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Cryptocurrency Mining Reward Halving
Transcript of Cryptocurrency Mining Reward Halving
High transaction fees due to monumental moment
Inflationary coin - still marks the decrease of coin introduction
Cryptocurrencies with a PoW must control currency supply
Nov 28 2012
New currency introduced by solving puzzles
Halving refers to coin reward halving at set blocks
What are the consequences?
What stands out?
Even though Slush splits the reward + transaction fees...
Block 210000 was one step closer to Satoshi's ultimate goal for Bitcoin
Increase in USD value of BTC
Individual miners will stop mining or try to join a pool
Reward used to be random between parameters but became fixed 3/14
Has halved 7 times (1,000,000 to 10,000)
In the week before: mining hashrate and difficulty increased
Doge/BTC value increased
Increase in BTC value of DOGE then stabilize
Increase in difficulty
Decrease in BTC value of DOGE
Decrease in difficulty
Overall successful due to foresight
Overall decrease in mining due to complexity
Increased demand in cryptocurrencies that defaults to BTC