and earning cool upvotes in return for their quality comments. This is why we've decided to give the challenge tittle Learn and Earn!!

What is Learn and Earn all About?

Learn and earn is just about you making valuable comments about a particular post by sharing your ideas and knowledge in the comment section of the post just to make others learn from your comment and you get rewarded for sharing your ideas in return. Remember you are just to make a good comment between 50 to 300 words!

THE TOPIC FOR TODAY IS BITCOIN HALVING

20200510_142714_0000.png

There is actually no doubt that Bitcoin halving has actually been one of the trending discussion in the crypto space today and I'm quite aware most of us might have one or two things to say about Bitcoin halving.

In the comment section, you'll be sharing your view about:

  • what Bitcoin halving is all about
  • how does it affect bitcoin demand, supply and inflation
  • what were your bitcoin price expectations after recent halving and did your expectations came true".

Who can take part ?

The challenge is open to everyone reading this post 😊

Motive behind the the challenge?

To reward users who engage in quality comments by sharing their ideas and knowledge about the topic.

To also make the platform more interactive and more engaging which tends to develop a sense of great between interaction users.

To share knowledge and increase learning activities amongst users on the platform.

How do you take part?

To take part in the challenge, you need to write a comment under this post that explains your idea about Bitcoin Halving.

The following rules have to be observed:

  • The comment has to be in English
  • Only one entry per account
  • Between 50 and 300 words
  • No external posts – only comments to this post will be accepted
  • The comment has to be posted before this post payout.
  • Subscribe to Project Hope
images (44).png

**Thanks for your time and much thanks to @project.hope team for their support and my special thanks goes to @crypto.piotr for his positive impact on the platform.
I hope you all have a great day ahead with love from @hardaeborla. Good Luck!! 😊**


Comments 163


Greetings for your content and posture, since everyone has their own way of thinking, but you have to stay active by sharing ideas and knowledge, because everyone manages their ability for something interesting

13.05.2020 17:15
0

Hi @newton666

Join this initiative. Find your own way to write what Bitcoin halving is. Learn something new and share that knowledge with others. On the way - improve your english, just like all us non-native english speakers do :)

And the best part is, that you can be rewarded just for trying. Let's make our community alive.

Yours, Piotr

13.05.2020 19:39
0

since everyone has their own way of thinking, but you have to stay active by sharing ideas and knowledge

We all think differently most especially when it comes to knowledge. This is why challenge like this is created so that we can also learn from you about the topic at hand.

I'll be expecting to know your opinion or thoughts about this current topic.

Thanks for your time 😊

13.05.2020 21:32
0

Dear @hardaeborla and @everyone else

I hope people within our community will like this initiative.

Idea is that we all could learn something new, something potentially valuable, and then share with others what did we learn and be rewarded for doing that.

ps.
Hardebola I think you should make section explaining topic more visible. It's the most important part and it's so hard to find:

"In the comment section, you'll be sharing your view about:"

"what Bitcoin halving is all about"

This section should be more "visible".

Cheers, Piotr

13.05.2020 18:35
0

Thanks for the correction @crypto.piotr I was actually thinking of them will actually notice it though but I'll try to make it more visible as you've stated.

Thanks again 😊

13.05.2020 21:14
0

Great initiative for getting more interaction!

This is not my first halving but based on previous experience, I see there has been a lot of hype this time around which has led to wild expectations on price rises.

The Bitcoin halving event is deflationary as it halves the supply of new Bitcoins coming into circulation. Miners will typically sell their mined coins to get funds and these new coins will work there a way to the various exchanges. The halving if therefore limiting this supply to half what it was and this will restrict supply. Economics will tell us that this will have an upwards pressure on price.

There also has to be demand though and the previous Bitcoin large post halving bull runs have been accompanies with media interest. I remember when every taxi driver knew about Bitcoin. I don't see that any more. Perhaps if we do get substantial price rises now because of the restriction in supply, FOMO will kick in and that will put even more pressure on the price.

However, we are also in a market where the whales dominate and they can easily create FUD that will put new investors off.

13.05.2020 18:46
0

Excellent comment @awah

I remember when every taxi driver knew about Bitcoin.

Very true. Those were interesting times. With so much hype and fake news. Excitement was in the air most of the time :)

Cheers, Piotr

13.05.2020 19:47
0

This is not my first halving but based on previous experience, I see there has been a lot of hype this time around which has led to wild expectations on price rises.

Lols... I thought I was the only one who noticed this too πŸ˜‚πŸ˜‚. Even the last halving wasn't really over hyped like this present halving πŸ˜‚πŸ˜‚.

The Bitcoin halving event is deflationary as it halves the supply of new Bitcoins coming into circulation. Miners will typically sell their mined coins to get funds and these new coins will work there a way to the various exchanges. The halving if therefore limiting this supply to half what it was and this will restrict supply. Economics will tell us that this will have an upwards pressure on price.

I strongly corroborate with you on this point because miners won't be earning more BTC unlike they used to earn before the halving process.

Also about the economist perception towards such occurrence, I'm quite aware that the more scarce a commodity is, the more valuable it becomes.

There also has to be demand though and the previous Bitcoin large post halving bull runs have been accompanies with media interest. I remember when every taxi driver knew about Bitcoin. I don't see that any more. Perhaps if we do get substantial price rises now because of the restriction in supply, FOMO will kick in and that will put even more pressure on the price.

Yeah! That's actually the fact. I could also remember back then that the drastic increase in BTC price actually led to the popularity of cryptos.

However, we are also in a market where the whales dominate and they can easily create FUD that will put new investors off.

Wow! That's actually something most common amongst the crypto whales and investors.

Thanks for sharing your view @awah.. I've actually learnt a lot from comment 😊

13.05.2020 21:28
0

Thanks @hardaeborla for reading my entry and putting your comments. With the Whales and FOMO speculation, who knows what will happen?

14.05.2020 17:07
0

There is an old saying on the financial markets:

"When even the taxi driver start talking about an asset, it's time to sell"

There is a repeatable cycle on the markets and usually, "everyone" is talking about how good that asset is and everyone should buy, expect a big drop in price.

This is mostly because the sharks already bought in a long time ago, and bought a lot. So, when the asset price reach this critical mass of demand, they start to sell, and sell a lot, driving the price down.

As a response, people start to panic (mostly the ones that don't have much knowledge about the markets) and start to sell even more, and then comes the crash.

BTC latest peak and hype is the perfect example of this.

15.05.2020 12:05
0

And btw, every market is dominated by whales. It's the natural state of the financial markets.
This is probably true but the proportional power of the whales in crypto compared to trading volume means they can manipulate the price so much. If there was a better market spread that whales wouldn't have such a dramatic impact on price fluctuations. The instability of price turns others off the market so it is a vicious cycle that allows the whales to accumulate more.

16.05.2020 13:24
0

Dear @awah

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:41
0

Project.hope is proudly supporting this initiative.

Amazing stuff @hardaeborla.

I'm tagging few users, which hopefully will show their spport to this initiative.

cc: @steemitblog, @steemcurator01, @steemcurator02, @steemcurator03, @steemcurator04, @steemcurator05, @steemcurator06, @steemcurator07, @bullionstackers, @justyy

Yours,
@crypto.piotr

13.05.2020 19:36
0

Thank you @project.hope for the support πŸ˜Šβ€οΈπŸ’•

13.05.2020 21:15
0

Great initiative @hardaeborla and @crypto.piotr Bitcoin halving is a process where after every 210k blocks it's halved. And this is something like in bitcoin's protocol which were designed by satoshi nakamoto i had expectations that after halving btc price may cross 10k usd so my expectations have not come true yet. What's yours expectations?

