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Bitcoin halving has finally occurred! And the last block before the halving contained a mysterious message.

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Bitcoin halving has finally occurred! And the last block before the halving contained a mysterious message.

The highly anticipated third Bitcoin halving took place at 3:23 AM Taiwan time on May 12th, when the block height reached 630,000, officially reducing the current Bitcoin block reward from 12.5 to 6.25. Interestingly, a hidden message paying tribute to Bitcoin and Satoshi Nakamoto was embedded in block 629,999.

Secret Message in Block Height 629,999

A secret message was input into the Coinbase data of block height 629,999, referencing a headline from The New York Times on April 9th of this year:

"The New York Times, April 9, 2020, injected $2.3 trillion, far exceeding the 2008 rescue level of the Federal Reserve."

source:NYTimes

This block was mined by the largest Bitcoin mining pool, F2Pool, and was also the last block to receive a 12.5 BTC reward in history.

Inputting text into a block seems to be a tribute to Bitcoin and Satoshi Nakamoto. In the Bitcoin "Genesis Block," the first Bitcoin block in history, a similar message was included. In theGenesis Block of Bitcoin, Satoshi Nakamoto left the headline of the front page article of The Times that day:

"On January 3, 2009, the Chancellor on the brink of second bailout for banks."

Any data stored on the blockchain will be permanently saved as long as the Bitcoin system does not disappear, and these two messages will become iconic pages in Bitcoin history.

US Dollar Inflation, Bitcoin Halving

In 2020, the Federal Reserve issued a large amount of US dollars to mitigate the impact of COVID-19 on the economy. While this practice temporarily rescued the US financial market, it also laid hidden dangers for the global economy in the coming years. The Federal Reserve's aggressive monetary policy prompted Wall Street legend Paul Tudor Jones to support Bitcoin and allocate 1-2% of his net assets into it.

On the other hand, researchers at the cryptocurrency research platform Messari released a comparison chart of the Federal Reserve's monetary base and the Bitcoin market supply after the Bitcoin halving, stating, "This is the importance of halving."

Additional Reading

  • Wall Street Giant Enters! Paul Jones: If I had to choose a profit-maximizing strategy, I would choose Bitcoin
  • The Third Halving is Here, Analyst Willy Woo: Exchanges will become the main sellers of Bitcoin

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