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The Bitcoin Halvening Is Coming

One of the controversial things about bitcoin (BTC) is that it pays the people that keep the bitcoin blockchain running and secure. These folks are called miners, purely because the process seems slightly similar to mining. The process of mining is to run software that executes the search for the solution to a puzzle that acts as the password to creating the next record on the bitcoin blockchain. Success in cracking this puzzle and then creating the next block of records is rewarded in bitcoin. At the moment the reward is 12.5 BTC, which at the rate of $8,000 a BTC is exactly $100,000.

That sounds like a lot of money to solve a lil’ ole puzzle. The trouble is the puzzle is to mash numbers to create a result with say 23 zeros, which, because of the math involved, means you have to do literally zillions of trillions of calculations to find one password code. Miners run these bazillions of calculations, sifting through the wrong answers to get to a single right one. This takes perhaps three years for a specialist machine running flat out at 50 trillion calculations a second, burning a few thousand dollars of electricity as it goes.

That doesn’t sound like a bad business model but as new mining machines enter the game, so the game gets harder, which means that the amount of time taken by any given machine to get a result goes up and so does the cost. Bitcoins difficulty has over the years gone truly exponential, so that the money a machine can make when put into a team of machines halves every six months or so as time passes. That makes making money mining tricky because while you may make great money to start with, after about 18 months it may have fallen to nothing.

Apart from increasing difficulty, mining also gets harder because every so often the blockchain will halve the reward. This last happened in July 2016. The reward is currently 12.5 bitcoin but soon enough the reward will be only 6.175 BTC. The price should rise to pay the miners more for their smaller haul of new bitcoin. If it doesn’t, unprofitable miners must stop work so the difficulty can fall and the job can get easier for those that remain or certain miners must get way more efficient and push the less efficient miners off the pitch.

Today In: Money

The general consensus is that the bitcoin price will rise.

The reason for this is that the inflation of the BTC money supply by 12.5 BTC every ten minutes, means that there is a new supply of 1,800 coins a day, let’s call it $14 million a day. This $14 million of new supply, which is currently absorbed by buyers, will suddenly be cut in half to $7 million. The demand, however, will remain roughly constant. Unchanged demand coupled with lower supply, equals price up.

This is how it has worked in the past and this is what I’m putting my money on. There are skeptics who suggest that if the price doesn’t move up then miners will wither away, block times will slow dramatically, bitcoin will be less useful, people will panic and dump and so on. However, there are a lot of people like me who would love that and would buy a lot into such a panic. Less supply, same demand, high price, wins the simple proven logical outcome of the next halvening.

But of course people are going to preempt.

To add to the price pressure, bitcoin gets lost. That happens to gold too and was also a problem for gold when it was money. That enables bitcoin to get ever more expensive overtime.

If a Satoshi was 1 cent, bitcoin’s market cap would be 21 trillion dollars, but when you think about it, if a Satoshi was $1 or $100, then it would become a currency much like gold, which in the past was used foremostly as a store of wealth, expressed in the usage for silver coins which acted as a store of wealth for the general usage of copper coins. This is the dream of all crypto fans, bitcoin as the reserve currency of crypto, an incredibly valuable blockchain fungibly linked on top of a hierarchy of other ‘lesser’ currencies.

It could happen.

The upcoming halvening speaks to this dream and it’s coming to the BTC blockchain in May. As a hodl’er I can wait.

Be among the first to get important crypto and blockchain news and information with Forbes Crypto Confidential. It’s free, sign up now.

Clem Chambers is the CEO of private investors website ADVFN.com and author of Be Rich, The Game in Wall Street and Trading Cryptocurrencies: A Beginner’s Guide. In 2018, Chambers won Journalist of the Year in the Business Market Commentary category in the State Street U.K. Institutional Press Awards.

Follow me on Twitter. Check out my website.

I am the CEO of stocks and investment website ADVFN . As well as running Europe and South America’s leading financial market website I am a prolific financial writer. I wrote a stock column for WIRED – which described me as a ‘Market Maven’ – and am a regular columnist for numerous financial publications around the world. I have written for titles including: Working Money, Active Trader, SFO and Technical Analysis of Stocks & Commodities in the US and have written for pretty much every UK national newspaper. In the last few years I have become a financial thriller writer and have just had my first non-fiction title published: 101 ways to pick stock market winners. Find me here on US Amazon. You’ll also see me regularly on CNBC, CNN, SKY, Business News Network and the BBC giving my take on the markets.

