24 August 2023
Bitcoin breaks if we don’t hit $120,000 by the halving! We discus in PMM Episode 009.
PMM Episode 9
Show Notes
The title is total bullshit. If you clicked... Gutted mate.
Listen to PMM wherever, BOOST on Fountain
Boty came back from Mining Disrupt a changed Bot. Is Boty a gangland thug? Who pulls the strings at Lincoin, Medi or Boty?
Intro Music: Geto Boys - Still
Statistics brought to you by Lincoin Mining and their suite of products. Visit Lincoin.com to schedule a call with Medi to find out more.
Something the entire world, not just Bitcoiners or Bitcoin Miners need to understand is the halving or Halfinning. New bitcoin are issued by the Bitcoin network every 10 minutes. For the first four years of Bitcoin's existence, the amount of new bitcoins issued every 10 minutes was 50. Every four years, this number is cut in half. The day the amount halves is called a "halving" or "halvening" or better than those two the “halfinning”
In 2012, the number of new bitcoins issued every 10 minutes dropped from 50 bitcoins to 25. In 2016, it dropped from 25 to 12.5. In the most recent May 11, 2020 halving, the reward dropped from 12.5 to 6.25 BTC per block.
Next halfinning is estimated to occur April 17, 2024, the reward will drop from 6.25 BTC per block to 3.125 BTC.
2012 Halving
The 2012 block halving was the first halving and happened on November 28th, 2012.
From 50 BTC per block to 25 BTC per block
Price on Halving Day: $12.35
Price 150 Days Later: $127.00
2016 Halving
The second halving occurred on July 9th, 2016.
25 BTC per block to 12.5 BTC per block
Price on Halving Day: $650.63
Price 150 Days Later: $758.81
2020 Halving
The third halving occurred on May 11, 2020.
12.5 BTC per block to 6.25 BTC per block
Price on Halving Day: $8821.42
Price 150 Days Later: $10,943.00
Global Hashrate
- Global Hashrate - on the day of the first halving was about 24 TH but a year later jumped to 4,837 TH. 20054% increase. 266% increase. On halving number 2 July 9th 2016 Hashrate was at 1.5 million TH but a year later jumped to 5.5 million, that’s a 266% increase. Halving number 3 was May 2020 120 million TH or 120 EH. A year later global hashrate jumped to 163 million TH or 163 EH. Over the 3 years from then until August 1 of 2023 it jumped to 380 something EH 133% increase.
Boty Joke: How does a lemon answer the phone, yellow.
Bitesize Bitcoin by FixRigs
When in need of repair please visit them at FixRigs.com or on X @FixRigs. They also offer a one year extended warranty at 3 different levels, starting at $225
WTF is Containment and Why Does it Matter by Bigety Bigety Barnminer and Aaron Hall
Heat recirculation can be tricky. Oftentimes it is not discovered until a build is complete and energized. Heat recirculation causes havoc in hot environments. Read the entire article on UgovernableMisfits.com
Containment
1. The act or condition of containing.
A structure or system designed to prevent the accidental release of radioactive materials from a reactor. Or translate to Bitcoin mining terms, the accidental release of heat from a miner.
Pleb Miner Monthly ACTION NEWS!!!
From Brad Cuddy at Cholla Energy
If a whatsminer ends in 0 or 1 like the M30 M50 or M31 it is air cooled. If it ends in 3 or 4 the M53 is water cooled and if it end in 6 its immersion like the M56
The big news from Disrupt was the two new miners DesiweMiner and the ePIC Blockchain
Nico’s Article explains in greater detail.
Pleb Miner in the Wild
This episode’s Pleb Miner in the Wild is Dave of the Desert visit him on NOSTR @ Desert[email protected]
Dave and Jon talk about Dave’s solar setup and how to achieve a build like his in an economical fashion. Dave has created a video describing his setup.
Also, get your UNGOVERNABLE asses over to Fountain and BOOST THE SHOW!
Thanks for listening.
