⭐ Features George Shnurenko

What is Bitcoin Halving and When Next Bitcoin Halving Occurs

⭐ Features
Why a means of limiting the supply of Bitcoin at any given time is required
What is Bitcoin Halving and When Next Bitcoin Halving Occurs
something-wide

When Satoshi Nakamoto created Bitcoin in 2009, his plan was to ensure that the creation and distribution of Bitcoins did not rest solely on the shoulders of a select few. The concept of Bitcoin mining was introduced to put this in action. Before we can even attempt to understand Bitcoin halving, it is important for us to dissect Bitcoin mining and what it entails.

What is Bitcoin mining?

Bitcoin mining involves reward for those who, through computational work, verify and authenticate new transactions into blocks. In essence, Bitcoin mining is the process behind the creation of new currencies and it is all about adding a transaction to Bitcoin’s public ledger. This ledger, because it comprises chains of blocks, is referred to as a Blockchain.

So, Blockchain mining, in essence, is a record-keeping activity and it is executed by miners. These miners ensure that the blockchain is uniform throughout, up to date, and immutable. In return, these miners are offered a certain amount of newly created coins.

💼 Related Article
WikiCoin: How to Join a Mining Pool
🔥 Hot
11 months
256
WikiCoin: How to Join a Mining Pool

What is Bitcoin halving?

Now that the reward offered to Bitcoin miners is well understood, we can move on to what Bitcoin block halving is all about. Satoshi Nakamoto in his really sophisticated code programmed the Bitcoin such that after two hundred and ten thousand (210,000) completed blocks, the amount of new Bitcoins created is halved.

Check the Bitcoin halving history and you will observe a peculiar pattern. In 2009 when Bitcoin was newly launched, the reward for miners was capped at 50 Bitcoins per block. In November 2012, after almost four years, the reward reduced by half to 25 Bitcoins per block. This period was officially known as the second reward era.

Bitcoin halving schedule is such that every four years, the event occurs. Even though Bitcoin halving occurs after 210,000 blocks have been completed, it is possible to estimate an arbitrary date.

The third reward era of Bitcoin mining occurred in July 2016 and the reward for miners was reduced to 12.5 Bitcoin per block. This will continue for years until the year 2140 when all the 21 mln Bitcoins in store have been exhausted.

Why d w have Bitcoin halving events?

This is a very important question to ask, especially for miners. This is enacted to ensure that Bitcoin is in concordance with the laws of supply and demand. A perfect illustration is the monetary supply governing the distribution of fiat currencies in central banks.

A new Bitcoin is created based on certain features of the currency which are pre-programmed into the system. With a fiat currency, there are various factors involved. One major discrepancy is the consideration given to debt, inflation, and other factors.

This is why a means of limiting the supply of Bitcoin at any given time is required.

💼 Related Article
Where to Spend Your Crypto Earnings in 2018
🔥 Hot
9 months 1 week
256
Where to Spend Your Crypto Earnings in 2018

Implication of Bitcoin mining event

  • Reduction in rewards

Considering the fact that many of these miners rely solely on the reward they get, further Bitcoin halving might have less than desirable effects. One major reason for this is the rigidity of Bitcoin and the maximum allowable coins in circulation. Adding these new blocks at a reduced price without a concomitant increase in the transaction fees or the value of Bitcoin they earn might cause bankruptcy.

  • Stiff competition for mining

Bitcoin mining event means that the amount of Bitcoins being mined are steadily increasing and sadly, this means that we have lesser Bitcoins to mine. Within a short while, the competition will become fierce and transactions will take more time. In the event where miners do not shut down out of lack of activity, we can expect the scarcity to engineer an increase in the price of Bitcoins.

  • Decreased popularity of mining

Some companies are already feeling the brunt of Bitcoin halving. In 2016, KNC Miner, a Bitcoin mining company in Sweden, declared bankruptcy and their major reason was the imminent Bitcoin halving event.

Another report declared that about 25 percent of mining rigs will be affected by the net halving event. As it becomes increasingly expensive to mine, large-scale mining setups will reduce and this will make profitability almost impossible, dissuading new investors.