Source: The Bitcoin Halvening Is Coming

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With the next Bitcoin ‘halvening’ event taking place on May 22nd 2020, we are now officially less than a year away from this event occurring. In this video, I’m going to explain why I believe that this is a HUGE deal for cryptocurrency investors. DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make. ►►►Looking to get started with cryptocurrencies? Check out my crash course here (HUGE 80% OFF LINK): https://louis-thomas.teachable.com/p/… DONATIONS ♥ ETH: 0xc12f59c4e23dccd369437bbdb09470879d8c0825 ♥ BTC: 1L2LswVmTobmEK8dy6Yw9nWx93Z1zZ1jb3 ESSENTIAL CRYPTO RESOURCES ♦ Recommended place to buy Bitcoin/Ethereum: COINBASE – Sign up here: https://www.coinbase.com/join/5897724… ♦ Recommended Wallet: LEDGER NANO S – Available here: https://www.ledgerwallet.com/r/3c47 ♦ Recommended VPN provider: Nord VPN Available here: https://go.nordvpn.net/SH27y ♦ Learn to code with Ivan on Tech’s Academy. EXCLUSIVE offer – just $9 for first month: https://academy.ivanontech.com/louis SOCIAL MEDIA LINKS ● Website: louisthomas.co.uk ● Facebook: https://www.facebook.com/LouisThomasC… ● Twitter: https://twitter.com/LouisThomasYT ● Instagram: https://www.instagram.com/louisthomas… ● Steemit: https://steemit.com/@louisthomas ● Snapchat: louisxthomas

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MiningWe The Potential Crypto Mining Leader in Worldwide Financial Market

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MININGWE Bitcoin Cloud Mining is currently a leader in the cloud mining industry. As part of Bitmain Technology LTD. behind the MININGWE project is able to share with clients very reasonably prices with a small maintenance fee. Many big funds companies say MININGWE Bitcoin Cloud Mining is the future of all platforms in the cloud mining industry.

MININGWE Bitcoin Cloud Mining Service provider enables anyone to participate in the crypto economy. We firmly believe cryptocurrencies are the foundation for innovation, capable of reshaping our understanding of what currencies are, and how they are stored and transferred between individuals and businesses.

Our goal is to contribute to the advancement of the mining space and enable anyone to access mining operations to generate Crypto, including a secure digital wallet with a variety of exciting functions. Currently, mining needs intensive investments and a high level of technical understanding of mining hardware deployment and maintenance. We’re changing this. With our cloud mining service, it only takes a few simple steps to start bitcoin mining.

And that with minimum investment, minimal risk, and no technical knowledge needed. MININGWE (Bitmain) expert tech team has decades of experience in developing and operating large scale data centers. As a result, they’ve been able to keep uptime at 99% since our launch. Our high standards of security guarantees the full safety of your investment.

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Crypto space can be complex and unpredictable. It’s directly linked with the Bitcoin exchange rate, technological and community risks, and mining difficulties. And of course this makes it difficult to determine what exact amount you will make mining.. But it is obvious that being part of a community building such an elegant piece of disruptive technology, bound to become more stable and robust, is very exciting.

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A Stark Prediction For The Future Of Bitcoin, ETH, XRP, And LTC

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Bitcoin, ETH, XRP, and LTC prices, will be on a roller coaster for a long time. Traders and investors will make and lose fortunes in record time, betting on them. In the end, say some analysts, these cryptocurrencies will either die on their own, or be killed by the ‘establishment’ — big governments and big banks around the world that defend sovereign currencies.

Take the case for Bitcoin.

The “people’s currency” holds a great promise: to become the first true global currency, free of the control of central banks that print money and big banks that generate credit.  But to do that, Bitcoin must gain the trust of the “general public.“ This means it must be adopted as a medium of exchange, standard of value, and store of value, replacing national currencies.That isn’t easy, given the many obstacles Bitcoin has to overcome. Like lack of awareness, familiarity, and stability, etc. And that makes some experts bearish about the future of Bitcoin.

Bitcoin Price YTD

Bitcoin Price YTD

Lars Seier Christensen, Chairman of Concordium, the next-generation decentralized world computer, is one of them. “In the longer term, I am bearish on bitcoin as I believe it does not have the necessary characteristics of a longer-term valuable asset and, eventually, that reality will catch up” says Christensen.“But in the short term, price movements will likely be random as Bitcoin is affected by low liquidity and unpredictable bigger trades.”

Unpredictability will make it hard for Bitcoin to gain broad adoption as a medium of exchange. And without broad adoption, Bitcoin will remain a play for speculators and true believers, and eventually die on its own.

But even if Bitcoin overcomes all these obstacles and gains broad adoption by the general public, and was in a position to replace national currencies — ie, become the new currency — what would happen then?

