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| Bitcoin undergoes a third historical technical amendment since its inception |
Since its creation in 2009, Bitcoin has experienced the third historical technical adjustment, which is to reduce the new currency by reducing rewards for people using Bitcoin from 12.5 new bitcoins to 6.25 new bitcoins per will block. Creation speed has been halved.
Bitcoin relies on what is called a data mining computer, which checks the transaction block by competing every 10 minutes to solve math problems. The first person to solve the problem and clear the transaction will get a new Bitcoin.
"Now these two miners have little incentive to bitcoin mining. They can be converted into more profitable cryptocurrencies and therefore they will be under pressure in the short term," said Edward Moya, chief market analyst at OANDA in New York. . "
He added: "It is possible in the long run to see higher prices. All financial and monetary incentives have been brought into the global economy, and institutional traders have renewed their interest in finding modern governments to support monetary alternatives."
The currency has risen more than 20% since the beginning of the year, reaching $ 10,000 last week, the highest level in nearly three months. Traders said that the prospect of the mining industry receiving a half-price mining bonus has increased wealth this year. Income.
The currency has already experienced two excellent cuts that were given to miners, the first in November 2012, the second in July 2016, and the third in the current, but only when the currency saw its fourth decline in history in May 2024, so that the coin occurs almost every four years.
These two processes increased the value of the currency by about 10,000% from late 2012 to 2014 and about 2500% from mid-2016 to December 2017 (when the price peaked) when the price was almost 20,000 per bitcoin. Dollar sign.
He wrote down the process of reducing the origin of digital money (i.e., Satoshi Nakamoto) in half in the source code of digital money to control inflation. The return of the two minerals was reduced by half by 210,000 blocks to zero in 2140. This has so far limited the total number of units available to 21 million units.