Summary
TLDR: Bitcoin is experiencing its fourth scheduled halving, where the reward for mining new blocks is halved every four years. This event impacts the supply of new bitcoins and has historically led to bullish price movements. Bitcoin Magazine is hosting a livestream event to commemorate the halving, highlighting past milestones and looking towards the future of Bitcoin.
Key Points
1. The Bitcoin halving refers to the process by which the reward for mining new blocks on the Bitcoin blockchain is reduced by half. This reduction occurs approximately every 210,000 blocks, or roughly every four years.
2. The halving event is significant for several reasons. Firstly, it directly impacts the supply of new bitcoins entering circulation. With the block reward reduced, the rate of new bitcoin creation slows down, leading to a gradual decrease in the available supply. This scarcity is a fundamental factor driving Bitcoin’s value proposition as a store of value.
3. To celebrate this momentous occasion, Bitcoin Magazine is hosting a halving livestream event tonight, powered by Kraken. This livestream, which will feature key players in the Bitcoin industry like Strike CEO Jack Mallers, as well as celebrities like Dave Portnoy, will delve into the top 21 moments of the last Bitcoin epoch, highlighting important milestones and developments within the Bitcoin ecosystem.