The blockchain industry certainly looks like a blue ocean – there are a lot of possibilities, the wind changes fast, and the calm suddenly can be replaced by the storm. And, as in real sailing, to be successful it means to catch a wave and tailwind.
The past decade has been a buzz with presage about both Artificial Intelligence and Blockchain Technology. Both hold enormous potential for human society as it stands and has both taken a long time to produce fruitful products. Highly developed AI modules are already entering the real world in products such as spam filtration, AI-based chess engines, and even self-driving cars. The true genius of such inventions is that they can produce code independently to solve problems in real-time without any need for intervention from human beings. You could forget the e-wallet App on your phone, and it’d still keep making money for you.

Blockchain and digital assets are eventually changing how we earn interest nowadays. The mainstreams describe the social capital on how the interest rate allocates and take banks as the core information and credit intermediates. On the other hand, Traditional financial system has recognized challenges with high operational costs. The reign of low-interest rates has brought repulsive side effects to the real-world economy, especially to banks, who pay extra to store excessive reserves but are unable to pass on negative rates to depositors. Blockchain, hence cryptocurrency, where smart contracts hosted on blockchain, results in trading finance at a reduced cost. Permissionless financial instruments drive down 99% of barriers to create and issue bespoke tradable contracts for anyone to hedge, trade and earn.

The hype surrounding crypto trading might not be as robust as it was before. But for many, the interest in making bucks off crypto trading still holds strong, and with there being so many crypto platforms on which to buy and sell crypto on, it’s easy to see why.

Multi-Crypto Wallet is one of the platforms by Everus—an e-wallet for cryptocurrency available on iOS and Android that include the functions usually found on normal fiat e-wallets, but that also adds in a certain excelling component that revolves around making the user experience as worthy as possible.

One of these special components is an artificially intelligent bot called PSIGEN that has the capability to trade cryptocurrencies (such as Bitcoin, Ethereum, Litecoin and of course the Everus’ own EVR token) independently without the need for human input.

Targeted towards those seeking passive income in cryptocurrency, PSIGEN leads crypto trading without the need for human input and works within programmed parameters, guaranteeing that every trade is risk-free from losses. Everus also provides users with the option to start and stop trading at any time, and also withdraw their initial trading capital at any given time.

Thereby, the whole functioning of the system whirls around the concept of allowing inexperienced crypto users to trade their cryptocurrency and make a profit even without understanding the finer shades of crypto trading, thus providing them a great opportunity to start a stream of passive income without the need for much resources.

If you think about it, gold and bitcoin seem to share a lot of common characteristics. In fact, most crypto companies use gold to explain cryptocurrency in a simple easy way. Luno explained on “Bitcoin as digital gold” that alike gold, bitcoin is finite, exists in small or big units such as 1 satoshi or 1 Bitcoin and most importantly, the security it offers – managing funds, protection from threat, etc. But, bitcoin is so much more than that. Bitcoin takes gold’s benefits a step further, by being digital.

 
The Revolutionary Idea

What is “Bitcoin”? Bitcoin was the very first decentralized digital currency. The brains behind the operation is Satoshi Nakamoto who published his ideas online in 2009. The idea is to use a digital currency to perform financial transactions that is accepted worldwide with no involvement of authority. But, what makes it secure? All transactions are recorded in a digital ledger which is visible to everyone in the blockchain network. This was a billionaire idea. Unfortunately, back then, people refuse to see the bigger picture and to look at the Bitcoin value instead.

The value of Bitcoin is due to two reasons. Firstly, supply and demand. Bitcoin is finite as there are only 21 million bitcoin that can be mined in total. Currently, about 18 million bitcoin have been mined. This means that Bitcoin is low in supply, indirectly causing a high demand for Bitcoin. Another reason that many seem to believe is due to Bitcoin Halving.


The New Coin on The Block

This dates back to 2009 when Satoshi introduced bitcoin to the world. But, the world seems to hear about the news years later. In the meantime, a small group of people had the first Bitcoin experience and officially put Bitcoin on the map.

