THE IMPACT OF BITCOIN HALVING!!
If you still don't understand the concept of #Halving (or maybe you are new). Kindly check this out!
First what is #Halving & how might it double Bitcoin’s price? Companies are buying Bitcoin but why, isn’t there a dip coming?
Well, let’s reveal the mystery;
Halving means a reduction by half. No, don’t worry! The bitcoins in your wallet won’t get halved. Bitcoin has a function that keeps reducing the mining rewards by half after a specific number of blocks (of transactions).
Let’s learn how “The Bitcoin Cycle” works.
When you're sending your Bitcoin to buy your favorite NFT, you just enter the receiver wallet address& then forget &start scrolling Facebook. You don’t know what's happening behind the scene.
You check after a while& still see the NFT marketplace is waiting for 3 confirmations. Then you search for Blockchain Explorer, enter the wallet address or transaction ID, & find that only 2 confirmations are made.
Who is making the confirmation? Who is behind the whole Bitcoin system? Hey dude, there is no central server. There are thousands of dudes like you& me who are buying graphics cards & powerful CPUs, but not for gaming like you, but for mining. No, I’m not talking about Minecraft. They're mining Bitcoin!
There are thousands of miners, who set up thousands of server computers to mine Bitcoin. They calculate transactions & blocks, providing safety & stability to the blockchain of Bitcoin. Obviously, Their mom& dad aren’t happy, but why should they care? They're greeting fresh Bitcoins in their wallet as rewards.
Even you shouldn't care, if you can now make money by posting on Square. You know Square announced a challenge called #HotTrends recently where you can post content-specific topics to earn a few bucks?
Well just search for it.
Okay, so Bitcoin halving means, you'll still pay the same network fee while buying Dinosaur/Monkey NFT. But our heroes, miners will get half of the Bitcoin they used to get. So in a few years, Bitcoin volume will be half. Meaning the price will become x2
#Write2Earrn
If you still don't understand the concept of #Halving (or maybe you are new). Kindly check this out!
First what is #Halving & how might it double Bitcoin’s price? Companies are buying Bitcoin but why, isn’t there a dip coming?
Well, let’s reveal the mystery;
Halving means a reduction by half. No, don’t worry! The bitcoins in your wallet won’t get halved. Bitcoin has a function that keeps reducing the mining rewards by half after a specific number of blocks (of transactions).
Let’s learn how “The Bitcoin Cycle” works.
When you're sending your Bitcoin to buy your favorite NFT, you just enter the receiver wallet address& then forget &start scrolling Facebook. You don’t know what's happening behind the scene.
You check after a while& still see the NFT marketplace is waiting for 3 confirmations. Then you search for Blockchain Explorer, enter the wallet address or transaction ID, & find that only 2 confirmations are made.
Who is making the confirmation? Who is behind the whole Bitcoin system? Hey dude, there is no central server. There are thousands of dudes like you& me who are buying graphics cards & powerful CPUs, but not for gaming like you, but for mining. No, I’m not talking about Minecraft. They're mining Bitcoin!
There are thousands of miners, who set up thousands of server computers to mine Bitcoin. They calculate transactions & blocks, providing safety & stability to the blockchain of Bitcoin. Obviously, Their mom& dad aren’t happy, but why should they care? They're greeting fresh Bitcoins in their wallet as rewards.
Even you shouldn't care, if you can now make money by posting on Square. You know Square announced a challenge called #HotTrends recently where you can post content-specific topics to earn a few bucks?
Well just search for it.
Okay, so Bitcoin halving means, you'll still pay the same network fee while buying Dinosaur/Monkey NFT. But our heroes, miners will get half of the Bitcoin they used to get. So in a few years, Bitcoin volume will be half. Meaning the price will become x2
#Write2Earrn