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05-11 12:14 - 'Bitcoin Third Halving D-Day: Understand Everything in 5 Minutes' (self.Bitcoin) by /u/ThisisMariusKramer removed from /r/Bitcoin within 116-126min

For months now, the entire Bitcoin community has been waiting for this great day. This incredible expectation has now surpassed the cryptocurrency world as shown by the explosion of search volume for the term “Bitcoin Halving” on Google.
This Monday, May 11, 2020, Bitcoin third Halving will take place.
A lot has been written about this third Halving. Nevertheless, some people still ask me questions about what the Bitcoin Halving is. To help you get ready, I give you in 5 minutes the keys for understanding everything about this third Bitcoin Halving.
Bitcoin’s Monetary Policy is Predictable and Transparent
Bitcoin supply is finite. There will never be more than 21 million Bitcoins in circulation. This limit is written into Bitcoin’s source code, and it cannot be changed without a consensus within the community.
Concretely, this limit of 21 millions will never change, because it is an incredible strength of Bitcoin.
At the time of this writing, 18,373,937 BTC have already been mined. This means that 87.49% of all Bitcoins have already been created. There are only 12.51% of Bitcoins left that can be created.
Bitcoin is therefore the scarcest invention ever created by man.
Transactions on the Bitcoin network are grouped into blocks. In order to correctly add a block of transactions to the Bitcoin Blockchain, some specific users of the network will have to solve a mathematical puzzle that requires phenomenal computing power.
These particular users are called miners. They put their computing power at the disposal of the network in order to secure the network.
When a miner successfully solves this mathematical puzzle for a given block, that block of transactions is added to the Bitcoin Blockchain. As a reward, the miner, or more generally the pool of miners, receives a Bitcoin reward.
The new Bitcoins are created at that moment.
Bitcoin Halving Reduces the Production of New Bitcoins Over Time
When Satoshi Nakamoto launched the Bitcoin network on January 3, 2009, this reward was 50 BTC. For every 210,000 blocks of transactions validated, this reward is halved in an operation called Halving.
Currently, Bitcoin is at block height 629,942:
Since a Bitcoin Halving takes place every 210,000 blocks mined, this means that there have already been two Halvings so far:
The first took place at block height 210,000 on November 28, 2012. The reward was then decreased from 50 BTC to 25 BTC.
The second took place at block level 420,000 on July 9, 2016. The reward then went from 25 BTC to 12.5 BTC.
Bitcoin third Halving will take place at block height 630,000, in 85 blocks.
On average, a new block is issued every 10 minutes. This gives predictability to the issuance of new Bitcoins. We can therefore estimate that 6 blocks are mined per hour, or a total of 144 blocks per day.
With a current reward of 12.5 BTC per mined block, the daily production of new Bitcoins is 1800 BTC.
At block height 630,000, the third Bitcoin Halving will take place. From that moment on, the reward will be 6.25 BTC. The average daily production of new Bitcoins will then be 900 BTC.
This third Halving will be a historic supply shock that will bring inflation down below 2% to 1.8%.
The date of each Halving cannot be accurately predicted. The reason is simple: the production of the blocks will depend on the computing power available on the Bitcoin network. This computing power is called the Hash Rate.
When the Hash Rate rises sharply, time between production of each block falls below 10 minutes. When the Hash Rate drops, time between production of each block rises above 10 minutes. The average delay between each mined block clearly shows this:
In order to keep the predictability of new block issuance on the Bitcoin network, the difficulty to mine a block is adjusted every 2016 blocks, approximately every 2 weeks.
If the Hash Rate has increased sharply previously, causing the block production time to drop below 10 minutes, the difficulty will increase. If the Hash Rate has previously dropped sharply, the difficulty will decrease.
The evolution of the mining difficulty since the creation of Bitcoin clearly shows that mining a new block has become more and more demanding in terms of computing power:
Bitcoin’s Predictability Provides Its Users With Essential Guarantees
By guaranteeing this predictability, Bitcoin allows its users to know in advance how Bitcoin supply inflation will evolve in the coming Halvings:
At block height 840,000, probably in 2024, the reward will be 3,125 BTC. The daily average production of new Bitcoins will be 450 BTC.
At block height 1,050,000, probably in 2028, the reward will be 1,5625 BTC. The daily average production of new Bitcoins will be 225 BTC.
At block height 1,260,000, probably in 2032, the reward will be 0.78125 BTC. The daily average production of new Bitcoins will be 112.5 BTC.

