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A bitcoin halving takes place about every four years, and the next one will take place next year, in 2024.

To be precise, the Bitcoin protocol is designed to perform a halving every 210,000 blocks. Since it typically takes about 10 minutes for a new block to be mined, about 144 blocks are mined per day, or more than 4,300 per month.

We are currently at just under 800,000 blocks mined, so there are still 40,000 to go before we reach the next one. In less than ten months, we should reach the fateful 840,000 block mark, which will trigger the fourth halving.

In fact, there is not always 10 minutes between one block and the next.

Mining a block means randomly searching for an alphanumeric string called a hash that validates it, and this search has unpredictable times because it is random.

However, it can be done in such a way that, on average, it takes about 10 minutes to find it, and this means that the so-called block time always remains fairly close to 10 minutes.

In May, for example, it was almost always slightly below this threshold, while in June it was often slightly above.

At the beginning of 2023, on the other hand, the block time was almost always below 10 minutes, which slightly shortened the estimate of the next half-yearly date.

This means that estimating the date of the next halving is not precise, even if you know for sure that it will happen exactly at block number 840,000.

It also depends on how you do it, i.e. whether you calculate it using the theoretical average block time of 10 minutes, or the current average block time, or the average block time of the last few months or years.

However, almost all estimates suggest that block number 840,000 will be mined between April and May next year, perhaps in late April or early May, triggering the fourth halving.

In the beginning, in 2009, Bitcoin was only mined by Satoshi Nakamoto and a handful of other early adopters, and it was mined quite quickly.

In fact, although the first block was mined on 3 January 2009, block number 210,000, which triggered the first halving, was mined on 28 November 2012, or 1,425 days later, or just under 3 years and 11 months.

The second cycle saw an even shorter block time, as block number 420,000 was mined on 9 July 2016, exactly 1,319 days later, or just over three years and seven months.

Even in the third cycle, the overall average block time was less than 10 minutes, so that block number 630,000 was mined on 11 May 2020, after exactly 1,402 days (just under three years and 10 months).

It is possible that even this time it will take less than the theoretical 1,458 days, so block number 840,000 will almost certainly be mined before 11 May 2024.

Incidentally, on the day of the first halving, the price of BTC was around $12, while on 9 July 2016 it had already risen to $663.

In May 2020 it was around $9,000, although it was still recovering from the collapse of the financial markets two months earlier due to the start of the pandemic.

The halving in itself has no direct effect on the price of Bitcoin.

However, it does reduce the selling pressure from miners, and this generally reduces the selling pressure in general.

This was more noticeable in the past when there were many mined BTCs, but as the number of mined BTCs decreases, this effect becomes less and less.

However, the reduction in selling pressure is not enough to push the price higher, so no real bull run has ever started in the days immediately following a halving.

So far, however, all three halving events have been followed by a full-blown speculative bubble that inflated the following year (2013, 2017 and 2021).

This bubble has always burst in the following year, but in no case has the price of BTC after the bubble burst fallen below the value of the previous halving.

The 2014 bear market low was reached in January 2015 at $172, a level more than a hundred times higher than the $12 of the first halving.

The 2018 low was around $3,200, or about five times the July 2016 price, and the 2022 low was $15,500, or just under twice the May 2020 price.

Halving literally means half.

Halving is the reward to the miner.

In fact, anyone who managed to mine a block was initially rewarded with 50 BTC, created out of nothing.

This means that the first 210,000 blocks created about 10 million bitcoins out of a possible 21 million.

The first halving halved this reward to 25 BTC. Block number 420,000 created a further 5.2 million bitcoins, bringing the total to over 15 million.

The second halving reduced the reward to 12.5 BTC, so that by May 2020, when block number 630,000 was mined, a total of more than 18 million bitcoins had been created.

The third halving reduced the reward to 6.25 BTC, and the fourth will reduce it to 3.125 BTC. To date, 19.4 million bitcoins have been created, and at this rate, the fateful total of 21 million will be reached by 2140.