13.05.2020 19:52
0

Lols.. Everyone is also hoping for BTC to cross 10,000 USD though but I noticed it actually met that margin during the halving process and there is high chance it actually worth more than 10,000 USD in few coming days if the market appears stable.

13.05.2020 21:37
0

Yes it did reach 10k before halving. But i was expecting it after halving lol. I have heard btc will cross 12k to 15k after halving. What do you it will happen although it's a world where we can't make exact predictions @hardaeborla

14.05.2020 03:09
0

Lols.... That's true though but I think some people are claiming that it really takes time for BTC to adjust itself after the halving process

14.05.2020 12:40
0

That's true almost everything takes some time to adjust. But we will see what happens with the future price of bitcoin.. Lets just hope its price go skyrocket in upcoming days.. Lol

14.05.2020 12:54
0

Lols... We are all hoping for the best too πŸ˜‚πŸ˜‚

14.05.2020 22:57
0

True :p

15.05.2020 05:39
0

Hi @hardaeborla

I know that at some point you heard the saying it says.

The future is uncertain.

Many know what halving is all about but it is good to remember, it halves, and that implies that miners receive 50% less bitcoins for verifying Bitcoin transactions in fact it is applied every 4 until it reaches a ceiling max of 21 million Bitcoins

In the structure of the BTC there can be many statistics of behavior, and many analyzes can predict the upward behavior or it can be downward analysis.
But behavior will always be superdited to the behavior or decisions of a person.

In this sense it affects the demand, supply and inflation of Bitcoin, I am very sure and I repeat it again, it will depend on personal decisions when they want to sell or buy, always my expectations regarding the price of bitcoin will be what will benefit me the most afterwards of the recent halving but I still need to follow that behavior more closely to take advantage of the best moment.

And I quote again ..

The future is uncertain.


Greetings from Venezuela

13.05.2020 20:42
0

Hmm... The future is really uncertain because anything can happen in the future and moreover the crypto market can't be easily predictable as you've stated since the curve are always erratic by rising and falling of cryptos but I think it always best if we keep hoping for the best or what do you think @lanzjoseg

13.05.2020 21:46
0

Dear @lanzjoseg

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:38
0

@hardaeborla, Thank you for your question.
All miners and crypto traders were looking forward to Bitcoin halving.
Miners and crypto trader hoped that the price would rise to at least 15, including me, but this did not happen.

I watched bitcoin trading on Friday, when the price reached the level of $10500 dollars for 1BTC, but I was hoping for Saturday and Sunday, May 10-12, hoping that the price will rise even more.

But it didn't happen. On block β„–630000, the pool for mining turned out to be 6.25 BTC.
Experts predict the growth of BTC by the end of the year and a price of $50,000 dollars?
Who knows? Wait and see!

13.05.2020 22:21
0

Wow! 50,000 USD is really a huge some of money!!! I think I'll have to start buying some amount of BTC then before this year runs out 😊

14.05.2020 12:37
0

What I have seen is that people expect Bitcoin to eventually climb between $40k and $100k... Exact number varies between experts, but everyone is confident it will climb to at least $40k because a while ago it did reach $20k for a moment and by logic it should always at least double the previous all-time high price.

14.05.2020 18:35
0

Hi, amazing comment @vipnata

We've upvoted already it with PH and steemcurator06 accounts.

Consider subscribing to our project.hope community: https://goldvoice.club/steem/@qsyal/after-more-10-days-should-i-get-optimistic-or-pessimistic-about-the-halving)

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:42
0

@crypto.piotr, thank you very much for your invitation to the discussion. Please excuse the late response. I will definitely read your publications and express my opinion.
P.s. I would like to note your politeness with special pleasure. I really like the way you communicate with your interlocutors and conduct your discussion very correctly. You are a born diplomat.

27.05.2020 15:44
0

dear @vipnata

I would like to note your politeness with special pleasure. I really like the way you communicate with your interlocutors and conduct your discussion very correctly. You are a born diplomat.

I'm blushing now. You know that? :)

Cheers, Piotr

31.05.2020 10:27
0

@crypto.piotr, thank you so much for your reply

I'm blushing now. You know that? :)

Yes, now i know it. Have a beautiful weekend, my friend!

31.05.2020 11:42
0

I will make this very simple and probably.... short. Bitcoin halving occurs every four years when the supply of bitcoin being mined is halved or splited as miners get the half the reward they get when a successful block is mined from POW.

From the previous halving, the price of BTC has never risen immediately after the hive, it takes time up to a year and do not forget that this is not proven, it is just from studying charts.

I never expected much from the halving, although i knew a lot of people would dump as they bought with the Intention that the price will rise.

13.05.2020 23:46
0

From the previous halving, the price of BTC has never risen immediately after the hive, it takes time up to a year and do not forget that this is not proven, it is just from studying charts

Wow! This means there is high chance of BTC having more value or worth in 2021? I think this is the best time to acquire more BTC then 😊

14.05.2020 12:35
0

Dear @ajewa

Thanks for dropping by and sharing your feedback with us. I've already managed to upvote your comment with PH account and also steemcurator06 :))

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:43
0

Thank you, I will check the post out.

26.05.2020 22:05
0

Hi @hardaeborla

Great competition where many can participate and show their good qualities

14.05.2020 02:19
0

Exactly @xpilar most especially when it comes to learning from others 😊

14.05.2020 08:49
0

That didn't make sense. "This solution should be very positive for the crypto industry,"
The solution, a periodic event that reduces the prizes received by miners, is held on Monday according to Binance. But that might have an impact on the price of Bitcoin in other ways. Miners may also be more willing to maintain their Bitcoin in exchange for selling it at a price below their break-even fee.
"There is a psychological effect, which also drives prices up, but basically I believe supply is limited, but demand is increasing exponentially."

14.05.2020 04:08
0

Supply is really limited and the demand for BTC keeps increasing unexpectedly and this is actually one of the things halving wants to implement in the crypto space

14.05.2020 13:26
0

Dear @block.token

Thanks for dropping by and sharing your feedback with us. I've already managed to upvote your comment with PH account and also steemcurator06 :))

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:43
0

Right.

24.05.2020 16:24
0

@hardaeborla thanks for organizing such a wonderful contest it will make people more engaged to each other.

This is not my first halving I have seen one more before. This is one of the best mind created the bitcoin and the mechanism of halving which will gradually increase the price of bitcoin.

Every time halving take place many miners close their mining which means less bitcoin in circulation.

Which will increase the price of bitcoin indeed. As this current halving has just finished the price is stable within range bound but as per my prediction bitcoin will slowly move upward and cross the 10k mark easily. Lastly it takes time to settle and to organic increase in price.

14.05.2020 05:09
0

Wow! It's really nice to know this isn't your first BTC halving experience though but I think this year halving seems to attract most people's attention unlike the previous years.

It's really certain that miners won't earn more BTC as they used to earn before during the mining process though but we hope it will surely increase the price of BTC just as you've stated

14.05.2020 11:31
0

When miners stop mining, it doesn't actually decrease number of bitcoin in circulation. It's the actual block reward halving, but that only changes the amount of new coins in circulation, but there will actually be more demand for coins after the halving as initially the price drops before it starts climbing up.