Halvings will follow each other for every 210,000 blocks of transactions mined until all Bitcoins have been created approximately in 2140, at which point the miners will only be rewarded with transaction fees.
Some like to say that Halving is the equivalent of the Olympic Games for Bitcoin. Halving is a great marketing campaign for Bitcoin every 4 years.
Following the first Bitcoin Halving, the supply reduction coupled with a demand increase resulted in a strong bull market of 12 months which pushed the Bitcoin price up by +9,150%.
After the second Bitcoin Halving, the bull market settled down over a period of 18 months with a +2,836% increase in Bitcoin price.
Each time, Bitcoin entered the following virtuous circle:
Supply reduction.
At constant demand, Bitcoin price starts to rise.
Increase in demand due to Bitcoin price increase.
Even higher Bitcoin price increase.
Back to step 3.
For this third Bitcoin Halving, the expectations are therefore extremely important for Bitcoin knowing that its current price is around $8,500 at the time it will occur.
After reading this story, I think you are ready for the big day.
In a few hours, [Bitcoin ]1 third Halving will take place, and with all the cards in your hand to understand what it is all about, you can make the best possible decisions in the days and weeks to come
Bitcoin Third Halving D-Day: Understand Everything in 5 Minutes
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Author: ThisisMariusKramer
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Craig Hamilton Parker: Predictions for 2020 and Beyond

My Top 6 Predictions for 2020:

My Top 6 Correct Predictions for 2019

World Psychic Predictions

War in the Middle East

(I see this unfolding over 2020 and 2021)

Donald Trump(Happening in 2020. Most of these predictions have been made in earlier my YouTube videos with additional details.)

(Happening in Donald Trump’s second term)

Boris Johnson

World Finances

(Note I am not trained in economics. Get advice from a qualified person when making investments.)

Revolution in China

(See my China predictions and YouTube videos for more details)

North Korea

Other News

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Weekly news review (October 26-1)

Weekly news review (October 26-1)
Hello, Community. We hope you had a great weekend. Without further ado, let's jump into last week's news highlights!

Microsoft has issued a short notice, warning about a new wave of highly targeted cyberattacks by a group of Russian state-sponsored hackers attempting to hack over a dozen anti-doping authorities and sporting organizations around the world.
The attacks are originating from the 'Strontium' Russian hacking group, widely known as Fancy Bear or APT28, and are believed to be linked to the upcoming 2020 Summer Olympics in Tokyo. The Fancy Bear hacking group, also known as APT28, Sofacy, X-agent, Sednit, Sandworm, and Pawn Storm, is believed to be linked to Russian military intelligence agency GRU and has been in operation since at least 2007.
The latest cyberattacks began on September 16, apparently after the World Anti-Doping Agency (WADA) found irregularities in a database from Russia's national anti-doping laboratory, warning that Russian athletes could face a ban from competing at Tokyo 2020 Summer Olympics. Microsoft's Threat Intelligence Center said that some of these "significant cyberattacks" were successful, but the majority were not, and that the company notified affected organisations and worked with some of them to "secure compromised accounts or systems."

