Every 4 years on average (210K blocks) the reward granted to Bitcoin miners for adding a block to the blockchain is cut in half. The Bitcoin halving A Bitcoin halving event is when the reward for mining bitcoin transactions is cut in half.Learn more was designed by Satoshi Nakamoto to keep Bitcoin’s inflation in check.
Since the halving basically cuts the supply of new BitcoinBitcoin1$ 16,516.210.18%-6.01%-15.89%details in half, many believe this event will have a dramatic effect on Bitcoin’s price.
That’s the Bitcoin halving in a nutshell. If you want a more detailed explanation Halving keep on watching, here’s what I’ll cover:
0:46 Bitcoin mining in a nutshell
1:21 What is Bitcoin halving?
1:37 Halving timeline
2:07 Why halve the mining reward?
3:30 Does the halving affect Bitcoin’s price?
4:33 Bitcoin’s scarcity