Q. What is the history behind Bitcoin Halving?
janhvi

Technical writer


What is the history behind Bitcoin Halving?

Let’s look at the history behind Bitcoin the halving process that took place throughout the years.

  • The first Bitcoin half-off was made on November 12, 2012 which reduced Bitcoin reward by fifty BTC up to just 25 BTC.
  • The next Bitcoin half-off was announced in July of 2016, reducing Bitcoin reward by the current 25 BTC and up to 12.5 BTC.
  • The most recent Bitcoin reduction was in May of 2020, reducing Bitcoin rewards even further, by 12.5BTC and up to 6.25 BTC.

The next Bitcoin halves event is scheduled to occur in early 2024. Following that Bitcoin’s reward will go lower to 3.125 BTC. The concept behind Bitcoin reduction is that a it is a limited supply that will boost demand, increasing the value of Bitcoin.

The final Bitcoin half-life is predicted to take place in 2140 once the amount of Bitcoins surpasses the limit of number of 21 million.


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Jan, 2024

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One among the 700 other, is the bitcoin, which was the first ever of its type. Bitcoin is a form of cryptocurrency that is not regulated by the government. Cryptocurrency is a market that is nearly a decade old and in its early stage. There can be many benefits of using a cryptocurrency but along with that comes the risk involved, that one must not forget to consider. It is believed, "like the internet, bitcoin will change the way people interact and do business around the world".

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