It is clear from these figures why the halving will reduce the selling pressure on the miners, not least because they have to buy electricity to do their work, and this has to be paid for in fiat currency.

So in effect they are forced to sell a large proportion of the BTCs they collect, but as these shrink over time they end up selling less and less.

The rest is here:

The Next halving of Bitcoin - The Cryptonomist

Can Bitcoin SV recover from recent record lows? | Credit: Shutterstock

Key Takeaways

Bitcoin SV is the crypto that maintains that, by adding certain extra features to Bitcoin (BTC) blockchain, it is carrying out what the founder of the original blockchain-based currency wanted to do. At a time when the world of crypto was rocked by the news that the United States Securities and Exchange Commission was suing the Binance and Coinbase exchanges, BSV dropped to an all-time low before making something of a recovery.

But what is Bitcoin SV (BSV)? How does Bitcoin SV work? Lets see what we can find out and also take a look at some of the Bitcoin SV price predictions that were being made on 26 June 2023.

In 2017, some of the developers behind Bitcoin split from the blockchain to form Bitcoin Cash (BCH), citing the old blockchains slowness and wanting compete with other payment platforms. By 2018, however, some of the people behind Bitcoin Cash wanted their new blockchain to feature smart contracts, computer programs that automatically execute once certain conditions are met to help speed matters up.

A vote was taken, and the pro-Smart Contract tendency formed its own, new, blockchain, called Bitcoin SV, short for Satoshis Vision. In case you were wondering, it was named after Satoshi Nakamoto, the pseudonymous founder of Bitcoin.

Interestingly, the key player behind Bitcoin SV, Australian software developer Craig Wright, claims to be Satoshi.

The BSV coin supports the Bitcoin SV blockchain.

Bitcoin SV works much like Bitcoin Cash and Bitcoin. A Proof-of-Work consensus mechanism means that people solve ever more complex mathematical problems in order to add blocks to the blockchain and gain rewards, paid in BSV.

BSV can also be bought, sold, and traded on exchanges.

Lets now cast our eyes over some of the Bitcoin SV price history. Although past performance should never be considered to be an indicator of future results, knowing what BSV has done in the past can give us some very useful context if we want to either make or interpret a Bitcoin SV price prediction.

Bitcoin SV first came onto the market in November 2018, it was worth about $200, but it soon dipped, sinking to an all-time low of $36.87 before it recovered to spend much of the next two years or so experiencing peaks and troughs, reaching peaks of above $300 in 2020.

Things really kicked off in 2021, when the market flourished and BSV shot to an all-time high of $491.64 on 16 April. After that, though, there was a slump and Bitcoin SV closed the year at $121.18.

2022 was a far tougher year for BSV, with a series of market crashes rocking the coin. Following the collapse of the FTX exchange, it fell to $35.13 on 10 November before recovering slightly to close the year at $41.30, representing an annual loss of nearly 66%.

So far, 2023 has been a very bad year for BSV. The token had already sank to new depths before the market crash following Crypto.coms announcement that it was to shut its US institutional trading operations saw it reach a new all-time low of $23.30 on 10 June. After that, there was something of a recovery and, on 26 June 2023, BSV was worth about $36.10.

At that time, there were 19.2 million BSV in circulation representing the total supply. This gave it a market cap of $705 million, making it the 59th largest crypto by that metric.

Bitcoin SVs record low came against the backdrop of a market downturn sparked by the SEC suing Binance and Coinbase. On 5 June, before the announcement of the Binance case, BSV was worth $33.01, meaning that it lost nearly 30% in five days. After that, there was a recovery, which peaked on 24 June at $40.11, up more than 20% from its low.

By 26 June, it had settled down somewhat, but it was worth almost 55% more than its nadir and, encouragingly, was up nearly 10% from pre-crash levels.

Now that that is all said and done, its time to take a look at some of the Bitcoin SV price predictions that were being made on 22 June 2023. Keep in mind that price predictions, especially when they are for something as potentially volatile as cryptocurrency, have a tendency to be wrong. Also, it is worth pointing out that many long-term crypto price predictions are made using an algorithm, which means they can change at a moments notice.

