Практика Shadowing: Bitcoin Halving Explained (Animated) - Why, How, and What it Means for You! - Изучайте разговорный английский по видео

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We are assuming you've seen Marvel's Endgame, and if you haven't, there will be a small spoiler alert, so don't blame us.

In the movie Endgame, Thanos' main motive is to find all the stones for the Infinity Gauntlet,

and then he wants to be able to snap and wipe away half of the population from the world.

His vision is that with a lower population, there would be less competition, and thus, people would be happier with the same amount of resources.

He believed there was overpopulation and that it was a big problem.

Similarly, around every four years, a certain metric in Bitcoin is cut in half.

Now, you don't have to be a genius to know that if we look forward in the future, there will eventually be a time where that metric is close to zero.

Welcome to Whiteboard Crypto, our YouTube channel where we explain the topics of cryptocurrency using analogies, stories, and examples so that way you can easily understand them.

Today, we want to explain what the Bitcoin halving event is

and what you should expect to see roughly in 2024 and many years after.

So, what is Bitcoin having?

Well, before we get too deep into this video, you need to know basics of how Bitcoin works.

First, let's assume that you know Bitcoin is a cryptocurrency.

Second, let's assume that you know that Bitcoin uses a proof-of-work mechanism, which simply means a bunch of people are competing to solve a problem, and when they win that problem,

they get the reward of some Bitcoin, but they also get the reward of getting to add the next block to the blockchain.

If you don't know what this means, and if you want to learn more, we actually have a specific video about proof of work including what this specific problem that they're solving is.

And third, let's assume that you know Bitcoin was launched in 2009.

So now that you know what these three things are, let's teach you about the halving event.

Every four years, the amount of Bitcoins that are given out as a reward is cut in half.

So in 2009, the rewards of solving a Bitcoin block was 50 Bitcoins.

Actually, all the way from 2009 to 2012,

the block reward was 50 then from 2012 to 2016 The reward for solving the problem was 25 bitcoins

and then from 2016 to 2020 the reward for solving the Bitcoin problem was 12

and a half and now since 2020 all the way to 2024 the reward will be

6.25 bitcoins per block after 2024 you guessed it the reward will be half of 6.25

which is 3.125 125 so moving on what's the reason for this well

if you think about any fiat currency

that you currently carry you can better understand what is happening

Let's take the US dollar for example whenever the United States of America needs more cash

or when it wants to reach certain Economic goals it can print it literally it can print more money

And if the US starts to see

that there's too much in circulation They will print less

and less next year and vice versa

if they think there needs to be more being humans You can probably guess

that we usually print more than we need anyways this ever-increasing The increasing rate of money printing causes something called inflation.

The topic of inflation is a bit out of the scope for this video, but you need to know that it makes the value of your dollar less over time.

If you want to support inflation here on this channel, consider clicking the like button, because as there's more and more likes on this video,

we will require more and more likes to have the same motivation to create another video.

Moving on, Bitcoin is different than US cash though, because it does have a hard limit.

More and more bitcoins get added each day.

However, each day, the clock is ticking down to there being less and less Bitcoins created.

If the price stays the same, inflation will happen, but it doesn't happen at an exponential rate like the US dollar does.

In fact, inflation of Bitcoin happens less and less as time goes on.

Actually, eventually Bitcoin theoretically will become deflationary, meaning as time goes on, there will be less and less of it.

Why?

Because people will probably accidentally send Bitcoin to wallets that they do not have access to, meaning that the total circulating supply of Bitcoin will drop.

And due to this, and due to the law of supply and demand, if demand stays the same, but more Bitcoin is lost each year than the amount that is mined, the price should increase.

That's getting a little technical, so let's move on to how does the Bitcoin halving actually happen.

Well, it's important to note that Bitcoin doesn't use real-world time to determine when to cut miners' rewards in half.

Instead, it uses its own block numbers.

But more about that later.

Bitcoin actually has an internal clock that is just a little off.

It aims so that every 10 minutes, a new block is created, or mined, by the miners.

But you might be asking, what if a ton of new miners join, and then because of that, the block is solved every 5 minutes?

Because there's more people attempting to solve it, and by the law of probability, the rate at which the math problem is guessed is quicker.

What happens then?

Well, Bitcoin has something called a difficulty, and this is how it makes sure that on average it takes 10 minutes to solve a block.

It goes, oh, you have that much mining power?

Well statistically with that much mining power, I'm going to make the problem harder, so that it takes exactly 10 minutes to solve the problem each time.

In other words, Bitcoin makes the problem to solve the block harder

or easier depending on how many miners there were in the last two weeks.

Basically every two weeks it adjusts itself.

That's right, every two weeks, or actually, 2016 blocks, Bitcoin will change its difficulty so that the average block, or the problem that is solved, is solved in 10 minutes.

So that was a little confusing, but you just need to know that Bitcoin has an internal clock, and due to that, we just need one more piece of information,

and that is that Bitcoin halves its block rewards every 210,000 blocks.

And if we use our average block time of each block taking around 10 minutes to solve, what What we get is the average halvening event happens every 4 years.

So what should you do if you own or maybe you're a miner of Bitcoin?

Let's go over that.

As an owner, you don't need to do anything.

Some investors use the halving event as an event to speculate price, as the last few halvings have caused the price to increase.

But this could also be simply due to the fact that Bitcoin is in the news more often, and not because the supply is restricted a little bit.

On the other hand, if you're a miner, you might need to look and see if your operation is still profitable.

As a smaller reward is given out to the same amount of equipment, the large players who have what is called economies of scale,

which are things like large cooling warehouses or solar panel power, those miners might have an edge.

And on the other hand, if a bunch of people stop mining, then the difficulty will drop, which may increase your own profitability.

Either way, we highly recommend you to do your own research and err on the side of caution whenever investing.

This brings us to one last problem.

What happens when it keeps halving and it halves to zero?

Because one day the miner rewards will be so low

that the price of mining may not be worth the rewards that you get from mining it.

What happens then?

Well, we don't really know.

But maybe we can save that question for another video.

So now it's your turn.

What do you think of this halving idea?

Is it good for inflation?

Is it good for the miners?

Do you think it should be increased or decreased?

Was Thanos right snapping half the population away?

We'd love to know your opinions below.

But before fully signing off, I want to take a moment to really thank you guys for watching our videos and supporting us from the comments section.

As the channel has been growing, you all have been our main motivators, and it makes creating this type of content much easier knowing that you guys are there with us along for the journey.

As always, we hope that you enjoyed today's video, we really hoped you learned something, and most importantly, we hope to see you in the next video.

Thank you.

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FOR YOU

Лексика и советы по произношению к этому уроку

В этом видео 94 предложений и 1487 слов для шедоуинга. Речь длится 7:16. Говорящий говорит быстро, около 204 слов в минуту, поэтому звуки часто сливаются и сокращаются. 86% слов входят в 3000 самых частых слов английского языка; остальные стоит разобрать перед занятием.

Ключевая лексика этого видео

15 слов из видео, которые стоит выучить, с произношением и значением:

Слово	Произношение	Значение
reward существительное	/ɹɪˈwɔɹd/	награ́да, вознагражде́ние
solve глагол	/sɒlv/	реша́ть, реши́ть
miner существительное	/ˈmaɪnə(ɹ)/	шахтёр, горня́к
bitcoin существительное	/ˈbɪtˌkɔɪn/	битко́йн, битко́ин
inflation существительное	/ɪnˈfleɪ.ʃən/	инфля́ция
difficulty существительное	/ˈdɪfɪkəlti/	тру́дность, сло́жность
topic существительное	/ˈtɑpɪk/	те́ма, предме́т
snap глагол	/snæp/	лома́ть, слома́ть
metric прилагательное	/ˈmɛt.ɹɪk/	метри́ческий
compete глагол	/kəmˈpiːt/	соревнова́ться, состяза́ться
resource существительное	/ɹɪˈzɔːs/	ресу́рс, запа́с
currency существительное	/ˈkʌɹ.ən.si/	валю́та
roughly наречие	/ˈɹʌf.li/	гру́бо
alert прилагательное	/əˈlɝt/	бди́тельный, внима́тельный
genius существительное	/ˈd͡ʒin.jəs/	ге́ний

Фразовые глаголы, которые вы услышите

Слово	Значение
give out глагол	обнаро́довать, объявля́ть
go over глагол	хорошо́ принима́ться

Произношение, на которое стоит обратить внимание

Говорящий использует 14 сокращённых и редуцированных форм, например don't, doesn't, you're. Произносите их коротко, так, как слышите.

Звуки «sh» и «zh»: inflation /ɪnˈfleɪ.ʃən/, motivation /ˈmoʊ.tə.veɪ.ʃən/, caution /ˈkɔːʃ(ə)n/, circulation /ˌsɝkjʊˈleɪʃən/, deflationary /dəˈfleɪ.ʃənˌɛɹ.i/
Длинные слова — следите за ударением: difficulty /ˈdɪfɪkəlti/, similarly /ˈsɪm.ə.lə.li/, mechanism /ˈmɛk.ə.nɪ.zəm/, accidentally /ˌæk.sɪˈdɛnt(ə)li/, motivation /ˈmoʊ.tə.veɪ.ʃən/

Как заниматься с этим видео

Прослушайте всё видео один раз молча и выпишите незнакомые слова.
Начните со скорости 0,75×, повторяйте предложение за предложением и вернитесь к обычной скорости, когда станет легко.
Запишите себя и сравните с оригиналом, обращая внимание на такие слова, как reward, solve, miner.

Грамматика в этом видео

Конструкции, которые говорящий использует чаще всего, с точными словами из видео:

Конструкция	В видео
Условные предложения if + предложение, will/would + глагол — условие и его результат	if you haven't, there will be
Пассивный залог be + причастие прошедшего времени — важно, что происходит, а не кто это делает	is cut · was launched · are given
Present Perfect have/has + причастие прошедшего времени — прошлое действие, важное сейчас	you've seen · have caused · have been

Что такое техника Shadowing?

Shadowing — это научно обоснованная техника изучения языка, изначально разработанная для подготовки профессиональных переводчиков и популяризированная полиглотом доктором Александром Аргуэльесом. Метод прост, но эффективен: вы слушаете аудио на английском от носителей языка и немедленно повторяете вслух — как тень, следующая за говорящим с задержкой в 1–2 секунды. В отличие от пассивного прослушивания или грамматических упражнений, Shadowing заставляет мозг и мышцы рта одновременно обрабатывать и воспроизводить реальные речевые паттерны. Исследования показывают, что это значительно улучшает точность произношения, интонацию, ритм, связную речь, понимание на слух и беглость речи — что делает его одним из самых эффективных методов для подготовки к IELTS Speaking и реального общения на английском.

Техника шедоуинга: читать полное пошаговое руководство →

Практика Shadowing: Bitcoin Halving Explained (Animated) - Why, How, and What it Means for You! - Изучайте разговорный английский по видео

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