Discover and read the best of Twitter Threads about #halvening

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#Ethereum is about to undergo the #Thirdening - a reduction in issuance of new $ETH to miners from 3 ETH/block to 2 ETH/block, or a reduction of 33%. It will happen at block 7,080,000 as part of the Constantinople hard fork, which is estimated to be January 16th.
That's a bit like the US Federal Reserve saying, "we're about to reduce the number of new dollars we print next year by 33%." This is one step along the way to #Ethereum's eventual plan to have <1% annual issuance, as Proof of Stake and Serenity roll out. #Thirdening
When an asset's supply goes down (fewer miners selling newly-mined $ETH), assuming demand is the same (or higher), prices trend up. This is obvious when looking at $BTC price mapped against the #halvening, a similar event in $BTC where block reward halves, next one is May 2020.
Read 10 tweets
1/ People significantly underestimate the impact that countries with unstable currencies have on #Bitcoin prices
2/ Mining supply is currently ~12,600 BTC per week or ~$80mm. Putting this in context, weekly volume at @LocalBitcoins looks to have stabilized around ~$50mm per week after the late 2017 volume spike with a long term growth trend that looks to remain in place
3/ For those who don’t know, @LocalBitcoins is an online marketplace that facilitates the peer to peer exchange of #BTC for local currency. This is great for analysis purposes because it means we can breakdown the data on a country by country basis
Read 14 tweets

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