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ZFRKHN

@zfrkhn

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Just minted my King of the Jungle on Base by Warpcast https://www.warpcast.com/~/frames/launch?domain=mint.warpcast.com
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What's up with Farcasters, Any new build which I should know of?
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GM FARCASTER
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Lessons learnt:- The thing is I wanted quick money in Crypto, that's what all newbies think and invest in Crypto, full of thrills along the way.
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GM Human on Planet EARTH 🌎
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Good Morning Phaverians
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Waddup Community
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Greta Great News to be believed and doing trust in $SOCIAL
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SOME GREAT INFORMATION ABOUT BTC HALVING
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I sincerely enjoy being here with Farcasters 🤪😇
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GM, ONLY HUMANS CAN INTERACT TO THIS POST 🤪
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Bitcoin's Price and Demand Bitcoin has attracted the attention of retail and institutional investors, increasing demand fueled by increased media coverage, investing "experts," and business owners touting the value a bitcoin has and will have. Bitcoin has also become popular in countries with high inflation and devalued currencies, such as Venezuela. Additionally, it is popular with those who use it to transfer large sums of money for illicit and illegal activities. This means that shrinkage in future supply has coupled with a surge in demand to fuel a rise in price. However, bitcoin's price still fluctuates in alternating periods of booms and busts. For example, a run-up in bitcoin's prices in 2017 was succeeded by a prolonged low, then two sharp increases and downticks through 2021. In 2024, its price soared to more than $75,000 on one exchange after the Securities and Exchange Commission approved several Bitcoin Spot ETFs, a result of an increase in demand.
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FAST FACT:- The Bitcoin block reward is reduced about every four years. This is called a halving, where the number of coins given as a reward for successfully mining a block is cut in half. The last halving was on April 19, 2024, which brought the block reward to 3.125 bitcoin.
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Effects of Supply on Bitcoin's Price The supply of an asset plays a vital role in determining its price. A scarce asset is likelier to have high prices, whereas one available in plenty will have low prices. Bitcoin's supply is generally well-publicized, as there will only ever be 21 million produced and only a specific amount created per year. Its protocol only allows new bitcoins to be rewarded at a fixed rate, and that rate is designed to slow down over time. Therefore, Bitcoin's future supply is dwindling, which adds to demand. This is similar to a reduction in corn supply if harvests were to be reduced every four years until no more was harvested, and it was publicly advertised that it would happen—corn prices would skyrocket.
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How Is Bitcoin’s Price Determined? Bitcoin's price changes because of its supply, the market's demand, media and news, and regulatory changes. Some research suggests that the cost of producing a bitcoin also influences its prices, but most reports used assumed data rather than facts. Bitcoin is not issued by a central bank or backed by a government; therefore, the monetary policy tools, inflation rates, and economic growth measurements that typically influence the value of a currency do not apply to Bitcoin.
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The Bottom Line A Bitcoin halving cuts the rate at which new Bitcoins are released into circulation in half. The rewards system is expected to continue until 2140, when the proposed limit of 21 million bitcoin is theoretically reached. In 2009, the reward for each block in the chain mined was 50 bitcoins. After the first halving, it was 25, 12.5, and then 6.25 bitcoins on May 11, 2020. The reward was reduced to 3.125 when the latest halving occurred on April 19, 2024. Bitcoin halving has significant implications for its network. For miners, the halving event may result in consolidation in their ranks as individual miners and small outfits drop out of the mining ecosystem or are taken over by larger players.
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What Happens When Bitcoin Is Halving? The term "halving" as it relates to Bitcoin concerns how many tokens are rewarded—the amount is cut in half. This acts to simulate diminishing returns while increasing scarcity, which is intended to raise demand. What Are the Bitcoin Halving Dates? Halvings have occurred on the following dates: Nov. 28, 2012, to 25 bitcoins July 9, 2016, to 12.5 bitcoins May 11, 2020, to 6.25 bitcoins April 19, 2024, to 3.125 bitcoins Mid-2028, to 1.5625 bitcoins
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Should You Invest in Bitcoin During a Halving? Many investors have high expectations for halvings because, in the past, prices generally trended upward after the event. However, the trends historically moved slowly, over months and years until the next halving, and there is no guarantee that Bitcoin will follow the same trajectory. So, whether you invest in Bitcoin before, at, or after a halving depends on market conditions at the time, your outlook, and your risk tolerance level. For instance, the latest halving was unique among halvings in that Spot Bitcoin ETFs were approved by the SEC only a few months before the event. Investors and speculators flocked to these new ETFs or moved capital from the once-popular Bitcoin ETF Trusts to them. It seems that, at least for the foreseeable future, the only thing anyone can do is make a wild guess as to what the market will do.
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When Is the Next Bitcoin Halving? The next halving is expected to occur in 2028 when the block reward will fall to 1.625 BTC. The first Bitcoin block reward was 50 bitcoin. There have been four halvings since 2009. These halving dates were: Nov. 28, 2012, to 25 bitcoins July 9, 2016, to 12.5 bitcoins May 11, 2020, to 6.25 bitcoins April 19, 2024, to 3.125 bitcoins As of May 2024, about 19.7 million bitcoins were in circulation, leaving just around 1.3 million to be released via mining rewards.
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