SNIFFpips

SNIFFpips Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from SNIFFpips, Digital creator, .

16/03/2024

CAN THIS BE SUSTAINABLE?

We've seen that takes regarding the halving bring more positivity than negativity for the space but there are always two sides to the coin. Pre and post halving we'll see various pull backs and breakthroughs and you can't predict how the market will be in the next 6 months or a year.
Can the demand be sustained? Will the new technology be successful and usable? Will miners be satisfied with their incentives? Will the chain be secure enough? All these are understandable questions and things could flip up or down in the blink of an eye but as mentioned earlier, ensure you have a safety net and
are not caught sideways. This is the game of the market and with every high risk, could come even higher rewards or worse, liquidations for every season will surely
see it's end in due time.

SUMMARY

The upcoming halving of Bitcoin this year, 2024, is a massive moment for cryptocurrency and web3.
Anticipation grows and well as expectation, that is to the say, the HOPIUM IS REAL!!!

All in all, we can be sure that this halving will bring many benefits and we hope these benefits are sustained and improved upon for as long as the blockchain may live.

Credits

16/03/2024

1. SUPPLY AND DEMAND: With the
reduction of the coins, demand for bitcoin could go up leading to a surge in its price as we have seen in the past 3 cycles. Reduction makes it
Scarcer and more valuable. This year
could be different but with the movement of bitcoin since its ETF
approval and it attaining a new all time high of $72,710.68 it's a safe
assumption to say the effect of the halving will only send it higher.

2. STOCK TO FLOW RATIO: Stock to
flow ratio compares an asset's current stock (price) to the rate of
new production, or how much is produced in a year.
A higher ratio Suggests greater scarcity, which generally leads to a higher price.
As we've seen that bitcoin will become Scarcer, that mnoves its ratio up and with this halving, it will be the first
time the ratio surpasses that of gold. This is of huge significance as it
suggests Bitcoin could be a better store of value in times of economic
inflation.

3. NEW TECHNOLOGY: With the blockchain seeing positive
advancement and acceptance,
builders seek to contribute even
more value to the blockchain. Last
year we saw the commencement of
Ordinals (Non-Fungible Tokens on
Bitcoin) and BRC-20s (Unique Fungible Tokens on Bitcoin) and this
year we await the commencement of
Runes, an alternative standard to
BRC-2Os.

4. ENHANCE SECURITY: Miners
receive rewards for verifying
transactions and adding new blocks
on the blockchain. These actions
contribute to the network's
computing power, increasing its
hash rate and thereby enhancing
security of the chain. With the expected rewards and the assumed
increase in price of Bitcoin, mining
is becoming more appealing to more
people. More miners would possibly equal more computation thereby enhancing the security of the chain.

_CRYPTOSPRING 2024_Spring is really upon us now in the world and it's refreshing to see that things are looking bright i...
16/03/2024

_CRYPTO
SPRING 2024_

Spring is really upon us now in the world and it's refreshing to see that things are looking bright in crypto as well. With BTC breaking all time highs, ETH and SOL also steadily gaining traction all the way to their own all time highs, things do seem too good to be true but instead of feeling weary and doubting the market pumps, set your safety net and let's set our portfolios ready to embrace the pump. Let's also examine one of the biggest narrative for spring 2024, THE BITCOIN HALVING.

WHAT IS THE BITCOIN HALVING?

The Bitcoin halving is a rule that was established by Bitcoin's creator, Satoshi Nakamoto when he created Bitcoin in 2008.
This rule was stated to reduce the mining rewards on the block chain quadrennially (every 4 years) by half, thus reducing the supply of bitcoin. Bitcoin is set at a 21 million token cap and the halving will keep happening until the cap is reached. The halving happens at every 210,000th block and so far there have been 3 halving events. The exact date is unknown due to the time it takes for blocks to be generated but as the 840,000th block is approaching, the next halving is estimated to be in April, 2024.

Trading is a lifestyle butCONSISTENCY and DISCIPLINE is key. 📌📈
16/03/2024

Trading is a lifestyle but
CONSISTENCY and DISCIPLINE is key. 📌📈

Address


Website

Alerts

Be the first to know and let us send you an email when SNIFFpips posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

  • Address
  • Alerts
  • Claim ownership or report listing

  • Want your business to be the top-listed Media Company?

Share