Why You Need To Understand Bitcoin And Litecoin Halvings | EP#126

Hey everyone Scott Cunningham aka
@scottcbusiness today we’re going to be talking about litecoin and bitcoins
having and why that matters because to a lot of people they say what does that
even mean I’ve had people say I don’t actually believe that’s gonna happen or
you know like I can’t trust you on your opinion about bitcoin and litecoin it’s
not my opinion I’m not an expert but it is a fact that they will have and you
can make your own financial decisions based on what I’m telling you I’m not
telling you to invest in litecoin or Bitcoin what I am Telling You is that
there is a high likelihood that their value will go up on the next halving and
there’s a really good reason as to why that is the case and it always has gone
up traditionally and this isn’t like oh well maybe it won’t because you know we
can’t always base it off of the past naturally based on supply and demand if
people still have the same if there’s still the same trade volume if they’re
still the same want for it generally if something is halved supply and demand it
doubles in value generally generally so again do not make any financial
financial decisions based on what I’m telling you but we’re gonna dive into
this and see exactly why it’s so important to make note of these having’s
and how they will affect the price and the value of these currencies so first
we’re gonna look at litecoin and briefly explain what a halving actually is so
what happens essentially is when litecoin is being mined if you don’t
know what mining is you maybe I’ll make a video on that separately but
essentially litecoin and bitcoin are mined by miners who are
creating well there they’re mining using graphics cards to solve complex problems
as a proof-of-work to provide some sort of value that backs the coin and they
they create blocks and then they get the miners get rewards in the form of those
crypto currencies so litecoin the reward for every time they get a block so when
they when they mine a block they get 25 light coins currently every eight
hundred and forty thousand blocks that are mined the reward will half it will
be half as much for the miners and this is to deal with inflation and that there
will only be a limited amount of coins ever produced
I believe the estimate was that bitcoin and litecoin would finish having in
around the year 2000 hundred and forty and 144 for litecoin and bitcoin
respectively I believe that’s what it was and that that that was the last time
I checked it’s it’s really based on an estimate because it’s how many blocks
are being mined so if people stopped mining it will slow down if more people
mine it will speed up and naturally that changes when there is a halving so on
the next having you’ll see here that it’s estimated for 37 days from now on
August 5th in the next having people will get instead of 25 coins for
remaining a block they will get 12.5 coins the reason why that is such a big
deal is that they will be getting way less of an incentive to be mining coins
naturally the reason why this affects the price is that a lot of miners will
stop mining and when there is the same demand for litecoin but a significantly
lower supply of litecoin being generated naturally the price reflects in the
Changez again you don’t have to rely on me being an expert or having some you
know really good degree not that I haven’t gotten a degree but you know
that doesn’t matter all that matters is this is the information we have this is
when it’s going to have you can take this on your own accord and make your
own financial decisions based on this mind you I’ve shifted a lot of my coins
into light coin so that I can really use this having as a litmus test for Bitcoin
this is the first time that I’ve been involved in cryptocurrency and I’ve been
a part of a halving so again this is my speculation in 37 days light coin will
probably shoot up in value because of the halving and after that I’ll probably
be selling a lot of my light coin off I could wait till Bitcoin halves but I
think this will prove to be a very great way to show why the Bitcoin having will
be so significant you know bitcoins been going crazy
lately but I try to not concern myself with where the price is today because
you know I open up my my block folio and it’s like two thousand dollars up and
I’m like oh my god oh my god but I know I’m not even gonna sell into the next
having so then when it drops another two thousand on the same day and I’m like ah
that sucks I I probably shouldn’t be so emotionally invested since I’m trying to
wait another you know 340 days or whatever it might be you can see here on
the Oh like a link these websites it’s just like coin block half and Bitcoin
block half I believe just make sure yeah and Bitcoin block half but they give you
a lot of really useful information that is updating in real time so you know you
can see all the information like how many blocks are there you know what
what’s in circulation you can see here there’s 62 million in circulation and
there will only ever be 84 million ever created almost 75% of the total light
coin has been mined this is what’s left to be mined and this is the current
price you know you get a lot of the good stats that’ll give you a good idea of
where it’s headed but it is very obvious that once it does have something is
going to happen and it’s not gonna go down in value no I can tell you that but
again you know like lately I’ve had a lot of people getting really upset about
me making predictions or speaking about where a coin might go and they’re saying
like that’s pretty risky for you to be saying things like this cuz people are
gonna hold you to it if they invest and it drops and I and
even though I didn’t actually make a value prediction or claim that it would
hundred-percent be the case I gotta stress don’t ruin your life based on me
some random guy telling you this information look at what I’m saying and
make your own conclusions but again only 37 days to the light coin half just so
you know you know and then similarly for basically in the exact same way Bitcoin
is set to have next May on May 20th we’ve got a countdown here very similar
situation you’ve got 85% of all Bitcoin all basically mind we’re at seventeen
point seven million there will only be 21 million ever to be mined so it gives
you a pretty good idea of where we’re at Bitcoin block mining rewards half at
every two hundred and ten thousand blocks the next coin reward will
decrease from twelve point five to six point two five so you can see it’s one
having a head of light coin mind you it’s way older than light coin but you
