We’re just getting started — thoughts from my third halvening
As central banks print record amounts of money around the world, Bitcoin simply does what it was programmed to do: reduce the minting of new bitcoin by halving the mining reward from 12.5 BTC per block to 6.25 BTC per block. Reaffirming what we have known from the start — bitcoin is a steadily increasingly scarce resource.
While many are speculating on what it might do to the price, I think there are a bunch of other interesting trends that make me bullish on the future of crypto:
- The Hashrate (a term coined by Blockchain.com back in 2011) is at an all time high, meaning there are more miners than ever.
- Trading volume is at a record high.
- Transactions per day and volume on chain is up massively across the space
- Interest from mainstream media is growing, especially with news such as Paul Tudor Jones
In the short term crypto could go up, crypto could go down, but those of us who remain bullish on the long term potential of crypto to power the financial system of the internet, we are just getting started.
During the last halvening, four years ago, a journalist told me everyone had already missed out who hadn’t bought yet. The price was $625.
It’s hard to believe, but everyone getting involved in crypto now will still be remembered as a pioneer.
And with products across the ecosystem that are easier, faster, and frankly better with each passing month.. It’s never been a better time to join the movement.
I hope you will — let me know how I can help.
We’re just getting started -Thoughts from my third halvening was originally published in @blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.