Bitcoin Halving is set to take place in May 2020. The communities are discussing what Halving effect will be, relating to price, Bitcoin miners reward and the possible long term effect.

Currently, there is a global crisis that has lead to a pause of most economic activities. COVID 19 has spread across the globe with an effect on the nation’s economy, Bitcoin Halving is not going to be affected by the virus come May 2020 it will take place. This has occurred twice already with a current reward at 12.5 BTC every 10minutes this will be halved to 6.25 BTC. How did we come about the numbers it has been pre-programmed on the network (software) from the inception which was deployed by Satoshi (could be a person or a team).
The debate mostly has been on the price due to shrinking in the reward and predicted continuous rise for demand, might see the price of cryptocurrencies skyrocket but its all theories now.
You have no idea what Bitcoin Halving is about please read: Bitcoin Halving
let’s look away from price prediction something else to look at will be miners reward. If the reward gets halved and price does not really go high as predicted, will these affect the profitability of miners on the network to still be able to run the machines and pay the electricity bills?


The next halving will majorly affect small-time operators forcing them out of business except for the price of Bitcoin reaches new all-time high that can enable such operators, this means if you not upgrading to a more powerful capacity it becomes more difficult for you to profit from mining bitcoin. In short-term could see a drop in the hash rate on the network but this could be just on the short note as people will start increasing capacity to meet up to demand in the long run the Hash rate on the network could significantly increase in the hash rate that will further increase the security of the network.
For Bitcoin miners to remain profitable after halving there are few things to consider in their operations, a machine with higher capacity and low power consumption (hardware such as the Dragonmint T16 and the Antminer S9) they boast of having such degree of efficiency. second on the list will be based on the region if a miner could move rigs to a cold region with cheaper electricity that could help make the process more profitable. you may ask why cold region the answer is it helps cut down on the cost of installing a cooling system that will need a certain level of electricity consumption.

Bitcoin halving will have an impact on bitcoin mining in the short and long term, with shake off of those who are in it for a short investment and benefit the long term investors. as the industry continues to mature there will be continuous development on improving the efficiency of the hardware used and improved source for energy (green energy). Bitcoin mining profitability will depend on bitcoin market price and that will mean that bitcoin miners should look to be a long time player than seeking short-term gains.

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are you Holding Bitcoin?

Embito:
are you Holding Bitcoin?

Sure. Just a Meagre 0.03

Umarzy:


Sure. Just a Meagre 0.03

not a bad Hodl

people need to shift investment focus

Embito:


not a bad Hodl

people need to shift investment focus

Yes Sir

as we keep seen growth in the blockchain industry I advise you to join us

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steps mean progress

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THE market is all about trends

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Bitcoin Halving 2020 means continuous progress of the network

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