Content:
Bitcoin Halving 2024 Is Complete
Personal Journey Update
Weekly Fact
Quote of the Week
Bitcoin Halving 2024 Is Complete
Bitcoin has successfully completed its fourth halving event, reducing miners' block rewards from 6.25 to 3.125 BTC. This event, known as "the halvening," occurs approximately every four years.
Key Points:
Reduction in Block Rewards:
Miners will now receive 50% fewer BTC for each block mined, slowing down the rate of Bitcoin creation. Daily production will decrease from an average of 900 BTC to 450 BTC.
Historical Context:
This marks the fourth halving event for Bitcoin, following previous ones in 2012, 2016, and 2020. Each halving has significantly reduced mining rewards over the past decade, shaping the dynamics of the Bitcoin ecosystem.
Future Outlook:
The next halving is projected to occur at a block height of 1,050,000, most likely in the first quarter of 2028. Halving events will continue until around 2140 when the last Bitcoin is mined, highlighting the finite nature of the cryptocurrency.
Impact on the Crypto Space
Preparations in the Mining Industry:
BTC mining firms, especially in the United States, have been adjusting their operations in anticipation of the halving. Many are upgrading equipment to remain profitable in the face of reduced block rewards.
Speculation on Price:
There are divergent views on how the halving will affect Bitcoin's price. Optimistic projections suggest significant price increases, with some bullish forecasts reaching as high as $1 million. Conversely, bearish outlooks cite increased production costs and mining difficulties that could lead to a price decline.
Market Performance:
Despite recent challenges, investors hope that the halving event will act as a catalyst for Bitcoin's price growth. Positive sentiment surrounding Bitcoin could extend to other cryptocurrencies, driving broader market optimism.
Personal Thoughts:
It’s simple math.
More demand along with less supply = Supply shock (Price go up over time)
There has never been more demand for Bitcoin than now. With the new Bitcoin ETFs, more people are investing in Bitcoin than ever before.
I don’t think we will see a price surge just yet, I think it will be more gradual over the next year like we have seen in the past.
TikTok Unveils Instagram Competitor, TikTok Notes
TikTok has made a bold move by launching its own competitor to Instagram, known as 'TikTok Notes.' This new photo-sharing app aims to diversify TikTok's offerings and compete directly with established platforms like Instagram.
Key Points:
Limited Rollout:
Initially, TikTok Notes is being tested in Australia and Canada on both iOS and Android platforms. This limited rollout allows TikTok to gather feedback and fine-tune the app's features before a wider release.
Dual Homepage Sections:
The app's homepage features two main sections: one where users can view posts from people they follow and another "For You" page for discovering new content. This structure mirrors TikTok's successful content discovery model.
Similarities to Instagram:
Despite its unique features, TikTok Notes bears a striking resemblance to Instagram, with a focus on photo sharing. However, TikTok adds its own twist by allowing users to write headlines for images above their captions, distinguishing it from its competitors.
Expansion of TikTok's Offerings:
TikTok's foray into photo sharing is part of its broader strategy to expand its platform beyond short-form video content. Over the past few years, TikTok has experimented with various features like the TikTok shop and long-form video to compete with social media giants like Meta and YouTube.
Personal Thoughts:
This could be a great platform to use for getting your substack out there.
I have been trying to find ways to get my substack in front of more eyes so this sounds like a great opportunity to try once the platform is released here in the UK.
Musk Driving Tesla Investors Crazy
Tesla, under the leadership of Elon Musk, has recently made headlines with significant changes within the company.
Key Points:
Massive Layoffs:
Last week, Tesla announced its largest round of layoffs to date, affecting approximately 10% of its workforce, equivalent to around 15,000 employees worldwide. This move underscores significant restructuring efforts within the company.
Executive Departures:
On the same day as the layoffs, two high-profile executives, Rohan Patel and Drew Baglino, decided to depart from Tesla. Their resignations signal further shake-ups and "big overall changes" within the company's leadership.
Concerns Over xAI:
Elon Musk's AI startup, xAI, has been a source of concern for investors and onlookers. Originally intended to enhance Tesla's AI capabilities, xAI's separation from Tesla raised questions about Musk's intentions and focus.
Talent Redirection:
Musk's decision to transfer a lead Tesla engineer to work for xAI, amidst Tesla's efforts to fend off poaching attempts from other companies, has raised eyebrows. The redirection of talent suggests a shifting priority away from Tesla towards xAI.
Fundraising for xAI:
Musk's fundraising efforts for xAI, aiming for a $15 billion pre-money valuation, indicate a significant focus on the AI startup. This move has sparked concerns about Musk's divided attention and its impact on Tesla's future.
Investor Frustration and Confusion:
The series of developments surrounding Tesla and xAI have left investors frustrated and confused, as they grapple with uncertainties about Tesla's direction and Musk's priorities.
As Tesla navigates through these changes, investors are closely monitoring the situation, hoping for clarity and stability in the company's strategic direction.
Personal Journey: Earning Gratification
I’ve been slogging away in the garden this weekend.
Jet washing my fences, spraying and scrubbing them down to clean up then painting a coat of protection to help them stay looking fresh.
It’s hard work but man does it feel good to be productive and do jobs for yourself that offer a result at the end.
The gratification of learning to do something, putting it into practice and then seeing the results all in one day is so rewarding.
No better feeling.
I spent Sunday morning doing some more chores but now as I’m writing this I’m using the second half of the day to rest up, so I’m ready for another busy week at work.
Doing jobs around the house really is a great way to put your weekends to use. That feeling of being productive with a result at the end allows you to rest knowing you’ve earned it.
Make sure you do get a rest though otherwise, you’ll feel it during the week when you’re back at work.
Hope next week for everyone is a great one.
Weekly Fact
The first Apple logo isn’t what you would think.
Originally, it featured Sir Isaac Newton sitting beneath a tree, with an apple about to fall on his head.
It was designed back in 1976 and featured a phrase around the border that read “Newton…A mind forever voyaging through strange seas of thought…alone”.
Quote of the Week
Let me know any ways you think this newsletter can be improved.
Also, feel free to drop your newsletter links down below, I’m always grateful for more inspiration.
Monday morning here in South Africa :) It seems like you had a busy weekend.
https://richardschulz.substack.com/