The price drops as some of the miners who have not yet sold enough coins to cover the mining costs do final selling.

14.05.2020 18:32
0

So this means that BTC miners also have more influence on BTC price if they don't sell their coins? 😲

15.05.2020 09:08
0

Keeping coins in own wallet always has influence in the price... As miners have large amount of BTC compared to other kind of BTC users, it has more influence than small time traders, who only buy BTC to sell it for altcoins.

When there is less coins to sell in the exchanges, the price will go up more easily as there will still be same amount of buyers.

15.05.2020 09:33
0

Don't pretend you know a damn thing about cryptocurrency.

19.05.2020 18:31
0

Dear @adityajainxds

Thanks for dropping by and sharing your feedback with us. I've already managed to upvote your comment with PH account and also steemcurator06 :))

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:43
0

It is visible that bitcoin halving has been defined and explained so i do not intend to go back to that but i will talk about the effect of the halving in the next 2 years which often happens from history. Bitcoin always reaches its all time high well i can't say for this year as there are economic crises.

I expected bitcoin to rise before the halving and for it to drop after the halving and it just did as i expected.

14.05.2020 06:56
0

I was also surprised about it's drastic drop after the halving process though but most cryptos analysts are claiming that we can't expect Bitcoin to rise immediately after the halving process. It really takes more time for this to happen.

14.05.2020 13:19
0

This post has been rewarded by the Steem Community Curation Project. #communitycuration06

14.05.2020 09:49
0

Thank you for the great support 😊

14.05.2020 13:17
0

My own take about the Bitcoin halving is that the halving grabs so much attention mostly because many believe it will lead to a price increase. The truth is, no one knows what's going to happen.

The value of Bitcoin becomes notoriously volatile around and after a block halving, meaning its prices can change rapidly during this period. Because of this it is impossible to predict the future of Bitcoin prices after the halving with complete certainty.

@hardaebolar this is really a great initiative for getting more interaction, and thanks to @project.hope for the support too.

14.05.2020 11:51
0

I strongly agree with your points here because no one really knows what may happen in future but most crypto analyst are of the view that this halving will surely increase the value of BTC

14.05.2020 13:22
0

Wow! This is a great project to make the platform an interacting one and coming down to the talking point.

This is my my first experience as far as bitcoin halcing is concern and after taking my time to make inquiry from some people who are into this game for awhile, i was made to know that Bitcoin halving is just a way of reducing the amount of Btc that will be coming from the block reward. In a simple term, it has to do with reducing by half.

This will be the third halving since bitcoin came into existence cutting the mining block from 50 btc to 25 btc dated back to 2012 and with the recent halving, the mining block is reduced to 6.25 btc

Now coming down to how it will affect bitcoin demand, supply and inflation, we can explain this by using the law of demand and supply which stated that the higher the price and the lower the demand while the law of supply stated that higher the price the higher the quantity demanded. Now with the recent halving, it means btc will be very scares to get unlike before and this will have a positive effect on the price because the lower the quantity, the higher the price.

To round this up with the last question there, my expectation is to see the rate surpassing the current rate and it is not something that will happen in a day but it will surely happen, i wouldn't be surprise if the rate goes up as far as $20k to 1btc.

14.05.2020 12:06
0

Wow! You've really explained the whole concept involved though... Let's just keep hoping for the best and I can't really wait for BTC to worth more than it's present value though. I just hope it will also boost the price of other cryptos

14.05.2020 13:15
0

Hi, amazing comment @oxygen02

We've upvoted already it with PH and steemcurator06 accounts.

Consider subscribing to our project.hope community: https://goldvoice.club/steem/@qsyal/after-more-10-days-should-i-get-optimistic-or-pessimistic-about-the-halving)

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:39
0

Nice initiative buddy.

I've read a few comments here and many of them have explained what halving is and I may not bore us with another definition. However, I'll like to talk about the proposed effect of the halving on price of btc.

We know that btc has a fixed total supply, so as more btc are mined, the total quantity of mineable btc will be reducing by a small fraction.

Putting our knowledge of economics of demand and supply here, you will agree with me that when the demand for a commodity increases, there will be an upwards shift in price.

So as more btc are mined, this also means that it will ultimately lead to less btc to be mined (overtime) and this will create massive demand and in the long run, price will tend to increase.

Note: This is neither a prediction nor a financial advice.

Cheers buddy

14.05.2020 13:08
0

The law of demand and supply is really very useful in this aspect since there will actually be more demand for BTC and this will keep boosting it's price.

14.05.2020 22:40
0

Dear @samminator

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:38
0

This is really a good way to learn, thanks to the team behind this, but truthfully this is my first halving that I will be aware of.
When I heard of bitcoin halvening, I heard a lot of people saying the price will increase we should buy and hodl. Even then my thought was that the price will become doubled when the halvenng is done. My own expectation was getting around $15000 or more because the hype was much. Later when I got to read about it from Forbes, that was when I realized the hype was not all true.
The only thing that I just got to know is that after halving, the rate at which bitcoin is mined will reduce and as such law of demand that says

the lower the the supply the higher the demand and the higher the demand the higher the price.

14.05.2020 13:12
0

this is my first halving that I will be aware of.
When I heard of bitcoin halvening, I heard a lot of people saying the price will increase we should buy and hodl.

Wow! It's really nice you are among those who experienced this recent halving and I must say it really worth it.

About the people saying BTC will increase, they are actually right about it but it is not really something that happens immediately though πŸ˜‚πŸ˜‚.

The only thing that I just got to know is that after halving, the rate at which bitcoin is mined will reduce and as such law of demand that says

Exactly! That's just the major fact 😊

14.05.2020 22:49
0

This is really a good way to learn, thanks to the team behind this, but truthfully this is my first halving that I will be aware of.
When I heard of bitcoin halvening, I heard a lot of people saying the price will increase we should buy and hodl. Even then my thought was that the price will become doubled when the halvenng is done. My own expectation was getting around $15000 or more because the hype was much. Later when I got to read about it from Forbes, that was when I realized the hype was not all true.
The only thing that I just got to know is that after halving, the rate at which bitcoin is mined will reduce and as such law of demand that says

the lower the the supply the higher the demand and the higher the demand the higher the price.

14.05.2020 13:15
0

Hmm... This really got me "the lower the the supply the higher the demand and the higher the demand the higher the price" πŸ€”

14.05.2020 23:05
0

Hi, amazing comment @jetto

We've upvoted already it with PH and steemcurator06 accounts.

Consider subscribing to our project.hope community: https://goldvoice.club/steem/@qsyal/after-more-10-days-should-i-get-optimistic-or-pessimistic-about-the-halving)

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:39
0

@hardaeborla, that is a great initiative, so here is my view:

What is halving?

Satoshi Nakamoto programmed that bitcoins will be released into circulation gradually with each block mined. The final amount is a 21 million BTC.
Bitcoin transactions are grouped into blocks that follow each other to form a blockchain. Mining of one block takes about 10 minutes in the Bitcoin network, and at the beginning of mining, i.e. in 2009, the miner received as a reward for mined block as much as 50 BTC.
This amount is always halved after 210,000 mined blocks, which occurs approximately once every 4 years. Last halving happened on May 11th 2020. From that time, miners receive 6,25 BTC as a reward for each mined block. As it was the third halving, the block with a halved reward was a block no. 630 000.
To that date, approximately 87% of all bitcoins have already been mined so only 13 more % are about to be mined in the future.

