What Is Bitcoin Halving And Why Does It Matter? | Crypto News

What Is Bitcoin Halving And Why Does It Matter? | Crypto News

Bitcoin having is a planned event that
happens every four years and affects how
much Bitcoin is made miners use loud
special computers to solve tricky math
problems when they solve one they get a
set amount of Bitcoins as a reward and
this event occurred three times before
the fourth Bitcoin having happened just
after 89 p.m. Eastern on Friday right
after the having bitcoin’s price stayed
steady at around
$63,000 when having the Curve the amount
of new Bitcoin created and the rewards
for miners get cut in half since there
can only be 21 million Bitcoin less new
Bitcoin being made could affect its
price that’s why Miners and investors
pay close attention to having events
it’s a big deal because it can impact
how much Bitcoin is available and its
value what happened at this having after
this having the rate of new Bitcoin
created about every 10 minutes is
3.125 having events have happen after
every 210,000 blocks are checked or
about every 4 years this was part of
bitcoin’s plan when it started in
January 2009 when there’s a having the
reward for miners who check new blocks
of transactions gets cut in half this
reward is the new Bitcoin created and
given to the miner so now miners get
3.125 Bitcoin as a reward besides this
reward miners also get fees from the
transactions in the block they check
check the latest block the 840,000 on
the Bitcoin network was checked by via
BTC they got over 40 Bitcoin which is
worth more than $2.6 million from the
reward and fees what’s interesting is
that this is much more than what miners
got from the blocks right before the
having in those miners got a little over
seven Bitcoin worth a bit more than
$450,000 in total fees it’s not clear
why fees sudden went up but maybe people
were willing to pay more to get their
transactions included in the hoing block
what happens next in the past when
housings happened the price of Bitcoin
usually went up a lot afterward but this
time it’s been different the price of
Bitcoin already went up a bunch before
the having one reason for this recent
rise in price might be because of
something called spot Bitcoin exchange
traded funds ETFs these are like
Investments that people can buy into and
they might be having a bigger effect on
bitcoin’s price than the having event
itself Thomas perfumo who works at kren
says that this having event is also
important because it shows how Bitcoin
works independently from politics this
is happening at a time when a lot of
people are worried about their own money
perfumo who is part of the team at kren
explained to Bloomberg that during times
when people are feeling uncertain about
their regular money like when they’re
worried about things like inflation
interest rates and the overall state of
the economy they might start looking at
Bitcoin as an alternative it’s like
they’re exploring other options to
protect their
finances however analysts at Major
financial institutions such as Jeep
Morgan and Deutsche Bank have a
different view they believe that the
impact of the haling event where the
reward for mining new Bitcoins gets cut
in half has already been considered in
the current prices of Bitcoin so they’re
not expecting a big surge in the price
ofit Bitcoin right after the having
instead they predict that the having
might mostly affect the mining side of
Bitcoin you see when the amount of
Bitcoin that miners get as a reward
decreases some miners might find it less
profitable to keep mining this could
lead to a decrease in the overall hash
rate which is the measure of how much
computing power is being used to mine
Bitcoin however even if the having
doesn’t cause a huge price increase
there are still opportunities for miners
to earn more money
one way is by charging higher fees for
processing Bitcoin transactions with
recent developments like ordinals and
layer 2 networks there’s potential for
miners to increase their revenue through
these transaction fees it’s like finding
new ways to make money even if the old
Wes become less profitable and that’s it
for today thanks for watching the video
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