Bitcoin Block Halving In 3 Days
At current rate, between 3-4 days from now the mining reward will reduce from 6.25 BTC per block solved to 3.125 BTC per block, effectively making new bitcoin creation 50% less until the next halving.
Nerd alert… this update is a currency-centric needed nerd out.
As I see it, even those who have been on the sidelines, undecided, or even on the wrong “side” of things outright have an opportunity to atone and join the community anew before the block halving — a once every four year event hard coded into Bitcoin’s core software.
After this month’s halving, experts say that Bitcoin will become “harder” than gold: meaning its inflation rate will be less than the annual production of new gold found through exploration and mining efforts.
In a time of runaway inflation in food costs and housing, and the uncertainty of multiple wars looming abroad, a hard money used by BlackRock, Fidelity, and even whole nation-states like El Salvador etc etc etc … such an exotic and peculiar community finds new purpose in this era, I’m proposing here.
How wild is it that in only months (the US ETFs launched just in January), Bitcoin rocketed to the 7th or 8th largest asset on planet Earth when compared against public company valuations, sovereign/royal holdings, etc. In months, it achieved what it took the gold ETFs several years to accomplish in terms of market breadth and value.
When you peruse BlackRock’s ETF page and sort by commodity ETFs they offer, their Bitcoin Trust is now second only to gold — and above their silver ETF — in terms of current holdings value. Wild to think about. This new asset class has found its footing.
In a life of research and ruthlessly independent thinking, one of the only things I’ve truly gotten right at every level and in every way has been Bitcoin.
I hold some precious metals, and some Litecoin (which runs on a truly different algorithm from Bitcoin) in the rare but possible event that Bitcoin’s source code becomes politically compromised — a backdoor from a nation-state etc etc etc — or if researchers in the future discover sha256d isn’t immune to quantum computation attacks (which don’t really exist yet) — Litecoin’s use of Scrypt (pronounced s-crypt, not “script”, fyi) is distinctly different enough in my view that it really is a kind of silver to Bitcoin’s metaphorical digital gold.
PayPal/Venmo/Robinhood etc etc etc provide users easy access to Litecoin, and
Grayscale has its Litecoin Trust out there in the grown up markets.
But keep in mind Litecoin is my insurance policy against the very unlikely event of Bitcoin failure.
Let’s be clear… I think Bitcoin may succeed wildly from here.
Whether it is 0.01 BTC or 0.1 BTC or a million BTC, the stack held becomes a man’s fortress, and his vote against this increasingly nonsensical, over regulated, over policed, over politicized era we find ourselves in here.
Dollar maximalism is the party of Joe Biden. And John Podesta. And P Diddy. And the late Jeffrey Epstein; as far as we know, he never touched a bitcoin even once — it was after his era.
Dollar maximalism is the team of pandemic lockdowns, corporate handouts, property seizures, and unconstitutionality — it’s the dark side.
Don’t go to the dark side.
We all stand together, or we don’t stand at all.
72 hours or so for everyone to get their stack before the block halving forever alters the supply dynamic.
I also think Don Trump stands to win the US presidential election. His recent experiences with crypto have been thankfully pleasant, and profitable for him. He seems entertained by it and has expressed a provocative tolerance for Bitcoin that wasn’t there (or at least was never stated) in his last administration. People change.
I’ll return to covering other topics … the weird weather, yesterday’s close asteroid passby that leaves some questions unanswered … very soon.
But the halving won’t come again until 2028. It’s a cool moment.
Onward,
D
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