Inflation

The annual inflation rate or the number of newly mined coins dropped from 3,65% to approx. 1.8%. In the next 4 years, after the 4rd halving, the inflation rate will drop to 0,9% and so it will continue.

The price impacts

Halving is a predictable fundament written in the source code of Bitcoin. Miners put this event to the price of Bitcoin in a few months advance. As the result of the Bitcoin halving, the price tends to skyrocket approx. one year after this event. I expect to happen the same. Please, fasten your seat belts! I would say that the next ATH will be reached within the next 12 months.

BTC-halving-2020)g

14.05.2020 13:19
0

Wow! 3.65 - 1.8% seems to be a very high drop and the next will also drop to 0.9% as you've claimed... Wow! That's really much though.

I also love the graph or BTC curve chart you included in your write up and this really explained BTC event happening with respect to the supply and inflation rate.

16.05.2020 17:29
0

This post has been rewarded by the Steem Community Curation Project. #communitycuration07

20.05.2020 05:02
0

Dear @ritxi

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:34
0

Thanx, I will take a closer look on his/her work.

25.05.2020 06:14
0

This is really a good way to learn, thanks to the team behind this, but truthfully this is my first halving that I will be aware of.
When I heard of bitcoin halvening, I heard a lot of people saying the price will increase we should buy and hodl. Even then my thought was that the price will become doubled when the halvenng is done. My own expectation was getting around $15000 or more because the hype was much. Later when I got to read about it from Forbes, that was when I realized the hype was not all true.
The only thing that I just got to know is that after halving, the rate at which bitcoin is mined will reduce and as such law of demand that says

the lower the the supply the higher the demand and the higher the demand the higher the price.

14.05.2020 13:30
0

Hmm... This really got me "the lower the the supply the higher the demand and the higher the demand the higher the price"

Nice concept πŸ’ͺ

16.05.2020 17:22
0

With time I think the impact of the halving might still be felt, not just currently. The situation if the world might not just let us see the full impact of the halving. And as for this halving the impact of social media raised a whole lot of hype for it.

14.05.2020 13:34
0

It really takes time for this to happen and we are really gonna be patient about it's stability though

14.05.2020 23:03
0

Yeah definitely

15.05.2020 02:37
0

Hi,

First of all, nice initiative!

Calling this event "Bitcoin halving" is actually quite misleading. Those who are not aware, might interpret it as Bitcoin total supply is halved πŸ˜‚. A better way of saying it is "Bitcoin block reward halving", it is longer but a more accurate representation of the event.

The 2020 halving slash Bitcoin block rewards from 12.5 BTC to 6.25 BTC. This round of halving brings Bitcoin inflation rate to about 1.8%. This is significant because the US Fed sets a target inflation rate of 2% for the USD and with this halving, Bitcoin now has an inflation rate lower than USD.

Another widely talked about topic is the stock-to-flow model which is used to value Bitcoin. Post-halving, there will be less flow which leads to a higher stock-to-flow ratio. Since the valuation model positively correlates Bitcoin price with the stock-to-flow ratio, Bitcoin price is expected to increase. Head here if you want to learn more about this.

14.05.2020 14:22
0

Calling this event "Bitcoin halving" is actually quite misleading. Those who are not aware, might interpret it as Bitcoin total supply is halved πŸ˜‚. A better way of saying it is "Bitcoin block reward halving", it is longer but a more accurate representation of the event.

πŸ˜‚πŸ˜‚πŸ˜‚ @culgin most people are really having that same mindset too even the graphic designers involved in the BTC halving pictures were also splitting BTC into two halves πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚

Another widely talked about topic is the stock-to-flow model which is used to value Bitcoin. Post-halving, there will be less flow which leads to a higher stock-to-flow ratio. Since the valuation model positively correlates Bitcoin price with the stock-to-flow ratio, Bitcoin price is expected to increase.

I'm actually just learning about the stock flow ratio analysis too and I hope to learn more about it. You actually explained in different dimension and I'm sure you will make a good teacher 😊

14.05.2020 22:56
0

Dear @culgin

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:39
0

Excellent, here I will leave my comment in this challenge, regarding the proposed topic, which is the Halving:

What is halving?

Halving translates as an automatic event that occurs approximately every 4 years and that occurs just when the network has produced 210,000 blocks, in which the reward for extracting a cryptographic coin is reduced by half and that in turn reduces its issuance. This was created to encourage mining through PoW (Proof of Work), all because the amount of Bitcoins that can exist is finite and is set so that only 21 million Bitcoins are issued, no more and no less, which is why the BTC nicknames it an active refuge with a deflationary state that will eventually rise in value.

How does demand, supply, and inflation affect Bitcoin?

This event is highly anticipated by all investors of any size, particularly an asset like Bitcoin with a working test algorithm and a system where every 210. 000 Blocks the miners' rewards are halved, it makes the currency have a deflationary condition, that is, that over time it will always increase in value, since every time this event occurs the reward for mining a block will be less, which results in all the Bitcoins in the circulating market decreasing a bit bringing about a possible increase in the price of Bitcoin.

Another important feature to note is that Bitcoin is a finite asset, meaning that there's only a certain number of coins to be printed and once this limit is reached, no more Bitcoins can be issued. In short, no more than 21 million Bitcoins can be printed. All of these characteristics make many investors notice this type of assets which store value as Bitcoin, since many of these characteristics that I've mentioned will begin to demand a lot of it, all with the purpose of obtaining profitability and to protect their funds.

What were your price expectations for Bitcoin after the reduction by half, and did your expectations come true?

As an investor and enthusiast of the Blockchain, I bet a lot on a future where Cryptocurrencys is the legal tender worldwide, since with this many people will have their money in their hands without the need of a third party. With this I want to reach that my expectations with Bitcoin are very high and more taking advantage of this event that takes place practically every 4 years and every 210,000 Blocks mined in the Bitcoin network.

My perception and my opinion is totally bullish in the medium and long term for Bitcoin, therefore, my objectives have not yet been completely fulfilled with respect to how far the price can go, of course I hope it will exceed its record figure of 20 thousand dollars. On the other hand, in the shorter term, technically analyzing the Bitcoin, I hope that it will reach between 12 thousand and 14 thousand dollars, it may take some time, but these may be my closest objectives, however, we must continue to follow it up since I am also a daily and short-term investor, so I move the asset a lot depending on the analysis I make.

Again, thank you very much for this initiative and I hope we all learn much more about this incredible cryptographic world.

14.05.2020 14:39
0

Wow! This is just very explicit and impressive. I've learnt a lot from your comment about Bitcoin halving and I must say you're really experienced and knowledgeable about how the process works.

Thanks for sharing

20.05.2020 04:27
0

Dear @lenonmc21

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:37
0

Excellent estimate @crypto.piotr

Thank you very much for your support and for always taking the time to read all the comments.

Of course I'll take a look at the post.

24.05.2020 19:50
0

Great initiative for better interaction on the chain.. Kudos!

As for the effect of btc halving on the price? Well l, every expert has predicted that it's gonna be a high increase effect which will only be seen in the long or far term.

Some experts have even predicted that the price will hit $18,000/btc. But let's be logical here. Every time btc halving takes place, there's always an increase in price and we all know that when the reward pool of btc finishes, btc will become like gold. Meaning that nobody will have btc to distribute any more and the demand will still remain high. This invariably will increase the price on the long run. So it's advisable to buy btc and hodl.

The better days are coming. Trust me.

