Nowadays, if I am not wrong, in cryptocurrency communities, people are more favorite to use the term halving than halvening. However, I know both terms have been using many years. It is not about what is right, what is wrong. Technical terms are created by human and we can change it.
Today, in this topic, let's dig into the past, to explore history of these terms: halving and halvening.
I present here based on my Search results with the Bitcointalk search tool. I was not in Bitcointalk in 2011 or earlier so my information can be inaccurate so if you find such inaccuracy, please correct it. I much appreciate your help.
Halving
The term 'halving' is used in 2011, on 2nd July.
you send N coins to me
I send N/2 back to you.
simple as that.
no catches, no strings attached.
you know upfront how much you'll loose
and I promise to keep having a good life.
if it goes well, I will change the ration keep/return
from 1:1 maybe up to 5:95
but you'll always loose your bitcoins
in this schema.
at least I'm honest and do not promise doubling or so.
I send N/2 back to you.
simple as that.
no catches, no strings attached.
you know upfront how much you'll loose
and I promise to keep having a good life.
if it goes well, I will change the ration keep/return
from 1:1 maybe up to 5:95
but you'll always loose your bitcoins
in this schema.
at least I'm honest and do not promise doubling or so.
When I search with 'halve', it was used one month earlier than 'halving', on 5th June 2011.
How do you incorporate this into your business model?
I jsut figured out it will be quite disrubpive - cashflows will at least half overnight.
Note this is not against the concept oflowering payouts, but halving it every 210.000 blocks means that between quite some time you have a VERY big change. It may have been better to put the change smaller into smaller increments that follow the same curve (for example 90% every x blocks - forgive me, not in the mood to try that out mathematically now).
This way miners get a hugh hit in bitcoins generated, and with a more stable value in cashflows. Running this as a business means it does not look good on balance sheet
I jsut figured out it will be quite disrubpive - cashflows will at least half overnight.
Note this is not against the concept oflowering payouts, but halving it every 210.000 blocks means that between quite some time you have a VERY big change. It may have been better to put the change smaller into smaller increments that follow the same curve (for example 90% every x blocks - forgive me, not in the mood to try that out mathematically now).
This way miners get a hugh hit in bitcoins generated, and with a more stable value in cashflows. Running this as a business means it does not look good on balance sheet
Halvening
The 'halvening' term in Bitcointalk is used about one year later, in 2012.
On the other hand, lower prices are increasing the yield: at current price YABMC is paying >3% weekly.
At that rate, getting back the whole capital invested as dividends in a few months, before the halvening, while ASICS are still a pie in the sky, does not seems so unlikely to me.
At that rate, getting back the whole capital invested as dividends in a few months, before the halvening, while ASICS are still a pie in the sky, does not seems so unlikely to me.
Some articles about those terms but they don't have information about those term origins.
- Terminology. The oldest topic in Bitcointalk about terminology only lists 'halving'
- Coinbase article
- Halving (Coinmarketcap Glossary)
- Bitcoin Halving (Investopedia)
- Bitcoin Glossary of Terms (Bitcoinmagazine)
- What is the halvening