Bitcoin Halving Explained (Animated) - Why, How, and What it Means for You!
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- Опубликовано: 20 июн 2021
- Are you looking up what Bitcoin Halving means? Bitcoin Halving is an event that cuts the rewards for mining bitcoin in half roughly every 4 years to help with the cryptocurrency inflation.
Halving means "buy now, to the moon later"
This was SUCH a great video!!! Very informative and easy to understand. Thank you!!
It's funny that I've watched plenty of "How Proof of Work works" but this video finally made it clear XD Thank You so much! Great video as always
This is so helpful, thank you very much for sharing
Thank you for this. Out of all the videos I've watched so far, this Thanos explanation made much more sense
Lobe the way you explain this stuff so easy !!
Great video! Thank you!
What I still don't get is who/what does the calculation of the difficulty for the block solving and ultimately changes the difficulty if that's needed? In my mind this shall still be a "centralized entity"... Or did I get it wrong?
great video ! you make this information so understandable!
Amazing that you are interested in crypto it is the future! Just made a video explaining the bitcoin halving and crypto cycle if you are interested in more crypto vids
There shall be teachers like you , man !
Nice job!
What I have yet to see satisfactorily addressed is why the block reward is reduced by 50% every 210,000 blocks giving a lumpy four year cycle, instead of e.g. reduced by 16% every 52,500 blocks, giving a yearly cycle and thereby smoothing out the impact on the bitcoin system.
I completely agree with Thanos snapping away half the population. Good video
Thanks
Thank you for video 🧐
Amazing.
Admirable job, *Vortextrace* I’m glad to see you actively combating these individuals who lack integrity. We must prioritize the protection of the elderly and the wider public from these reprehensible scammers! Well done, my friend!! You deserve the Nobel Peace Prize for your commitment to keeping us safe.!!!!!!!!!!!!!!
That end is terrible. We dont know....
Miners not only get paid throw the blockreward they also get the transaction fees of the users. What makes them profitable even ofter the blockrward gets zero.
i think , the best way is after reaching 21000 bmpkcs minned , we adjust how muc minners get using the statisctics of the price of the bitcoin
That is a powerful thumbnail
Weird that so much happens the same year, every 4 years: BTC halving, Leap Year, Summer Olympics, US Presidential election...
Miners will get rewarded with Bitcoin from transaction fees when the rewards go to 0 due to halving
I think halving is good. People are still learning about bitcoin and Defi and this halving event gives them more time to stumble on it. In a way, it's preventing a very select few from having more than they will ever need.
About deflation, I think sometime in the future to prevent it, bitcoin could just phase out the current coins and introduce a new one with a different design. Just like how Germany changed its currency during inflation after WW1. They could set a time limit to replace the coin after which the old ones would no longer be of value.
This way they could account for the coins in circulation but more importantly, the ones that were lost in inaccessible wallets. They could then continue the same mining cycle again.
Great Video! Is bitcoin going to move from Proof of Work to Proof of Stake? And congrats on 1,000 Subscribers!
Thank you, 1k felt great! I don't believe there has been any confirmation on bitcoin switching consensus algorithms at the current moment, only some speculation and rumors. We should have a bitcoin video at some point coming out!
@@WhiteboardCrypto now u have reached 400k
The one question that still till this day I can't seem to wrap my head around is: the halving protocol was introduced post infancy and not originally part of the BTC WhitePaper, then if there is no post interference or regulation as the original WP proposes then what is to say that another protocol of equal weight will not be introduced in the future?
Well 51% of ppl would have to agree on that change on the blockchain
@@saulw6270 correct me if I’m wrong doesn’t the founder(s) Satoshi Nackimoto still possesses a significant amount of BTC from the founders reward portion from the release date?
miners will also be in profit even after rewards got zero. Because at that time of period bitcoin value skyrocket and gas money would be sufficient for miners earning.
Great video. Thanoa was wrong.
Nice video 😊 .I was thinking about this from some time can we connect on discord and have a conversation ( audio) about crypto because I have too many doubts and no guidance. So it would be great help for me if you would host a conversation on discount
Are you currently in our discord group at the moment? Shoot us a message in general and we can chat more!
@@WhiteboardCrypto ya in am in the group name:- mac007
The system is so potential susceptible to tragedy when the number of miners will fall due to zero rewards and poorer commissions,
the network will thus become more vulnerable. This could make the network a target of 51% an attack that occurs when most of the computing power of the network is controlled by one area (China) or miner
Keep in mind that miners get transactions fees and as Bitcoin becomes more a currency in use, the quantity of those fees (rewards to miners) will rise.
Who’s gonna pay them those fees and with what
there wont be any problem with bitcoin being close to zero because there all ways be the fees from the transmissions
What happens when it halves to 0 is a big question
Yeah sir, found me some gold
i guess the less profitable it becomes miners "sell" price will have to be that much higher pushing it up
That’s if someone’s there to buy
So if the miners solve a problem they are given 6.5 Bitcoin for creating 1 bitcoin?
Say there are 2500 miners trying to solve that problem to create 1 bitcoin, who gets the payment of 6.5 Btc?
Who now owns that 1 newly created BTC?
ACK audio plosives! Please buy a better pop filter
Wtf is the problem they are solving .. how and why are they creating blocks and for what..
The real question that has to be answered is at the end of the halving. What then???
What happen if we mined all bitcoins?
You just gave us a great video idea "When all the bitcoins are mined" - we'll definitely be working on this :)
@@WhiteboardCrypto did you figure this out?
@@mikimouse98ps3 No need to be concerned because you will not be alive.
After all 21M bitcoins are mined, miners will be rewarded with the transaction fees to process each block.
When the price reaches 0 does it mean there won't be any Bitcoins to be mined? Or what happens if the miners do not want to mine Bitcoins anymore since there will be no reward!
Bitcoin is Thanos
amazing content if anyone is interested in more crypto knowledge just made a vid explaining the crypto cycle
If Satoshi Started Mining 2009, and the Bitcoin Halving even happens every 4 years, shouldnt be the halving happenning now at 2021? 2009-2013-2017-2021? >>¡¡¡*_PUMP UP_*¡¡¡
The next halving aft 2017 halving alrdy happened in 2020, hence the pump in mid 2021