Why Should Bitcoin Halving Happen?

[Suba]

Bitcoin halving is a special moment that occurs every 4 years when miners' reward receipts are halved. In the beginning in 2009 the miners received a reward of 50 BTC, then in 2012 the miners received 25 BTC, until it is estimated that Bitcoin will occur in April 2024, the miners will only receive a reward of 3.25 BTC and likewise in 2028 it will be cut in half.

 

[Mike30]

Answering the question. Is not that "Why" it should happen. It "Will" happen because it was meant and designed to happen that way(around every 4 years)
Note: It is not based by date, it's based on every X number of blocks processed, which is around every 4 years.

 

[riberet19]

The halving should happen because it is a network adjustment to miner rewards and to make the network more secure as time goes on and its hashrate grows.

 

[Heatman]

The halving should happen because it is a network adjustment to miner rewards and to make the network more secure as time goes on and its hashrate grows.

If you remember, we all had our analysis on Bizdustry that BTC will come to the zone it is right now. As for halving, it's definitely going to happen soon.

 

[riberet19]

If you remember, we all had our analysis on Bizdustry that BTC will come to the zone it is right now. As for halving, it's definitely going to happen soon.

Yes, if I remember correctly we said that it would reach close to 50k, I hope that after the approval of the ETFs and the halving it will reach at least 80k it would be fascinating to see that, some make much higher price predictions, but for me that is a figure which is "relatively easy" to reach.

 

[Mike30]

Yes, if I remember correctly we said that it would reach close to 50k, I hope that after the approval of the ETFs and the halving it will reach at least 80k it would be fascinating to see that, some make much higher price predictions, but for me that is a figure which is "relatively easy" to reach.

Just a hint. Since I follow some Spanish news, the new president of Argentia (Milei) Is commited to revolutionize Argentina's economy.
He is already dealing with the presindet of el Salvador and I have no doubt that Argentina soon will be the next country to accept Bitcoin as a legal tender. Keep an eye on those news.

 

[riberet19]

Just a hint. Since I follow some Spanish news, the new president of Argentia (Milei) Is commited to revolutionize Argentina's economy.
He is already dealing with the presindet of el Salvador and I have no doubt that Argentina soon will be the next country to accept Bitcoin as a legal tender. Keep an eye on those news.

Yes, I know that Milei is a Probitcoin person, since he is also an economist, but what Milei mainly wants to do is dollarize the Argentine economy, then we will see if he also integrates Bitcoin in some way into his economy as well.

 

[Mike30]

Yes, I know that Milei is a Probitcoin person, since he is also an economist, but what Milei mainly wants to do is dollarize the Argentine economy, then we will see if he also integrates Bitcoin in some way into his economy as well.

He will do basically anything to improve the economy. I am not clear about a news related to negotiations to honor bitcoin contracts with el Salvador or something like that. I just read quickly the other day but I can't recall clearly.

 

[Suba]

Answering the question. Is not that "Why" it should happen. It "Will" happen because it was meant and designed to happen that way(around every 4 years)
Note: It is not based by date, it's based on every X number of blocks processed, which is around every 4 years.

True, actually Bitcoin halving occurs when 210 k blocks have been mined or it takes around 3.8 years, but we can easily call it 4 years, also to regulate Bitcoin supply.

 

[Kross]

But what we saw with Litecoin is that it's value plummeted so much after halving. Almost 6 months later, litecoin is struggling to reach where it previously was before the halving.

 

[Mike30]

But what we saw with Litecoin is that it's value plummeted so much after halving. Almost 6 months later, litecoin is struggling to reach where it previously was before the halving.

When Bitcoin becomes extremely expensive for the regular guy, Litecoin will kick in. Wait and see...

 

[Kross]

That means we would have to wait for Bitcoin to hit $80,000 before we see the gains of the Litecoin halving? I just think it would not happen. That's because no matter how expensive bitcoin would be, people have more trust on it than any other crypto and would prefer to hold it b

 

[Mike30]

@Kross Every investor/user has their own and different motivations and views.
Personally I don't look at the "halvings" as the main factor for a crypto to rise in price. That is a minuscule variable for me.
What's in the Media, is Bitcoin. And most of the attention goes towards it. I like to look and go where the majority is not looking.
I already had experiences with Likecoin that tells me to keep them.

About more "trust'? Well it depends what trust we are talking, I trust Litecoin as much as Bitcoin (they are the same software with just different parameters) Maybe if you are referring trust as what people believe about price movements, then it all depends on on what the media decide to talk about.
In all aspects, as a crypto user, I rather to use Litecoin over Bitcoin.
As an investor, the "possible profits" percentage of margin per dollar invested with Litecoin, you have a very slim change to get it with Bitcoin.

It's all about investor's perspective...
Nobody is wrong or right!