Bitcoin Halving What to expect after the halving process

What is a Bitcoin halving?
When will be bitcoin halving
Frequently asked questions

Every Bitcoin enthusiast is anticipating for the upcoming event called bitcoin having. This event happens every 4 years and it is when the Bitcoin block reduces to 50%. Effectively this having process will result in the slashing of the rewards the miners receive from mining bitcoins

However, this is not all doom and gloom for miners, because historically the having phenomenon has led to all time highs in bitcoin prices and investors anticipate that this will also be the case after the upcoming halving.

Bitcoin halving price prediction

Bitcoin may be forced to jump from 8k to 10k prior to halving and then have a painful correction for the weak hands. The drop may go for a few days to months before bitcoin catapults into all-time highs.

DO NOT DAY TRADE!

Bitcoin halving dates history

First halving was November 28, 2012. Block reward dropped from 50 bitcoins to 25 bitcoins

Second having was July 9 2016. Block reward dropped from 25 bitcoins to 12.5 bitcoins

Next halving will be 12 May 2020. Block reward is expected to drop from 12.5 bitcoins to 6.25 bitcoins

Bitcoin Halving Countdown

Frequently Asked Questions (FAQ)

What is a Bitcoin halving?

From inception, the bitcoin network was issuing 50 Bitcoins every 10 mins. Four years on the network reduced to 25 bitcoins every 10mins and the most recent one 4 years ago saw bitcoin network reducing the issuing to 12.5. Therefore, we gather that the network is programmed to halve the rewards every four years. New bitcoins are issued by the Bitcoin network every 10 minutes. The upcoming halving will see a drop from 12.5 bitcoins to 6.25 bitcoins.

What will happen after Bitcoin halving?

Bitcoin having is when the number of bitcoins created per block reduces by 50 percent.
In a normal economic environment, any reduction in supply will result in the increase in price of the commodity. If the bitcoin markets response to the supply curve we are likely to see bitcoin price increase its value by at least the factor of 2.

What date is Bitcoin halving?

The Bitcoin halving is estimated to occur on the 12th May 2020. The experts have come up with the date from their calculations that bitcoin block will reach 630000 by this date. However, halving is not linked to any date it happens when the block size reaches 210,000 blocks

Does Bitcoin halving affect Altcoins?

Simple answer is Yes, this is because most altcoins respond heavily to any movement in bitcoin price and if bitcoin rockets upwards so will majority of altcoins.

What will bitcoin be worth in 2020?

Bitcoin is currently worth around 8,000usd. No one knows for sure how much it will be after the halving, but my best guess will be way higher than $8000. There may be a time after halving when the bitcoin will drop significantly, however, in my opinion the low prices will be short lived.

How many Bitcoins are left?

There are almost 2,6 million Bitcoins left to be mined into circulation. The maximum number of bitcoins in existence is only 21 million Bitcoins and the amount in current circulation is 18,4 Million that leaves only 2.6 million.

Is it a good time to buy Bitcoin?

It is never been a good time to buy bitcoin than now. However, I would advise you to seek your own financial advice because there is risk in any form of investing and bitcoin is not immune.

Quiztok (QTCON) – A messenger chat-bot for quiz

What is QTCON

Where to buy QTCON

Who created QTCON

What is Quiztok (QTCON)?

  • Quiztok is a service based on a social media instant message chatbot. It generates quiz on messengers such as telegram when you use quiztok to add them as your friends.
  • You can easily create and customize your quiz using a clean interactive user interface

Quiztok is designed to disrupt the mobile marketing industry with its inbuilt function for users to create quiz with sponsoring options, donations and more.

Where to buy Quiztok?

The token is available for purchase on Coinone and the current price is shown below

Who created Quiztok?

The token was developed by a Japanese team at Quiztok Co Ltd and below is the list of founders:

  • Jeon Changsub – CEO
  • Hwang Sehoon – Head of Japanese Business
  • Lee Keunwoo – Vice President
  • Yang Jongil, Jang Wonjun, Kim Dogwoo, Kim Seonwoong, Han Kyunghyun (developer team)
What is Quiztok?

Quiztok is chatbot system that create quizes for messenger services such as telegram etc.

Where to buy Quiztok

You can buy this token on an exchange called COINONE

Who created Quiztok

The token was created by Japanese developers at Quiztok Co. Ltd

SPICE Token, A BCH Simple Ledger Protocol Appreciation Token

Spice is a token created on the simple ledger protocol (SLP). It is dubbed an appreciation token. Spice is popular within the Bitcoin Cash (BCH) blockchain community.

Spice is named an appreciation token because of its primary function being for tipping others on social media. It is part of the larger Social Tipping Platform and it utilises a bot called spicebot. All the content that has been tipped using Spice is aggregated through a Spicefeed that distributes across major social networks.

How to accumulate and distribute SPICE token?

Spice is distributed through a Proof Of Fen (pof). When you tip someone with spice and put pof on the suffix of your tip, and they tip someone more than you tip, the person you tip receives the highest score on the pof scale. The image below illustrates how it works:

screenshot from SPICE official site
screenshot from SPICE official site

To withdraw spice tokens, you only need to type “Withdraw (put amount you wish to withdraw) [put you Bitcoin Cash Simple Ledger Protocol address]”
eg: withdraw 200 simpleledger:qzxxxxxxxxxxxx
This process will convert SPICE social media points to SPICE simple ledger Tokens.

FAQ

What is SPICE token?

SPICE is an appreciation token build on a single ledger protocol. This token is famous within the BCH community.

What do you use SPICE for?

