Hi Guys,
This is my first SteemIt post. I wanted to update you about a rare event that occurred this past Saturday called The Bitcoin Halvening.
Essentially, what happened this past Saturday 9th July, is the supply of bitcoin mined dropped from 25 bitcoins every 10 minutes to exactly 12.5 bitcoins every 12 minutes. This also means that the bitcoin inflation rates drops significantly from about 10% to about 7%.
So what does all this mean? It means that bitcoins are becoming more and more scarce with each passing day as the supply of coins entering the market has just been reduced by half.While this does not necessarily mean that the price of bitcoin will increase in the immediate short term, it does mean it will become harder to get bitcoin especially if the number of users continues to increase.
On Saturday, I featured in a Google hangout(see video below) with many other Crypto experts from around the World and we discussed Bitcoin and what we could expect to happen going forward. I talked about how Africa has been adopting Digital Currencies like M-Pesa faster than any other region in the entire globe.
WATCH THE VIDEO:
I believe Bitcoin and other Crypto-Currencies are next!
Article by: Karanja from BitHubAfrica
