Topic: Exposition of Bitcoin halving (Read 128 times)

In essence, we are just repeating the discussion that already existed before and some of the problems that occur.
But it should be an evaluation between the previous halving and the halving that will happen soon.

Always be excited when discussing major events that will occur in crypto, including halving.
But this halving will be quite different, because the hype is quite overwhelming and more people know about Bitcoin and crypto.
Even ATH was printed again before the halving, and this had not happened before.

Usually after the halving occurs all markets will be bullish, but this time the bulls come early, and maybe it will be even more bullish after the halving.
Just hoping that there will be a new ATH according to the speculation of many people who say that Bitcoin will reach ATH above $100k+++.

I know you are trying to share some useful information and you did but I think this post would be much helpful if shared in different platforms instead. You are posting this in bitcointalk where most people wouldn't be here if they aren't aware of bitcoin and any event associated with it.

You have given a detailed exposé about the halving, @OP, but without trying to discourage you, I still wish to inform you that this forum was built even before 2012, that the first halving happened, and there have been three halvings before this one we are about to witness. That is to say, there is nothing you have said here that has not been said before now. No new idea is being passed here; nothing new is on this topic, sorry to say. 

@OP, Keep learning, share more unique ideas and thoughts. 

Mining is not the process of verifying transactions. Verification is done by nodes who then broadcast the transaction.
Miners attempt solve computational puzzles and if they are the fastest to be successful their candidate block becomes the next confirmed block added to the chain. If there are any transactions in it, they get confirmed.

A reduction in reward does not count as an incentive for miners. In history, the opposite actually occurs with the hashrate dropping few weeks after the halving, adjusting after some time.

A good exposition on bitcoin halving indeed, jus that this might have been discussed on several occasion's because an average joe would have known the meaning and reason for bitcoin halving, that is why some use to make use of the search engine in knowing other vital aspects that had been discussed already from this platform before talking more on them, one thing so common with having this event along the corner is the bullrun.

  It's not surprising especially with newbies venturing into the crypto space, that most persons have little to no idea about what Bitcoin halving is and it's importance. This piece of writing gives an insight to what it is, so that as we anticipate the next Bitcoin halving, most persons would already have an understanding about it. I am also aware that there a quite a good number of knowledgeable people here who are well informed about bitcoin halving so, your input are greatly appreciated!
Bitcoin halving, or halvening, is an event that occurs roughly every four years as part of Bitcoin's underlying code. It is a mechanism designed to control the supply of new bitcoins entering circulation.

Specifically, the Bitcoin halving refers to the reduction of the block reward given to Bitcoin miners by half. Bitcoin mining is the process of verifying and adding new transactions to the blockchain ledger, and miners are rewarded with newly minted bitcoins for their efforts.

Initially, when Bitcoin was first launched in 2009, the block reward was set at 50 bitcoins per block. The first halving event occurred on November 28, 2012, when the block reward was reduced from 50 to 25 bitcoins. The second halving took place on July 9, 2016, reducing the reward from 25 to 12.5 bitcoins per block.

The most recent halving occurred on May 11, 2020, when the block reward was halved again from 12.5 to 6.25 bitcoins per block. The next halving is expected to occur in early 2024, when the reward will be reduced to 3.125 bitcoins per block.

The halving events are pre-programmed to occur roughly every 210,000 blocks, or approximately every four years. Believe me when I say this is an important event in the crypto space. Exchanges are also taking advantage of the upcoming event to celebrate with their users. I've come across a few of these exchange events as it applies to the upcoming Bitcoin halving. https://www.bgportable.com/activities/bitcoin-halving?languageType=0&appVersion=2.24.1&time=

This mechanism has a dual purpose:

1. Controlling the supply of new bitcoins: Bitcoin has a hard cap of 21 million coins that can ever be minted. Halving events help ensure that new bitcoins are released into circulation at a predictable and decreasing rate over time, helping to control inflation.

2. Providing an incentive for miners: As the block reward decreases with each halving, miners are incentivized to become more efficient and invest in better equipment to remain profitable. This helps maintain the security and integrity of the Bitcoin network.

Bitcoin halving events are significant because they can impact the economics of Bitcoin mining, potentially leading to changes in mining difficulty, hash rate, and ultimately, the price of Bitcoin. Historically, halvings have been followed by bullish price movements, although past performance is not indicative of future results, but like I always say, being optimistic never hurts.

For reference see; https://www.mdjonline.com/arena/thestreet/bitcoin-halving-for-beginners-how-the-process-works-impacts-price-of-btc/article_1518112c-e77c-53d0-9328-d4135a803cb6.html#:~: