Infographic Bitcoin Halving what does it mean

War monument Ivalo Finland
War monument Ivalo Finland

Bitcoin halving is expected to take place around May 12th, 2020, A bitcoin halving is an event when miners receive 50% fewer bitcoins for verifying transactions. Bitcoin halvings are scheduled to occur once every 210,000 blocks until the maximum supply of 21 million bitcoins has been generated by the network.

Bitcoin began circulating in 2009 as an electronic currency operating outside the traditional banking system. Bitcoin’s value has ranged from a fraction of a dollar to nearly $20,000 in its short life.

With the Bitcoin halvings, the number of new bitcoins are being reduced on the network, with demand for bitcoins still strong the expectation is that the bitcoin price will rise.

As halving will affect the small Bitcoin miners more than big business miners, there are alternatives for the computer server that been used by small miners. Computer servers specifically use for Bitcoin mining generate excess heat, for all that hot air generated, it can be used to heat a small house by powering radiators.

Using LED lights and hydroponic technology, which replaces soil with water, you can set up a mini-farm in your office or basement, growing various vegetables.

You can heat up 100 square meters with 10 mining server … if you sustain them with solar power or wind power you’ll get free heat and free vegetables, you may still continue mining.

 To get an overview of what is Bitcoin Halving, check out the following infographic developed by Abishai James at WinBTC.net.

Bitcoin-Halving-in-just-5-minutes

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