Bitcoin Halving 2020: History & Price Prediction (A Simple Explanation)
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- เผยแพร่เมื่อ 9 มิ.ย. 2024
- This is a simple explanation of the bitcoin halving event that will happen in May of 2020.
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======== TABLE OF CONTENTS ========
00:00 - Introduction
Three Important Concepts to Know About the Bitcoin Network:
00:39 - Bitcoin Blockchain
02:13 - Bitcoin Mining
04:15 - Bitcoin Supply
The Bitcoin Halving Event in May 2020 Explained:
05:41 - What is Halving?
07:37 - Why does Halving Occur?
08:47 - What Implications Halving has for Future of Bitcoin?
======== VIDEO SUMMARY ========
In this video we will be talking about the bitcoin halving, or "halvening," event that will take place in May 2020.
We go over what halving is, why halving takes place, and what implications halving has for the future of bitcoin.
First, there are three key concepts about the bitcoin network you need to know that will make bitcoin halving easier to understand.
The concepts are the bitcoin blockchain, bitcoin mining, and the bitcoin supply.
The bitcoin blockchain is basically a live, running record of all the bitcoin transactions.
Once a certain amount of transaction data has been collected, a block is formed and added to the ledger.
So, blockchain is simply groups of transaction data that are linked together.
The basic structure of the bitcoin blockchain consists of a network of computers around the world with bitcoin software installed on them.
The verification and posting of transactions on the blockchain is completed by miners via a process called mining.
The basic concept you need to know about bitcoin mining to better understand the bitcoin halving event, is that miners are rewarded with bitcoin each time they verify a new block of transactions.
Mining rewards are a combination of newly minted bitcoin units that were not previously circulating, and transaction fees of bitcoin that were already circulating.
These rewards are in place to incentivize miners to participate in the mining process to ensure the bitcoin network continues to be audited and essentially maintained.
Next, bitcoin was programmed with a maximum supply of 21 million BTC.
This 21 million unit maximum was established to mimic the stable inflation rate of the precious metal gold.
Halving, in terms of bitcoin, refers to the reduction in bitcoin block rewards issued to miners by half.
Currently, the block reward is for miners is 12.5 BTC of newly minted bitcoin that were not previously in circulation.
When the halving occurs in May 2020, the block reward will halve, or reduce by half, which will give miners 6.25 BTC of newly minted bitcoin per validated block.
Historically, the 12 to 18 months immediately following a halving event, bitcoin pricing didn’t show much movement.
Even then, as with previous halvings averaging 12 to 18 months before noticeable changes, the bottom line is this:
There is a lot of room for opposing theories, opinions, and predictions about the future of bitcoin’s pricing with regard to the halving in May 2020 and the years following.
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I can’t thank you enough for - 1)having a clean, calm video format with great acoustics 2)not mumbling 3)not screaming 4)not interjecting, “uh, uh, uhm, uh” 800 times per minute, and finally 5)creating a video that was the length needed, without 15 minutes of special effects and other nonsense added in for absolutely no reason.
You just described one of friends channels. Haha
The crypto market is like a roller coaster, what goes up comes down only to go back up again. many investments are the same way but i love to give the responsibility to an expert sec licensed broker, rather than make the losses the expert made while he/she was still a beginner or make mistakes myself as a beginner. A broker with the potential of generating constant positive returns of both rising and falling markets. I have made over $63k this past week amidst the BEAR and ready to dabble for more.
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Agreed
Yes, I thought the same thing!
@Craig anderton Nice to be a newbie.
@Craig anderton isn't that who this channel is geared towards?
This is the best video about Bitcoin halving I've come across! Its short and very easy to understand. Awesome work Casey! Keep posting more like these. I've subscribed. 👍
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Thanks for the feedback. More in the works!
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One of the best videos I've seen on youtube.
Solid performance.
Thanks a million for the info
Thanks for the video, clear, to the point, well presented and well spoken. Cheers from AUS.
When people ask me what a blockchain is i simply answer: it's a new way of recording data. Great info. thank you
Thank you so much! You are so good at explaining this topic. I just liked and subscribed to your channel. So excited to watch more of your videos.
You explain this subject better than anyone I have found so far, thank you so much!
