The Halving Holiday
The post The Halving Holiday appeared on BitcoinEthereumNews.com. This article is featured in Bitcoin Magazine’s “The Halving Issue”. Click here to get your Annual Bitcoin Magazine Subscription. Setting aside certain days for celebration, commemoration or remembrance is a nearly universal practice among humans. While different cultures and religions have their own unique customs and traditions, the entire human race seems to share an underlying propensity to recognize certain occasions as distinct from otherwise ordinary days. Finally, something we can all agree on! While the word “holiday” or Holy Day, literally means a day that is set apart, there are also examples of special occasions which extend beyond a 24 hour period such as Hanukkah, Ramadan or even the 12 days of Christmas. After only 13 years since its inception, the nascent Bitcoin community has also begun observing its own special occasions: Jan 3rd, October 31st and Bitcoin Pizza Day, to name a few. Then, about every 4 years, there’s the big one. Click the image above to subscribe! Unlike Birthdays, Kwanza or Presidents’ Day, I would argue there are aspects of Bitcoin’s Halving which make it somewhat extraordinary compared to our standard understanding of holidays and their accompanying traditions. Perhaps in ways that even Bitcoin’s most ardent fanatics have yet to fully appreciate. It’s not that the halving is more important than Christmas or more memorable than a bar mitzvah. But the implications and distinct properties which take place every 240,000 blocks, are simply unlike any other “holiday” that humans are accustomed to observing. We are approaching Bitcoin’s 4th ever Halving at block height 840,000 which marks the beginning of a new epoch and a reduction of the block reward from 6.25 BTC to 3.125 BTC. But we don’t know exactly what day or time it will take place. You can’t exactly mark the occasion on your calendar…
The post The Halving Holiday appeared on BitcoinEthereumNews.com.
This article is featured in Bitcoin Magazine’s “The Halving Issue”. Click here to get your Annual Bitcoin Magazine Subscription. Setting aside certain days for celebration, commemoration or remembrance is a nearly universal practice among humans. While different cultures and religions have their own unique customs and traditions, the entire human race seems to share an underlying propensity to recognize certain occasions as distinct from otherwise ordinary days. Finally, something we can all agree on! While the word “holiday” or Holy Day, literally means a day that is set apart, there are also examples of special occasions which extend beyond a 24 hour period such as Hanukkah, Ramadan or even the 12 days of Christmas. After only 13 years since its inception, the nascent Bitcoin community has also begun observing its own special occasions: Jan 3rd, October 31st and Bitcoin Pizza Day, to name a few. Then, about every 4 years, there’s the big one. Click the image above to subscribe! Unlike Birthdays, Kwanza or Presidents’ Day, I would argue there are aspects of Bitcoin’s Halving which make it somewhat extraordinary compared to our standard understanding of holidays and their accompanying traditions. Perhaps in ways that even Bitcoin’s most ardent fanatics have yet to fully appreciate. It’s not that the halving is more important than Christmas or more memorable than a bar mitzvah. But the implications and distinct properties which take place every 240,000 blocks, are simply unlike any other “holiday” that humans are accustomed to observing. We are approaching Bitcoin’s 4th ever Halving at block height 840,000 which marks the beginning of a new epoch and a reduction of the block reward from 6.25 BTC to 3.125 BTC. But we don’t know exactly what day or time it will take place. You can’t exactly mark the occasion on your calendar…
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