The great Bitcoin block reward halving is finally upon us. In a few more hours, block rewards for miners will be reduced by 50 percent, with as-yet-unknown consequences for the Bitcoin industry.
Also read: The Bitcoin Halving Doomsday Scenario
Around the world, Bitcoiners are watching countdown clocks and block explorers in anticipation. Which mining pool mined the last 25 BTC block, and who mined the first of the new 12.5 BTC blocks? Would this be seen as a good or bad omen for the pool?
For the record, the last block mined with a 50 BTC reward in 2012 went to BTC Guild, while the first block mined at 25 BTC was shared among Slush’s Pool.
A glance at /r/Bitcoin on Reddit indicates the halving is first and foremost on the minds of the Bitcoin community. Many local groups are throwing “halving parties” to celebrate the event.
The Big Question
The big question is, of course: what will happen to the bitcoin price? In the aftermath of the halving, will it suddenly soar, or plummet? Or will everything continue as usual, with little to no change at all?
Although block reward halvings are scheduled to take place every 210,000