Should You Buy Bitcoin Before the Next Halving?

Bitcoin (CRYPTO: BTC), the world's most valuable cryptocurrency, is often valued by its scarcity because it's mined with the energy-intensive proof-of-work (PoW) consensus mechanism. By using powerful computers, miners solve cryptographic puzzles to earn Bitcoins as rewards.When Bitcoin was created in 2009, it could be mined with simple CPUs. But every four years (after 210,000 blocks were mined), the mining rewards were cut in half through a scheduled "halving" to make it more difficult to mine Bitcoin for profit. To keep up with those halvings, Bitcoin miners shifted from CPUs to GPUs to application-specific integrated circuits (ASICs). Today, those miners can only profitably mine Bitcoins with powerful ASIC miners.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool