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Title: [2016-07-09] BITCOIN HALVING_ only 93 blocks Left! [Real time countdown] Post by: eye4bd on July 09, 2016, 01:09:56 AM WHAT IS BITCOIN HALVING?
In the Bitcoin network, user transactions are grouped in blocks and recorded to a digital public ledger called a blockchain. Miners are in charge of this task, and receive a mining reward in the form of bitcoins for each block recorded. The amount of bitcoins rewarded for each block decreases with time: it is halved every 4 years. This event, the moment when the mining reward is divided by 2, is commonly called "Bitcoin halving". Other denominations are used: "reward drop", "reward halving", or simply "the halving" or "the Halvening" which is a popular meme among bitcoiners. When Bitcoin was created in 2009, the initial reward was 50 bitcoins. In november 2012, it dropped to 25btc after the first .... http://www.thehalvening.com/#3 |