can see here that it is one having a head and it’s like about 10% ahead of
how much it’s mined so again take all of this into consideration
because this is extremely relative to how the market performs and you know
some people will say that’s speculative but you can go back in time and you can
see when were the last having’s and when did the Bitcoin price shoot up in value
now again this is my opinion this is speculation but I see a very interesting
correlation between when Bitcoin haves and when the price skyrockets so I
honestly used to think that Bitcoin was on some sort of 2-year hype loop where
the media would start to hype it up again and then it would start to gain a
ton of value and and just shoot up and then and then the media would come out
and say ah it’s not good it’s crashed it’s bad and every 2 years or so you can
search for Bitcoin in in mainstream news and every two years or so if you change
the time parameters you’ll see just an insane volume of post talking about it
and naturally it shoots up in value so you can see that now like with the
Bitcoin rally where it went up like two or three thousand and then it dropped
down I saw like five six articles from one outlet on the same day just about
that so you know maybe we’re entering that time now because it is that two
year spectrum and who knows maybe there is some sort of connection to the news
hype and the value I mean that would seem natural but what I realized was
that it was the Bitcoin reward having that was making it go so up just go so
much up drastically in value people are just like oh bitcoins getting really
really hype again well no it was actually because it it doubled in value
more or less because the demand was the same but the supply was halved and
naturally it it just shot up in value and then because all the outlets were
talking about it more and more people were like oh my god this is shooting up
like God invest invest and then it crashes as it always
kind of does with those you know massive gains and then everyone sells off and
then you know that that’s how it’s been going with Bitcoin whereas it breaks a
previous ceiling and then it crashes but it’s crash is usually above the previous
ceiling so you know that’s something to consider if that happens again it’ll
give you an idea of when to buy in and when to buy out again don’t take my word
on it though I’m just telling you what I think based on what I’m looking at and
when I’m reading and information that I have available to me currently so again
guys Bitcoin is gonna be having in you know less than a year on May 20th like
that’s the proposed estimate again that could change you can always come back to
this website check out for yourself you don’t need to rely on what I’m
saying and just to have like interesting stats that you can keep up with that are
being updated pretty useful to just know and yeah I’ll include these in the
description you can go and check this out let me know what you guys think are
you investing in litecoin are you investing in Bitcoin does this change
how you feel about you know the hype cycles or or you know whether or not you
should be investing right now or getting out or what what what do you think let
me know in the comments below I’m sure everyone else would love to see what
everyone thinks about this I’m sure for really advanced crypto investors they’re
like yeah this is just obvious but for a lot of general mainstream you know
crypto users and investors this might be really really interesting powerful
information I didn’t actually really have a grasp on this until more recently
so you know if I didn’t know about it I think I’m sure a lot of people also
didn’t know about it but you know who knows this is still relevant for me to
share with you guys because you know you can benefit off of this but again I know
said it a million times but I have to stress don’t make your
financial decisions based on what I’m telling you I am NOT a financial expert
or a cryptocurrency expert or anything of the sort
I’ve only been investing for you know a little over a year and a half around
there a year and a half two years ish but by no means in mine expert I haven’t
made a copious amount of money but I hope to on the NICS on the next on the
next having so I’ll tell you what I’m going to do before I sign off here I’ll
tell you what I’m going to do I’m going to be focusing on the litecoin having if
it goes really well I’ll be selling them and it will really raise my spirits for
the Bitcoin having and I’ll be preparing all of my portfolio to sell literally
the entire thing when there’s a huge boost if there’s a boost on the Bitcoin
having and then I’ll buy in on the next dip so you know that’s what I’m gonna do
I am NOT a raging success take this as you will you know people can tell me in
a year from now whether or not I was on the money or if I was way off the mark
and I will suffer or or benefit based on what I’m dedicating myself to because
this is a hundred percent the way I’m gonna play it out unless there’s some
insane insane ridiculous change in the price if Bitcoin goes to fifty thousand
plus I’m not waiting on the halving I’ll get in because there’ll be a crash
before the halving if there’s like a massive game but well before then yes I
will get in on that and I will probably sell but my general long-term strategy
for the next year is to wait for this and and use the light coin having as a
litmus test for what I should be focusing my time and money and currency
on so again let me know what you guys think in the comments below I’m Scott
Cunningham aka @scottcbusiness signing off

6 thoughts on “Why You Need To Understand Bitcoin And Litecoin Halvings | EP#126”

  1. What do you think about this? Did you know this? Will you be investing in LTC or BTC? Will this change how you feel about these coins and the crypto market? Let us know in the comments below as we speculate on their values together.

  2. Since 74.37% and 84.71% of the coins have already been mined I think the effect of the halving will be smaller accordingly.

  3. If you look at the previous LTC halving, you will see that the price fell immediately after the halving to a new low and it was basically flat for the year that followed.

    Even worse, the hype caused the price to shoot up to over $7 before the halving and if you bought then hoping to make a profit off the halving, you would have shown a loss until 18 months later when it finally recovered. People buying now risk a repeat of that.

Leave a Reply

Your email address will not be published. Required fields are marked *