Cryptocurrency Q&A
What happened to bitcoin in 2024?
What happened to bitcoin in 2024?
SumoPower
Sat Jul 06 2024
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7 answers
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Inquiring minds want to know, what unfolded for Bitcoin in the year 2024? Did the digital currency soar to unprecedented heights, breaking all previous records? Or did it face significant challenges, perhaps even a market crash? Did regulators around the world clamp down harder on cryptocurrencies, or did they embrace the technology, paving the way for wider adoption? Did the Bitcoin network undergo any significant upgrades or changes, improving its scalability, security, or privacy? Did the crypto community rally around a common cause, or did the community become fragmented, with differing opinions and goals? The year 2024 undoubtedly presented both opportunities and challenges for bitcoin, and we're eager to learn what actually transpired.
7 answers
Valentina
Mon Jul 08 2024
The block reward, which miners receive for successfully solving the computational puzzle and adding a new block to the blockchain, underwent a halving.
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emma_rose_activist
Mon Jul 08 2024
This stability can be attributed to several factors. Firstly, the halving event had been anticipated for quite some time, allowing investors and traders to prepare accordingly.
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ethan_harrison_chef
Mon Jul 08 2024
Prior to this event, miners were rewarded with 6.25 BTC for each block mined. However, after the halving, this reward was reduced to 3.125 BTC per block.
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SakuraBlooming
Mon Jul 08 2024
Despite the significance of this change, it was met with little fanfare or celebration. There were no bells ringing, no fireworks lighting up the sky.
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Pietro
Mon Jul 08 2024
The market, too, seemed to take the news in stride. The price of Bitcoin remained relatively stable, hovering around the $64,000 mark.
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