Bitcoin block halving - BestforextrainingNet

Bitcoin block halving

In the Bitcoin network, user transactions are grouped in blocks and recorded to a digital public ledger called a blockchain. The bitcoin block halving of bitcoins rewarded for each block decreases with time: it is halved every 4 years.

This event, the moment when the mining reward is divided by 2, is commonly called “Bitcoin halving”. Other denominations are used: “reward drop”, “reward halving”, or simply “the halving” or “the Halvening” which is a popular meme among bitcoiners. When Bitcoin was created in 2009, the initial reward was 50 bitcoins. In november 2012, it dropped to 25btc after the first halving.

The second halving will take place in July 2016, decreasing the reward to 12. WHAT IS THE IMPACT ON BITCOIN PRICE? As any freely traded asset, Bitcoin price depends solely on demand and supply. The evolution of bitcoins supply is hard coded and is known to everyone, so it all depends on the evolution of demand. Bitcoin being a very young currency with much room to grow in use and value, I would personally bet on a price increase.