The U.S. multinational computer software company Adobe has suffered a serious security breach earlier this month that exposed user records' database belonging to the company's popular Creative Cloud service. With an estimated 15 million subscribers, Adobe Creative Cloud or Adobe CC is a subscription service that gives users access to the company's full suite of popular creative software for desktop and mobile, including Photoshop, Illustrator, Premiere Pro, InDesign, Lightroom, and many more.
Since the misconfigured cloud database did not include any password or financial information such as credit card numbers, the exposed data is severe enough to expose Adobe CC users to highly targeted and convincing phishing attacks.

Earlier in the week, BTC swiftly dropped by 10% after failing to hold above the $8,000 support.
By Thursday, BTC/USD was sitting on the bottom trendline of the descending channel and many investors and analysts were calling for a drop to $7,000.
A few even predicted that a revisit to the long-term support at $6,500 was on the cards. Despite the bearish bias, traders like Scott Melker and Michaël van de Poppe spotted a series of bullish divergences on the 4-hour and daily timeframe and by Friday morning (Oct. 25) the chart and various indicators on the hourly and 4-hour timeframe were flashing bullish.
Investors believed that a quick upside move to $7,700-$7,800 would occur and many expected that bears would open their short positions at the top of this range and eventually push Bitcoin price back down to the mid $7,000s or high $6,000s at worst.
Obviously, this is exactly what did not happen and the short squeeze that accompanied the first part of Bitcoin’s 16% rally from $7,450 to $8,600 resulted in the liquidation of $150 million shorts at BitMEX.
After such a strong move, consolidation around the $8,300 to $8,500 region was the next expectation that traders had in mind. Tackling the $8,800 resistance would have been the next step and it seemed likely that this would play out depending on the state of the weekly candle at closing.
Surprisingly, Bitcoin bulls gathered up enough steam for a final hurrah, and towards the evening of the U.S. trading session bulls pressed Bitcoin price far above the $8,800 resistance to set a higher high at $10,540.
Analysts and traders will probably spend the weekend searching for the exact reasons that catalyzed today’s strong 36% surge — the biggest daily gain since 2011.

The Standing Committee of the 13th National People's Congress in China has passed a new law regulating cryptography on Oct. 26 that will take effect on Jan. 1, 2020, reports local news outlet CCTV.
Per the report, the new regulatory framework aims to set standards for the application of cryptography and the management of passwords. The new regulatory framework establishes the role of a central cryptographic agency meant to lead public cryptographic work, creating guidelines and policies for the industry.
The draft of the law was published on May 7 by a Chinese news outlet. The text is largely focused on government centralized password management and does not explicitly mention cryptocurrency, though it does focus on cryptography, a key component underpinning cryptocurrencies such as Bitcoin.

Five European Union member countries have reportedly teamed up to prevent the issuance of Facebook’s stablecoin Libra.
Following a series of private meetings in October, France is reportedly leading the anti-Libra effort with Germany, Italy, Spain and the Netherlands, political news publication Politico Europe reports on Oct. 30.
Citing sources familiar with the matter, Politico states that the countries’ deputy finance ministers have presented their unified position against Libra to other EU ministers at a private meeting on Oct. 28 in Brussels.
According to the report, the group intends to prevent Libra from launching in Europe as well as increase pressure on Facebook and other members of the Libra Foundation to give up on the project. Eurozone diplomats and European Commission (EC) officials reportedly confirmed to Politico that the coalition is encouraging EU governments to consider banning Libra altogether.

Let us know in the comments section down below!
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Morning Coffee

