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Why does Bitcoin halve (Why does Bitcoin take a year to sell)

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Why does Bitcoin halve? This is a hot topic in the blockchain industry. Bitcoin

Why does Bitcoin halve (Why does Bitcoin take a year to sell)

Why does Bitcoin halve? This is a hot topic in the blockchain industry. Bitcoin recently announced the upcoming BCH hard fork upgrade: increasing the block size from 128MB to 160KB (based on network mining difficulty and block rewards), and the new algorithm stable coin BSV will reduce production to 32GB on June 8th (according to official news, these two numbers will gradually decrease over time).

This upgrade is called “BitcoinCorev1.8.4” or BTC/USDT Improvement Proposal (BTF). The proposal is a new mechanism proposed by the Bitcoin Core development team and former Vice President of Ant Group, Li Qiuyuan. It introduces a new cryptographic technology framework, BitcoinCorev1.4.0 version, aiming to achieve decentralized storage of Bitcoin while maintaining its price stability and non-fungibility. In addition, to ensure the security of user funds, BitcoinCorev1.5 version has also been updated:

1. “Supporting smart contracts through the use of BitcoinCore protocol,” allowing users to write smart contracts in any language and execute specific applications.

2. “Ability to create transactions of any type directly.”

3. “Anyone can choose to join a project group to participate in governance without needing to possess a certain number of tokens like other community members.

Currently, the code of some well-known projects has been open-sourced and is being tested, such as Mars Cloud Computing (HASHKEY), etc. However, since the code of these projects is publicly transparent and unaudited, it is impossible to determine if they truly meet the standards, so they need to rebuild their products and services. Additionally, they hope to provide better products for more high-quality service providers.

Why does it take a year to sell Bitcoin?

Why does it take a year to sell Bitcoin? Since 2013, it has been the first hard fork of Bitcoin. In January 2016, miners were rushing to sell their tokens for “alchemy,” but it wasn’t until April of this year that the halving market truly arrived.

In late 2017, the sharp drop in Bitcoin prices caused a decline in confidence in the blockchain industry. At that time, some netizens believed this was due to the low efficiency and high transaction fees of the Bitcoin network, causing many people to view Bitcoin as a Ponzi scheme. After the price drop of BTC to around $3000 in early 2018, many investors turned to invest in other cryptocurrencies (such as Ethereum) and regarded them as safe-haven assets. However, due to the market recession, by the end of 2017, a large number of speculators and funds flowed into the Bitcoin field, ultimately leading to significant fluctuations in Bitcoin in the first quarter of 2020.

So, what factors determine the launch of a new project? In fact, apart from miners, the interests of most participants have not been well represented. Therefore, many industry practitioners do not understand and cannot make reasonable and feasible decisions regarding this issue. (chaindede)

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