This is my first ever comment in TH-cam. To me, this has been the most sensible take on the halving event. Everything other video i have watched seems to have a vested interest in building up the hype. Great job Casey. Best wishes for more such contributions.
Michael Daniel Buy and hold
I couldn't agree more, she is simply the best. I wondered why others can't just be as objective and neutral
looks like the increase started within 6 months of 2016 and kept going until 2017 according to the graph.Thankyou for all the great info!
Best BTC explanation video I've seen so far. And I've seen quite a few. Thanks Casey.
Brilliant video ! Lots of good info presented in easy to comprehend way. Thank you CryptoCasey👏
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I'm just a comment in the dust, but you got me started about a year ago. Love your vids, keep doing you!
Thanks for the feedback! Glad to help
Thank you.
Thorough, clear and concise.
Thank you Casey!!! I learn a lot from yours videos. We need more channels like yours!!!!
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This is the first time I've watched one of your videos and I can see that you've got a high standard for your content. I love your communication style.
Thank you for the time and work that you put on your videos.
Janko Giordano Thanks for watching!
That was one hell of a presentation..now understood something about Cryptocurrency and Bitcoin in particular! 😄 Can't thank you enough!!
This is a really good video, which explains everything clearly without bias. And you're a good speaker too.
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He explains just like Anderson Jade.
Finally 🙏🏼🙏🏼🙏🏼 so glad o found your channel!
Thank you Casey, very clear. The only prediction is that the price may go down (even though you chose an animation of numbers going up when you say that) right after the halving and that it just did happen to fall. Maybe now it'll get bullish earlier than thought? What are you doing with your coins right now? Thanks
Absolutely brilliant. You explain things so concisely and clearly.
You have one of the best bitcoin TH-cam channels. This is very informative. Thank you.
Fantastic commentary and educational content. Well organized and well articulated. I love that you take a sober and measured approach to Bitcoin, Crypto, and especially the halving event. I look forward to watching all your other content.
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Great video 👍
Like before.
I went into Bitcoins because of Casey's videos.
Always happy to see a quality production!
I just watched this video, you are very capable and it is good to see you talk. Thanks
Thanks again Casey for your simple, no nonsense explanations of cryptocurrencies and bitcoin in specific. I watch a few others who are into hype, promotions and having an 'attitude' about cryptos. This is what makes your no hype approach to refreshing and grounded. I've watched many of your other videos and they all make great sense and are very educational.
Great format, just the information I was looking for!
Bitcoin Halving Simplified by Casey! Thank you! Im subscribed!!! 😃👍
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Nice and educating, you also need to learn the best way to amass cryptocurrency during this halving year known a to be the boom profit season in crypto
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This is information.
The others are hype-generators.
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Goodluck this cycle.
Appreciated ❤😘
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Damn, she made it sound so simple
Probably the simplest and cleanest rational explanation out there. Thank you!
The stock/cryptocurrency market is like a roller coaster, what goes up comes down only to go back up again. many investments are the same way but i love to give the responsibility to an expert sec licensed broker, rather than make the losses the expert made while he/she was still a beginner or make mistakes myself as a beginner. A broker with the potential of generating constant positive returns of both rising and falling markets. I have made over $63k this past week amidst the BEAR and ready to dabble for more.
Thank you for the clear and concise explanations.
Thank you for stating these facts with such calm clarity that even a fool like me can understand them. This is the second video of yours I have watched and saved and you are now my first port of call when it comes to crypto currency. I find the music entrancing too. It supports your narative without distracting, and has your calmness without being bland. In short, yours is a perfectly focused production. Thanks once again :-)
Nice vid, great production, you must be a bitcoin millionaire to afford this kind of production! 😎 new sub
Hey Crypto Casey. Thank you for this video. This is one of the best videos I’ve seen explaining Bitcoin and the Bitcoin Halving. If it’s okay with you I will share this video on my Facebook page, and I will also subscribe to your channel.
Thanks for the feedback! Of course, feel free to share the video wherever you’d like.
Very informative and helpful as always. Thank you.
U just earned a new subscriber ♥️
Casey I think I'm hearing you use a form of the word "titration" at 8:37. It is a term more commonly employed in the fields of chemistry and medicine. With bitcoin its use strikes me as innovative. Did I hear you correctly?
