World Cup comes once every 4 years and people all over the world get crazy over it although it does not in any way affect their lives.
Bitcoin reward halving also comes once in about every 4 years and hardly anyone outside the crypto world pay any attention to it although the underlying blockchain technology IS changing the world.
So on this very day, in fact just hours away the reward per block is going to be halved from 25 to 12.5 bitcoins.
This means for the same amount of work done by the miner with ever increasing operational costs and difficulty the reward is going to be just 50% of the previous cycle.
What would you do to cover the costs if you are a miner?
If the price of bitcoin does not go up to reflect this then some of the miners may turn their machines off or even just go out of business.
However if the price goes up accordingly then life goes on just like any other day for the miners.
Well if you look at the chart the price has already reflect the increasing costs months before today.
For the long term holders their patience are duly rewarded.
For the short term speculators however, what actually happens might not always match their anticipations.
