Bitcoin Halving 2020 [1,000% GAINS] - Transcripts
Bitcoin Halving in 2020 explained in detail. Every 4 years approximately the reward for miners verifying a bitcoin block is cut in half. The Bitcoin halving was designed to keep inflation under control.
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Welcome back to the channel everybody my name is already with coin caso and in this episode we're going to talk about what everybody's talking about right now the upcoming Bitcoin having in May 2020 Bitcoin is going to go through another having what does this mean? We're going to go over what the having means, what goes on during this process and how it affects the price of Bitcoin. So in this video you're going to get all of the answers you're looking for and our analysis on the future of Bitcoin price. When Bitcoin was created, a new system was put into place to generate new Bitcoins. This process is known as mining. Now if you don't know what mining is, please watch our other video on Bitcoin mining but basically the Bitcoin Blockchain groups, all transactions within a 10 minute timeframe sends this block out to the miners to verify these transactions using computational algorithms. Once verified the minor that solved that equation gets a reward. When Bitcoin was first created, the reward was 50 Bitcoins per block. The Bitcoin Blockchain actually has a protocol built into it so that every 210,000 blocks approximately every four years, the reward gets cut in half. That's why it's called having the first, having happened in 2012 When the reward was reduced from 50 bitcoins to 25 bitcoins then again in 2016 which made it 12.5. Bitcoins which is the current reward. This will go on every four years until the year 2140 when there will be no more bitcoins created and all 21 million bitcoins will be in circulation.
Now, why is this important? This protocol was put into place to help prevent inflation. For example all fiat currencies like pounds, dollars, yen and euro are printed in central banks and over time they print more and more and more, causing more to be in circulation, causing the value of that currency to actually decrease. That's what we call inflation. Bitcoin however, has a finite amount. There can only be 21 million Bitcoins in circulation. Total solving the problem of inflation and actually increasing the value of Bitcoin over time. Now let's get into how this will affect the price of Bitcoin when the first having happened on november 28th 2012, Bitcoin was actually $12 per Bitcoin. And then four months later it jumped up to $180 per Bitcoin. When the second having occurred. It was at $650 and then at its peak in 2017 it was over $20,000. Now no one really knows for certain how this will affect the price of Bitcoin because if you look at the charts right after the having is happened, nothing changed.
It didn't move at all. It wasn't until a few months later that we started to see these exponential growth spikes. Now the next halving is set for May 14th 2000 and 20. There's a lot of speculation on the Internet and other Youtube channels. In my opinion, we're going to see some nice growth due to all the publicity and hype over the Bitcoin halving. So from now until May we should see some really nice gains. But I think when having happens, Not much is going to change in the price, but over the next 4-6 months we should see another rally towards that $10,000 mark and maybe even beyond. I hope you guys enjoyed this video. I hope you got some knowledge out of it. Thanks for joining me today. Guys. Don't forget to like the Facebook page.
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