sell btc to paypal usd Takes Toll on Bitcoin Halving, but Won’t Steal the Show
While miners took a double hit, the combination of the pandemic and halving could provide an unlikely tailwind to the crypto industry at large.
Normally, little is unexpected concerning the regular, pre-programmed adjustment of the Bitcoin network’s mining reward size, otherwise known as halving. Baked into the digital currency’s original protocol, the anti-inflationary mechanism gets triggered once every 210,000 blocks mined — or roughly every four years — providing all the interested parties with ample notice and time to buckle up.
Throughout Bitcoin’s (BTC) rather short history, halvings invariably foreshadowed massive rallies in crypto markets. The upcoming event, however, is unprecedented, as it will take place in the middle of a crisis that has affected just about every aspect of the global economy. How did the coronavirus-induced disruption play out in various sectors of the crypto industry, and what difference will it make for its pre- and post-halving state?
But the inflation created to make negative rates possible will hurt wage earners too, plus the overall economy will be less productive and living standards will be lower as a result.
There are no physical bitcoins(but maybe will be in the future) only balances kept on a public ledger than everyone has transparent access to, that – along with all sell Bitcoin to credit card usd transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity