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May 12, 2020

So There You “Halve” It

So There You “Halve” It


OK, so the Third Halving in Bitcoin’s 11-year existence has just passed.

Let history show that it occurred precisely at 3:23 PM EST on May 11,2020.

If you were paying any attention to all the pre-halving talk, you may feel let down. Other than a little extra volatility, nothing seemed to happen.

However…in fact, something BIG and IMPORTANT did indeed occur, the implications of which we will discuss later in this article.

But first, let’s talk about what the Halving actually is…

As built into Bitcoin’s algorithm, the mining block reward is cut in half after each 210,000 blocks are mined. With each block averaging about 10 minutes to produce, these halving events occur every four years.

So why are these “milestones” so important? Why all the hype?

Because they have a direct impact on the miners, who are the backbone of the entire Bitcoin ecosystem.

And the miners’ reward is suddenly HALF of what it was yesterday.

Imagine if your salary got automatically cut 50% every four years!

The only way you would stay in that job was if the value of your earnings doubled to make up for the cut. Your dollars would have to buy twice as much goods and services as they did in the previous four years.

(We all know that doesn’t happen with the U.S.Dollar or ANY fiat currency…Quite the opposite!

Every single government-issued currency has consistently lost value over time, mainly due to inflation but also to the loss of faith in the governments themselves.)

Now back to the miners…

What happens after these halvings is that the inefficient miners become unprofitable and have to temporarily or permanently close shop.

The efficient miners can go on, at least for awhile…

But occasionally the price of Bitcoin stays depressed for a long time, and more miners shut down.

You may think that this would put the Bitcoin network at risk, and you would be correct…

However, the beauty of Bitcoin’s protocol is that it self-adjusts in these situations.

You see, the difficulty level to solve the mathematical puzzle for creating the next block becomes lower, so it takes less computing power and energy to solve.

Hence, the rewards become easier and more profitable.

This brings more miners back into the network, as the profit potential increases.

In turn, the “hash power” (the mining speed and efficiency) of the network increases, which makes the whole system stronger and more secure.

Because of its limited ( and self-limiting) supply, eventually the price of Bitcoin MUST rise in order to allow miners to make a profit and keep the whole ecosystem running and growing.

If you look at the entire history of Bitcoin’s price over those 11 years, it has inevitably trended upward (as it must because of the halvings).

As Philip Swift(Twitter/@PositiveCrypto) has pointed out, Bitcoin’s price has actually been positive in over 95% of its trading days!

No other asset class can claim that!

Every other asset in the world has an annual inflation of its supply. Even gold averages around 2%.

Bitcoin, by contrast, is reducing its new supply by 50% every four years, predictably and without exception.

OK, this is all well and good, but why should we care if we’re not miners?

Well, if history is any guide, Bitcoin’s price has increased tremendously after each previous halving — by greater than 13,000% in 2012 and over 12,000% in 2016!

There are many arguments for and against the Third Halving having a similar effect.

No matter what argument you favor, wouldn’t it be prudent to have at least some small percentage of your portfolio in Bitcoin (and perhaps some other crypto assets)?

Are you OK with the possibility of missing out on astronomical gains because you sat on the sidelines and played it safe?

As an additional insight into the big picture of why Bitcoin is so timely and important, embedded in the final block before this Third Halving was a message:

“NY Times 09/Apr/2020 With $2.3T Injection, Fed’s Plan Far Exceeds 2008 Rescue.”

This was obviously an homage to Satoshi Nakamoto, the pseudonymous inventor of Bitcoin, who included a contemporaneous headline in the first ever (genesis) block of Bitcoin in 2009:

“The Times 03/Jan/2009 Chancellor on brink of second bailout of banks.”

You couldn’t have written a more compelling script for why the world needs Bitcoin!

In summary, as for consideration of Bitcoin as a possible investment, here are the salient points from this discussion:

  • An asset that was specifically created during a global financial crisis and made to preserve value
  • Scarce, and getting consistently scarcer
  • Persistently rising price throughout its history
  • Past history of incredible price gains after each previous Halving Event
  • The ONLY asset that cannot be inflated

I, for one, am happy to take this asymmetrical bet!

(NOTE: I just published this article today on Medium.)

lf you would like to learn more about the tremendous potential of Bitcoin, Cryptoassets, and Blockchain Technology and keep abreast of the latest developments, sign up for our FREE Email Crypto Insights at www.cryptoinfoconsolidator.com.

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Top 10 Cryptos by Market Cap (Updated Daily)

Name Price24H (%)
Bitcoin (BTC)
Ethereum (ETH)
Binance Coin (BNB)
Tether (USDT)
Litecoin (LTC)
Bitcoin Cash (BCH)
Tezos (XTZ)
Bitcoin SV (BSV)

Frequently Asked Questions

Where does Bitcoin and other cryptoassets get their value? Are they money?

Bitcoin was set up to be a decentralized, trustless, immutable source of value. It allows peer-to-peer transfer of value between anyone anywhere in the world. There is a finite amount of bitcoin that will ever be created, and as its usefulness increases, so will the value. As with all forms of “money”, it is based on the faith of those who use it. It has been invented as a better form of money than fiat currencies, since it can’t be controlled, manipulated, or printed out of thin air like government money can. The vast majority of “money” and transactions globally is digital;Bitcoin has been developed to be the ultimate digital currency and store of value.

Other cryptoassets (i.e.,”altcoins”) are often very different from Bitcoin, but most are set up as variations of blockchain technology and distributed ledger technology. Their value comes either from use as a utility (like fuel or electricity), security ( like stocks or real estate) or stability (tied to the value of a currency, precious metal, or commodity). There are now third-generation cryptoassets being developed with even more advanced capabilities.

