Bitcoin Halving

As a good chunk of the bitcoin community is very aware, the bitcoin mining reward will be getting halved very soon, and this could mean a few different things

When

About 31 days from now (check http://www.bitcoinblockhalf.com/) the bitcoin mining reward will be halved from 25 to 12.5 bitcoin (this occurs 210,000) for each solved block, this means that the supply will lower significantly for bitcoin world wide.

What does it mean

This means things to different people. For an opportunist, I think quite a few people will buy a few BTC now, and dump after the halving because a lot of people are speculating that the price will rise because of simple supply and demand.

For miners, they will probably be making approximately the same (in USD or CAD) as they used to, however the actual amount they receive in bitcoin will be half of what they received previously.

If the price remains constant, and does not rise, that could mean the majority of miners shutting down however which could be very bad. This seems to be more of a fringe case though, it's more likely that the price rises and some people can take this opportunity to make a few bucks.

Comments

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