The famous HALVING is coming! Why is it important to consider this event? What can you expect when Bitcoin Halving occurs?

Consider this: we are currently in the midst of the HalvingWithBinance campaign. By inviting your acquaintances and friends to Binance, you can earn rewards totaling $50,250 in BTC! This is undoubtedly a way to generate #PassiveIncome ! The more friends you invite, the greater the rewards. How does this work to make money without doing anything? I explain it in another article: How to earn money without investing your money

Understanding Bitcoin HALVING

Let me explain it in simple terms so that anyone, regardless of their knowledge of Bitcoin, can understand.

  1. Bitcoin is the cryptocurrency "BTC" that operates on a decentralized ledger commonly known as a "network" (blockchain) of the same name - the Bitcoin network or Bitcoin Blockchain.

  2. Every BTC transaction is recorded on the public and decentralized ledger, which is encrypted by Bitcoin miners. This method of writing, validating, encrypting, and immortalizing data on the blockchain is called PoW (Proof of Work), and miners are rewarded with Bitcoin for their work.

  3. So, miners use their powerful computers to solve complex mathematical problems (for encrypt) and validate transactions on the Bitcoin network. In exchange for this work, they are rewarded with new Bitcoins, which they keep, of course.

  4. In the Bitcoin blockchain network, transactions are grouped into blocks. Each block on the Bitcoin blockchain has a defined maximum size in megabytes (MB) and a capacity limit in terms of the amount of data it can contain. Individual transactions vary in size depending on the amount of data they contain.

  5. I cannot say exactly how many transactions go into a block within the Bitcoin blockchain, as the exact number can vary depending on factors such as transaction size, block size limit, transaction fees, and protocol updates.

  6. The issue of "blocks" is IMPORTANT because HALVING occurs every 210,000 mined blocks...this information is key! At each HALVING, the reward miners receive is halved. It's like someone giving you half the candy they used to give you before. In Bitcoin terms, this means that the number of new Bitcoins created after each Halving is reduced.

What can you expect when Bitcoin Halving occurs?

HALVING impacts the total supply of Bitcoin. When fewer new Bitcoins are created, it becomes more difficult to obtain them. Some people believe this may cause the price of #BTC to rise as supply is limited and demand remains strong

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