💼 Related Article
20 Best Bitcoin Cloud Mining Sites in 2018
🔥 Hot
9 months 3 weeks
256
20 Best Bitcoin Cloud Mining Sites in 2018

When is the next Bitcoin halving event?

Presently, miners are rewarded with about 12.5 Bitcoins for completing a block and 2500 transactions make up a block. Sometime in May 2020, the next Bitcoin halving event will occur and this will cause the reward to further reduce to 6.25 Bitcoins per block.

💼 Related Article
Institutional Investment in Crypto: Interview with LGO Markets’ Hugo Renaudin
🔥 Hot
8 months 4 weeks
256
Institutional Investment in Crypto: Interview with LGO Markets’ Hugo Renaudin

Expectations from the Bitcoin mining event

Bitcoin halving countdown comes with some certain expectations. Some of them are listed below.

  • A decline in has rat might be imminent

The hash rate is the speed at which a computer completes a transaction in the blockchain network. Before the last Bitcoin halving, the hash rate was estimated to be 1.54 exahashes per second and it was tipped to reduce even further. This is due to the fact that some older equipment which are no longer seen as profitable will leave the network and this will, in turn, result in a decline in the network hash rate.

  • The Bitcoin price will drop and then rise

While it is normal that those investors who pumped loads of funds into Bitcoin will be looking to cash out, the apprehension surrounding Bitcoin will subdue and will cause a renewed interest in the currency. The law of demand and supply will set in, correcting the previous fallacy and the new purchase will not negatively impact the currency.

Four-year rule

It will not take long for us to come up with justifications for the increase in price and adoption and this is not unexpected. It has occurred twice now and the third time won’t be an exception. Questions like “What is Bitcoin halving?”, “Is Bitcoin halving necessary?” are now well addressed. Also, the Bitcoin halving schedule can be estimated based on the four-year rule.

💼 Related Article
Best Cryptocurrency to Mine: What Cryptocurrency to Mine in 2018?
🔥 Hot
9 months 2 weeks
256
Best Cryptocurrency to Mine: What Cryptocurrency to Mine in 2018?

Subscribe to U.Today on Twitter, and get involved in all top daily crypto news, stories and price predictions!
⭐ Features
469 views views
👓 Recommended articles
⭐ Features Stavros Georgiadis

Tron Price Prediction 2019 – A Bottom at $0.0255 Has Formed. Will It Last in February?

⭐ Features
Tron (TRX) has a 1-year performance of about -34%, which is much better compared to the collapse of prices of other cryptocurrencies
Tron Price Prediction 2019 – A Bottom at $0.0255 Has Formed. Will It Last in February?
something-wide

Tron Price Prediction 2019 – A Bottom at $0.0255 Has Formed. Will It Last in February?

Tron (TRX) has a 1-year performance of about -34%, which is much better compared to the collapse of prices of other cryptocurrencies. In fact, Tron has a year-to-date performance of +35.94%. In this article we will mention some Tron price prediction ranges from various sources, plus we will make our own Tron price prediction for February 2019 based on our technical analysis. Some key stats for Tron as of Feb. 2, 2019 are the following:

  • Price of Tron (TRX) is $0,026339
  • Market Cap: $1.755.963.777 USD, 503.847 BTC
  • Volume (24h): $200.614.221 USD, 57.563 BTC 
  • Circulating Supply: 66.666.917.581 TRX
  • Total Supply: 99.266.129.237 TRX
  • Rank 8 on CoinMarketCap based on top 100 cryptocurrencies by market capitalization

Tron price prediction February 2019 based on various sources

What are some Tron price prediction opinions?

  • WalletInvestor is pessimistic about the price of Tron in the long-term, but according to its forecast trend line the price of Tron may be above $0.030 in February 2019. It has a Tron price prediction for the next 14 days as $0.0331 USD to the upside and $0.0256 to the downside.
  • PrevisioniBitcoin is bullish on Tron, estimating that it will have a minimum price of $0.030 in February 2019.
  • CoinFan makes the following Tron price prediction range. A minimum price of $0.051126476 and a maximum price of $0.069171114. This seems to be a very optimistic price forecast as the minimum price is almost 96% above the current price of about $0.02633 as of February 2, 2019.
  • DigitalCoin only provides as a forecast the price of $0.03284536.
  • ExpressTricks has a Tron price prediction of $0.50 for February 2019, another very optimistic forecast.
  • CryptoGround is on the other side of forecasts, with a conservative Tron price prediction of $0.0270 for a time period of one month, a return of +1.79%.