First, CoinCodex had a somewhat optimistic short-term Bitcoin SV price prediction. The site said that BSV would continue to rise, shooting up to $42.64 by 1 July before its growth slowed to $43.46 by 27 July. The sites technical analysis was neutral, with 21 indicators sending bullish signals and 12 making bearish ones.

When it came to making a Bitcoin SV price prediction for 2023, DigitalCoinPrice said that the coin would perform well this year, reaching an average of $72.38. PricePrediction.net, meanwhile, said that it would be more or less where it stands now at $38.87, while CaptainAltCoin was very pessimistic, suggesting that it would crash to $15.58 in September before rising slightly to $16.84 at the end of the year.

In terms of a Bitcoin SV Price Prediction for 2025, CaptainAltCoin expressed concern for the coins future, saying that it might stand at $44.68, but that it also might collapse into being worthless. DigitalCoinPrice, on the other hand, thought BSV could be worth $117.75, while PricePrediction.net said it would trade at $82.06 in two years time.

Moving on to a more long-term Bitcoin SV price prediction for 2030, PricePrediction.net was the most optimistic, saying it could get to $742.53 by then, while DigitalCoinPrice was also bullish in its Bitcoin SV crypto price prediction for the start of the next decade, saying it would reach $374.02.

CaptainAltCoin, though, was not keen on the cryptos chances. It wrote that it could be close to zero at the start of the next decade, adding: The project offers no unique value to set itself apart from countless competitors, hence we dont think it is worth investing in this coin for the long term.

It is hard to say. Keep in mind that the coin has, within the last few weeks, sunk to an all-time low. There are two theories when it comes to dealing with cryptos in a similar position.

On the one hand, there is the argument that you should buy during the dip, because the coin could make a comeback but, on the other hand, it could be argued that it fell to a record low for a reason and that making a return to form will not be easy.

Either way, you will have to make sure you do your own research.

No one really knows for sure right now. While some BSV price predictions, such as those from DigitalCoinPrice and PricePrediction.net, are upbeat, the likes of CaptainAltCoin forecast doom for Bitcoin SV. Keep in mind, though, that price predictions are very often wrong. You should also remember that prices can, and do, go down as well as up.

Before you decide whether or not to invest in Bitcoin Cash, you will have to do your own research, not only on BSV, but also on other, similar, cryptos, such as Bitcoin itself and Bitcoin Cash (BCH). Ultimately, though, you will have to make this decision yourself. If you do decide to put your money into BSV, remember that you must never invest more money than you can afford to lose.

On 26 June 2023, there were 19.2 million BSV in circulation, representing the total supply.

It could do but, if it does, it may not get there for some time. PricePrediction.net says it will hit four figures in 2032. Keep in mind that BSVs all-time high, which it reached in April 2021, is worth less than half of that, coming in at $491.64.

BSV is used to reward miners on the Bitcoin SV blockchain, and it can be bought, sold, and traded on exchanges.

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the authors opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

Excerpt from:

Bitcoin SV Price Prediction: Will the SEC Approve BSV as Price ... - CCN.com

Yuri Molchan

Puppynet network has smashed new milestone related to rapidly growing transaction count

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Puppynet, the Shibarium testnet, which rolled out on March 11, continues to reach new milestones at a fast pace. In particular, millions of transactions have recently been added within a matter of days.

Now it has happened again, and a new milestone has been set as the Puppynet transaction count has surpassed the 25 million mark within just two days from the previous record.

The previous record was reached two days ago, when the transaction count surpassed 24 million, according to Puppyscan. Now, the total amount of transactions conducted on the Shibarium beta has hit 25,151,650 in total.

According to the chart on Puppyscan, the transactions picked up on June 13, reaching a high of 324,899. Since then, they have been going at a slightly lower level but have not been dropping below 270,000 on a daily basis.

The number of the connected wallet addresses has remained roughly the same as two days ago 16,991,117.

