Dubai is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai.
Located in the eastern part of the Arabian Peninsula on the coast of the Persian Gulf, Dubai aims to be the business hub of Western Asia.It is also a major global transport hub for passengers and cargo. Oil revenue helped accelerate the development of the city, which was already a major mercantile hub. Today, less than 5% of the emirate's revenue comes from oil. A centre for regional and international trade since the early 20th century, Dubai's economy relies on revenues from trade, tourism, aviation, real estate, and financial services. According to government data, the population of Dubai is estimated at around 3.38 million as of January 2020.
bitcoin dump hard three days away from the halving, in 10 minutes the price dumped from 9600 USD to 8150 USD, and the history again repeated itself, a dump like happened in 2016 days before the second block reward halving.
a song that discripe the real situation in algeria and the revolution against the ruler.
Écoutez "Liberté" maintenant : https://soolking.lnk.to/Liberte
Écoutez tous les tubes de Soolking ici : https://soolking.lnk.to/Playlist
Prod by Katakuree
Mix & mastering: Albanchance
Réalisé par Shems Cameron & izinoise
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Producteurs : Hyper Focal & Affranchis Music
#Liberté #Algérie #Soolking
What is a block halving event?
As part of Bitcoin's coin issuance, miners are rewarded a certain amount of bitcoins whenever a block is produced (approximately every 10 minutes). When Bitcoin first started, 50 Bitcoins per block were given as a reward to miners. After every 210,000 blocks are mined (approximately every 4 years), the block reward halves and will keep on halving until the block reward per block becomes 0 (approximately by year 2140). As of now, the block reward is 12.5 coins per block and will decrease to 6.25 coins per block post halving.
Why was this done?
Bitcoin was designed as a deflationary currency. Like gold, the premise is that over time, the issuance of bitcoins will decrease and thus become scarcer over time. As bitcoins become scarcer and if demand for them increases over time, Bitcoin can be used as a hedge against inflation as the price, guided by price equilibrium is bound to increase. On the flip side, fiat currencies (like the US dollar), inflate over time as its monetary supply increases, leading to a decrease in purchasing power. This is known as monetary debasement by inflation. A simple example would be to compare housing prices decades ago to now and you'll notice that they've increased over time!
Predictable monetary supply
Since we know Bitcoin's issuance over time, people can rely on programmed/controlled supply. This is helpful to understand what the current inflation rate of Bitcoin is, what the future inflation rate will be at a specific point in time, how many Bitcoins are in circulation and how many remain left to be mined.
bitcoin inflation chart
Who controls the issuance of Bitcoin?
The network itself controls the issuance of Bitcoins, derived by consensus through all Bitcoin participants. Ever since Bitcoin was first designed, the following consensus rules exist to this day:
21,000,000 Bitcoins to ever be produced
Target of 10-minute block intervals
Halving event occurring every 210,000 blocks (approximately every