The Halvening! Bitcoin Halving for Rocket Paramours

Prize druppel ETA:

BITCOIN PRICE AND INFLATION:

xxx btc / xxx blocks

10min-blocks / 10-day average

10min-blocks / 10-day average

WHAT IS BITCOIN HALVING?

Te the Bitcoin network, user transactions are grouped ter blocks and recorded to a digital public ledger called a blockchain. Miners are te charge of this task, and receive a mining prize ter the form of bitcoins for each block recorded.

The amount of bitcoins rewarded for each block decreases with time: it is halved every Four years. This event, the uur when the mining prize is divided by Two, is commonly called “Bitcoin halving”. Other denominations are used: “prize druppel”, “prize halving”, or simply “the halving” or “the Halvening” which is a popular meme among bitcoiners.

When Bitcoin wasgoed created te 2009, the initial prize wasgoed 50 bitcoins. Te november 2012, it dropped to 25btc after the very first halving. The 2nd halving will take place ter July 2018, decreasing the prize to 12.5btc. Read more.

WHAT IS THE Influence ON BITCOIN PRICE?

Spil any loosely traded asset, Bitcoin price depends solely on request and supply. The evolution of bitcoins supply is hard coded and is known to everyone, so it all depends on the evolution of request. Bitcoin being a very youthfull currency with much slagroom to grow ter use and value, I would personally bet on a price increase. How much? When? It remains 100% unpredictable. One thing is certain tho’: at the time of Halving, the supply reduction will already be priced ter the exchange rate, thanks to market anticipation. So don’t expect a big price movement on Halving Day.

Note that other examples of halvings are available for comparison.

The very first Bitcoin halving occurred on the 28th of November 2012. On that day the price went up +1.7%, a negligible stir.

However the preceding and following months displayed continued growth and led to the famous early-2013 rally (from 13$ to 260$ ter Four months).

More recently, the Litecoin, a Bitcoin clone, passed its very first halving on August 25th, 2015. Two months before, a wild speculative rally took the price from Two$ to more than 8$, before crashing back to Three$.

What is certain for this 2nd Bitcoin halving is that similar wild, speculative, short-term rallies and crashes will occur. The interesting observation will be, on a larger time-scale, to see if the up-trend that Bitcoin price has bot experiencing since its inception te 2009 will proceed its path.

HOW DOES THIS Webpagina WORK?

This web pagina is connected to several web APIs to provide real-time gegevens about the Bitcoin network.

The fresh block announcement is obtained through a websocket established with blockchain.informatie.

The spot price is provided by Bitstamp web API.

Related movie: 72 GPUs, 1 Mining Equipment, The Future Of GPU Mining!


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