What is Bitcoin Halving? - Crypto in Plain English - Episode 50 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it6 Joulu 2021

What is Bitcoin Halving? - Crypto in Plain English - Episode 50 - by cryptohunt.it

What is Bitcoin Halving?

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

Today, let’s talk about Halving of Bitcoin.

“Bitcoin Halving” refers to specific events where the reward for mining Bitcoins is cut in half. Let’s unpack that a bit.

Transacting with Bitcoin is only possible, because so-called miners run complicated computer algorithms to validate every transaction. This process is called proof of work, and we recommend you listen to our episode on that. But in summary, you need to understand that it takes a lot of energy and hardware to mine Bitcoin. That’s why the system has to pay rewards to miners. Those rewards currently pay 6.25 Bitcoins for validating a chunk of transactions, also called a block.

When halving happens, the reward per block gets cut in half. At that point it will be half of the current 6.25 Bitcoins, dropping it to 3.125 Bitcoins, hence the name. Halving happens every 210,000 mined blocks, meaning the next halving will happen sometime in 2024.

So, why is Halving built into Bitcoin? Because, by design, the blockchain has a total amount of 21 million Bitcoins that can ever be created. But not all of those are in circulation, currently about 2 million are still set aside for mining rewards. Now, imagine you would keep giving miners the same rewards forever - eventually you’d run out of rewards. Halfing slows this process down.

And that’s halving! And in the next episode we’ll talk about why Bitcoin was designed that way and if halving is a good or a bad thing.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

Jaksot(373)

The craziest crypto scams and hacks: Part 1: How Mt. Gox lost $50bn in a Bitcoin hack - Crypto in Plain English - Episode 125 - by cryptohunt.it

The craziest crypto scams and hacks: Part 1: How Mt. Gox lost $50bn in a Bitcoin hack - Crypto in Plain English - Episode 125 - by cryptohunt.it

The craziest crypto scams and hacks: Part 1: How Mt. Gox lost $50bn in a Bitcoin hack Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. This week we wi...

21 Maalis 20222min

Does the world need crypto? Part 4: The ingredients of the perfect blockchain - Crypto in Plain English - Episode 124 - by cryptohunt.it

Does the world need crypto? Part 4: The ingredients of the perfect blockchain - Crypto in Plain English - Episode 124 - by cryptohunt.it

Does the world need crypto? Part 4: The ingredients of the perfect blockchain Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Welcome back to our min...

18 Maalis 20222min

Does the world need crypto? 123 – Part 3: DeFi to the rescue? - Crypto in Plain English - Episode 123 - by cryptohunt.it

Does the world need crypto? 123 – Part 3: DeFi to the rescue? - Crypto in Plain English - Episode 123 - by cryptohunt.it

Does the world need crypto? 123 – Part 3: DeFi to the rescue? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Let’s continue our mini-series on: Does...

17 Maalis 20222min

Does the world need crypto? Part 2: Replacing the banking system - Crypto in Plain English - Episode 122 - by cryptohunt.it

Does the world need crypto? Part 2: Replacing the banking system - Crypto in Plain English - Episode 122 - by cryptohunt.it

Does the world need crypto? Part 2: Replacing the banking system Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Welcome back to our mini-series on: ...

16 Maalis 20222min

Does the world need crypto? Part 1: Decentralization - Crypto in Plain English - Episode 121 - by cryptohunt.it

Does the world need crypto? Part 1: Decentralization - Crypto in Plain English - Episode 121 - by cryptohunt.it

Does the world need crypto? Part 1: Decentralization Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. The reason Bitcoin exists in the first place is ...

15 Maalis 20222min

cryptohunt is launching! How to get a spot - Crypto in Plain English - Episode 120 - by cryptohunt.it

cryptohunt is launching! How to get a spot - Crypto in Plain English - Episode 120 - by cryptohunt.it

cryptohunt is launching! How to get a spot. Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, we have something exciting to cover. After a long ...

14 Maalis 20221min

What is a 51% Attack? - Crypto in Plain English - Episode 119 - by cryptohunt.it

What is a 51% Attack? - Crypto in Plain English - Episode 119 - by cryptohunt.it

What is a 51% Attack? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, let’s dig into the topic of 51% attacks. Remember: One of the core ideas...

11 Maalis 20222min

What makes Dash special? - Crypto in Plain English - Episode 118 - by cryptohunt.it

What makes Dash special? - Crypto in Plain English - Episode 118 - by cryptohunt.it

What makes Dash special? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, let’s talk about Dash, another crypto currency that was built with pr...

10 Maalis 20222min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
psykopodiaa-podcast
rss-rahapodi
ostan-asuntoja-podcast
rss-rahamania
rahapuhetta
rss-laakispodi
rss-sisalto-kuntoon
herrasmieshakkerit
rss-lahtijat
rss-bisnesta-bebeja
rss-seuraava-potilas
inderespodi
rss-sami-miettinen-neuvottelija
leadcast
timanttia-hiomassa
rss-kohti-unelmia
rss-juurisyy-johtamisesta-kilpailuetua
rss-porssipodi