Simply earlier than Bitcoin skilled its third halving, which lower the block reward from 12.5 BTC to six.25 BTC, the miner who extracted the cryptocurrency’s ultimate block had a particular message for all HODLers.
F2pool, the miner answerable for the extraction of block 629,999, printed a New York Times headline into the Bitcoin (BTC) blockchain simply previous to the halving on Might 11.
The ultimate Bitcoin block with a subsidy of 12.5 BTC was mined by @f2pool_official and contained the next message in its coinbase transaction:
🐟NYTimes 09/Apr/2020 With $2.3T Injection, Fed’s Plan Far Exceeds 2008 Rescuehttps://t.co/9dtTrC8YH6
— Jameson Lopp (@lopp) May 11, 2020
Studying “NYTimes 09/Apr/2020 With $2.3T Injection, Fed’s Plan Far Exceeds 2008 Rescue”, the coinbase transaction message pays homage to an article within the well-known newspaper by Jeanna Smialek and Peter Eavis, which factors to the present monetary disaster in comparison with the state of affairs in 2008.
Earlier than Satoshi Nakamoto created Bitcoin in the course of the 2008 monetary disaster, authorities bailouts weren’t precisely a part of Individuals’ lexicon. It appeared like virtually in a single day that the housing market had collapsed, inventory costs have been in turmoil, and unemployment soared. Beneath President Barack Obama, the Fed launched practically $500 billion price of emergency lending packages to stem the tide.
Practically 12 years later, and america is going through arguably the worst bipartisanship beneath Trump, a pandemic that has already killed nearly 300,000 worldwide, and a monetary disaster exacerbated by each. The measures proposed by the Fed — a $2.three trillion bailout — might likewise have an effect on the worldwide crypto market in methods no HODLer can probably think about now.
All members of the crypto neighborhood can look again at f2pool’s homage and warning when the fourth halving happens in 2024.
