Bitcoin’s fourth halving, a highly anticipated event occurring every four years in the cryptocurrency realm, has finally occurred.
Typically, the halving slows the rate of supply expansion, although at the expense of Bitcoin miners, who face a 50% reduction in block rewards. This adjustment may prompt a temporary decline in the Bitcoin network’s hash rate, as miners with older and less energy-efficient hardware may find their operations no longer profitable and opt to shut down.
“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”
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