14.05.2020 16:43
0

Hi, amazing comment @desmoniac

We've upvoted already it with PH and steemcurator06 accounts.

Consider subscribing to our project.hope community: https://goldvoice.club/steem/@qsyal/after-more-10-days-should-i-get-optimistic-or-pessimistic-about-the-halving)

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:39
0

Halving of the block reward is alternative to block reward decreasing for every subsequent block. Halving is easier to implement as it only requires simple division instead of counting how many coins have been mined before current block.

Fundamental reason behind decreasing block reward is to make sure the maximum supply of the coin is not reached too fast after the launch, so people keep mining or staking the coin and not lose interest because there is no more chance for profit.

14.05.2020 18:26
0

Fundamental reason behind decreasing block reward is to make sure the maximum supply of the coin is not reached too fast after the launch, so people keep mining or staking the coin and not lose interest because there is no more chance for profit.

This implies that the miners are really earning very well during the mining process and the investors are not also left out since they are also staking via investing.

Thanks for sharing

20.05.2020 04:34
0

..Great initiative, thx to all you guys!!...will check it out soon and of course β€šlearn and earnβ€˜ is what everyone is looking for, but there’s no or a hard to find site/blog...anyway, looking forward to it and to engage myself more too...up..follow you..resteemed...
!invest_vote!
.. enjoy..

14.05.2020 20:39
0

We'll also be expecting your request and I'm quite sure we will surely learn from you as well 😊

14.05.2020 23:07
0

A bitcoin halving (sometimes 'halvening') is an event where the reward for mining new blocks is halved, meaning miners receive 50% fewer bitcoins for verifying transactions.

It occurs once every four years.
This is the second Halving I'm witnessing as a crypto expert

It will make btc very scarce because there will be high demand for it
To the last question

My expectations for it is to rise within 6 months - a year after the Halving

14.05.2020 21:58
0

Wow! You mean we're still gonna wait till next year before it can rise to it's optimum or maximum level?

14.05.2020 23:01
0

First let me say that this is an excellent initiative. It is my third Halving, I have been with Bitcoin since it was $ 300 and I think that despite these events programmed by nature in the bitcoin code by Satoshi Nakamoto. The market and the financial structure of price quotes respond to a naturalness expressed in three factors: space, price, time.

So the price of BTC will rise as long as the professional money is positioned solidly and prove that the offer present at the important levels is only residual and not from strong positioning.

The great difference of this Halving is that it has occurred with the accompaniment of a global pandemic that has completely shaken the financial markets and that has also led to the purchase by large investors that bitcoin is a strong refuge asset with a capacity of faster recovery than gold. Event that was demonstrated after the great fall of March 12 of this year.

Bitcoin is undoubtedly an asset that has different characteristics and nobilities than traditional assets, but it must still respect the natural laws of the market.

Thanks for this TEAM!!

15.05.2020 00:35
0

First let me say that this is an excellent initiative. It is my third Halving, I have been with Bitcoin since it was $ 300 and I think that despite these events programmed by nature in the bitcoin code by Satoshi Nakamoto.

Firstly thanks for the great commendation and I really appreciate this 😊. The initiative is just to make users to learn and earn.

It seems you've actually been in the crypto space for quite a long period of time because I could still remember that BTC used to worth around $300 for more than 5 years from now.

So the price of BTC will rise as long as the professional money is positioned solidly and prove that the offer present at the important levels is only residual and not from strong positioning.

We all are really hoping for this to really happen. Most investors really invested more into BTC just to earn very big.

Bitcoin is undoubtedly an asset that has different characteristics and nobilities than traditional assets, but it must still respect the natural laws of the market.

This is actually one of the qualities of Bitcoin generally and this is why it will continue to remain the best asset owned by people.

Thanks for your lovely comment

18.05.2020 12:49
0

Thanks for your answer. And thanks for this initiation in the steemit community. Thanks a lot.

18.05.2020 22:04
0

You are welcome 😊

20.05.2020 04:21
0

Dear @ale.aristeguieta

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:36
0

halfing = block reward cut half
someone things that halfing = double price :P
But this is wrong
It not only affect the price
Miners are affected too
Reward cut half but hashrate does not

15.05.2020 02:36
0

The halving process will surely affect the price of steem positively according to the research I've carried out and from the majority of comments I've read so far, they all agreed to the halving affecting the price of BTC.

Thanks for your contribution

20.05.2020 04:39
0

What is the halving of Bitcoin about?

This halving of BTC I think is an event that occurs from time to time, whose main objective is to halve the amount of BTC in circulation, but if I can explain well the mechanism by which this process is achieved, it will be a reason to investigate and learn along the way.

How does Bitcoin affect demand, supply, and inflation?

Like any traded item or entity, BTC will not escape the reality of being affected by supply and demand variables, even inflationary and speculative factors should be the order of the day.

In the case of the BTC, if the total volume of currencies in circulation is halved and demand remains the same or even higher than it was before the halving, prices are likely to soar.

However, inflation would shoot up because prices could certainly be very speculative, so I think that inflation and speculation would be variable, so we would have to be careful and evaluate very well in this process of reducing the volume of BTC in circulation.

What were your expectations for the price of the currency after the reduction by half and did your expectations come true?

In this case, I cannot talk about past expectations in relation to this type of event, because it is the first time I would live these experiences before an event like this. However, I can tell you what my current expectations are for this event.

With the reduction of the BTC by half, I hope to see the price of the BTC rise, so maybe many people will be able to buy other cryptomonies, and everything will end up being a favorable scenario for many..

15.05.2020 02:37
0

Wow! This is really well explained @carlos84 and I must tell you I've learnt a lot from your idea or perception about Bitcoin halving. It really shows that the law of demand and supply is really setting in when it comes to BTC halving

16.05.2020 17:18
0

Just a little clarification... Halvening doesn't halve amount of all BTC in circulation, just the amount of newly issued coins.

20.05.2020 09:47
0

Dear @carlos84

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:37
0

With the brilliant feature of "block-reward halving," Satoshi Nakamoto ensured that Bitcoin would be more like gold than like fiat money.

Gold and other precious metals are precious because they're rare. Anyone who wants to find gold must spend lots of time, money, and effort to get it. And the more we find, the less remains in the earth. Consequently, it retains its value.

In the same way, the halving of the block-reward every 4 years ensures that the bitcoin will retain its value.

These days, as the US$ and other fiat currencies around the globe are being exponentially inflated to insane levels, the only money that will still have any value will be precious metals and crypto-currencies. Particularly gold and bitcoin.

15.05.2020 09:47
0

Lols... This really implies that Satoshi Nakamanto will actually be a lover of gold then since he was able to inculcate the gold working principle into Bitcoin production and features πŸ˜€πŸ˜Š

16.05.2020 17:20
0

These days, as the US$ and other fiat currencies around the globe are being exponentially inflated to insane levels, the only money that will still have any value will be precious metals and crypto-currencies. Particularly gold and bitcoin.

The above are indisputable facts; we are already testifiers to what is happening. We are lucky because history is playing out before our very eyes. Cheers to the brighter years ahead.

17.05.2020 05:59
0

Thanks for your input. Let's keep working towards "brighter years" – for us and for all.

18.05.2020 09:31
0

Thanks for your input. Let's keep working towards "brighter years" – for us and for all.

I say aye to your noble call.