Tron price prediction based on technical analysis

What does the weekly and daily chart for Tron tell us trying to make a forecast for February 2019? We will examine the two charts, trying to make an unbiased Tron price prediction for February 2019.

Tron price prediction based on weekly chart
Tron price prediction based on weekly chart
Tron price forecast based on daily chart
Tron price forecast based on daily chart

The two scenarios, the optimistic and the pessimistic ones, bullish and bearish for the price of Tron in February 2019 can provide some possible ranges.

Tron price February 2019 prediction bullish scenario

A very positive note is that both on the daily and weekly chart there is a trend shift from downward to upward. On the daily chart the price made a bottom around the level of $0.011, retested the low level of $0.012 and made a nice rally up to the level of $0.036 on January 10, 2019.

The price of $0.0257 as of Feb. 10, 2019 is above the 50-day and the 20-day exponential daily moving averages. The fact that both these moving averages are trending up is positive for the price of Tron. It means buying pressure. On the weekly chart the MACD indicator is trending up, and its histogram is positive, Momentum indicator is rising, and price is above the 50-period and 20-period exponential moving averages.

Switching back to the daily chart, the ADX/DMI indicator shows a strong trend and the +DI line is above the -DI line, with values of 25.41 and 20.20 respectively. A first target price is the upper daily Bollinger band at $0.029. Next potential targets would be the high prices of $0.0312 and the recent high price of $0.036.the 20-day exponential moving period with a value of $0.026, where current price of Tron is now, should provide a strong support.

Tron price prediction February 2019 bearish scenario

On the weekly chart the level of $0.0296 is a very strong resistance. Other strong levels od resistance are $0.0279, and $0.0288. On the daily chart the MACD indicator has made a bearish crossover, the Momentum indicator has lost its upward direction and now is pointing down, and there are strong levels of resistance at $0.0264, $0.027 and $0.0275. If the current uptrend is to pause and reverse, then possible targets are $0.0243, $0.0237 which coincides with the 50-day exponential moving average and then $0.022.

Traders should monitor the trendline that extends from the low price of $0.0127 on Jan.10, 2019 to the high price of $0.0263 as of Feb. 2, 2019. If this trendline does not hold as support, then lower prices are very likely.

For February 2019 we prefer the bullish scenario, as odds are for now in favor of it. As always it is not an investment recommendation, just an analysis and a forecast.

Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!
⭐ Features
2940 views views
👓 Recommended articles
⭐ Features Yuri Molchan

Is Tron Merely Another Pump and Dump Project? An Interview with Crypto Chico, ‘Truth Lover’ and ‘I-Dotter’ Regarding Crypto Projects

⭐ Features
Tyler Swope, also known as Crypto Chico, shares his personal vision of the Tron project on the particular case of the BTT ICO that happened on Binance the other day
Is Tron Merely Another Pump and Dump Project? An Interview with Crypto Chico, ‘Truth Lover’ and ‘I-Dotter’ Regarding Crypto Projects
something-wide

On Wednesday, Jan. 30, Tyler Swope, nicknamed Crypto Chico, published a YouTube video claiming Tron and Binance plotted to grab some money by launching the BTT token on Binance Launchpad. U.Today prepared a news story, reporting this untypical point of view regarding Tron, Binance and their CEOs.

We have gotten in touch with Tyler Swope and asked him to clarify his position regarding Tron and their marketing strategy in particular.

‘I swear to tell truth, the whole truth and nothing but the truth’

U.Today: Why are there so many crypto communities on Twitter who have a negative opinion about you?

Tyler S.: They have negative opinions on me cause I tell the truth of what goes on in crypto, and the truth hurts the most.

‘Tron is nothing but a pump and dump scheme’

U.Today: Tron has been making a lot of progress recently, having taken on several big games, including TronGoo (formerly EtherGoo) and MMORPG KuaiXiYou. It has managed to advance from beyond the top-ten list of crypto assets inside it pretty quickly, raising its market cap.