The White House will roll out a long-awaited infrastructure plan today, which already faces hurdles in Congress because it doesn't offer as much new federal funding as Democrats want, or directly address how to pay for the effort. President Trump will propose spending $200B over 10 years, mostly in the form of grants designed to encourage states and cities to raise their own money for infrastructure projects, hoping to spark $1.5T in new investment.
Following last week's roller coaster ride, U.S. stock index futures are up by 1.2%, but with yields on U.S. 10-year Treasury paper touching a four-year top of 2.885%, it's too early to sound an all-clear on volatility. Another upcoming challenge will be the release of U.S. consumer price data on Wednesday - given that it was fears of faster inflation, and thus more aggressive rate rises, that triggered the global rout in the first place.
"There is a clear path forward [on NAFTA] and we're working very hard together on that path," said Canada's Justin Trudeau, capping a U.S. tour Saturday in Los Angeles. "Let's not step back from the progress our countries have made... A generation later, it can be morning in North America." He also identified several tough issues - including Chapter 11 investor-state dispute panels, U.S. proposals for the auto sector, and a U.S. demand for a sunset clause.
Longest blackout in U.S. history... An explosion at an electric substation threw much of northern Puerto Rico into darkness late Sunday in a setback to fully restore power to the territory more than five months after Hurricane Maria. Just last week, Fluor (NYSE:FLR) confirmed that its crews supporting the U.S. Army Corps of Engineers have helped to restore power to more than 232K customers throughout the island since arriving in October.
North Korean leader Kim Jong Un has invited South Korean President Moon Jae-in to Pyongyang "at an early date", potentially setting up the first meeting of Korean leaders in more than a decade. Moon steered clear of any immediate commitments in response to the North's offer, saying he hoped to "create the environment" for such a summit to take place. The development extends a thaw in cross-border relations that saw the two Koreas' athletes march together under a unified flag at the Pyeongchang Winter Olympics.
Comcast is considering a new offer for Twenty-First Century Fox's (NASDAQ:FOXA) assets despite an agreement in December to sell them to Walt Disney (NYSE:DIS) for $52.4B, WSJ reports. Its original bid was reportedly around $60B, but there were concerns that a deal could face antitrust challenges. Comcast (NASDAQ:CMCSA) might even be prepared to remove certain assets from the deal, or zero in on something in particular, such as European pay TV giant Sky (OTCQX:SKYAY).
Walt Disney is also changing the admission price for its U.S. theme parks, raising the cost of some single-day tickets by almost 9%. Theme parks are Disney's (DIS) second-largest division, bringing in $18.4B in revenue and $3.8B in operating income for the fiscal year that ended in September. In other news, Alibaba (NYSE:BABA) has signed a deal to offer Disney shows on its Youku video streaming platform.
Broadcom has secured as much as $100B of debt financing for its attempted takeover of Qualcomm (NASDAQ:QCOM), WSJ reports. Locking down funding for the deal would remove a major question mark over the hostile bid, which if successful would be the biggest technology takeover ever. Qualcomm and Broadcom (NASDAQ:AVGO) intend to meet Wednesday to discuss the potential deal.
In a sale overseen by the Chinese government, Blackstone (NYSE:BX) may be reacquiring some assets from Anbang, including New York's Waldorf Astoria hotel and Strategic Hotels & Resorts, Bloomberg reports. Blackstone scored big in 2016 when a company it owned - Hilton Worldwide - sold the Waldorf for a record $1.95B. Less than two years later, Blackstone sold its stake in Hilton to China's HNA Group.
1 of every 13 visits to the doctor last week was for fever, cough and other symptoms of the flu, tying the highest level of the virus seen in the U.S. since the swine flu of 2009. "This is a difficult season, and we can't predict how much longer the severe season will last," said Dr. Anne Schuchat, acting director of the CDC. Deaths from influenza and pneumonia, which are closely tied to each other in the winter months, were also responsible for 1 of every 10 deaths last week, and that's "likely to rise."
OxyContin maker Purdue Pharma is stopping to promote the drug and other opioids to doctors amid a series of state and municipal lawsuits that blame the company for contributing to the opioid epidemic. It will also cut its U.S. sales force by more than 50%, to about 200 people, while remaining representatives "will no longer be visiting offices to engage in discussions about opioid products." Related tickers: JNJ, ENDP, TEVA, ABC, MCK, INSY, DEPO, AGN, ALKS, MNK, AMPH, PFE, TTNP, BDSI, DRRX, CARA, COLL, EGLT, PTIE, ACUR, PTX, ACRX,IPCI, KMPH, TRVN, CXW, BDSI, OPNT