18.05.2020 16:24
0

Dear @majes.tytyty

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:38
0
First of all, congratulations on your good idea. I read the comments and I can say that most of them are true. I am also trying to write my own personal opinion on this matter.
![halving.png]() To understand the concept of Bitcoin Halving, you must first become familiar with the basic concepts of bitcoin mining. In short, volunteers, as miners, provide networking hardware processing power in a process called "extraction" to confirm bitcoin transactions and maintain security, which requires electricity consumption and advanced mathematical equations. The network produces some bitcoin as a reward and gives it to the miners.

#Halving halves miners' rewards every four years.

Bitcoin has two important rules:
  • Bitcoin inventory is limited to 21 million units.
  • The number of bitcoins produced per block will be reduced by 50% after every 210,000 blocks.
![__LINE_BLACK.png]()

What is the philosophy of the Halving event?

You may be wondering why designing this change in miner rewards was necessary and why you shouldn't keep the miner reward rate constant. Wouldn't this event be to the detriment of the miners? If new bitcoins are produced quickly, or the number of non-productive bitcoins is infinite, the high number of circulating bitcoins will gradually decrease in value.
The main reason for doing this is to control #inflation.
Because of this limited supply, gold has been able to establish itself as a means of exchange and a means of storing value over the past 6,000 years. What I hope Bitcoin can do.
![__LINE_BLACK.png]()
This is probably the strangest and most difficult bitcoin Halving. Global markets are in turmoil. The spread of covid-19 disease has led to a recession in economies and industries, and all of these problems and variables are making the price trend predictable and, consequently, the growth of miners' income unpredictable. But in my opinion, the post-Corona era will be the era of blockchain, and especially Bitcoin. The effects of the disease on the banking and monetary systems and the disruption of money transfer have led to more use of exchanges and people using cryptocurrencies. Halving is actually a simple part of the Bitcoin code. We see it this way when we look at it technically, and it's not really technically beyond that. But when we think about the purpose and role of its existence, we realize that it actually has many important consequences and effects. Halving is one of the things that makes Bitcoin valuable to us. In fact, the rate at which bitcoin production is limited to 21 million coins and its supply is becoming less and less, the difficulty of producing it increases and its analogy to the gold we use for bit. Incidentally, this also points to the question of whether or not it is suitable for controlling inflation, and this is my answer, and it seems that yes, it is a simple and intelligent approach.
![__line_blue.png]()
In Summary: Bitcoin was created with the goal of staying valuable, and that's why Halving is embedded in it. There will be only a certain number of bitcoins (21 million), and with Hawing, inflation from bitcoin supply will be controlled by slowing the distribution rate. Best Regards, Hossein Rad
15.05.2020 11:57
0

Everyone can really testify to the fact that BTC itself is actually a very great and valuable asset. The halving process will not only make it more valuable but it'll also increase it's worth with time.

Thanks for sharing

20.05.2020 04:29
0

Your right.
I think everything has to have its own rules to be valuable.
Halving is a rule for BTC to keep its value.

21.05.2020 10:35
0

Dear @hosseinrad

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:37
0

Dear @crypto.piotr

Thank you for your supporting and upvotes.
Also, I would be happy if I can help anyone in articles like this.

I'll definitely read his post and write my own opinion.

Good luck πŸ‘,
Hossein Rad

25.05.2020 08:35
0

This is not really a topic I can claim to know so much about, but I like the initiative so I will be learning through comments.

15.05.2020 12:05
0

Wow! That's really interesting and this is actually why this challenge was created just to make everyone learn. I'm quite sure you'll be learning more about BTC halving in the comment section 😊

16.05.2020 17:25
0

Hello @hardaeborla, greetings @crypto.piotr and @project.hope.
Always grateful for the support you give to community projects. The truth is that I love to always comment when I am tagged. I am using a translator, I hope my words are understood. I don't know much about the topic you are raising, cutting something in half means that someone is receiving more or someone else is not receiving more. I really do not handle anything about the bitcoin topic, I love writing and my son was the one who encouraged me to be in this new world for me. But I am not discouraged, I keep trying to understand many things, since I am able to change currencies that are very helpful to buy food in my home and that has helped many Venezuelans. In this pandemic being locked up has distracted my mind.

Hola @hardaeborla, saludos @crypto.piotr y @project.hope.
Agradecida siempre con el apoyo que le das a los proyectos de la comunidad. La verdad es que me encanta comentar siempre cuando se me etiqueta. Estoy usando un traductor espero que mis palabras se entiendan. No sΓ© mucho sobre el tema que planteas, el reducir a la mitad algo significa que alguien estΓ‘ recibiendo mΓ‘s u otra persona dejo de recibir mayor cantidad. De verdad no manejo nada del tema bitcoin, me encanta escribir y mi hijo fue el que me animo a estar en este mundo nuevo para mΓ­. Pero no me desanimo sigo intentando entender muchas cosas, ya logro cambiar monedas que son de mucha ayuda para comprar alimentos en mi hogar y que ha ayudado a muchos venezolanos. En esta pandemia estar encerrada ha distraΓ­do mi mente.

cafe.gif

15.05.2020 12:19
0

Always grateful for the support you give to community projects. The truth is that I love to always comment when I am tagged

This is really so nice of you 😊. I also have that same trait of commenting when people tag me in a post. I'll always make comments as a sign of respect to show that I saw your tagging 😊

I am using a translator, I hope my words are understood.

Yes of course 😊

I don't know much about the topic you are raising, cutting something in half means that someone is receiving more or someone else is not receiving more. I really do not handle anything about the bitcoin topic, I love writing and my son was the one who encouraged me to be in this new world for me. But I am not discouraged, I keep trying to understand many things, since I am able to change currencies that are very helpful to buy food in my home and that has helped many Venezuelans. In this pandemic being locked up has distracted my mind.

It's really great to know your sincere opinion about the topic at hand. The fact is that not everyone is really knowledgeable about cryptos or BTC halving and this is one of the reasons challenges like this are created just to enable others to learn and earn for their contribution. 😊

Also your son must be a very smart kid and I really love the kind of character he possess πŸ˜€.

Lols... About the lock down, almost everyone is really affected and I'm optimistic we'll surely overcome this with time. πŸ’ͺ

Thanks for your lovely comment and always remember to #staysafe with love from @hardaeborla β€οΈπŸ’•β€οΈπŸ’•

16.05.2020 17:46
0

πŸ‘ Nice initiative!

About the halving, there is two interesting aspects i see regarding this event:

1 - People don't fully understand the supply/demand rule.

The main argument regarding the effect on the Bitcoin price increase is that the Supply will slow down (less new BTC is going to enter the market).

Sure, it is true that the less amount of a stuff is on the market, the higher the price the sellers will try to sell.

But demand is still the most important part of the equation that define the price.

Example: Let's say that there is 100k units of something being sold on a free market every day.

On the other side, there is 100k people looking to buy one of this something also every day.

In this situation, the market reached a balanced situation, where there is enought of this something for every one.

Now, Let's say that this something drop it's daily market offering to 50k, what happens?

There is still 100k buys every day, therefore, in theory, the something is now worth double, and the sellers will adjust the price accordingly.

But what if the buyers side still drop to 50k daily? Price don't move.

And the big thing is: You can change the supply as much as you want (increasing or decreasing), but the price won't change if there is no change on the demand side.

Therefore, the discussion revolving around if the price of BTC will increase or decrease after the halving is useless (from the economic perspective)

2 - The effect of the halving on the price have already happened a long ago.