On dappradar.com many of the top ten dApps, those that show a great cash flow, are Tron-based, and none are powered by its rival Ethereum, for example.

Is Tron Merely Another Pump and Dump Project? An Interview with Crypto Chico, ‘Truth Lover’ and ‘I-Dotter’ Regarding Crypto Projects

Still, in the video about BitTorrent you poured some harsh criticism on Tron and Binance, along with their CEOs. What is the reason you are publicly criticizing those projects?

Tyler S.: Because it was an obvious pump and dump, marketing ploy and I would like the public to know this.

💼 Related Article
Ex-Tron (?) Employee: Justin Sun and Binance’s CZ Pumping TRX, BNB on Fake BTT ICO
🔥 Hot
2 weeks 6 days
256
Ex-Tron (?) Employee: Justin Sun and Binance’s CZ Pumping TRX, BNB on Fake BTT ICO

‘Justin Sun is no relative of mine’

U.Today: How are you connected with the Telegram channel ‘TRON (TRX) Announcements’, which posted a link to your video and claims that they know what indeed is happening with Tron?

Tyler S.: I have no connection to them and never heard of them before in my life before 30 January 2019.

‘Crypto market is irrational’

U.Today: What do you think the future of Tron is, in light of your video regarding the BTT ICO? Does it have any chance of reaching the list of the top-four coins in 2019, as Justin Sun promised?

Tyler S.: No, I don't believe it does, but who knows, this market is irrational.

‘Deceptive marketing tactics’

U.Today:  How can Tron be so popular with the community and dApp developers if you claim that Tron’s code contains a great number of bugs?

Tyler S.: They used deceptive marketing tactics and any good developer is not building on Tron. I used open source tools SonarCloud and SonarQube, you can check for yourself.

image

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
⭐ Features
802 views views
👓 Recommended articles
⭐ Features Darryn Pollock

Bitcoin Obituaries Keep Rising But Why Is Bitcoin Still Not Dead?

⭐ Features
Bitcoin has been pronounced dead multiple times in its 10-year life; its recent fall brought about another obituary, but why is it that Bitcoin is NOT dead?
Bitcoin Obituaries Keep Rising But Why Is Bitcoin Still Not Dead?
something-wide

A popular site called 99Bitcoins keeps a close eye on the number of times that Bitcoin has been declared dead in the mainstream media. Currently, it has accrued 336 obituaries for the digital currency.

The latest drop in the price of Bitcoin, which took it from the mid-$6,000 mark down to near on $3,000, sparked fresh panic and capitulation as many believed that the cryptocurrency had had its last days.

There were concerns over its utility and usefulness, as well as the potential for a so-called death spiral in the mining of Bitcoin as many miners shut up shop. Yet, Bitcoin continues to exist, and at time of writing, has bounced back to over $4,000.

So what is it that is keeping Bitcoin alive? It has no CEO, no company headquarters, and because of its decentralised nature, has no one to drive it to keep it alive; it relies solely on those who are interested in it.

The underlying blockchain

Bitcoin, or cryptocurrencies in general, have a very special relationship to their underlying technology, blockchain. They are of course dependent on each other to operate, but they also move independently of each other in many respects.

Blockchain is advancing in a very different path to that of Bitcoin, but it was Bitcoin’s initial explosion in the mainstream financial space that made people take blockchain seriously.

Now that the cryptocurrency bubble has essentially burst, there is a lot less hype and interest in it. However, blockchain, the technology behind it all, is getting a chance to come out and shine for its technological reasons alone.

💼 Related Article
The Blockchain Market Continues to Expand: Predictions for the Near Future
🔥 Hot
3 months 1 week
256
The Blockchain Market Continues to Expand: Predictions for the Near Future

For this reason, Bitcoin is still very much relevant. Blockchain progression is building steadily, and solidly, and because of its adoption across all centres, people still appreciate the usefulness of a digital token.

Bitcoin, as the major digital token that encapsulates all the main points of cryptocurrency and blockchain — such as decentralisation and transparency, and of course distribution — is the epitome of a functioning token economy.

