A massive event just took place Bitcoin Halving what does it mean?
Something happened that only happens 1 time every 4 years...
Bitcoin mining rewards halved!
What does it mean?
Simply put, miners only earn half what they used to for solving a block.
You may know when BTC started, approximately 50 BTC
where mined (awarded to the miner) every block (every 10 minutes)
That was 7200 BTC per day available to be earned mining from your computer!
As time goes on, 2 things have happened.
How much you get rewarded for mining BTC has reduced,
(halving every 4 years)
and how hard it it s to mine has increased.
(increased difficulty level both mathematically and competitively)
After 4 years, that 50 BTC rewards halved to 25 per block.
then halved again to 12.5 and now in 2020... only 6.25 BTC per block.
It will remain like that until 2024 when it halve again.
This powerful reducing
is exactly why we modeled the Asimi minting schedule to do the same.
What has happened with the last 2 halvings?
While each halving resulted in volatile price,
the year to follow was always a strong year for growth of BTC,
While there are many contributing factors to price growth,
one of the primary reason is the severe drop in new inflation.
(half the amount of new coins to hit the market)
This is in stark contrast to how monetary policy
is done globally with currencies like Dollars, Pounds Euro, ect
which continuously erode your purchasing power.
A schedule like BTC does a couple of things.
Highly rewards early adopters
Makes for a rocky start as the coin finds its value but an incredibly exciting finish as a squeeze happens as time goes on that can drive price through the roof! (Like we have seen with BTC)
Through increasing demand while also decreasing new supply,
incredible things happen.
We talk about that a lot here
and exactly why we modeled the BTC schedule with Asimi.
If you want to REALLY success with Asimi
over the months and years to come... I recommend you watch it
Have a great day, and as always, thank you😇
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