How does the halving work?

[Anonymous No.18177379]

All jokes aside, what is this halving that's gonna happen, what does this mean for bitcoin? Has this happened in the past?

[Anonymous No.18177390]

If BTC now is worth $6200, after the halving will be $3100. Easy.

[Anonymous No.18177396]

>>18177390
fpbp

the /biz rule

[Anonymous No.18177401]

>>18177390
They literally make bitcoin worth half the amount it was?

[Anonymous No.18177420]

>>18177401
Yes.

[Anonymous No.18177425]

>>18177396
You explain it then...

[Anonymous No.18177446]

>>18177379
https://lmgtfy.com/?q=what+is+the+halvening

[Anonymous No.18177450]

>>18177425
he's fucking with you. half the supply is burned on a per address basis. so if you had 2 total in your bitcoin wallet now you have 1 after the halving. Also miners only mine half the amount going forward.

[Anonymous No.18177477]

>>18177450
Oh c’mon, don’t ruin the fun explaining how it actually works...

[Anonymous No.18177488]

Amount of bitcoins being produced drops by 50%. Planned scarcity designed to fuel value.

[Anonymous No.18177507]

>>18177450
Thank you for being the one decent person on this board

[Anonymous No.18177538]

>>18177507
Well, fuck you, you faggot. I was the only person in this thread who actually gave the correct answer.

[Anonymous No.18177577]

>>18177379
Yes it has happened before.
Originally the block reward was 50 BTC. Every 210,000 blocks, that reward halves. That’s about every 4 years. In 2012 it halved to 25 BTC, in 2016 it halved to 12.5 BTC, in 2020 it will halve to 6.25 BTC, in 2024 it will halve to 3.125 BTC, in 2028 it will halve to 1.5625, in 2032 it will halve to 0.78125 and so on and so forth, until it eventually hits 0. That’s predicted to happen in 2140. From there on the block reward will solely be tx fees from the tx’s in the block.

[Anonymous No.18178183]

>>18177577
Don't listen to this brainlet.
Halfening literally means 50% of all adresses will be destroyed. They do this whenever the price tanks too much to decrease supply and increase value. So in a few years time they can be proud again on the parabolic growth

[Anonymous No.18178210]

>>18177379
Halvening means half of this brainlet board will think you’re not baiting

[Anonymous No.18178236]

>>18177390
Pretty much this. There are finite amount of Bitcoin out there, so they will introduce two times the current amount, so the price at that time should drop by a factor of two. If you haven't sold yet, that's your issue...

[Anonymous No.18179439]

>>18177379
the amount of BTC mined at a time is halved. less rewards for miners. price will dump but recover and reach new ATH

[Anonymous No.18179784]

>>18178183
just imagine every halving the most valuable 21st addresses get half their balance redistributed to all addresses with some transactions in the recent past.

[Anonymous No.18179803]

>>18179784
thinking about it, what would the implications of such a mechanism be?

[Anonymous No.18179856]

>>18179784
coining in ComradCoin (CC).

[Anonymous No.18179914]

>>18179803
a race to the bottom of having your money in small amounts on a lot of addresses, so in the end it would just be max the smallest fraction of a coin on any wallet

[Anonymous No.18179928]

Jesus you retards have any of you actually used crypto before? The halving is when the mining pool is reduced by half. This means that half the miners right now won't be around after May. This is done to ensure the maximum amount of Bitcoin can never be mined and for making BTC increasingly scare over the years which ensures it's value will continue to rise over time, just like actual gold. This is why there is always a bull run after a halving.

[Anonymous No.18179961]

>>18179914
so true equity. Guaranteed influx of transactions. And lost addresses would have their balance redistributed over time. I think we are onto something here

[Anonymous No.18179978]

>>18179961
no, just an inconvenience because you can't guarantee a mapping of 1 wallet to 1 person, so you just have to have a tool to organize multitudes of wallets

[Anonymous No.18179980]

>>18177379
every miner's paycheck is halved. what happens when you reduce the "supply" in "supply and demand"?

[Anonymous No.18180003]

>>18179980
it's more like what happens when you pay a miner half for the same amount of work?

[Anonymous No.18180119]

>>18180003
amount of miners will be reduced
transaction times will increase even further
transaction costs will increase
nothing will change in the end though because of bitcoin's legacy

[Anonymous No.18180331]

>>18177379
It decreases the mining reward by half. It occured few times already. At first it was 50 BTC per mined block. Right now it's 12.5 BTC, in few weeks it's going to be 6.25 BTC.

Most of people think, that by decreasing amount of mined bitcoins, it's price is going to go up. But they're utterly wrong. If the price doesn't go up permanently by 2x, miners are going to find themselves dropping out of mining business, as they're not going to be able to pay bills and sustain their infrastructure. The only way to solve this problem is by increasing amount of transactions, thus paying more fees for each transaction. But since there is a 1 MB block size limit, you can't send more than 4 transactions per second, which will make fees sky high in the next few halvenings, which is going to kill bitcoin sooner or later.

That's why people are investing in other cryptos like BCH or BSV, which are making their focus on mining bigger blocks, thus increasing amount of transactions, which makes miners to earn more sats.

[Anonymous No.18180803]

>>18180331
every halving the price has significantly gone up, so what's the deal? Miners do get less, which means BTC is harder to come by, which will raise its price.

So question is, will btc drop in price? Cuz it's worth nothing in real life, but if that's the case then the other shitcoins will also go down in price cuz it's all bullshit on the internet.

We can thus deduce that btc will be staying, as long as other coins are staying so will it, because if bitcoin dies so will all the other altcoins.