Manageable mining

Another reason why Bitcoin hasn’t totally capitulated is because of its built in mining difficulty adjustment. Many people feared that Bitcoin could go under if the miners, an important part of any proof-of-work cryptocurrency, decided to abandon Bitcoin because of the increased difficulty and the loss of profitability.

Indeed, when the price dropped significantly in November, many miners did shut down and the hash rate also fell. But, because Bitcoin has a built in adjustment, the lower hash rate caused the mining difficulty to increase, and thus caused profitability to increase again, enticing miners back.

With more miners mining, there was increased health and activity on the blockchain, which leads to better interest and investment in the markets. This, in turn and in a compound way, then helps boost the price and drive more miners back in, again increasing profit and price.

Shedding the speculators

There is also a big difference between a burst speculative bubble and the death of a market. Some markets can be destroyed by the bubble pop, but in the case of Bitcoin, it is mirroring the dot com bubble because it has a similar nature.

With its underlying blockchain equitable to the internet, and the ICO hype and other factors equitable to Dot Com companies, one can see that this type of burst bubble is a chance for Bitcoin to shed its foolish speculative investors, and allow for those who are serious and successful to rebuild the market based on the important technology underneath.

Bitcoin will continue to be called dead, and erroneously so because it has only hit the mainstream in the last 18 months or so.

However, if one is to zoom out a bit, one would see that an investor who bought Bitcoin two years ago rather than, say, one year ago, would still be over 300 percent up on their investment.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
⭐ Features
667 views views
👓 Recommended articles
⭐ Features Guest Author

GameCredits Bittrex Review: The Detailed Guide for Beginners

⭐ Features
GameCredits (GAME) is an in-game payment platform that is poised to become a major disruptor in the multibillion-dollar gaming industry
GameCredits Bittrex Review: The Detailed Guide for Beginners
something-wide

GAME (a.k.a. GameCredits) is an innovative cryptocurrency that has been very popular within the international gaming community. Thanks to the recent strategic partnerships with Microsoft and Xsolla, the team behind GAME crypto managed to achieve the incredible leap in promotion of this cryptocurrency.

Why should you exchange GameCredits on Bittrex?

There are so many exchange services out there. Why should you use the services of Bittrex in order to exchange or trade your GAME coins? The main advantage for beginners — Bittrex has never been hacked unlike other large platforms. Since 2017 all user accounts of this U.S. exchange service are solidly protected.

Also, this project implements the multi-level wallets strategy. About 90% of customer funds are stored offline. 2-factor authorization is offered for users (in particular, for withdrawal of their funds from wallets). If it is not activated, the exchange sets certain limits on withdrawals.

Features of Bittrex for GAME users

Bittrex offers a modern trading platform that is always accessible offline. If you type GAME in the search field on the main page, you will instantly see the chart with prices changing in real time. For example, currently (5th December 2018) you may see that the price of 1 GAME in the pair USD/GAME on Bittrex is $0.07.

Below the chart is a window with platform’s apps. The platform is designed for both beginners and experienced traders. You may check the possibility of a thorough technical analysis of any assets using technical indicators is implemented.

By default, an algorithm for calculating volumes is set straight on the chart of GAME/USD and GAME/BTC. The site features 450 currency pairs traded with Bitcoin. There are quite good trading opportunities with both BTC and ETH for GAME owners.

However, Bittrex does not have currency pairs with fiat money. Buying Bitcoin, Ethereum or Tether is possible by bank transfer. In order to use this service, you must pass the account verification. Traders have the opportunity to open different types of orders.

For example, they can buy GAME and other available assets at the market price or choose pending orders for the purchase of a particular cryptocurrency at the desired value. The only drawback - Bittrex does not offer any margin trading.

Deposit and withdrawal of GAME funds of the Bittrex exchange provides wide opportunities for those who want to replenish their account and withdraw money from it with GAME cryptocurrency. Two stages of verification actually mean that the base level is the inclusion of 2FA and filling in the "About me" fields. To withdraw more money (more than 4 BTC), full verification is required.

Currently, there are two types of accounts on Bittrex:

  • Basic. Users provide name, address of residence, indicate the date of birth. This data is verified through open sources (social networks, for example). However, if security officers of the company fail to verify the information, more detailed verification will already be required with the participation of the user;

  • Advanced. To open such accounts, the user must provide scanned copies of identification documents along with a selfie attached;

How to buy and sell GAME on Bittrex?

