BitCoin SV Halving
What is the halving?
Every four years, just like every other religion, BitCoin has a special celebrated event. It’s called the halving, or the halvening as some devotees have come to affectionately call it.
The event is important because it celebrates the singular distinction between BitCoin and dirty fiat currency, that is, BitCoin gets scarcer over time, whereas your filthy fiat govt issued monopoly money eventually becomes worth about as much as toilet paper.
Whenever the BitCoin price is down, followers of the BitCoin religion remind each other of when the next halvening is, pointing to it as a promise of future reward if the investor would just “hodl” their BitCoins until the next supply reduction.
The rationale is that eventually, there’ll be no new BitCoins, so if we all just hodl on until 2140, the world will eventually admit we weren’t crazy nerds with worthless magical internet money, and a new golden age of prosperity, peace, and Lamborghinis for all will be ushered in.
Remember friend, the next halving will surely be the catalyst for an upcoming price pump. Just keep checking the date, remind your followers on Twitter, donate BSV to this website, and pray to Satoshi that you will find the strength to still be investing in BitCoin when the next halvening occurs.
What is the halving actually?
Every time a new block is created on BitCoin, the winning miner receives a “block reward”. The block reward is a combination of the transaction fees included in that block, and a “block subsidy”.
After every 210,000 blocks, the block subsidy halves.
In 2020, at block number 630,000 the BitCoin SV block subsidy will halve from 12.5 BSV to 6.25 BSV.
The block subsidy will continue to halve approximately every 4 years, until around the year 2140, when the block subsidy will drop to nothing, and the block reward will consist only of transaction fees.
The effect of this block subsidy halving is that the total number of BitCoins that will ever be created will be just shy of 21 million.