Bitcoin has been in the cryptocurrency market for approximately 11 years, since its first publication. It has positioned itself as a profitable and global activity, recognized by many entities in the world, with pros and cons; it continues to grow.
Similarly, Bitcoin mining is a complicated process, requiring many hours, equipment, and electricity to decipher equations and blocks. Bitcoin’s price is strategically above $ 9,000, a very attractive amount, and a point of discussion for banks and governments.
Talking more deeply about Bitcoin mining requires time, subject matter specialists, and resources that define each algorithm. This process generates rewards, and these rewards are located at 50% according to rules established by their creator.
First of all, to get to bitcoin halving by mining, these specific rules must be met. The first has to do with the limited supply of Bitcoin at 21 million BTC. This would be the 50% percentage value described above.
Second, for every 210,000 blocks added to the blockchain, the reward decreases by 50%. These are rules that must be strictly adhered to when it comes to Bitcoin mining and Bitcoin halving.
The value of the reduction percentage and Bitcoin itself is determined by supply and demand. According to studies, and seeing the increase in cryptocurrencies in the market, these could decrease their value accordingly. So the block reduction or reduction to Bitcoin halving occurs every four years.
By May 7, the reduction would be approximately Bitcoin halving 2020. This will prevent the creation of more cryptocurrencies that can reduce the value of existing ones in an extremely broad market.
Mining is a complicated process, which requires a lot of intelligence and exact, but the results are impressive. Operators who decipher the algorithms receive up to 12.5 bitcoin per block, considering that each Bitcoin is at $ 9,000.
In 2017 bitcoin reached a run of $ 20,000, and by the end of 2019, it was profiled at $ 13,000. So for 2020, it is shaping up very well in terms of numbers and net values.