In a recent message published in the Shibarium Telegram channel, the leader of the Shiba Inu developer team, who goes by the pseudonym Shytoshi Kusama, banned a "fudder" for his words about the founder of SHIB, Ryoshi.

Kusama wrote that this message was the most disrespectful one he had heard in a while. A Telegram user stated that SHIB was developed by the current devs, not Ryoshi, thus bringing the permanent ban from Shytoshi on himself.

Kusama also reminded everyone that nobody shows disrespect for the creator of Bitcoin Satoshi Nakamoto, since Bitcoin has changed the world; "We are no different," he stated. As for Ryoshi, Kusama stressed his leading role in the creation of SHIB, saying that "Ryo set us on a path to decentralization and founded a project that has changed the lives of millions of people."

Kusama messaged that he had to leave an important meeting to personally ban the fudder who insulted the mysterious Shiba Inu creator and ideologist.

Read more:

Shibarium Hits Big New Milestone Within Two Days: Details - U.Today

Blockchain and Cryptocurrency: Understanding the Connection

Blockchain and cryptocurrency are two terms that have become almost synonymous in recent years. While they are closely related, it is important to understand the connection between them and how they differ. Blockchain is the underlying technology that powers cryptocurrencies, while cryptocurrencies are digital assets that utilize blockchain technology for various purposes, including secure and transparent transactions.

Blockchain is a decentralized, distributed ledger technology that allows data to be stored across a network of computers. This means that instead of relying on a central authority, such as a bank or government, to validate and record transactions, the responsibility is shared among the participants in the network. This decentralization helps to increase security, as it makes it much more difficult for a single entity to manipulate the data or gain control of the network.

The concept of blockchain was first introduced in 2008 by an individual or group of individuals using the pseudonym Satoshi Nakamoto. It was initially created as a solution to the double-spending problem, which is a potential flaw in digital currencies where the same digital token can be spent more than once. This issue arises because digital information can be easily replicated, making it difficult to ensure that a digital token has not already been spent. Blockchain technology solves this problem by creating a transparent and immutable record of all transactions, making it virtually impossible to double-spend a digital token.

Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on a decentralized network, such as a blockchain. The first and most well-known cryptocurrency is Bitcoin, which was created by Satoshi Nakamoto in 2009. Since then, thousands of other cryptocurrencies have been developed, each with its unique features and use cases. Some of the most popular cryptocurrencies today include Ethereum, Ripple, and Litecoin.

One of the primary reasons cryptocurrencies have gained popularity is their potential to revolutionize the way we conduct financial transactions. Traditional financial systems rely on intermediaries, such as banks and payment processors, to facilitate transactions. These intermediaries often charge fees and can slow down the transaction process. In contrast, cryptocurrencies enable peer-to-peer transactions without the need for intermediaries, which can result in faster and cheaper transactions.

In addition to their use as a medium of exchange, cryptocurrencies can also serve as a store of value and a unit of account. This has led some people to view them as an alternative to traditional currencies, such as the US dollar or the euro. However, the value of cryptocurrencies can be highly volatile, which has raised concerns about their suitability as a stable store of value.

Despite the potential benefits of cryptocurrencies, they have also faced criticism and regulatory scrutiny. Some critics argue that the anonymity provided by cryptocurrencies can facilitate illegal activities, such as money laundering and the financing of terrorism. Additionally, the energy consumption required to maintain the blockchain networks of some cryptocurrencies, particularly Bitcoin, has raised environmental concerns.

In conclusion, the connection between blockchain and cryptocurrency lies in the fact that cryptocurrencies are built on the foundation of blockchain technology. Blockchain provides the decentralized, secure, and transparent infrastructure that enables cryptocurrencies to function as digital assets and potentially transform the way we conduct financial transactions. While cryptocurrencies have faced challenges and criticisms, their continued growth and adoption suggest that they are likely to play an increasingly significant role in the global financial landscape. As the technology continues to evolve, it will be fascinating to see how blockchain and cryptocurrencies shape the future of finance and other industries.

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Blockchain and Cryptocurrency: Understanding the Connection - CityLife