I did indeed use the word "titration" to describe the slow, steady addition of new bitcoin into circulation.
I belive in new ATH. Think about stock to flow model or Metcalfe's law. We will see in 2021. Great video.
This video was bloody awesome! You know your stuff. I learnt heaps! Cheers from NZ
one of the best explanation vids ive seen thus far
I learn alot from you - thanks👍🏾
The precise balance you maintain in warranting bitcoin price rise and risks involved is fascinating, and my prediction for post halving after 6 months would be a price drop from the present levels and gradually the rise after 12 months but the peak would happen around 24 months, thought the halving makes bitcoin much more rare commodity, yet the world economic scenario is fragile and another recession would have adverse effects on post halving 12 month period and hopefully by 24 month post halving we might come through the peak. your sharpened agile conveying still amazes me, Love from India.
You are simply the best. Best youtube video on Bitcoin halving and price prediction so far. Thanks for the good work
SUBSCRIBED!!! I love your content
16k is my prediction... end of the year...
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I am learning so much from you, Thanks!
excellent video Casey keep up the great work
I'm a new investor in bitcoin. I acknowledge that you're not a financial advisor and you're not supposed to tell me what to do but I'm at a point of choosing to invest this week in bitcoin or after the halving ? how can i stack probability in my favor ? any advice will help .i enjoyed your video ...thanks for all you do CryptoCasey :)
i have the same dilemma? buy now or after halving?
I'm surprised you haven't been featured on Max Keiser!
You are undoubtedly the best explainer of complex crypto elements - thank you.
You and the 99 Bitcoins guy are my go to's when I'm having trouble understanding all things cryptocurrency
Right after halving: $12k then back down to $6/$5k
6months after: back up to $9/$10k
12months: $15-$20k
18months: $35- $45k
Never in such a short time
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I'm going long. After the halving if it drops I'm buying more. Thing is with the halving taking place amidst the coronavirus, that may be the event that makes it skyrocket
Fast, clear, smart... simply stunning! Thanks Great Girl
You deserve everything . Liked and subscribed immediately. Thanks !
I think that the halving, economy crash, and a pandemic is the perfect storm for Bitcoin
Agreed
Surely, that is short term... If you mean these events will cause a drop in price... The response to the COVID19 epidemic, particularly the printing, as well as super low and many negative interest rates and the resulting 'war on cash' has got to be bullish for BTC and other Cryptos... Buying opportunity?
Great EXPLANATION
Cool video! I'm reading Mastering Bitcoin right now. You did a great job explaining the technology
Thanx for this beautiful explanation...Perhaps this is the only video on you tube that has explained the concept in a very simple way. I like your presentation skill & no doubt you are smart & intelligent.
Satoshi is a genius!
Satoshi is not a person but an agency
Crypto Casey is back!!! She taught me how to use ledger nano! Xoxo CC!!
I agree if it wasn't for her professional videos I never would have gotten set up properly.
Really well done! I appreciate your knowledge and insight.
Holy cow!! I just stumbled upon your video and you very well explained everything!!!
Could you please make a video on Cardano? what are some use cases for the Cardano Cryptocurrency in the future? Great vids!!!
I have a question . Will this halving only affect bitcoin or other cryptocurrencies Also ؟
ahmad raul in the past when bitcoin sky rocketed so did XRP I’m not sure why but it might this year too
Buy sh@tcoin. It's like bitcoin, but better!
Bitcoin is broken down into units called a Satoshi. One Satoshi is worth .00000001 BTC so as the value of BTC increases that means the value of a Satoshi increases which means all other currencies - also based on the value of BTC/Satoshi's) will increase or decrease in value automatically has BTC increases and decreases in value. Then you have the strength of each token/coin project and each having their own specialty. Whether its a financial system (BTC) or Smart Contract Platform (ETH) or a combination of the two (EOS or Cardano ADA), these projects are seems to have value based on the support each project has from the community and the effort the project founders out into it.
As you can see there are multiple parts to the value of BTC and all the other alts out there
Technical speaking, only the Bitcoin Blockchain will be affected.
Speaking in a bigger proespective, the halving could affect other coins.
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Very nice, clear explaination...thanks so much for such info...
Beautifully explained by eye candy . A Big Thankyou