The tension in the crypto market is increasing! The community is a few hours away from a special countdown moment: the bitcoin halving. This special day is only 90 blocks away.
The exact moment of this halving of the block subsidy is difficult to predict. That depends on a number of variables, mainly including computing power (and therefore also a large part of chance and randomness). The halving takes place every 210,000 blocks. This coincides with a period of approximately four years.
Countdown: the bitcoin halving is coming
With an average (!) block time of 10 minutes, you can imagine that with 90 blocks it will still take 900 minutes. And that is the equivalent of 15 hours. If you extend that from the moment of writing, that would be just after midnight, probably around 1 or 2 o’clock tonight. But again: no guarantees!
In itself it is a boring moment: Tick Tock, Next Block (unless something special happens with the weird sats and the Runes protocol).
The halving refers to the reduction of the block subsidy from 6.25 BTC to 3.125 BTC per block (or therefore: per ~ ten minutes). This is the mechanism that works together with the mining difficulty adjustment ensures that we end up with 21 million bitcoin in the year 2140.
After the first halving in November 2012, the block subsidy dropped from 50 to 25 BTC per block. Then in July 2016 it dropped from 25 to 12.5 BTC. The third halving took place in May 2020, reducing the block reward by another 50%.
A number of parties are planned in the Netherlands, including two in Amsterdam and one in Arnhem. In addition, many live streams are also planned, where bitcoiners experience this countdown moment together.
Follow all developments in our Halving Livestream.
Source: https://bitcoinmagazine.nl/nieuws/nog-maar-90-blocken-tot-de-bitcoin-halving