So, what is the real effect of the halving? Gossips and rumors. And gossips and rumors can have a huge impact on the demand.

If a lot of 'experts' start to say that the halving will increase the price, the economy effects doesn't matter.

As long as more and more people believe that this is true the price will rise due to the simple fact that they will buy more only because they believe the price will rise.

This is also known as the good old speculation.

There is no 'real' demand, only a snowballing effect of the gossip reaching more and more ears.

Markets do what markets do....

15.05.2020 12:20
0

You've really made me understand the demand/supply rule very well when it comes to cryptocurrency halving most especially about the topic at hand known as Bitcoin halving.

It's quite fortunate that this BTC halving will surely have more impact on the price of BTC as you've explained.

Thanks for sharing

20.05.2020 04:24
0

Dear @phgnomo

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:36
0

This is a great initivative !

I would like to put my attention on the fact that halving has actually the greatest impact not on the price but on the miner of the bitcoin network.

It means that for the same amount of work, the output from mining will be halved. What does this mean?

Some miners will get out of business

A huge majority of the mining capacities and mining pools are nowadays in china. The mining capacities are defined by two things:

  • the quality of the mining equipment
  • the costs for electricity

In order to make a profit from mining the output from the mining activites have to be logically higher than the costs for equipment and electricity.

However the halving has no impact on the costs of mining, it only impacts the output. This means that many miners will not be able with the same costs to generate a profit.

Reduced mining capacities

This means that the overall mining capacities will decline. We can imagine that nobody lets the mining equipment turn if they don't make a profit with it.

Redistribution of mining capacities

Since there is less to earn with mining, it will become even more important to reduce costs. This will push manufacturers of mining equipment to make these more efficient. If the equipement can produce more hashes and at the same time spend less electricity, it will become possible to earn more.

At the same time, we might assist to a redistribution of the mining capacities to places where electricity is almost free of charge. A good exemple is Iceland where there are quite significant mining capacities fueled by geothermic energy. At the same time the climate in island is cold and there is not much cooling needed.

I think we will in the long term all profit from halvings because it will force the industry to be more efficient and more economic and to use renewable energies to fuel mining activities.

I'm sorry it got a bit long...

15.05.2020 15:19
0

I actually agree with your points as regards to some miners quitting their jobs due to the high cost of electricity or power involved in mining such a minimal amount of BTC but I think majority will actually want to continue mining despite those factors genuine factors.

16.05.2020 22:27
0

Dear @achim03

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:36
0

Wooo friend @hardaeborla, thanks for sharing this original idea, congratulations this really encourages participation.

Regarding today's topic, I must say that I knew about Halving BTC very recently and I was interested in doing a little research, I think most of them here understand what this means.

Halving is an event in which the block reward of a cryptocurrency is divided in half in order to reduce its emission level, it is an automated process of halving the bitcoins that miners receive as a reward for block creation

After this event the reward will be reduced to 6.25 for each block.

As for the expectation generated around the Halving, I think that many expected an immediate rise in the price, I include myself, but I think that if a bullish raly is produced, it will be slowly.

Another issue that should be discussed is mining, as it affected miners the reduction in half.

Thanks friend!

15.05.2020 15:22
0

As for the expectation generated around the Halving, I think that many expected an immediate rise in the price, I include myself, but I think that if a bullish raly is produced, it will be slowly.

Lols... most people are really expecting the bullish rally to be very fast after the halving process even though it may actually take time for this to happen

16.05.2020 22:21
0

Dear @fucho80

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:35
0

Starting by saying this is one of the most interesting initiatives ever developed in this platform.

Me like many others (the majority) are going through their first halving event. Firstly it was something that was pointed out that it would affect BTC price, but with the day getting closer and closer we started to realise that most of the price fluctuation usually happens after the halving.

Being more specific, the BTC Halving is what separates this digital currency from the usual currency controlled by our government, this means every 4 years the rate of "printing"/mining BTC gets reduced in half. While the opposite happens with the USD and major physical currencies that get printed more and more without any justification.

Based on the 2 previous halving events we saw the price growing exponentially and establishing a new all time high. The same is expected to happen this time. To be honest I had no expectations, after a bear market we know the price will go up, its just a matter of finding out how much and thatΒ΄s a question no one can answer but we all have our guesses :D

There are some thesis that predict that the price goes up around 10x every cycle (every 4 years), as we can see on the two pictures below.

I have a thought that some might not agree, but using simple math. If our previous support was around $4K because it was not profitable for miners to keep mining BTC below that price. Now that the supply was reduced in half I think its safe to assume that our new bottom (support line, for those more technical) just jumped to $8K. IΒ΄m not a financial adviser, but to me this means we are so close to the bottom that buying BTC now is the only answer and this premise will eventually push the prices UP.

image.png

image.png

Hopefully this isn't much more than 300 words, I could talk about this all day, and I am super curious to see what I can learn from all of you guys!

15.05.2020 20:19
0

Wow! This is very well explained. You won't actually believe that I'm just learning that BTC mining is also known as BTC printing πŸ˜€.

I also love the chart and BTC curves you applied to the post making it more easy for me to comprehend.

16.05.2020 17:49
0

Glad I can help!

I always heard that an image is worth more than 1000 words; So every time I have one I use it to show my point or explain something :D

18.05.2020 15:30
0

I am frankly speaking very impressed with your contribution. Thanks for sharing your thoughts.

17.05.2020 05:50
0

Really appreciate the feedback!!
It's very motivating... I'm here to help!

18.05.2020 15:31
0

It's my pleasure.

18.05.2020 17:14
0

Dear @diogosantos

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:35
0

Bitcoin halving is when the creation of new bitcoin will be cut into half.Which means to say that if the miners get 2 blocks now, after the halving, they will only receive one.

It will affect the demand, supply and inflation because there will be less BTC being mined.

BTC price is very volatile so I am going to put my price at about 6,000 USD. But again, no one will ever accurately predict anything with our situation now. 6 months ago, lockdown/ quarantine was non existent. So, we'll see how things go.

16.05.2020 02:52
0

BTC price is very volatile so I am going to put my price at about 6,000 USD.

Wow! 6,000 USD that seems to low for the prediction though but since it's actually your prediction though.. Let's see what happens 😊

16.05.2020 11:09
0

Not "2 blocks now", correct would be "2 BTC per block"...

20.05.2020 09:44
0

Dear @nurseanne84

Thanks for dropping by and sharing your feedback with us. I've already managed to upvote your comment with PH account and also steemcurator06 :))

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:41
0

I've always thought that Bitcoin was created by an alien or a time traveler. And halving, in my opinion, is a condition of seeing the future. Who can think of these things? How do you design something so strange (this person must have smoked some kind of stale peyote)?.

Halving, from what I understand, is a process that causes bitcoin miners to receive half of what they previously received as a reward for mining the bitcoin blockchain blocks. There will be exactly 34 halvings. By that time the miners will not receive any bitcoin for their mining process, they will only receive payment for the transactions (this will probably be by the year 2140, so I don't think it will be our problem anymore).

In my opinion, this means that the mining process will be reduced due to the energy and calculation costs required since with each halving they will receive less reward.

Some say that this will raise the value of Bitcoin, they are probably right because the Bitcoin emission is reduced and this makes the demand greater than the supply, which causes an increase in the price of Bitcoin.

