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What is it halving? The pay per block and its impact on Bitcoin


As mentioned earlier, the hauling sees strong consequences for the entire ecosystem of the project. One of them is in their month-to-month growth before the reduction in & # 39; A half prevents and then falls, stabilizes and stays. After November 28, 2012, the next few months saw a distribution in memory from 29T to 18T, resulting in a 35% expiration in the hands of representatives. However, in the beginning of mid-July of that year, the height pot began to record a hefty altitude until the end of November when the halving began.

This pattern is continuous in two past editions (2012-2016) and is currently the & # 39; replace phase 1 (increase in & nbsp; handset)

Read Edit: They claim that the building of energy from Bitcoin mining is low to calculate

The increment of these values ​​before the reduction is indicated is a greater number of people holding up the & # 39; t the mining network. To pay off half the payout, fewer people will get less profit for the same amount they pay at & # 39; a short term is payable for BTC (in lieu of other months) in the event of a future decline.

Although this would be good for security and decentralization of the block hand, months after halving are usually accompanied by a drop in the mining participation. The potential reduction of miners can lead to an increased risk of a 51% attack if the hate rule is at a critical point. Although the cost and logistical process of making a 51% attack on Bitcoin is practically not business, it is always a plausible possibility in this kind of foundation.

On another side, the drip in & # 39; a few minutes after viewing blocks, a more efficient miners are getting the network left. At the moment the half comes up, the wages that the miners will get will be reduced by 50%, but the mining wall will appear for a short period. In this period, the boundaries will have to use the same element to get less bitcoins, drastically reducing the profit margins that they reduce as a group and affording the same cost over the production costs for the older equipment.

However, if an inefficient miners leave the network, the aggregate effect of the remaining miners is increased, which generates a side effect on Bitcoin pricing. The monetization of BTC by mining works as a series of economic cycles: in a sphere of traffic, the number of miners that they sold sold in order to sell their business costs (especially electrical costs) is lower than those they sold to hold.

In the bear market, the miners also have an important and ongoing sales force for each coin that works with Proof of Work (POW) Algorithm. Since the mining, a perfect competitive industry is always in search of a profit of zero queries, most of the tax per block has to be sold by fiat to cover the expenses. When & # 39; t start halfway, not only the tax per block is expected, but the maximum amount of BTC that can be sold is also "# ~", thus increasing the profit margins of & # 39; s miners it stays active as the non-efficient device leaves the network.

This pressure on sales is just higher in networks than complex as Bitcoin. Between January 2018 and September of the same year, the estimate income is achieved by the mining exercises at about 4.7 billion. Although it sells the real quantity of BTC according to the development of equilibrium costs in relation to current prices and the size of it miners over future prices. The maximum amount sold by miners will be reduced by half, resulting in a 50% discount on sales.

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