Bitcoin Halving 2024 Countdown
Here's a countdown clock to another one of Bitcoin's historical events --- the Bitcoin Halving 2024. Stay tuned!
What is Bitcoin Halving?
Bitcoin Halving is a built-in mechanism embedded in Bitcoin’s blockchain protocol.
Essentially, this halving protocol is designed to control the supply of Bitcoin by reducing the rate at which new coins are minted, therefore lowering the available amount of new supply.
In simpler terms, Bitcoin Halving is the event when the number of new Bitcoins generated with each block of transactions is reduced by half.
That being said, this finite and diminishing minting of Bitcoin creates a fixed monetary supply that resists inflation.
This is different from fiat currency, where governments can theoretically print an infinite number of bills by a central bank.
When did the last Bitcoin Halvings happen?
- November 28, 2012: reduced to 25 Bitcoins minted for each block.
- July 9, 2016: reduced to 12.5 Bitcoins minted for each block.
- May 11, 2020: reduced to 6.25 Bitcoins minted for each block.
The next bitcoin halving is expected to occur in eary-to-mid 2024, where it will once again reduce the mining reward to 3.125 Bitcoins per block.
Learn even more: Bitcoin Halving deep dive and why it matters!
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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated January 22, 2024
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