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A simple explanation bitcoin halving 2020
Bitcoin Halving 2020
This video is a quick explanation of the Bitcoin Halving and the trends that surround it.
There are only 21 million Bitcoins that can be mined in total. Once miners have unlocked this many Bitcoins, the planet's supply will essentially be tapped out, unless Bitcoin's protocol is changed to allow for a larger supply.
It is the result of a 50 bitcoin reward half life of 210,000 blocks. Reward starts out at 50 bitcoins and halves ever 210,000 blocks. ... Because Bitcoin is designed with an 8 decimal fraction system, the 21 million total BTC can actually be expressed as 21,000,000.00M = 21,000.00Billion = 21.00Trillion.
source:google.com
1 Bitcoin = 1 = 0.000089 BTC / satoshi's
Total Bitcoins in circulation: 16,825,600
Blocks until mining reward is halved: 123,952
https://youtu.be/cbcv2G-FQBg
What is the Bitcoin Halving and Why is It Important? http://www.nasdaq.com/article/what-is-the-bitcoin-halving-and-why-is-it-important-cm646655 via @BitcoinMagazine @Nasdaq
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Replies (5)
Mabye its just me, but why does it halve? :)
The reward the miners get is halved every 210,000 blocks.
What a strong hand post! The importance of the halvings can't be stressed enough! I lived through the 2016 one and I look forward to the 2020 one and beyond! You do a great service for the community by getting people more familiar with the concept. Upvoted and re-steemed of course
thank you, very useful for me to know
Value your wealth in Bitcoin!