Bears argue that the “establishment” cannot afford to let that happen.

For a couple of reasons, including  the loss of Seigniorage” — simply put, the profit made by the national governments by printing currency. Then there’s the profit made by banks helping circulate that money and create credit.

The establishment will do whatever it takes to defend these profits from Bitcoin and any other cryptocurrency that seeks to replace it.

Recent Congressional hearings on Libra attests to the determination of the establishment to protect the dollar from competing cryptocurrencies. In a rare display of unity, Democrats and Republicans opposed Libra, and had many unkind words for Bitcoin.

“Cryptocurrencies that are ONLY there as a currency substitute, however, have no real long-term future,” says Christensen.“They will be outlawed by governments wanting to control the money supply and taxation, and in any case, cryptocurrencies have no intrinsic long-term value of significance. Hence, Bitcoin will only survive as a fringe activity.”

Not everyone agrees with this gloomy assessment, however. Dave Hodgson, Director and Co-Founder of NEM Ventures, is one of them.

“In my opinion, Bitcoin will never die nor be killed by the establishment, despite some people’s efforts to the contrary,” says Hodgson. “The recent drop we have seen in Bitcoin is within the boundaries of what our analysts were expecting from technical analysis. However, the timescale has been slightly skewed in light of recent announcements, primarily from US government representatives.”

 Corentin Denoeud, CEO and Co-founder of Blockchain Studio, is another .

“The fact that governments around the world are even talking about crypto is a sign of progress for the blockchain industry in general,” says Denoeud. “While countries such as India have called for the outlawing of cryptocurrencies, representatives from Germany’s Central Bank have responded favourably and advanced the view that cryptocurrencies are not a threat to global monetary stability. Even China, who has previously banned ICOs and cryptocurrency trading, has called bitcoin a ‘safe-haven asset’ (via its state-run media agency) and is now reportedly stepping up its own efforts to create its own cryptocurrency, following Facebook’s unveiling of Libra.”

 While it’s still unclear which side is right, one thing is clear: Bitcoin (and ETH, XRP, LTC, etc) true believers who think that cryptocurrency will eventually replace national currencies, need a 101 lesson in Money and Banking.

Follow me on Twitter.

I’m Professor and Chair of the Department of Economics at LIU Post in New York. I also teach at Columbia University. I’ve published several articles in professional journals and magazines, including Barron’s, The New York Times, Japan Times, Newsday, Plain Dealer, Edge Singapore, European Management Review, Management International Review, and Journal of Risk and Insurance. I’ve have also published several books, including Collective Entrepreneurship, The Ten Golden Rules, WOM and Buzz Marketing, Business Strategy in a Semiglobal Economy, China’s Challenge: Imitation or Innovation in International Business, and New Emerging Japanese Economy: Opportunity and Strategy for World Business. I’ve traveled extensively throughout the world giving lectures and seminars for private and government organizations, including Beijing Academy of Social Science, Nagoya University, Tokyo Science University, Keimung University, University of Adelaide, Saint Gallen University, Duisburg University, University of Edinburgh, and Athens University of Economics and Business. Interests: Global markets, business, investment strategy, personal success.

Source: A Stark Prediction For The Future Of Bitcoin, ETH, XRP, And LTC

MegaMining The Next Generation To Home Crypto Business

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Mega Mining is an industry leading Bitcoin mining pool. All of the mining power is backed up by physical miners. Mining with the latest algorithms allows to make as much Bitcoin as possible. We aim to provide you with the easiest possible way to make money without having to do any of the hard stuff. With data centers around the globe, we aim to keep bills down and mining power high, meaning you can make more in a shorter amount of time than what it would take to mine from your home for instance. Our data centers are located in USA, Europe and China with dedicated Up-Links and 99% uptime!

We at Mega Mining aims to be the world’s leader in cloud mining by utilizing the most dynamic Mining Pools and focusing on the best paying cryptocurrencies. We believe that Cryptocurrencies are the future of financial system, which will transform the global payment system by providing faster, and safer transaction. Therefore we have set up Crypto Mining Facilities, which is the essential infrastructure for cryptocurrencies to function seamlessly.

You can also Upgrade Mega Mining to increase affiliate rate up to 100%.

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We are a group of experienced professionals in software development, industrial designing, server engineering, and data analysis with a passion for excellence that believes in the power of the team, integrity, and leadership.

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OWNBTC Cloud Mining

OWNBTC is a Cloud Mining Company. OWNBTC offers a unique opportunity in the cryptocurrency world by providing Shared Managed Mining Farms. The uniqueness of OWNBTC is that we lowered the cost of the individual miners and reduced the additional time-consuming efforts such as purchasing hardware, maintenance of equipment, utility bills and storage.