Citigroup is setting up an innovation center in London in one of the first investments by a big U.S. bank since Brexit, FT reports. The location will house 60 technologists, as well as the EMEA unit of Citi ventures and employees from across the company's businesses. Despite the move, Citi (NYSE:C) has picked Frankfurt for its new post-Brexit EU headquarters.
One of the final fines for banks involved in the financial crisis looks to be nearing resolution. The U.K. Treasury has held secret talks with U.S. officials aimed at accelerating a multibillion dollar fine for Royal Bank of Scotland (NYSE:RBS) that would finally draw a line under its pre-bailout misconduct, Sky News reports. While RBS has already set aside £2.4B to cover the DOJ penalty, some analysts predict a fine could be higher than £5B.
Credit Suisse faces a U.S. class action lawsuit over $1B in writedowns it took in 2015 and 2016 linked to its trading division, leading to a drop in share price and costing investors millions, SonntagsZeitung reports. The plaintiffs in the case include the pension funds of fire departments and police departments in the U.S. city of Birmingham. According to Credit Suisse (NYSE:CS), the case is "without merit."
Warren Buffett's footprint is expanding to Dubai. Berkshire Hathaway Specialty Insurance (BRK.A, BRK.B) has established an office in the Dubai International Financial Center after gaining a license from the regulator. The insurer also has Asian regional hubs in Hong Kong, Singapore, Malaysia and Macau as it seeks to win over new clients in the region.
Unilever is threatening to pull back its advertising from popular tech platforms, including YouTube (GOOG, GOOGL) and Facebook (NASDAQ:FB), if they don’t do more to combat the spread of fake news, hate speech and divisive content. According to Unilever's (NYSE:UL) annual report, the consumer-products giant is one of the world's largest advertisers, spending more than $9B last year to market its brands such as Lipton, Dove and Knorr.
Amazon paid about $90M to buy the maker of Blink home security cameras late last year, in a bet on the startup's energy-efficient chips, sources told Reuters. Analysts had thought the deal related to smart delivery program Amazon Key, but it may have centered on lowering production costs and lengthening the battery life of the Amazon (NASDAQ:AMZN) Cloud Cam and Echo speaker. Blink says its cameras can last two years on a single pair of AA lithium batteries.
Takata's U.S. unit has reached a settlement with representatives of those fatally injured by defective air bags, paving the way for the company to exit Chapter 11 bankruptcy and move forward with a reorganization plan. At least 16 people have died and more than 180 have been injured due to Takata's (OTCPK:TKTDQ) inflators, which touched off the largest series of automotive recalls in U.S. history.
"The response from our customers regarding our new full-size SUVs has been exceptional," said Joe Hinrichs, president of global operations for Ford (NYSE:F). As a result, the automaker will expand production of the Expedition and Lincoln Navigator by approximately 25%. According to research firm AutoData, Navigator sales surged 88.6% in January.
Emirates has firmed up an order to buy as many as 36 Airbus (OTCPK:EADSY) A380 aircraft worth as much as $16B at list prices, ensuring production of the world’s biggest passenger jet for at least the next decade. The order, for 20 of the double-decker planes with an option for 16 more, was originally announced on a provisional basis in mid-January. Deliveries are due to begin in 2020.
Airbus has also halted all deliveries of its Pratt & Whitney-powered (NYSE:UTX) A320neo after the latest disclosure in a series of flaws with the next-generation engine, according to IndiGo, the company's biggest customer for the aircraft. EASA has warned of a new issue on the troubled engine program that may be connected to several in-flight shut downs, Bloomberg reports, and as many as 11 of the 113 delivered Pratt-powered A320neos (OTCPK:EADSY) have been grounded.
Space station privatization? The White House plans to stop funding the ISS after 2024 and is working on a transition plan that could turn the station over to the private sector, The Washington Post reports. NASA already subcontracts certain ISS support operations, such as supply flights carried out by SpaceX (Private:SPACE) and Orbital ATK (NYSE:OA), while Boeing (NYSE:BA) operates the station for NASA, which costs the agency $3B-$4B per year.
Weekend Reads PRO+ Weekly Digest: Focusing On Stocks To Buy On A Pullback
Marketplace Roundtable: Don’t Get So Emotional, Baby: Fear & Greed Trader On Tackling Market Turbulence
Today's Markets In Asia, Japan -2.3%. Hong Kong -0.2%. China +0.8%. India +0.9%. In Europe, at midday, London +1.1%. Paris +1.3%. Frankfurt +1.5%. Futures at 6:20, Dow +1.2%. S&P +1.2%. Nasdaq +1.2%. Crude +1.7% to $60.20. Gold +0.5% to $1322.10. Bitcoin +7.2% to $8651. Ten-year Treasury Yield +5 bps to 2.88%
Today's Economic Calendar 2:00 PM Treasury Budget
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Bitcoin Price Prediction 2020 - YouTube Bitcoin Has Formed A Trend... August 2020 Price Prediction ... Bitcoin Halving 2020 Price Prediction - YouTube Bitcoin Halving PRICE PREDICTION in 2020! - YouTube Bitcoin Halving 2020 Price Prediction $55,000 - $130,000 ...