Mr Hanyecz from Florida bought two pizzas from Papa Johns with 10,000 bitcoin, making this the first real-world bitcoin transaction.
Mr Andresen from New England developed a website called the “Bitcoin Faucet” where he gave away 10,000 bitcoin.
Mr Forster from Massachusetts, on the other hand, started to accept bitcoin as payment for his farm selling alpaca socks.
 

The Age of Digital Coin

Bitcoin started to hit the streets around 2012 probably due to Bitcoin Halving. As you know, Bitcoin Halving occurs every 4 years  or every 210,000 blocks are mined. The reasons are unclear but it led people to believe that the value of Bitcoin would increase post-halving, as it did  two halvings ago. This seems to be great news now. But, what would happen when there is no longer Bitcoin left to mine? With only 2 million bitcoin left to be mine, 2140 would be the end of the road.

Various predictions have already been made about bitcoin’s value after the last mine. However, there is no way to know for sure especially with what has happened – hard forks, new protocols, new methods of recording and processing transactions, etc. There is a possibility that if cryptocurrency is accepted as the primary medium of exchange, demand would be out of the roof causing the transaction fees to increase, profiting miners. On the other hand, if the role of cryptocurrency remains the same in the economy, miners will require higher fees which means people would need to pay higher transaction fees, discouraging the use of bitcoin and calling the time of death for bitcoin.

In sum, regardless of growing demand, supply cannot be increased. Bitcoin miners will continue to collect transaction fees over time as bitcoin increases in value. “This value appreciation across time turns fee-centric mining into a financially infeasible task to a sensible, long-term investment.”

If you are an avid trader, surely, you must have heard of Bitcoin Halving or “The Halvening” which occurs around every 4 years. The rationale of Bitcoin Halving is to reduce the rewards for mining each block by half for every 210,000 blocks in order to slow down the injection of new supply to the network as time goes by. Some believe that this is Satoshi Nakomoto ‘s method to prevent inflation.

Bitcoin mining is more complex than it sounds. You require advanced and expensive equipment in order to compete to verify transactions through a process called “mining”. Transactions are then be verified in a group or “blocks” and the network is coded to halve the reward received by miners every 210,000 blocks. For every successful transaction, miners will be rewarded with Bitcoins which refers to “mining reward”.

So, what happens now?

2020 Bitcoin Halving
This year marks the 3rd Bitcoin Halving in history that officially took place earlier than expected – May 11.  But, what does that mean? Here’s the gist of what you should know:

1. Mining reward has been reduced to 6.25 bitcoin per block from 12.5 bitcoin per block.
2. The total amount of bitcoin mined is currently at 18 million, closer to the limit of 21 million.
3. Current bitcoin value is $8,926.75 as of May 13th.

This is where it gets interesting. Since there is a limited supply of bitcoin, prices are theoretically expected to rise if demand remains strong. Though the Law of Supply & Demand seems to be a perfect fit during most times, unfortunately, the truth is, the situation is different during all 3 bitcoin halving. But that shouldn’t be a surprise as Bitcoin is generally a wild card – you never know what exactly might happen.

Will history repeats itself?
The value of bitcoin before the 1st halving in 2012 was $2.01 while 2nd halving in 2016 was $664.44. Before the first halving, miners receive 50 coins and later reduced to 25 coins per block. Then, the second halving was shaved down to 12.5 BTC per block. A similar pattern that can be observed is the price surge after bitcoin halving even years after.

Speculations, speculations and more speculations
Every day, thousands of videos and articles are published about bitcoin’s price speculations. Some even think that they have cracked the code about bitcoin whereas some are convinced that bitcoin is a scam. The truth is, no one knows for sure.

Let’s rewind to a couple of decades back, specifically when “electronic mail” or email was introduced. Sure, everyone is reluctant at first. But look at the world now – Evolving with technology to equip ourselves better with current challenges. Hence, blockchain technology might be the next stepping stone that would revolutionize the digital era.