I hope I didn't write too much ;P

Thanks for the challenge! :D

16.05.2020 21:02
0

Lols... Your first paragraph really got me laughing, how can an alien create such a advance technological system? πŸ˜‚πŸ˜‚πŸ˜‚

Halving, from what I understand, is a process that causes bitcoin miners to receive half of what they previously received as a reward for mining the bitcoin blockchain blocks. There will be exactly 34 halvings. By that time the miners will not receive any bitcoin for their mining process, they will only receive payment for the transactions (this will probably be by the year 2140, so I don't think it will be our problem anymore).

The miners are really gaining more influence by their mining actions though but I'm quite astonished about miners receiving their payments in the year 2140.. That's really still very far

18.05.2020 12:37
0

Thanks for your comment

22.05.2020 10:41
0

You're welcome 😊

23.05.2020 10:25
0

Dear @jadams2k18

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:35
0

YAY!!!! Thank you!

24.05.2020 23:24
0

One interesting thing about the halving is that it cuts the supply of new Bitcoin by half every four years. With supply cut by half, the price of Bitcoin is bound to soar if demand at least remain the same. Now that we are in the midst of a pandemic that sees global economy on a standstill, we can safely assume that the price of Bitcoin will explode as life returns to normal between now and next year. Cheers!

Good work @hardaeborla

17.05.2020 06:05
0

Dear @gandhibaba

Thanks for dropping by and sharing your feedback with us. I've already managed to upvote your comment with PH account and also steemcurator06 :))

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:41
0

Thanks for your kind gestures. I'll check his post out.

26.05.2020 10:21
0

Super interesting initiative, I am not an expert on the subject,but because when doing a galvibg there is less amount of BTC in circulation,surely this means have a higher price for being more coveted Halving is like a limited and programmed supply of bitcoin that splits into your gaze every few years, and recently in this month of May, we finish of having one

17.05.2020 12:52
0

Bitcoin halving is the decrease in the amount of new bitcoins generated per block. This means the lowering in the supply of new bitcoins by half its original supply. It is believed that halvening of bitcoin has a way of influencing the price as demand to supply ration would increase, thereby leading to higher price.

In normal markets, lower supply with steady demand usually leads to higher prices. Since the halving reduces the supply of new bitcoins, and demand usually remains steady, the halving has usually preceded some of Bitcoin's largest runs.. source

Below is a chart showing the price responses of bitcoin to its halvening in 2012 and 2016 respectively, The chart indicates that the price of bitcoin had jumped significantly after each halving. In the image below, the vertical green lines indicate the previous two halvings (2012-11-28 and 2016-7-9).

Having shared a brief of my understanding on bitcoin, I can therefore deduce that halvening the supply of a crypto is meant to manipulate the price of the token to the favour of miners and hodlers.

This to me means that all cryptocurrencies should at intervals half it's supply. I wish all bitcoin hodlers the best as they all anticipate a price pump effect after the third halving. It's been few days after the third halving of Bitcoin. We are not yet seeing the effect of the Halving as a 150 days of incubation is predicted before the changes in the price.

However, there were FUDs about price jumps which led to the high demand of Bitcoin last week and a subsequent price pump. Most were uninformed.

On my part, I had expected a healthy trading of Bitcoin above the $10,000 mark. It happened but was temporary. I am again maximizing the dips and I hope for a bull run after 50 days.


Thanks @hardaeborla for collaborating with @Project.hope on this. PH community has always been the hub of engagement on the social blockchain space.

17.05.2020 19:19
0

This is really explicit @uyobong and I'm really impressed with your analysis.

On my part, I had expected a healthy trading of Bitcoin above the $10,000 mark. It happened but was temporary. I am again maximizing the dips and I hope for a bull run after 50 days.

I noticed it actually reached $10,000 mark during the halving process and it drastically reduced again but I'm quite sure the price will surely surpass 10,000 USD with time

18.05.2020 12:32
0

Dear @uyobong

Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:38
0

This is wonderful, it's a very good initiative.

Let's see, I recently made a publication about it. About the Halving.

Basically, halving is a tool created from the beginning, it's part of the software since the genesis of Bitcoin.
Its basis is that while there is less production of something, it must be quoted more, increase its value, it is something intrinsic to the market.
That's why Satoshi Nakamoto, when he created BTC, did it that way, decreasing the production of Bitcoin units from time to time and - in theory - that would allow the price to increase, because there are less and less of them.

In simple words, this would be my explanation for it. Thank you very much for the opportunity. @hardaeborla

18.05.2020 10:48
0

Dear @josevas217

Thanks for dropping by and sharing your feedback with us. I've already managed to upvote your comment with PH account and also steemcurator06 :))

I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:42
0

Thanks for the support.
Sure friend @crypto.piotr I will visit the recommended publication.

25.05.2020 04:47
0

I think Bitcoin halving as many people would think of being disadvantage between investors and traders, to be me it's a way of controlling market being choked with more network operators and coin miners , as demands go higher when prices are good, meanwhile many people would tend to supply more. As there is more supply, the coin will lose its value or depreciate. Then content creators, miners, investors and traders will be reluctant to push through.

What this means is that, when Bitcoin is halving every 4 years as many articles demonstrate, there will be one time increase of Bitcoin for every 4years. What would be the behaviors of Bitcoin users? When users benefits are halvened they will tend to withdraw their services , less will be supply, and at the end demand of Bitcoin will be high.

19.05.2020 09:02
0

Hi, amazing comment @oppongk

We've upvoted already it with PH and steemcurator06 accounts.

Consider subscribing to our project.hope community: https://goldvoice.club/steem/@qsyal/after-more-10-days-should-i-get-optimistic-or-pessimistic-about-the-halving)

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:44
0

Greetings, who have known the steemit reward, for sharing content for two or three years ago, we know that it has been somewhat demotivating for halving or less, for me the most valuable thing is to support the community and keep the hope of improvement , but participating, absence is not worth it.

19.05.2020 15:21
0

Thanks for your lovely comment though but we're actually discussing about the recent BTC halving though. Anyways, thanks for your contribution 😊

20.05.2020 04:35
0

Halving is an event that takes place every four years, where the reward system, for the creation of each block, is halved. In essence, this wonderful scheme makes bitcoin stand on a deflationary pillar that, with the passage of time, causes the value in this currency to increase.

This event provides a new base, adds resources to this system that commits with debt mechanisms such as fiat's, and with historical reserves of value, such as gold and to a certain extent silver.

Throughout history, there have been, counting on this one, three halving, but the latter occurs at an interesting moment in history. Halving once again demonstrated that it endows bitcoin with value in order to maintain that competitive charisma that keeps it competing for the store of value that will move the traditional financial foundations.

23.05.2020 05:46
0

alquimista1501

24.05.2020 10:44
0

Dear @hardaeborla

I would like to take an opportunity and share with you post by qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?

This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)

Enjoy your sunday,
Yours, Piotr

24.05.2020 10:34
0

Wow! That's really nice of you. I really can't wait to check out his post 😊

25.05.2020 14:57
0

Good job

25.05.2020 08:47
0

Bitcoin halving is a regression in the increase of Bitcoin.
It is quantized in both time and percent of regression. It is made to counteract the inflation of Bitcoin.
It makes mining of Bitcoin completely useless in 2020, unless You have free energy, free hardware and free slaves, according to Polish crypto-expert Cezary Graf.

01.06.2020 09:04
0

Wow! What a really impressive point of view about Bitcoin Halving and I've really learnt a lot from your write up.

Thanks for sharing πŸ˜Šβ€οΈπŸ’•

01.06.2020 11:05
0