According to almost any user’s review of GameCredits on Bittrex, the website offers the opportunity to trade market and limit orders. The first allows you to buy a cryptocurrency at the current price at which it is offered on the market.

Let’s suppose, GAME coin is worth $1. A user wants to buy it and is ready to pay that price. In this case, he chooses a market order, enters the volume of the transaction and presses the “Buy” button. If the user already has bitcoins and he wants to sell them, at the same time, the current price on the market fully suits him, this can also be done by placing a market order, only for sale.

Fees for services here are considered average for the global market. Bittrex charges 0.25% commission for all transactions. At the same time, payments from traders can be reduced depending on the time of the user’s trading status.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
⭐ Features
205 views views
👓 Recommended articles
⭐ Features Joseph Young

Gov’t of India Reportedly Plans to Regulate Crypto, What’s the Motive?

⭐ Features
The government of India is exploring the possibility of legalizing crypto and regulating exchanges
Gov’t of India Reportedly Plans to Regulate Crypto, What’s the Motive?
something-wide

Several local publications have reported that the government of India is exploring the possibility of regulating crypto.

At an official government meeting hosted by the interdisciplinary committee, a task force led by members of the Ministry of Economics and information Technology and the Ministry of Home Affairs, the committee ruled in favor of regulating cryptocurrencies with strict policies.

Sudden Change in Stance Toward Crypto

In April, the Reserve Bank of India (RBI) imposed a blanket ban on cryptocurrency trading, prohibiting the country’s financial institutions from dealing with cryptocurrency-related businesses.

The unexpected ban on cryptocurrency exchanges implemented by the country’s central bank effectively disallowed trading platforms from obtaining banking services from local financial institutions.

Several exchanges tried to pivot to cryptocurrency-to-cryptocurrency trading but with the dominance of Binance, OKEx, Huobi, and other crypto-only exchanges, local digital asset trading platforms failed to compete and shut down their businesses.

At the time, the RBI threatened to end its relationship with any local bank that deals with digital asset exchanges. A circular released by the central bank read:

“In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling VCs (virtual currencies). Regulated entities which already provide such services shall exit the relationship within a specified time.”

In July, industry leaders, associations, and companies challenged the controversial decision of the RBI by filing a complaint with the Supreme Court of India. Within several months after the filing, the court ruled in favor of the RBI, allowing the central bank to impose a ban on cryptocurrency trading.

💼 Related Article
Merry Christmas from Ripple and Binance: XRP as Quote Currency
🔥 Hot
1 month 3 weeks
256
Merry Christmas from Ripple and Binance: XRP as Quote Currency

However, on December 26, a senior government official told The New Indian Express in an interview that the government believes cryptocurrencies cannot be dismissed as illegal currencies and the asset class has to be regulated with strict policies.

“We have already had two meetings. There is a general consensus that cryptocurrency cannot be dismissed as completely illegal. It needs to be legalised with strong riders. Deliberations are on. We will have more clarity soon,” the official said.

The change in the stance toward cryptocurrencies from the government of India likely comes from its acknowledgement of the risk in unregulated cryptocurrency trading. By placing a ban on digital asset exchanges, it forced investors out of a self-regulated market to unregulated peer-to-peer and over-the-counter markets that are difficult to regulate and monitor.

If the intent of the government is to prevent money laundering through the usage of cryptocurrencies, a more effective way of doing so is to allow cryptocurrency trading on exchanges with strict Know Your Customer (KYC) and Anti-Money Laundering (AML) systems in place.

When Could It Take Place?

Many reports were released in the past anticipating the legalization of cryptocurrencies by the government of India. Yet, the government showed no signs of regulating the asset class in the past 12 months.

With the G20 agreeing to regulate cryptocurrencies to crack down on money laundering, India, which is a part of the G20, could follow the global trend of regulating the asset class.

Given the history of India in the cryptocurrency sector, it may take several months to potentially years before cryptocurrency trading is revitalized and completely legalized with stable banking services provided by local financial institutions.

Subscribe to the official U.Today Telegram channel. Get news first!
⭐ Features
245 views views
👓 Recommended articles