As expected, as the price goes up, the mainstream media are starting to pick up on Bitcoin and its affairs. In today's Reuters article, they discuss the upcoming halving, explaining to the "normal" people what it is and what effect (if any) it could have on the price. Of course they don't offer any solid prediction and advise being cautious, but I think the average reader will shift to the bullish side after reading it.
Bitcoin halving: When will it happen and what does it mean for the price?https://www.reuters.com/technology/what-is-bitcoins-halving-does-it-matter-2024-03-13/As bitcoin's price reaches new heights, attention is turning to its upcoming "halving" and whether it is playing a role in its ascent.
Depending on where you sit, the halving is a vital event that will burnish bitcoin's value as an increasingly scarce commodity, or nothing more than a technical change talked up by speculators to inflate its price.
But what exactly is it, and does it really matter?
WHAT IS IT?
The halving is a change in bitcoin's underlying blockchain technology, designed to reduce the rate at which new bitcoins are created.
Bitcoin was designed from its inception by its pseudonymous creator Satoshi Nakamoto to have a capped supply of 21 million tokens.
Nakamoto wrote the halving into bitcoin's code and it works by reducing the rate at which new bitcoin are released into circulation.
So far, about 19 million tokens have been released.
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