Plans made based on bitcoin halving are a very specific and well-organized process. The bitcoin halves have to do specifically with mining and the rewards obtained by mining blocks.
Bitcoin miners are currently getting about 12.5 bitcoin per bitcoin block mining, a good sum considering the BTC value. A bitcoin is currently ranking at $ 9,000, so 12.5 of them doesn’t sound like bad business. For this reason, and for other reasons, this method is studied worldwide, without being approved yet by governments or banks.
To achieve the successful extraction of a block, complicated algorithms, and equations must be deciphered; it requires dedication and high-tech equipment. The equations are generated by the Blockchain system, must be done on capable computers, and need good internet and electricity flow.
Additionally, for the bitcoin halving process, two very clear rules must be taken into account. The first has to do with the definitive value established for each group of bitcoin, in a group of 21 million BTC. The second refers to the reduction of the reward by 50% for block extraction. This is, of course, subject to the law of supply and demand.
If bitcoin coins are created too quickly, without any control, eventually, there will be so many in circulation that they will lose value. For this, the bitcoin halving arise, and thus, the loss of popularity of this digital currency is avoided.
A bitcoin block is obtained every 10 minutes, so undoubtedly, its extraction, although complicated, occurs quickly, and is profitable. Bitcoin places its value in the market at around $ 9,000; for being a digital currency, the price is very attractive.
This process is carried out every four years. The next one corresponds this year as the bitcoin halving 2020 specifically in May, day 7. Its operators are preparing with the necessary planning and equipment, which does not affect the price of bitcoin in the long term.