Reward-Drop ETA date: 20 Jun 2020 23:13:07 The Bitcoin block mining reward halves every 210,000 blocks, the coin reward will decrease from 12 to 6 coins.Total Bitcoins in circulation:16,408,450 Total Bitcoins to ever be produced:21,000,000 Percentage of total Bitcoins mined:78.14% Total Bitcoins left to mine:4,591,550 Total Bitcoins left to mine until next blockhalf:1,887,888 Bitcoin price (USD):$2,663.00 Market capitalization (USD):$43,695,702,350.00 Bitcoins generated per day:1,728 Bitcoin inflation rate per annum:3.92% Bitcoin inflation rate per annum at next block halving event:1.73% Bitcoin inflation per day (USD):$4,601,664 Bitcoin inflation until next blockhalf event based on current price (USD):$5,027,445,744 Total blocks:472,676 Blocks until mining reward is halved:157,324 Approximate block generation time:10.00 minutes Approximate blocks generated per day:144 Difficulty:711,697,198,174 Hash rate:4.99 Exahashes/s Litecoin Block Halving Countdown

WHAT IS BITCOIN HALVING?In the Bitcoin network, user transactions are grouped in blocks and recorded to a digital public ledger called a blockchain.Miners are in charge of this task, and receive a mining reward in the form of bitcoins for each block recorded.The amount of bitcoins rewarded for each block decreases with time: it is halved every 4 years.This event, the moment when the mining reward is divided by 2, is commonly called "Bitcoin halving".bitcoin rmbOther denominations are used: "reward drop", "reward halving", or simply "the halving" or "the Halvening" which is a popular meme among bitcoiners.When Bitcoin was created in 2009, the initial reward was 50 bitcoins.bitcoin blockchain viewerIn november 2012, it dropped to 25btc after the first halving.bitcoin bursaThe second halving will take place in July 2016, decreasing the reward to 12.5btc.

WHAT IS THE IMPACT ON BITCOIN PRICE?As any freely traded asset, Bitcoin price depends solely on demand and supply.The evolution of bitcoins supply is hard coded and is known to everyone, so it all depends on the evolution of demand.Bitcoin being a very young currency with much room to grow in use and value, I would personally bet on a price increase.It remains 100% unpredictable.One thing is certain though: at the time of Halving, the supply reduction will already be priced in the exchange rate, thanks to market anticipation.So don't expect a big price movement on Halving Day.Note that other examples of halvings are available for comparison.The first Bitcoin halving occurred on the 28th of November 2012.On that day the price went up +1.7%, a negligible move.However the preceding and following months showed continued growth and led to the famous early-2013 rally (from 13$ to 260$ in 4 months).More recently, the Litecoin, a Bitcoin clone, passed its first halving on August 25th, 2015.Two months before, a wild speculative rally took the price from 2$ to more than 8$, before crashing back to 3$.What is certain for this second Bitcoin halving is that similar wild, speculative, short-term rallies and crashes will occur.

The interesting observation will be, on a larger time-scale, to see if the up-trend that Bitcoin price has been experiencing since its inception in 2009 will continue its path.HOW DOES THIS SITE WORK?This web page is connected to several web APIs to provide real-time data about the Bitcoin network.The new block announcement is obtained through a websocket established with blockchain.info.The spot price is provided by Bitstamp web API.It's an event that brings equal parts predictability and uncertainty.For close to a year, bitcoin miners and investors have been preparing for a network change nicknamed 'the halving'.At approximately 18:00 UTC tomorrow, the subsidy the bitcoin network uses to compensate miners will drop from 25 BTC to 12.5 BTC, never to increase again.Yet, despite its scheduled arrival, many in the industry remain unsure just how significant an impact it could have on bitcoin's still-volatile price and the health of the distributed payment network's transaction validators (aka miners).

A programmed feature in the code, the bitcoin subsidy controls the supply of new bitcoins that are released into the market with each new block.When bitcoin first launched, a miner could earn 50 BTC for sealing a block on the blockchain ledger.After 210,000 blocks, or approximately four years, however, the reward was cut in half to 25.And tomorrow, as block 420,000 is sealed, miners will be left with a reward of 12.5 bitcoin.As currently set, only 21m BTC will ever be mined, a figure that would require the consensus of all or most bitcoin users to change.Because the figure does not vary or become irregular, there is a steady, predictable supply of new bitcoins.To traders, this has quelled some uncertainty regarding how many new bitcoins could suddenly appear for sale, and to miners, it has provided a steady incentive for them to continue maintaining bitcoin's ledger.Complicating matters, however, is that not all traders are altruistic and that mining costs money, and since bitcoin's price impacts other areas of the ecosystem, some believe this delicate balance could be altered by the halving.

