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Bitcoin reached its After this, the rate at which Bitcoins are generated will be permanently be cut down by a factor of two. The halving will happen again. Bitcoin halves after every The next time will be when This will be in approximately 4 years, the time is predictable because the Bitcoin protocol is set up to aim for block generation every 10 minutes.
It would seem logical that the price doubles although this is not expected on short term. If the price were to double many people trading Bitcoins will see enormous profits. These profits will be turned into cash by many people which will have a dampening effect on the price.
I only expect to see a temporary rise after the block reward halving with price drops not too long after that. The price will rise in the long term but due to the high volatility this will be be a long and bumpy rise. The timing of the block reward halving is also close to a major new development in bitcoin mining, ASICs.
The first ASICs are predicted to ship in the beginning of and their announced hash rates start at 4. This costs a lot of money and besides the cost of the hardware, electricity cost is also an issue.
The most efficient graphics cards can do up to 2. The growth will be volatile however and with ASICs coming next year making current mining less profitable it is a good question what will bring for bitcoin. About Arras WordPress Theme. Cryptocurrencies All the information you need about cryptocurrencies. Bitcoin Block Reward Halved — December 5, Are you missing anything or would you like me to write an article about something?
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