Bitcoin Black Friday in upon us, but The Bitcoin Halving is just around the corner. In anticipation of the event, Crypotart is excited to release a new art piece entitled “Bitcoin – The Halving” by artist Christina Hess. Additionally, we’ve come up with a unique way of alleviating concerns of missed opportunity when paying with Bitcoin — a full refund if the price of Bitcoin trades above the all time high before the Bitcoin Halving Event.
“The Bitcoin Halvening” as some call it, is an event that occurs approximately every four years and signifies a reduction in the rate in which new bitcoins are released. Sometime in July of 2016, the amount of bitcoin released in each new block will drop from 25 to 12.5. Since new blocks are generated on average every ten minutes, this represents a significant reduction in the dilutive effect of new bitcoin. 75% of all bitcoin that will ever be created will be released by this point.
“Many people feel like the price of Bitcoin will go up as we approach the event. We don’t want Bitcoin customers to feel like they are missing an opportunity by spending their BTC. This is why we are offering a full refund if Bitcoin reaches a new high.” says Cryptoart Founder Troy Fearnow.