Just as the Internet spawned huge companies and platforms, so to will cryptoassets utilizing the latest blockchain and associated technologies. There will almost certainly be new “ Googles” and ”Amazons” of the crypto asset market.

Can the U.S. or other country’s government shutdown or outlaw cryptocurrency ownership or trading?

Bitcoin is so decentralized throughout the world that it would be impossible for any government to shut it down. A government can certainly outlaw trading on crypto exchanges in its country, but crypto users would be able to trade on exchanges outside the country. Just like the Internet, people always find a way around restrictions. The other important thing to consider is that blockchain technology, the underlying platform of Bitcoin and other cryptocurrencies, is an enabling technology, just like the Internet. Any country that would outlaw use of cryptos would only be setting itself up for lagging the rest of the world, thus doing itself and its citizens irreparable harm.

How much time does it take to get up and running with Bitcoin and cryptoassets?

This subscription has been specifically developed with the intention of giving any individual the knowledge and guidance to understand cryptoassets and get started as quickly and safely as possible. Once you have receive the introductory information and portfolio details, you will be guided to the best places and methods for setting up accounts. To begin with, you will need to have at least three different exchange accounts, which will give you access to buying and trading the vast majority of our portfolio recommendations. Each account will usually take up to an hour to set up.

Why shouldn't I wait until a Bitcoin/cryptocurrency ETF or mutual fund is available, rather than the hassle of setting up several accounts for buying, trading, and storing cryptos?

First off, there is presently no available crypto ETF or mutual fund available for individual investors.

Secondly, as of this writing, there is no definite timetable as to when one will be available.

Thirdly, the initial crypto funds will invariably deal only with bitcoin and possibly a handful of the larger, more established cryptocurrencies. They will not give you access to the smaller, newer, more advanced cryptos, some of which will be the biggest winners.

However, the main reason for not waiting is that by the time one is approved and available, a significant profit potential may be gone. Just remember, the whole reason the crypto asset market is still small is because it is so strange and tedious for the individual to understand and maneuver, and the infrastructure and regulations are not yet fully set up for the “big money” (institutional investors, hedge funds, pension funds, private equity, etc.) to enter. We, as the “small guys”, for once have a distinct advantage – we can get in before the big boys can! There has probably never been that opportunity with such an important emerging technology before! It is up to you to take advantage, and this subscription service is designed to be the easiest, most focused, and most inexpensive means of getting in early.

How much should I invest in Bitcoin and/or altcoins, and which ones to buy?

Again, this subscription is specifically designed to address these issues at the outset. Even though I personally can’t give any individual advice or recommendations, you will get the benefit of all the experts’ recommendations. In addition, the various cryptoassets in the portfolio will be divided into several categories, from “blue chip” cryptos all the way to “speculative” small cap ones with the highest risk but highest reward potential. You will be able to design your own crypto portfolio from the most conservative to the most aggressive, depending on your investment goals and risk tolerance.

How do I know the best time to buy or sell a particular crypto asset?

One of the most valuable parts of this subscription is expert guidance on evaluating the crypto cycles, which has been very accurate and timely in ascertaining when they reach tops and bottoms. I have been amazed at how accurate these experts have been, and it has allowed me to avoid getting in or out at the wrong times. As a subscriber, you will have all this information presented to you in a timely manner for you to determine when you may want to buy, sell, or hold a given crypto asset. It has been invaluable to me, and allowed me to be patient when the crypto market gets extremely volatile.

How will I know if there is breaking news on Bitcoin or other cryptoassets I own?

You will be sent alerts on significant news or changes in the crypto market or on a specific portfolio holdings as they are made known. It is of course impossible to follow every piece of news on every crypto; what we will be looking for are the important items. You will be given website apps that allow you to track news on any individual crypto asset anytime you wish.

I understand that you get your crypto knowledge and advice from several different crypto research groups. Can you name them or tell me where you find them?

Since I have spent over two years and hundreds of hours researching the crypto space, I’ve come across many different research groups and subscriptions, some excellent and many not so good. I personally selected those with what I believe to have a unique insight based on their evaluation methods. Several were new additions to other investment groups to which I already subscribed. Since the crypto market and technology is so revolutionary and rapidly developing, I discovered that there was no one expert who had the ability to understand and evaluate the whole space. Therefore, one-by-one, I invested in these additional various subscriptions.

After spending so much time and effort doing this for myself, I realized how valuable this information would be to others like me looking to get some guidance in this confusing and complex asset class. Thus, this subscription service was born! To my knowledge (and i looked!) there is no other service of its kind in the marketplace.

For the above reasons, I consider this work proprietary, and cannot name the individual research groups to which I subscribe. I will never plagiarize or violate copyrights from their newsletters. I am a merely filtering and consolidating, always in my own words, the information and advice into one easy- to- use place.

Anyone can, of course, search for themselves and find a crypto subscription service. However, you will only get one insight into the market, and will almost assuredly pay more for that one insight than getting the benefit of 11 different insights with this subscription. I had to do it the long, hard way, and I wish I could have had a service like I am offering as a concise, actionable guide to crypto investing.

What are the tax consequences of buying and selling cryptos?

You must understand that “cryptocurrencies” are not one entity; there are several types. It is so confusing to the authorities that it has been classified variously as property, a security, or a commodity, each of which has a different tax treatment.In fact, some cryptos are one kind, others are a hybrid. Presently the IRS considers it “property”. This problem is an evolving issue, and this service will do its best to keep you informed as to the latest.

Can I hold cryptocurrencies in a retirement account?

Yes. There are several choices on the market today, each with its own pluses and minuses. Our subscription service will be able to list some of the best ones for your consideration.