SPICE can be used to pay tip to someone you like or enjoy their content and works on major social media platforms. To learn more about SPICE, visit the BCH community.

How cool is the BCH community?

BCH community can be considered a very cool community of like-minded people who are strong believers in the power of cryptocurrencies.

Who created SPICE?

SPICE was created by Spicetoshi. We are still investigating who this Spicetoshi is, but if we hang around the BCH community long enough we will soon know who this person or group of people are.

More Recent Articles

How Cryptocurrency have been impacted by Coronavirus COVID-19

Cryptocurrency & COVID-19


As you know the most important thing to do in times of crisis is not to panic. But fear has a strange way to slip past common sense, particularly when there are large sums of money to be lost. The trading industry suffered a big hit, with no one willing to take the risk. Now we have huge volatility rates for pretty much any resource you may like to trade in or invest in. However, even with a situation like that, there are still ways to make money when dealing with crypto because if you know what to do and how to act, there are ways to benefit from high volatility. In this article we will address what is COVID-19, and how is it going to affect Cryptocurrency?

What is COVID-19?

COVID-19 known as Novel Coronavirus-19 is a new type of coronavirus belong to a large family of viruses that had previously not been identified in human beings.

No human being, without resources, can think of survival. From food to education and anything without currency one can’t get it. The World Health Organization pushed back on a report Friday that people should look out for currency notes as coronavirus could spread via currency. In addition, WHO stated that banknotes are spreading the coronavirus most, therefore, people must wash their hands after handling cash. Concerns have mounted over whether or not currency could play a part in spreading the virus.

How Cryptocurrency and COVID-19 Related?

When COVID-19 drives hospitals to break point in the worst-affected countries, nonprofits mobilize in crypto-currency for donations.

The COVID-19 had changed everything just from last week. It’s about everything from everyday life to global transactions. Where it adversely affects local business, it affects the Cryptocurrency. COVID-19 soon stunned cryptocurrency markets, with the price of Bitcoin plummeting below $4,000 in early March in the midst of the largest exchange inflows ever.

Do you think of a payment or transaction in which you don’t have to touch cash, even if the credit or debit card is used? Why can’t we speak of digital currency in that digital era?
” I should let you know, now is the ideal opportunity for us to dream about utilizing cryptographic forms of money.

No need to pass currency or cards to buy products. Easy, secure, borderless transactions, where your digital wallets are being used. You don’t have the fear of spreading COVID-19 by currency.

As the global economy struggles to remain alive, several countries are desperately trying to work out strategies for how the virus can be controlled. The demand for cryptocurrencies has also been greatly affected by the inexperienced virus that hit the planet at the end of last year.

Cryptocurrency and COVID-19 Effects on Market

Three months deep into 2020, more than 700,000 are affected, as are more than 33,000 deaths worldwide and further are expected to be effected by this virus in coming days the reports suggest . Coronavirus has impacted the daily lives of citizens – schools, colleges, and universities have been closed and a national lockout has also been enforced in some countries.

The cryptocurrencies declined along with the stocks until mid-March, and the correlation between the BTC exchange rates and the S&P 500 index set a new all-time high. The S&P 500 dropped by about 30 percent from 20 February to 15 March, while the price of BTC dropped by nearly half, from above USD10000 to USD5000. However, after the Federal Reserve declared emergency steps from 16-17 March The markets are not associated with each other anymore. The connection between S&P and BTC dropped dramatically, and the exchange rates for cryptocurrency started to rise following more falls in the indices.

With its rapid spread and the terror it inspires, COVID-19 has essentially halted the global economy, invading all areas of financial activity, including the realm of crypto-currency.

Firstly, the damage to Chinese imports has directly impacted countries across the world’s export economy. This affected numerous significant areas, for example, oil, agrarian merchandise, and metals. This affected numerous significant areas, for example, oil, agrarian merchandise, and metals.
Approximately 30 percent of crude oil prices plunged after Russia agreed not to help the rest of the oil producers in reducing production. This was followed by a significant decline in U.S. indexes by more than 6 percent along with the entire U.S. Treasury yield dipping for the first time in history below 1 percent.

At the same time, many market sectors that are officially deemed “non-essential” face the imminent threat of bankruptcy due to quarantine staff, logistical restrictions, diminishing assets, inadequate cash flows and ultimately – barriers to lending and debt restructuring helped.

This involves mining companies that are unable to continue to finance their company in part due to, in addition to the above-mentioned reasons, restricted ability to procure mining equipment from suppliers based in China, as well as the price fallout from the Bitcoin network over the past few weeks. Some bigger mining rigs are configured to shut down once Bitcoin’s price goes through, set lower limits, and return to full functionality once Bitcoin’s price recovers to some stage.

Future Prediction of COVID-19 effects on Cryptocurrency

Vincent Poon, Bathtub Global’s vice president, a digital asset trading company, said the “hash rate drop is due to global uncertainty similar to other assets.” He said the crypto market still has a “handful” of Ponzi schemes where people are invited to invest in a certain amount of coin and guaranteed high returns. Poon said there was also a cash-out of these Ponzi schemes which also influenced a coin’s price.

“It’s (the effect) isn’t totally different,” said Raghu Mohan, fellow benefactor of IBC Media, an advertising arrangements organization that works with square chain firms. He said the requirement for liquidity has dropped because of the pandemic.
He said that most retail investors who prognosticated a freeze have liquidated. COVID-19 doesn’t simply influence the cost of bitcoin or different monetary standards. Cryptocurrency mining is a big offline operation in which mining farms are close to data centers, requiring a ton of electricity and cooling system’s for the machines.