Benzinga 01: Difference between revisions
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=Bitcoin-Inspired Hard Digital Assets on the Ethereum Network: A New Frontier= | =Bitcoin-Inspired Hard Digital Assets on the Ethereum Network: A New Frontier= | ||
Bitcoin is the first hard digital asset in history, the proof of work mechanism effectively converts energy into currency by a process referred to as "mining". | |||
It's cost of production connects it to the real world economy providing a fundamental value behaving like a physical commodity. | |||
Mining is a way to create new coins without a central mint of trusted parties. In order to make sure that only a finite number of bitcoins will be created, the mining supply of new coins is cut in half approximately every four years, an event called Bitcoin Halving. | |||
A key observation in crypto is that the Bitcoin Halving has introduced seasonality in the cryptocurrency markets. This is hard to see due to the large price fluctuations, but if we look at the Bitcoin price history on a logarithmic scale, a pattern emerges: | |||
[[File:Halvings Log.jpg |800px|left]] | |||
Revision as of 00:31, 16 July 2024
Bitcoin-Inspired Hard Digital Assets on the Ethereum Network: A New Frontier
Bitcoin is the first hard digital asset in history, the proof of work mechanism effectively converts energy into currency by a process referred to as "mining". It's cost of production connects it to the real world economy providing a fundamental value behaving like a physical commodity.
Mining is a way to create new coins without a central mint of trusted parties. In order to make sure that only a finite number of bitcoins will be created, the mining supply of new coins is cut in half approximately every four years, an event called Bitcoin Halving.
A key observation in crypto is that the Bitcoin Halving has introduced seasonality in the cryptocurrency markets. This is hard to see due to the large price fluctuations, but if we look at the Bitcoin price history on a logarithmic scale, a pattern emerges:
GPT Title Variations
"Exploring Hard Digital Assets: How Bitcoin-Inspired Innovations Thrive on Ethereum" "Bridging Blockchains: The Rise of Bitcoin-Inspired Digital Assets on Ethereum" "From Bitcoin to Ethereum: The Evolution of Hard Digital Assets" "Hard Digital Assets: Harnessing Bitcoin’s Principles on the Ethereum Blockchain"