With the current block time, the next #bitcoin halving will be in 251 days👀
Aka. November
Discussion
I thought they say its on May 2024?
Where does the sudden speed-up come from?
When these halvings happened where do the Bitcoin goes?i mean are they distributed among users?miners?node runners?if not bought?
I dont understand your question, can you explain in more detail?
I mean from the 1st 50×900×4years?and so on,now its 6.25 then it will be 3.14?Are all these Bitcoin being mined and sold?
Yes, most of them are sold by the miners.
Most of them?okay,what about the rest?aren't there any left overs or something?and what had caused to speed up the date?
The miners get the #bitcoin they mine. So every block, there is generated 6.25 new coins, given to the miner (miners, because they often mine together in pools).
The miners have costs on their operations, so to pay their bills, they often sell their coins.
So those miners who do not sell, they hold their coins.
The halving is set to be every 210.000th block. On average the block time (time to create a new block) is 10 minutes. But as the total hash rate goes up and down, the block time can vary.
At the time i wrote this post, there had been 10 blocks the last hour. With that speed the halving date would come earlier.
Smart AF, satoshi fixed this with a difficulty adjustment.
So every 2016th block, the difficulty of creating a block adjusts based on the hashrate.
It’s the supply issuance/ mining reward which is halved. This means less Bitcoin entering circulation per block mined.
Difficulty adjustment will sort that
Yes. Only 475 blocks until next🔥
That would be a surprise to many