The Bitcoin Halving Doomsday Scenario
There’s been a lot of chatter surrounding the upcoming Bitcoin halving that’s taking place roughly around the end of July 2016. One specific doomsday discussion called the “death spiral” or “halving disaster” has caused some fear within the community. At present, a miner receives 25 Bitcoins per block. When the reward change occurs this summer, the....
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Doomsday scenarios are not very popular for an obvious reason, but now and then, it is important to consider what would happen if push came to shove. Bank of England posted their doomsday scenario, to reveal how UK banks would deal with a massive economic shock. While it is important to keep in mind most of these events will most likely not happen anytime soon, it gives valuable insights as to why Bitcoin is so important. Depending on who you pose the question to, banks will either be around for a very long time, or for a handful of years. This has lead to a scenario drafted by the Bank of....
Over the past few years, worldwide fears of an apocalypse-type scenario have increased quite a bit. The trend is likely to be associated with global economic turbulence, failed central planning, and the rise of tyrannical governance. With people believing doomsday may come to pass, many are hoarding various commodities like precious metals, and now even....
With the halving looming and transaction capacity maxed out, some are predicting a doomsday scenario. Much, therefore, depends on the Lightning Network. A “decentralized network using smart contract functionality in the blockchain to enable instant payments” which is capable of an amazing “millions to billions of transactions per second” according to the Lightning Network’s website. The Lightning Network is a fairly old — in bitcoin terms — idea which makes use of bitcoin’s inbuilt script system allowing for trustless payments through intermediaries, but enforceable on the blockchain. In....
The Bitgesell halving just took place yesterday, March 28th, and will focus on putting a deflationary economic model in place just like Bitcoin did after its halving. Here’s everything you need to know about the Bitgesell halving, the coin itself, and what lies ahead post-halving. What To Expect Now That The Bitgesell Halving Has Happened Bitgesell, a young but novel blockchain project founded by Emma Wu, relies on a spinoff of the original Bitcoin codebase, […]
A misguided article has been spreading misinformation about Bitcoin and tether recently. Here’s what it got wrong. The post Debunking Misconceptions From “The Bit Short: Inside Crypto’s Doomsday Machine” appeared first on Bitcoin Magazine.