Even when the last bitcoin has been produced, miners will likely continue to actively and competitively participate and validate new transactions. On one hand, there are detractors of the protocol who say that miners will be forced away from the block rewards they receive for their work once the bitcoin supply has reached 21 million in circulation. This is true, but only in a certain sense.
What is a bitcoin halving?
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Why halving could cause another spike.
Disclosure: Author holds an investment in bitcoin. On May 20, , an event will take place that could change the value of bitcoin forever. Unlike fiat currencies, which can be printed by central banks at will, the supply of bitcoin is limited algorithmically. There will only ever be 21 million bitcoins in existence. This, by definition, makes it a deflationary asset, as opposed to an inflationary one. This is complicated and expensive work, demanding a lot of electricity and specialized hardware. So why would anyone do it in the first place?
This is Satoshi’s way of battling inflation
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Bitcoin Halving 2020 Price Prediction $55,000 — $130,000 Explained
When is the next bitcoin halving?
As more miners compete for the reward, the difficulty of solving the problem increases. The halving will occur on May 21,according to bitcoinblockhalf. Part Of. This is reimbursement for the costs associated hitcoin maintaining the network, like electricity and hardware upkeep. Innovation Bitcoin Share Subscribe.
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