World

Bitcoin

Impact

<h2 id="key-points">Key Points</h2>
<ul>
 <li>The Bitcoin network has successfully completed its fourth halving event.</li>
 <li>Industry leaders have shared differing views on the potential impact of the halving on the crypto space.</li>
</ul>
<p>The crypto community is divided on the implications of Bitcoin’s recent halving event.</p>
<p>This is the fourth time the Bitcoin network has halved its mining rewards, which are now at 3.125 BTC per block, equivalent to approximately $200,000.</p>
<h2 id="halving-s-impact-on-crypto">Halving’s Impact on Crypto</h2>
<p>Emin Gün Sirer, founder of Avalanche, offered two contrasting views on the halving.</p>
<p>Technologically, he perceives the halving as a negative event due to the sudden reduction in rewards for miners, which in turn decreases the security budget of the <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> system.</p>
<p>Sirer suggested that if Bitcoin’s creator were still around, the halving process might be modified to decrease rewards more gradually.</p>
<p>However, Sirer also acknowledged that the halving has stimulated speculation and buying in the crypto space, leading to increased interest and potential for growth.</p>
<p>He predicts that the crypto space could grow by at least a factor of 10.</p>
<h2 id="halving-s-immediate-impact">Halving’s Immediate Impact</h2>
<p>Contrary to Sirer’s view, Paolo Ardoino, CEO of Tether, believes that the halving may not immediately impact Bitcoin’s price.</p>
<p>Ardoino remains optimistic about the potential impact of Bitcoin exchange-traded funds (ETFs), expecting significant moves once pension funds and other hedge funds start investing.</p>
<p>Justin Hyun, Director of Investments at The Open Network (TON) Foundation, believes the halving demonstrates the principle of ‘code is law’ in crypto.</p>
<p>He hopes that the wider community will become more curious about different networks and how they interact with the code and users after witnessing this predefined event.</p>

Discover How Bitcoin Halving Upholds Code as Supreme Law in Crypto World

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