Individual miners can participate and earn a great passive income in crypto mining by only joining our crypto-mining programs at OWNBTC. We at OWNBTC aims to be the world’s leader in cloud mining by utilizing the most dynamic Mining Pools and focusing on the best paying cryptocurrencies.

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OWNBTC believe that Cryptocurrencies are the future of financial system, which will transform the global payment system by providing faster, and safer transaction. Therefore we have set up Crypto Mining Facilities, which is the essential infrastructure for cryptocurrencies to function seamlessly. Watch the demo below to see how it works:

OWNBTC is a group of experienced professionals in software development, industrial designing, server engineering, and data analysis with a passion for excellence that believes in the power of the team, integrity, and leadership.

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BEARS ARE WRONG: Why miners are banking on a huge Bitcoin price rise

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The Technology That Brings BitBase To Its Booming Grade of Mining In United Kingdom

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The Internet of Things, robotics and plasma are transforming mining into a safer and more productive industry. BitBase Mining-technology.com picks ten technologies with the potential to transform mining.

Mining is painstaking, expensive, and only sporadically rewarding. Nonetheless, mining has a magnetic draw for many investors interested in cryptocurrency. This may be because entrepreneurial types see mining as pennies from heaven, like California gold prospectors in 1849. And if you are technologically inclined, why not do it?

In addition to lining the pockets of BitBase miners, mining serves a second and vital purpose: It is the only way to release new cryptocurrency into circulation. In other words, BitBase miners are basically “minting” currency. For example, in February of 2019, there were a little over 17.5 million Bitcoin in circulation. Aside from the coins minted via the genesis block (the very first block created by Bitcoin founder Satoshi Nakamoto himself), every single one of those Bitcoin came into being because of miners. In the absence of miners, Bitcoin would still exist and be usable, but there would never be any additional Bitcoin.

Aside from the short-term Bitcoin payoff, being a BitBase miner can give you “voting” power when changes are proposed in the Bitcoin protocol. In other words, a successful miner has an influence on the decision-making process on such matters.

BitBase does cloud mining through its mining farms with advance technology and hashing algorithms and also allows free mining with the earning rate of 0.00000100BTC/min. There are premium plans for faster and better mining. Starting with BitBase requires a bitcoin address where we can send your earned btc. By adding your BTC address in the start mining box & you automatically start mining with free GHS.Withdrawing is easy just you need to have 0.00500000BTC to qualify. Yes, there is maintenance fee for only free miners all premium miners can withdraw anytime.

As name suggest maintenance fee is used to maintain the Data centers, Hash Ring, machines as well as improvements in support and security. It’s only applicable to free miners and does not deduct from mined BTC. Minimum withdrawals threshold is 0.005btc for every users joining as a free miners. Premium users can withdraw any amount.

Alternately, you can always leverage the “pickaxe strategy.” This is based on the old saw that during the 1849 California gold rush, the smart investment was not to pan for gold, but rather to make the pickaxes used for mining at BitBase..

Source: The Technology That Brings BitBase To Its Booming Grade of Mining In United Kingdom

MiningSky.io – A Canadian Based Cloud Mining Platform

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Satominer Leading Bitcoin Mining Pool – Mining Cryptocurrency Accessible to Everyone

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We believe in a future where you can pay with Cryptocurrencies for goods, online purchases, and even doctors’ consultations, and each person who owns Cryptocurrencies brings this moment even closer. That’s why we have focused on providing a convenient, simple cloud-mining service that is affordable for everyone.

There are crypto-enthusiasts, engineers, and representatives of various scientific fields in our team. They can provide users with a service that is aimed not only at the existing crypto-community, but also at completely new users. When we created Hashmart, this was our goal.

You can start to invest in the leading technology of this decade legally and safely today, and get a return on a daily basis. Join people from all around the world who have already acknowledged Bitcoin and other Cryptocurrencies, and have already made a significant profit from their investments.

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10 Year Anniversary of Hal Finney’s Running Bitcoin Tweet: Rapid Growth

The late cypherpunk and cryptographer had just become the first person to receive the digital currency from its creator Satoshi Nakamoto himself. But more importantly, he had become the first person to trust bitcoin for its immense potential. He would run its code, review its anonymity and environmental drawbacks, suggest changes, and would entirely immerse himself to support an open-source project that would one day grow up to challenge the status-quo of mainstream finance.

Source: 10 Year Anniversary of Hal Finney’s Running Bitcoin Tweet: Rapid Growth

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