A day to {block|obstruct} {reward|benefit|incentive} halving, Hashflare {has|has actually} {become one|turned into one} of the {first|very first|initial} Bitcoin mining {companies|business|firms} to {inform|notify|educate} their miners that the {proposed|suggested} {reduction|decrease} in the mining {reward|benefit|incentive} {will|will certainly} {affect|impact|influence} their {payout|payment}, though it didn%u2019t {say|state|claim} by {how much|just how much}.

1. Steven L. Rhyner
Bitcoin Mining Company Admits Halving Will Affect Miners
Payout From Monday
teamsteverhyner.com/bitcoin-mining-company-admits-halving-will-affect-miners-payout-from-monday/
A day to block reward halving, Hashflare has become one of the first Bitcoin mining companies to inform their miners
that the proposed reduction in the mining reward will affect their payout, though it didn’t say by how much.
In a message to its miners via email, Hashflare says:
“We would like to remind you that this weekend Bitcoin mining reward will be reduced by 50%. This
process, namely halving, is a part of Bitcoin system script and occurs every 210 000 blocks. The last
halving was 4 years ago and the block reward went down to 25 BTC from 50 BTC.
“The halving will occur on Saturday, approximately at 20:30 (UTC+3). This means that the whole
Bitcoin network will start getting a reduced mining reward. This will also be reflected in the payout you
will receive on Monday.”
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2. Getting prepared
The company says its team has
been getting ready for the event for
a couple of months already and is
currently preparing and installing new, more energy-efficient SHA-256 hardware.
It adds:
“We are putting a lot of effort from our side to keep BTC mining profitable. In the nearest future we
will be able to reduce the cost of electricity, lowering the electricity fees for SHA-256 contacts in
HashFlare as a result.
We work hard to make our service better and we hope that our efforts make your cooperation with us
more profitable and enjoyable.”
Uncertainty remains
Most miners are not sure of what to expect after the halving. Also, not many mining companies so far have shown
their identities or explained the dynamics of their operations.
Another mining company that has tried to avoid raising the hopes of its miners unnecessarily which could lead to
blurry trust issues is Genesis Mining. Its CEO, Marco Streng, was able to share a little information when the World
Economic Forum had a tour of its mining site. He disclosed that one Bitcoin costs about $200 to mine – that is with a
good deal on electricity and ignoring all other costs like good internet connections and a cold climate such as that
which the company enjoys in Iceland where its operations are located.
However, despite the revealed cost and the current price of Bitcoin, the company did not say what to expect after the
halving and continues to err on the side of caution. Rather it maintains on its Facebook page that it is very difficult to
forecast all consequences of this event. Streng even mentioned in an interview that the halving event, despite
known since the start of Bitcoin, could drive up the price in the case of a slow growth in its supply, or it might not do
anything at all.
Re-posted from www.cointelegraph.com by Olusegun Ogundeji July 9, 2016
Talking heads muddy the waters. The market will decide the value of Bitcoin and any other commodity for
that matter. Either way, Bitcoin is here to stay and the halving is a planned event that will happen
approximately every four years. Less supply theoretically means a higher price. The market will decide. In
the mean time, owning Bitcoin makes sense as part of your portfolio. In addition, using a portion of your
Bitcoin mining proceeds to purchase hard assets such as gold, silver and real estate can cushion your
portfolio against any possible future currency collapses which have been predicted. Better safe than sorry.
Click here for a cash flow system that will pay for your precious metals.
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