Petar Zivkovski, the director of operations at WhaleClub, argues that the price of bitcoin will drop after halving, due to the fact it marks a likely exit event for speculative buyers."The halving’s impact on price has been felt since September of last year when price was hovering in the $200s.During that time, smart money began buying bitcoin in a market phase commonly known as accumulation."So, what impact will halving have on the network?What will happen to the price?What can the average bitcoin investor or user expect to happen – or not to happen – once the halving occurs?CoinDesk surveyed a number of market experts to explore.At one point, there were some miners who expressed concern that the halving could impact their profitability, enough so that some would be forced offline.Chandler Guo, the founder of Bitbank and its subsidiary, BW, was one of these community members.He argued in the beginning of June that, "if the price doesn’t go up very quickly, up two times, it means a lot of the older machines will be shut down.

They must shut down".Further, he cautioned that 300 petahash of older machines could be forced off the network.But, since that interview, the price has increased from $530 to $650, meaning that this dynamic has changed.Guo's thesis focused on the belief that if transactions took longer to verify, individuals would grow disenfranchised with the network, which could ultimately send the price down.If that happened, especially with the reward cutting in half, the profits for miners could degrade, making continuous mining more difficult.Eric Lombrozo, founder of Ciphrex and a contributor to the open-source Bitcoin Core developer team, said in June that it was possible that such an event could occur, but that the extent of any impact was likely to be mitigated, based on historical analysis."We’ve already had a halving in the past…and we’ve also seen significant sudden drops in bitcoin price – both of these situations imply lower short-term miner revenue.In neither case did we see a significant drop in hashrate."

While Armageddon is not around the corner, there is agreement that hashrate on the network, which currently stands at 1.54 exahashes per second will experience a slight decline.Marco Streng, CEO of hosted mining services firm, Genesis Mining, isn’t too concerned about this, however."I think due to the halving, a slight hashrate drop is realistic to assume,” he said.Terrence Thurber, co-founder and CEO of hosted bitcoin miner Oregon Mines, echoed Streng's predictions about the network experiencing some drop in the total hashrate."We continue to believe that total network hash rate will decrease by approximately 10% after halving as older equipment that is no longer economically viable will leave the network.Later generation machines ... will pick up some of the slack," he told CoinDesk.Elsewhere, BitFury CEO Valery Vavilov expressed optimism about the halving, though admitted that his firm expects some drop in hashrate."Some decline in the bitcoin network hashrate is expected (after the halving), and we believe it will be insignificant," he told CoinDesk, adding: "The most important thing is that even if the hashrate declines, it will not compromise the security of the bitcoin network."

But the drop in hashrate won’t be as significant primarily because the only real cost that miners have is electricity.Eric Mu, the chief marketing officer at HaoBTC, a mining firm with approximately 5.5% of hashrate, explained that the effect of halving likely won’t be immediate."The bulk of the cost is sunk in the form of mining equipment and infrastructure, at least that is our case," he said.Litecoin’s halving event, which took place on 25th August, 2015, supports Mu and Lombrozo's belief that the effect won’t be significant.When the halving happened, the hashrate was 1.19 TH/s.Over the following days, that dropped to 1.11 TH/s, which was only a 7% drop.Charlie Lee, the creator of Litecoin and director of engineering at Coinbase, explained why the drop was so small in a reddit post.Because China-based hydro power plants generate too much electricity, he explained, they will sometimes give miners free electricity for a share of revenue.Miners may make half as much at halving, but with free electricity, he argued they're still profitable.

The price will drop But, how the price will be affected remains to be seen.As noted by Zivkovski, the smart money — institutions, professional traders and knowledgeable bitcoiners — were banking on the rumor and event cycle.It's arguable that yesterday's near-10% price correction was already a sign that this is starting to occur.Zivkovski said to CoinDesk: "This is the classic 'buy the rumor, sell the event' cycle.In this case, the event is the halving.Smart (and patient) money, in the most part, is no longer looking to accumulate.Their holdings have more than tripled in value."And after halving, the accumulators will start looking to liquidate those holdings, Zivkovski explained."Post-halving, however, the excitement will die down.Bitcoin, the network, has not changed fundamentally or significant in the past six months,” he said.While he couldn’t offer a precise prediction on price, he did say that after accumulators take their profits, "a higher support level will form and the cycle will slowly take shape again".

Later, the price will rise While the price could decline in the short term, it remains unclear how supply and demand will shift after the halving, if it will at all.Miners are earning 25 BTC today, but it's not known whether they're selling at the same rate to maintain operations now that the price has increased.With prices rising, they could even be holding more bitcoin than they would normally.Either way, the rate at which they could potentially sell new bitcoins into the market will undoubtedly fall, which could mean that, assuming demand does not decline, buyers will need to acquire bitcoin from the market, which would push the price up.Where there is uncertainty is how much the price will rise."The price of bitcoin after the halving would normally be expected to rise as decreasing supply meets increasing demand," Thurber explained."The unknown is how much price increase has already been baked into the current price."But when the halving dust settles, Thurber believes that the price will be even higher than this recent run-up.