What is the purpose of Bitcoin Halving?

[juan vallez 185]

On 3/14/2020 at 10:01 AM, Bohana said:

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

I believe that the purpose for the halving to occur is that the number of new bitcoins circulating is gradually unlocked less and less and that the price of bitcoin is not affected too much by having a large amount of bitcoins in circulation and the price falls drastically and another reason may be for the growth of existing bitcoin to be slowed down to make it more stable

[nishad1234 20]

On 3/14/2020 at 10:01 PM, Bohana said:

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

A Bitcoin halving event is when the reward for mining Bitcoin transactions is cut in half. This event also cuts in half Bitcoin's inflation rate and the rate at which new Bitcoins enter circulation.

[Onden 2098]

The purpose of the halving is to control bidding. Regarding demand, if the coins circulate too fast, according to basic economic theory there will be a circulating surplus and will cause the coin value to fall. For this reason, half of it is done to keep the coin price up, as the number of half is capped every 4 years.

[Isabel2310 54]

Halving is an automated process of halving the bitcoin that miners receive as a reward for creating a block.

 

It was created to incentivize mining through proof of work. This for the establishment with every certain number of blocks, the emission must be reduced to half.

 

the first cryptocurrency to implement this process was bitcoin.

All this because the amount of bitcoins that may come into existence software at 21  million bitcoin. Not one more.

Bitcoin software states that bitcoins will be released to reward miners as they create blocks by validating transactions, at a rate of every 10 minutes on average

 

[salah85 38]

Halving is the process of reducing the rate at which new digital currencies are created. Specifically, the word halving refers to the events of reducing the block mining rewards provided to miners.
In other words, reducing the block mining rewards provided to Bitcoin miners

[Ryken8 545]

By halving the mining quantity of bitcoin every 4 years, it reduces the circulating supply of bitcoin against the ever growing demand for it thereby raising its market value. It is also good to note that there is a 21M cap to mine bitcoin, we are now at 18.5M hence there are only 2.5M bitcoins left to mine.

Edited October 23, 2020 by Ryken8

[Nicole018 4548]

In order to maintain the value of Bitcoins, Bitcoin halving is done. This way the value or price of Bitcoins will stay fixid at a particular price without causing any inflation in its value. There is estimated to be 21 million Bitcoins worldwide. And in the coming future also this volume is required to be maintained. If due to mining volume exceeds the limit Bitcoin halving will be done to bring it back to its original volume.

[fuck123 184]

We are all aware that the market for Bitcoin is currently in the Corona Corona situation. At the moment the price of bitcoins is so low that many people don't hold them and many people can't add one. 

[Mathiasdgreat 121]

The main purpose of bitcoin halving is to control inflation. Halving was written into bitcoin code by its creator known as Satoshi Nakamato, to control infalation by increasing scarcity and this happens every four years. It is believed by the supporters of cryptocurrency that the scarcity caused by halving is part of what underpins its value and makes it a potential safe haven against currencies that are vulnerable to devaluation during time of economic crisis.

[velasco19 1753]

The Halving can be said to be the cut in the production of new cryptocurrencies destined for the mining community, where the profit for the miners is increasingly reduced. The halving happens every 210,000 blocks on the Bitcoin chain and it also has deflationary properties.

[Russel 017 506]

Bitcoin halving cuts down the supplies of bitcoin. In 2016 when we see the last halving,after 6 months of halving the price of bitcoin reached at the highest point ever.

[Mark wood 2970]

On 3/14/2020 at 9:08 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

I have the same question but no one help me out for that but today I got it from you so you deserve heart because many members work hard here and help beginner in this forum so you are one of them who help members who need help..

[GM266 673]

Bitcoin halving is a process where the rewards for mining is divided into half and the pumping of price is increased for better mining. Third halving has been place in 2020 for bitcoins. After the halving the mining rewards has been split in half. It was about 12.5 btc before the halving. The price is also pumping after the halving. It's the process to make the market stable for Bitcoins actually. 

[Arpit Gupta 581]

Bitcoin halving is an event that happens in every 4 year to reduce the supply of bitcoin and mining rate decrease significantly. 

[Dorjoy12 8962]

16 hours ago, Mark wood said:

I have the same question but no one help me out for that but today I got it from you so you deserve heart because many members work hard here and help beginner in this forum so you are one of them who help members who need help..

