The FUD: The Halving Cometh
The Bitcoin halving was successful, on to bigger things now bulls.
Here it is, the tenth edition of The FUD, where I talk about the biggest FUD of the week. I help clarify events that crypto twitter decides to escalate. Leggo.
This week the bitcoin halving overshadows all topics.
It has its own fud, which I would like to go through, from when did the halving begin, what block and are we now bullish or is this the end. Let’s get into it.
When did the Halving Happen?
So just to get straight into this, YOU are a complete moron if you do not understand this yet. It is a simple straightforward topic that require no abstract thought, the halving happens every 210,000 blocks, almost 4 years. It marks a new ear where the mining reward is halved, reducing the supply of freshly minted Bitcoin. It happens on the block when a miner is rewarded a reward half that of the previous block.
This year, the reward was set to drop to 6.25BTC at block 630,000. At block 629,999 a block was mined and the last reward of 12.5 was handed out. We began mining block 630,000 and once it was mined and a reward of 6.25 BTC was successfully distributed the halving was complete, and this block was block 0 of this new era.
Simple, Block 630000 is block 0. It confirmed the halving was a success, it marked the first instance of such block reward reduction. You can argue the beginning or end of that block, but it remains block 630,000 and only a f****g moron would think otherwise.
1st halving; Block 210,000–2nd halving; Block 420,000–3rd halving; Block 630,000–4th halving; Block 840,000…. and so on….
Talking about morons, this one thinks Bitcoin is dead,
People, please do not listen to pedos.
May the real crypto dog please stand up
Wow, I don’t know how to begin explaining this. Not only did CZ delist the tokens of a firm he is invested in, but he also goes to directly to recreate the token and list it as his own. I guess watches and handbags aren't the only things being replicated down there.
Leveraged tokens are dangerous only if they don’t line the Binance executive wallets I guess. In Australia, we call someone who behaves this way towards his friends and family a “dog”.
Paul Tudor 2% in Bitcoin
The big news this week, Paul Tudor, one of the most successful personalities on Wall Street has publicly come out claiming Bitcoin is the hedge.
While to bitcoiners this is not news. To the normies and the noobs, this is huge, trust me I have seen how fascinated they are with this,m thinking this makes bitcoin “bullish”. Remember most people are sheep they do not have their own opinion they need a “leader” to follow or a hero to “cheer”.
To keep it positive though, this is awesome, more normies, more validation. They are finally starting to see what bitcoiners have been preaching for 12 years. Bitcoin is the ultimate hedge against imminent systematic failure.
A secret message in the final block
The final block of the 3rd Epoch was ended with a beautiful message, a wonderful reminder of why Bitcoin is, and why it always will be the soundest money top exist.
Born out of the 2008 Global financial crises, it was a great reminder to embed permanently into the blockchain, lest we forget. 2020 marks the year of a $2.3T injection, far exceeding that of 2008.
If 2008 was the reason Bitcoin was created, then 2020 just amplified that. The Brrrr is forever imprinted on-chain. This is what Bitcoin was built for.
Let’s not forget Ross
The halving is here and we all celebrate a new era.
But let's not forget the true libertarians that made this happen, the soldiers lost along the way. Ross Ulbricht was a true hero, whose freedom was taken with no just cause. He inspired many of us to continue on this path and opened our eyes to the power of a truly free market and the importance of a censorship-resistant currency.
Lea has the right idea, much respect.
The Trade
It happened, the halving, so what next?
I drew this cart a while ago if you look back through the FUD, it's just been following the path. So far it’s been on point.
Now, what I am hoping for is the bulls to come out and push it up from here, I want us to hold 8k otherwise down to 6 we go before the final launch into orbit. Regardless though, we are going to orbit.
I am still convinced that 2020 is not the year and that 2021 will be the moon season, but who knows, let's see how this plays out.
With all the macro factors playing out there is a lot of pressure on Bitcoin, I think this will play out to its favour though as we decouple later on in the year. For more trading tips and signals tune in to Whisky & Wicks next week, I have a big trader on who can help clarify the landscape.
Hope you all enjoyed this don’t forget to follow me TheBitcoinaire and MineDigital on twitter and medium to stay updated on The FUD and Whisky & Wicks. Don’t be a sheep and pay a premium, use Mine Digital for the best rates in Australia guaranteed. Mine Digital also has insured custody so don’t worry about your funds.
Please note this is not intended as financial advice. Always do your own research. The writer holds (and is biased towards) Bitcoin. The writer’s thoughts are his own and do not reflect those of Mine Digital.
