Bitcoin Halving: Are You Ready? Here’s Why You Should Care.

Victor Suday
3 min readFeb 19, 2024

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A Picture of bitcoin sliced in to 2 halves,Just to represent bitcoin halving

Bitcoin halving is one of the most anticipated events in the crypto world. It is a process that reduces the amount of new bitcoins created and distributed to the miners every 10 minutes. It happens every 210,000 blocks, or roughly every four years until the maximum supply of 21 million bitcoins is reached.

The next bitcoin halving is expected to occur in April this year (2024) when the block reward will drop from 6.25 bitcoins to 3.125 bitcoins per block. This will be the fourth halving in Bitcoin’s history, following the previous ones in 2012, 2016, and 2020.

But why should you care about Bitcoin halving? What impact does it have on the price, the supply, and the security of Bitcoin? Here are some of the main reasons why you should pay attention to this event:

Bitcoin halving affects the supply and demand of bitcoin. By reducing the rate of new bitcoins entering circulation, the halving lowers the inflation rate of bitcoin and makes it more scarce and valuable. According to the economic theory of supply and demand, when the supply decreases and the demand remains steady or increases, the price tends to go up. This is what happened in the past halvings when Bitcoin experienced significant price increases in the months and years following the event. For example, after the 2016 halving, bitcoin reached its all-time high of nearly $20,000 in 2017. Of course, there are many other factors that influence the price of Bitcoin, such as market sentiment, regulation, innovation, and competition. But the halving is certainly one of the key drivers of Bitcoin’s long-term price appreciation.

Bitcoin halving ensures the security and decentralization of the network. By rewarding the miners for validating transactions and securing the network, the halving incentivizes them to continue their work and maintain the integrity of the blockchain. The halving also prevents the miners from abusing their power and manipulating the network, as they have to compete with each other for the limited block rewards. The halving also ensures that no one can control more than 50% of the network’s computing power, which would allow them to double-spend or censor transactions. This is what makes Bitcoin decentralized and trustless, as no central authority or intermediary can interfere with the system.

Bitcoin halving reflects the vision and philosophy of Bitcoin’s creator, Satoshi Nakamoto. By designing Bitcoin as a deflationary and finite currency, Satoshi Nakamoto wanted to create a digital alternative to the traditional fiat money that is controlled by governments and central banks. He wanted to create money that is independent, transparent, and fair, and that can preserve its value over time. He wanted to create money that was not subject to manipulation, inflation, or corruption. He wanted to create money that was for the people, by the people, and of the people. The halving is a manifestation of this vision and philosophy, as it shows that Bitcoin is governed by mathematics and code, not by human whims and interests.

As you can see, bitcoin halving is a very important and exciting event that has profound implications for the future of Bitcoin and the crypto industry. It is an event that you should not miss, as it may offer you a unique opportunity to learn more about Bitcoin, invest in it, or participate in its network. If you are interested in Bitcoin halving, you can check out some of the resources below to find out more information and to track the countdown to the next halving.

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Victor Suday
Victor Suday

Written by Victor Suday

Creative Writer | Graphic designer | Blockchain, Web3 & 4IR enthusiast.

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