Ex-JPMorgan Trader Explains Why $440 Bitcoin Price is Too LowThere was a lunar eclipse, the second that year, and it was the first day since 1990 that the NYPD reported that no one was shot, stabbed or slashed in New York. There wasn’t much to report. And while journalists around the world searched for a scoop, one small story went uncovered – the reward for mining a block on the bitcoin blockchain had just halved.
Commencing in 9th January, 2009 when the bitcoin blockchain initiated, each and every one of the 209,999 blocks mined – created at a rate of approximately one every 10 minutes, in an uninterrupted 24/7 operation – had attracted a new, autonomous creation by the network itself of 50 new, never before seen, bitcoin.
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