Bitcoin Halving Coming Around the Olympics

By | Mar 13, 2019

Bitcoin Halving Coming Around the Olympics

One concept I’m going to start researching more is the bitcoin halving or “halvening”, due in some 400 days.

I remember as a kid we had locusts every 17 years. I thought that was pretty cool; when they came back I wouldn’t be a little kid anymore.

Bitcoin halvings come on roughy the Olympics or World Cup soccer schedule: every four years.

From Wiki: “The number of bitcoins generated per block is set to decrease geometrically, with a 50% reduction every 210,000 blocks, or approximately four years.”

But consider the real difference between fiat and btc. Wiki: “In a centralized economy, currency is issued by a central bank at a rate supposed to match the growth of the amount of goods that are exchanged so that these goods can be traded with stable prices. In the United States, the Fed increases the monetary base by issuing currency, increasing the amount banks have on reserve or by a process called Quantitative Easing. In a fully decentralized monetary system, there is no central authority that regulates the monetary base. Instead, currency is created by the nodes of a peer-to-peer network. The Bitcoin generation algorithm defines, in advance, how currency will be created and at what rate.”

Bitcoin supply is limited. QE tests the limits of unlimited money printing.

2019-03-14T08:15:37-05:00March 13th, 2019|

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