Bonus Livestream Session - The Halving
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 Published On Streamed live on May 2, 2020

You've got important questions about the Halving. Like "Is it the halving or the halvening?" "What is it and why does everyone seem to care so much about it?" "Where in the bitcoin code can I find the rules for the halving?" and more. We talk about all of these questions and more in this Halving Bonus Livestream.

Chapters
0:00 Introduction
3:33 What exactly is the halving?
8:08 Can you show us code snippets of where the halving takes place?
15:05 What are your thoughts about the stock-to-flow(S2F) model?
20:31 Do you expect miners to start to process transactions only above a certain fee level to ensure a sustainable business model post-halving?
22:40 The halving creates a Darwinian pressure of survival of the fittest among miners, does that act as centralizing force? Could that be detrimental for the network?
26:11 Do you know of any virtual party to celebrate the halving?
28:33 After the halving, some say the hash rate death spiral could happen, could you explain what it is?
36:42 Can miners conspire to avoid halving? What happens if miners use software that removes the halving feature and keeps producing blocks with the 12.5 rewards?
41:46 I understand the C++ code you showed us, but I'd like to know how it is predicted to happen every 4 years?
43:09 Why do people still disagree about whether the halving is "priced in" or not?
46:56 What is the lifespan of a mining equipment?
51:29 Will the halving change the economics of mining so that it's no longer profitable, except for ASIC machines or custom hardware?
54:53 Will the halving affect how much electricity will be used or will one Satoshi still equate to about 500 joules?
57:59 Did Satoshi state why he implemented halving?
58:43 What happens when there are no more halvings?
1:03:55 You once said in the future Bitcoin could go sub-satoshi as the smallest internal unit. Would there be halvings after 2140?
1:05:48 When will we be sure of the actual date & time the halving event will occur?
1:07:30 Bitcoin does not solely rely on external time-keepers to know when the halving is set to take place. Could you explain the inner workings of "Bitcoin-Time"?
1:11:02 Since other SHA-256 half at different dates, are miners incentivized to switch away from BTC after halving (even if BTC has the biggest market cap)?
1:14:56 Who exactly can adjust the BTC code for difficulty adjustment? How exactly is this done? How secretive?
1:19:39 Other than halving, what other options does Satoshi have to reduce the bitcoin supply?
1:22:28 How do you think Bitcoin would have performed technically speaking had there been no halving events in its design?
1:24:11 If the block rewards continue to be reduced over time and transaction fees to miners will presumably proportionally increase, how is the network ultimately secured?
1:26:13 What is your sense of how much more awareness of bitcoin there is globally this halving vs the 2016 halving?
1:28:30 Where do you think this 2020 halving will rank against others' past or future insignificance and which factors make it particularly important?
1:30:21 Can you please talk a little bit about what happens after the 21 million bitcoins are mined?
1:32:08 How many halvings have you participated in?
1:33:14 Conclusion

What is a Bonus Livestream Session?
Bonus sessions are a bit different from my regular monthly Community Builder Q&A. They are shorter, only 30-45 minutes, and each session has a focused topic; this week it’s the Halving. However, like the regular Q&A sessions, most of the questions I answer will come from Community Builders. I’ll start the broadcast with several questions that they have submitted and voted on through our voting platform. Time permitting, I'll take a couple of follow ups and new questions posted by the Livestream audience too.

Why Are You Doing This?
Right now, many of us are distanced from our typical communities: our local friends, our workplaces, and even our family members, because of COVID-19. For this reason, it feels like our digital communities are especially important right now. This will give us the opportunity to connect while many of us are social distancing or quarantined.

You may already know that my mission is to educate as many people as possible about #Bitcoin and open blockchain technologies. Participating in these Livestream sessions is one way to do that. Thank you for being part of this mission.

Learn more about becoming a Community Builder:   / aantonop  

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