1. PixelPlaygroundHome
  2. Metaverse Insights

When will Bitcoin production halve (Bitcoin production halve every 4 years)

• Metaverse Insights • 81 views

When will Bitcoin production halve (Bitcoin production halve every 4 years)

When will Bitcoin production halve? With the decrease in blockchain rewards and the rise in Bitcoin prices, more and more people are paying attention to the upcoming round of mining difficulty adjustment (Bitcoin DifficultyReduction) According to the latest data statistics from BTC.com, currently 6 nodes have achieved mining computing power exceeding 1EH/s. Five of them are the ‘Proof of Capacity’ (POC) consensus algorithm, which means that if all transactions on the Bitcoin network are packaged in a new block, no one can use the blockchain to run validation programs, then this number will increase significantly. In addition, from a technical analysis perspective, it is expected that more miners will join in the new mining

The other one is from Japan. According to Cointelgraph, the Japanese government announced on April 24 that it would implement a strict regulatory system for Gopax, the Cryptocurrency exchange. Previously, the Financial Services Agency of Japan had issued the “Notice on Strengthening the Management of Virtual Currency Related Activities” (the “Notice”), a guidance on virtual currency business activities, and said that it would develop relevant measures at an appropriate time to prevent market risks. It is reported that the announcement also revealed that due to the high volatility of Bitcoin prices, many companies choose not to raise funds through ICO, resulting in the inability of project parties to operate normally. Therefore, these plans are contrary to the company’s business model and will to some extent undermine the stability of the Bitcoin market However, Bitcoin prices will decline because Bitcoin mining companies typically make profits by purchasing more equipment or other assets. But in reality, this is not the case. Although most investors still believe that Bitcoin prices may decline, some institutions are still investing in Bitcoin futures contracts and other derivatives, as well as the returns generated from this. However, although there has been a significant decline in Bitcoin prices in recent months, some respondents have also expressed their desire to see Bitcoin prices remain stable for some time to come. For example, recently there was news that Kakao, the largest encryption platform in South Korea, is testing its own encrypted token KLAY; Meanwhile, a source named “V God” told TheBlock that Klaytn is collaborating with Tether to develop a functional token for exchanging Bitcoin It is worth noting that since October 2017, the BCH community has been enthusiastic about discussing the issue of BCH’s production reduction. However, it was not until December last year that there was a large-scale decline in the supply of Bitcoin, which means that the total amount of Bitcoin has not been greatly affected, especially the second major bull market in 2018, which also raised concerns about the oversupply of Bitcoin

Bitcoin production halves every 4 years

According to Cointelgraph, according to a report from the Bitcoin Foundation, a halving will occur every 4 years. The institution expects this event to occur in early 2020. According to reports, there are currently over $1 billion in BTC obtained from mining, compared to less than $100 million (approximately 1% of the total supply) last year

In addition, the report also said that although many people in the Cryptocurrency community believe that the current market situation is sustainable and healthy, these critics may kill the market due to unclear investor protection measures.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/22401/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/07/2023 02:20
Next 08/07/2023 02:42

Recommended articles