Bitcoin (BTC) Price AnTy-May 6, 2020 0 Ripple Becomes First Distributed Ledger Technology Focused Company to Join ISO 20022 Ripple (XRP) Oana Ularu - May 6, 2020 0 While John McAfee’s $1 million Bitcoin price prediction by the end of 2020 is currently looking pretty shaky (he’s 95% off today) other analysts have made some more informed calls.. We’ve rounded up some of the best predictions for the year ahead. 1. Alex Saunders – Nuggets News. We won’t be focusing too much on price predictions (because they’re invariably wrong), but just for fun ... Bitcoin to reach $12,000 by 2020, according to Mike Novogratz Trump will lose elections by 10 million votes US Wrestling Team will win three gold medals in the Olympics The Elliot Wave Theory, discarded by most but used by some, has a bearish prediction regarding Bitcoin’s price this year. The theory is that Bitcoin will see a massive correction before the end of 2020, and that the price of the leading cryptocurrency will sink to a low $3,000 USD. John McAfee: Bitcoin Will Skyrocket up to $1 million USD Bitcoin Price Prediction: BTC slips into “Buy the Dip” Zone – exploring the SOPR on-chain index 0 By FX Street Published: Sep 23, 2020 10:02 GMT Last Modified: Sep 23, 2020 12:02 GMT Crypto News

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Bitcoin Price Prediction 2020 - YouTube

In this video, I perform technical analysis on the Bitcoin chart dating back to 2010, to predict the price of Bitcoin in 2020. This video is basing this pred... 🔵Phemex $112 Extra Bonus: https://phemex.com/web/user/register?group=74&referralCode=I4IEK 🔵Phemex Tutorial: https://www.youtube.com/watch?v=9YkwNfbiiV8&t 🟡B... Video includes tron 200 times faster then ethereum and 100 times cheaper then EOS , Ripple to be used as official crypto currency in olympics 2020 , Bitcoin to be used for crypto fun raising ... Bitcoin Halving 2020 Price Prediction $55,000 - $130,000 Explained - YouTube. Watch later. Share. Copy link. Info. Shopping. Tap to unmute. If playback doesn't begin shortly, try restarting your ... Discord (Krowns Crypto Cave) - https://discord.gg/hzKU7qe Twitter - https://twitter.com/krowncryptocave?lang=en https://krowntrading.net/ - The digital hub o...