New Bitcoin Halving And a General Description of How Halvings Have Been Processed, as well as Block Chain Rewards.

oscardavid79 (72)Authorised Userin Steem Alliance • 4 months ago

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"In this chapter I will explain what a Bitcoin halving and a general description of how halvings have been processed, as well as block chain rewards."

Hello crypto friends, be welcome to my new post about cryptocurrencies for all users and users in Steemit.

In this chapter I will explain what a Bitcoin halving is ?

To be brief with the explanation, Minimis will speak in depth of the blockchain

Summarized and easy to explain, in the Bitcoin blockchain, a block is filled with transaction information that people perform.

Once full, the miners are undermined; This happens approximately every 10 minutes; This time is always variable but around 10 minutes. And as of this post, we are in the 2020-2024 cycle, where for each mining block, 6.25 new bitcoins are created, and those 6.25 bitcoins that are created every 10 minutes, are assigned as reward for miners to generate that new Block, specifically the miner who managed to undermine.

I remind you that Bitcoin miners are people or organizations with great computational power that use these computers to verify Bitcoin transactions and thus create new blocks and obtain bitcoin as a reward.

Anyone can undermine this cryptocurrency. Then, understanding what was said above.

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What is a Bitcoin halving ?

Halving is a word in English that translated into Spanish means literally leaving halfway.

A Bitcoin halving is when the reward of the miners for each mining block is part of half.

Satoshi Nakamoto Crador del Bitcoin programmed in the system that this happened every 210,000 blocks; That if each block takes approximately 10 minutes to mining, it results in more or less "4 -year periods between each halving."

With the creation of Bitcoin in 2009 the development of the halving forms an integral part of its design.

A brief general description of how halvings have been processed, as well as block chain rewards.

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The genesis block, that is the first mining block ?

He undermined in January 2009 and his block reward at that time was 50 bitcoins.

Then, the first halving occurred in the mining block which number was 210,000 in November 2012.

The block reward at that time became 25 bitcoins.

The second halving occurred in the 420,000 mining block in July 2016; The block reward at that time became 12.5 bitcoins.

The third halving manifested in the 630,000 Mined Block in May 2020.

Its reward for each block issued at that time became 6.25 bitcoins and where the reward of the miners is 6.25 bitcoins.

But let's talk about some other halvings that are near ?

The following halving that will have to see is the fourth halving, which will happen when the 840,000 block is mining. It is estimated that this event will happen for 2024 bone this and very soon.

At that time the reward per block will become 3,125 bitcoins and thus the rewards will progressively be departed every 4 years or so.

For the year 2028, 96.88% of the 21 million bitcoins that will exist, will already be issued and in circulation.

Leaving a total of 656,250 bitcoins in the next 1228 years after the percentage will be the remaining 3.12% to have 100% in a few words counting since 2028 in the next 122 years later, Bitcoin would have an inflation of 3.23% .

Next, I will talk about the numbers with all the rewards until the last halving that will begin in 2136; And his Bitcoin trend is deflationary in 2140, for example, after the Halving of 2032, the mining block will not even be a bitcoin but 78 cents of Bitcoin another clear example is that in 2044 it will not even be 10 cents of Bitcoin the reward for the miners, but just over 9 cents per mining block.

conclusion.

Surprising is the case of the halving that will be in 2056 where a little more than a penny of Bitcoin will be paid for a mining block.

Resulting that a two bitcoins are not going to undermine a day.

Which is very likely that many of those in the world of cryptocurrencies will go with our own eyes.

The funny thing is that by 2060 a bitcoin is not going to undermine.

So on, the Bitcoins broadcast will decrease, ending in 2140 the last reward given to the miners to undermine blocks. Now, before finishing you have to ask what will happen when the year 2140 arrives with Bitcoin and there are no longer the halvings? Is the end of Bitcoin? probably.

✅ Vote @bangla.witness as lead witness please.