What is the purpose of Bitcoin Halving?

[Ridam 7455]

Bitcoin halving is defined in Bitcoin source code. And the main purpose of this is to half the amount of btc per blocks which definitely leads the scarcity of btc in the market or simply decrease the supply. So that the coin price gets affected positively.

[Jessica Karren 1242]

The main purpose of Bitcoin halving is to reduce the number of new bitcoins being generated by the network because the Bitcoin supply is finite. In this halving process the reward of mining new blocks is halved.

[Bohana 2143]

On 6/11/2020 at 7:47 PM, Jessica Karren said:

The main purpose of Bitcoin halving is to reduce the number of new bitcoins being generated by the network because the Bitcoin supply is finite. In this halving process the reward of mining new blocks is halved.

Thanks for sharing your answer. I should mention that with Bitcoin halving, the miners fees will become less and that means the fees will be lower.

[Alimhana930 1605]

The reason is due to raising its value in the first place and making it a confined currency in number. This increases the price. As for this brilliant idea, it came from the person who launched this currency and he had a complete view of this new financial system.

[Yomose 3704]

51 minutes ago, saraanna396 said:

Halving is the process of reducing the rate of creation of new digital currencies

The rate of redding the process of the rate of creation of new digital currencies? No. 

Halving makes bitcoin reward reduce, the process reduce the total supply of bitcoin to be halved in accordance to last reward collected. 

[sayems 1513]

As a beginner, as i can know, the exact propos of bitcoin halving, after every 210,000 blocks, bitcoin goes through a process called halving. This mechanism was integrated into the protocol goes through halving., it cuts the supply of new bitcoins in half,  halving the miner's block production rewards as well.  

[Ashsh 1446]

I didn't know that

There are many helpful ideas in the comments

It appears that we are coming to a lower price to prevent inflation

[Alex9876r 1408]

In my opinion, the immediate goal is to continue to raise the price of bitcoin during each specific time period In addition to that, he made it a limited thing, not widely available and accessible to everyone On the contrary, it is rare and everything scarce is valuable.

[Sarahden111 1231]

In a simple way, he made its price rise more, in addition to making it difficult to obtain it, and ultimately to achieve the goal of producing its full and limited number, which is 21 million Bitcoins.

[yonkii 3205]

I know that the Bitcoin halving happens every four years and that this means that miners earn only half after that, but I would love to know more about this event. Maybe there are more technical Bitcoin articles on the section about Bitcoin and some good members have given us a solid explanation.

[khaler 1549]

On 3/14/2020 at 6:01 PM, Bohana said:

Hello guys. What is the exact purpose of Bitcoin Halving? And why does it happen? What are the benefits of it?

To prevent the process of inflation resulting from increased mining, this helps to keep the currency rate constant to some extent and it is a good thing now
My friend's note, this is a beginner's section. I don't think your post is in the right place.

[RingOfSaturn 34]

The entire power of the Bitcoin network, like a number of other cryptocurrencies, depends on the miners supported by it, that is, those people whose "computers" are busy solving mathematical problems for extracting a new cryptocurrency - in our case, Bitcoin.
Each miner receives a fixed fee for solving one problem - generating a new block in a block chain (blockchain). Halving Bitcoin is just the process of reducing the reward for one such generated block by exactly 2 times.

Each such action takes place every 4 years.

The list of Bitcoin halvings is as follows:

November 28, 2012 - from 50 to 25 BTC per unit
July 9, 2016 - from 25 to 12.5 BTC per unit
May 24, 2020 - from 12.5 to 6.25 BTC per unit

[Rosarvx 965]

we saw the biggest price of bitcoin ever when he reached 20k dollars in that year, but I think that the half is the drop in currency prices to half of their price

[DMvik 53]

On 14.03.2020 at 19:01, Bohana said:

Hello guys. What is the exact purpose of Bitcoin Halving? And why does it happen? What are the benefits of it?

Bitcoin halving is probably the most anticipated event. It determines the stability of the cryptocurrency rate and, together with it, the belief in the future.

[Bulver 100]

Well, firstly, the decrease is not the bitcoins themselves, but their production is halved. Halving is done in order to control the emission of cryptocurrency and curb its inflation, and the rate does not stand still and begins to grow.

[TimopheyKa 3900]

Reducing the supply of bitcoins can have many consequences not only for the cryptocurrency, but also for the global economy.

We all know that "Satoshi Nakamoto" made bitcoin because he was upset with the work of Central banks, which print money all the time to stimulate the economy and ultimately take away the wealth of ordinary people.

If the bitcoin experiment had continued for another 10 years, we would have seen two more halvings after 2020 by then, and we believe that most of the Fiat money will have moved to bitcoin by then.

And this will eventually either destroy the centralized banking system, or at least contain them and their inflationary policies, which will ultimately lead to a more just world.

[Shnaps 36]

If we want a good price of BTC in the future, than we need to reduce emission. That is a crucial step needed to boost the price of bitcoin.  

[Clargee 35]

Is number of coins that miners received for adding new transaction to the block chain being cut in half.

[Gherkj34k 55]

This is necessary to reduce the payment to miners for solving a complex problem and adding another portion of blocks. The payout is halved when the blockchain receives a certain portion of new blocks

[jfcrypto7 131]

The purpose of Bitcoin halving is to make the coin more scarce, since there is a fixated amount of Bitcoins available and you are just stopping more of it to go into the market, the law of supply and demand will tell you that the price should go up, its just a form to make the market value higher by decreasing the amount of coins that are circulating at the moment.

[Non 40]

I believe that Bitcoin does not burn as much of it as other currencies, but rather controls supply and demand in a half way to reduce inflation

[elkaram 19]

Good info and thank you for that

[Diego Alfredo Moral 28]

On 3/14/2020 at 1:08 PM, magd said:

Hello my friend, I suspect that the goal of the half is to compensate for lost bitcoin currency and prevent monetary inflation as well, meaning that a count is made of the traded quantities and compensation for lost due to some mining operations and thus control inflation

Good morning friends. What I read is that the pay to miners is cut in half.

[wassim19 645]

The halving happens to Bitcoin every 4 years, as it is divided in half, and the difficulty of mining is doubled, and the price may rise after that to large numbers, like what happens after each halving

[komtak 584]

bitcoin halvings are vital events for traders due to the fact they reduce the wide variety of recent bitcoins being generated with the aid of the network. this limits the deliver of recent coins, so charges should upward thrust if call for remains strong.