Quote from: Gafman on Today at 09:02:02 AM

Quote from: pooya87 on Today at 05:55:15 AM

Quote from: Gafman on Today at 05:39:39 AM

Bitcoin halving is an antcipated event in the cryptocurrency world that takes place every 4 years. Basically halving the total amount of Bitcoin in circulation.

that is wrong. the block reward is cut in half not the total amount of bitcoin in circulation. the later doesn't make any sense since if it were true we would have run out of bitcoins to use soon!
what happens is that each block that is found has a reward, it started at 50BTC per block and each 210000 blocks this reward is cut in half -> 25 -> 12.5 which is the current reward and soon will be 6.25. due to the way bitcoin difficulty is designed it takes approximately 4 years to reach each halving.

there is nothing unreal or theoretical about this. what i explained has been enforced by the bitcoin protocol for the entire existence of bitcoin (11 years).

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Taking into consideration that people are falling back to cryptocurrency during this hard time in the world.

that is wrong. people aren't adopting bitcoin any more than before during the pandemic. the adoption may have even slowed down a bit.
and like always to spend bitcoin you'll need it to be accepted somewhere, those who were spending are still spending and those who weren't willing to spend (only use it as an investment) are not changing their mind either!

Thanks a lot for the explanation

Halving is definitely real, and people have already explained here what it's really about. However, halving might occur a bit off the schedule, I believe. More importantly, a thing that's not real and merely hypothetical but related to halving is that the price will go up. People have been talking about it for years, and many attribute the price boost of 2017 to halving of 2016, although I don't really see the connection. Anyway, while halving as a fact of reduction of the block reward is a real thing, its impact on mining, prices and adoption are debatable.