Jon Harms: The Bitcoin Halving will be the main focus of the meetup. Jon will be discussing Supply and Demand economics, Austrian Economics, Mises' Theory and the possible outcomes from the Bitcoin Having.
At the:
The Taj Mahal of Idaho
150 North 8th Street
#222
Boise, ID 83702
May 11th, 2016 7pm - 8pm
What is the Bitcoin Halving... It's AWESOME!
In the Bitcoin network, user transactions are grouped in blocks and recorded to a digital public ledger called a blockchain. Miners are in charge of this task, and receive a mining reward in the form of bitcoins for each block recorded.
The amount of bitcoins rewarded for each block decreases with time: it is halved every 4 years (approximately). This event, the moment when the mining reward is divided by 2, is commonly called "Bitcoin halving". Other denominations are used: "reward drop", "reward halving", or simply "the halving" or "the Halvening" which is a popular meme among bitcoiners.
When Bitcoin was created in 2009, the initial reward was 50 bitcoins. In november 2012, it dropped to 25btc after the first halving. The second halving will take place in July 2016, decreasing the reward to 12.5btc.
If you would like to see more information about the Halving here are some links.
http://www.thehalvening.com/#1
http://bitcoinclock.com/
http://www.bitcoinblockhalf.com/
Please note, Danish has asked to host this meetup at his family restaurant the Taj Mahal in downtown Boise. Should be a great venue!!