@Mark wood btc halving activity same as btc mining that happen every 4 years...  There has block in btc mining around 210000 and for each 10 block you need time   to mining around 6.6 minute.. So now calculated the time and you can see that to Mining 210000 block you will need almost 4 years.. And btc halving occurred     for reduce the btc supply as far as i know..   

[Mark wood 2970]

1 minute ago, Dorjoy12 said:

@Mark wood btc halving activity same as btc mining that happen every 4 years...  There has block in btc mining around 210000 and for each 10 block you need time   to mining around 6.6 minute.. So now calculated the time and you can see that to Mining 210000 block you will need almost 4 years.. And btc halving occurred     for reduce the btc supply as far as i know..   

@Dorjoy12 thanks dear you are so active about giving reply to anyone here we need more members like you, and hope you will be successful one day because you help all the members here I really appreciate you , keep it up..

[Dorjoy12 8962]

3 minutes ago, Mark wood said:

@Dorjoy12 thanks dear you are so active about giving reply to anyone here we need more members like you, and hope you will be successful one day because you help all the members here I really appreciate you , keep it up..

@Mark wood i am trying my best to help each other in this forum.. Also for better explain and Details you should search in online About the btc halving.. Because it will help you to know more information.. We should not stay in this forum only to gain knowledge..  As a beginners we should learn more than comments..            

[smithk 149]

• Bitcoin last halved on May 11, 2020.
• A Bitcoin halving event is when the reward for mining Bitcoin transactions is cut by half.
• Halving also cuts into half Bitcoin's inflation rate and the rate at which new Bitcoins enter circulation.
• Below is the chronology of the past Bitcoin halving events.
• The first halving event occurred on the 28th of November, 2012 (UTC) at block height 210,000
• The second halving event occurred on the 9th of July, 2016 (UTC) at block height 420,000
• The third halving event occurred on the 11th of May, 2020 (UTC) at block height 630,000

I hope this helps.

[Honny143 13612]

22 hours ago, Arpit Gupta said:

Bitcoin halving is an event that happens in every 4 year to reduce the supply of bitcoin and mining rate decrease significantly. 

@Arpit Gupta  yes bitcoin halving event happens every 4 years, because of not only bitcoin supply reduced, but their is a purpose to maintain bitcoin value high in crypto market,because when supply reduce then significantly Price increase, and we see this price increaseing every year. 

[decemberends 1881]

These prevents the inflation of the economy and it also helps balancing the marketing value and while at it gives a opportunity to many others who are new to the community but although is happens once sometimes in a year or more so.

[Artugul78 91]

Bitcoin is a digital coin.. Bitcoin halving occurs every four years.. It start in 2016....Principally bitcoin demand depend on the supply...      

[Hina Akram 91]

Bitcoin halving is an aim to reduce the total amount of its yearly production , so its minor users can get some benefit form it.

 

Bitcoin halving is an aim to reduce the total amount of its yearly production , so its minor users can get some benefit form it.

 

Bitcoin halving is an aim to reduce the total amount of its yearly production , so its minor users can get some benefit form it.

 

Bitcoin halving is an aim to reduce the total amount of its yearly production , so its minor users can get some benefit form it.

 

When the demand of bitcoin increases the price of bitcoin will decreases.

 

[Honny143 13612]

7 hours ago, Mosharraf said:

@Honny143,,,Bitcoin's halving occurs every four years.  Bitcoin halving reduces the price of bitcoin, and halving pumps out the price of bitcoin after a while.  Bitcoin's mainly depends on demand and supply.  As the supply of Bitcoin decreases, so does the price.  So I’m looking forward to seeing Bitcoin Halving.

Its true @Mosharraf bitcoin halfing conduct because of bitcoin supply decreased and price increase,  every bitcoin halfing after bitcoin price increased significantly,

now we are  seeing this clearly now bitcoin price 13000$ dollars, maybe soon even increase more..

[Gorge 510]

A Bitcoin halving is an event where the reward for mining nee blocks us halved meaning miners receive 50% fewer Bitcoins for verifying transaction.

Bitcoin halving s are an important events for traders because they reduce the number of new Bitcoins being generated by the work .

Bitcoin halving has so far happened every four years since the cryptocurrency came  about in 2009.

 

[GalaxyGuard 352]

This is just a form of making the market value of the currency higher by reducing the amount of the coins currency in circulation This is the The purpose of halving Bitcoin since there is a fixed amount of currencies available.