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What is Crypto
Imagine a world where every four years, a valuable resource becomes even scarcer. That’s the driving force behind one of the most critical mechanisms in the Bitcoin network—the Bitcoin Halving. Much like how the rarest commodities hold the highest value, Bitcoin’s built-in scarcity is designed to protect its worth and, for many, fuel its potential as “digital gold.” This lesson isn’t just a technical exploration; it’s a story of economic principles, human psychology, and the future of decentralized finance. Whether you’re a seasoned crypto enthusiast or just beginning your journey through the Crypto Is FIRE (CFIRE) program, understanding Bitcoin’s halving mechanism is key to unlocking the dynamics of supply and demand in this revolutionary digital asset.
But beyond the numbers and technicalities, what does this all mean for the future of finance? How does this event tie into the broader world of cryptocurrencies and traditional economic theories? Let’s dive in to not only explain the mechanism but to critically analyze its broader implications for the crypto market—and perhaps for financial systems at large.
At the heart of this lesson is the concept of Bitcoin halving, an event that happens roughly every four years, where the reward for mining Bitcoin is cut in half. Initially, miners were rewarded with 50 Bitcoins per block, but after successive halvings, this reward has dropped to just 6.25 Bitcoins, with the next reduction set to bring it down to 3.125 in 2024. The halving process is built into Bitcoin’s protocol to ensure that its total supply remains capped at 21 million. As fewer Bitcoins are produced, the theory goes, their scarcity should increase their value—provided demand remains constant or grows.
This mechanism serves as a stark contrast to fiat currencies, which can be printed at will by central banks, often leading to inflation. Bitcoin, on the other hand, presents itself as a deflationary asset with an ever-dwindling supply. The video highlights how this scarcity plays into supply and demand dynamics, making Bitcoin a potentially inflation-resistant store of value.
But while halving creates excitement and speculation in the crypto community, it also raises questions: How will miners survive on fewer rewards? What happens when the reward eventually drops to zero? And most importantly, how does this controlled scarcity shape Bitcoin’s place in the broader financial world?
These five key points summarize the main concepts of Bitcoin halving and why it plays a crucial role in maintaining the cryptocurrency’s value. Let me know if you need further details on any of these topics.
1. Scarcity as a Value Proposition
One of the most compelling arguments made in this lesson is the idea that Bitcoin’s controlled scarcity inherently drives its value. Much like precious metals such as gold, which are valuable due to their finite supply, Bitcoin’s halving ensures that it becomes more difficult to obtain as time progresses. This creates a built-in deflationary force—making it an attractive hedge against inflation, especially in uncertain economic times. In a world where central banks can print unlimited fiat currency, the concept of a fixed supply becomes even more alluring to investors seeking long-term stability.
2. Decentralization and Market Forces
The decentralized nature of Bitcoin is another powerful point emphasized in the lesson. Unlike traditional financial systems where monetary policy is dictated by central authorities, Bitcoin’s halving operates according to pre-set rules, immune to external manipulation. This decentralized approach creates a level playing field for all participants, with the difficulty adjustment mechanism ensuring that blocks are mined at a steady pace regardless of market conditions. This self-correcting system mirrors free-market dynamics, where supply and demand regulate themselves without the need for a centralized authority.
3. Historical Precedents of Price Increases
The video effectively underscores how previous halving events have historically led to significant increases in Bitcoin’s price. While correlation doesn’t imply causation, the anticipation of reduced supply—combined with increased media coverage—has often sparked a bull market following halving events. This historical context gives credence to the argument that halving plays a significant role in Bitcoin’s price cycles, making it a key event for investors and traders alike to watch.
1. Miner Profitability Concerns
One of the major concerns that the lesson hints at, but doesn’t fully explore, is the issue of miner profitability. As the block reward halves, smaller miners with less efficient operations may struggle to stay profitable, especially when competing against larger entities that can leverage economies of scale. This could potentially lead to the centralization of mining operations, with only the largest players able to stay in the game—thereby undermining Bitcoin’s decentralized ethos.
2. Dependency on Speculation
Another limitation is the heavy reliance on speculation around halving events. While previous halvings have resulted in price surges, it’s important to note that this may not always be the case. Speculative bubbles could form as a result of irrational investor behavior, leading to price volatility that isn’t necessarily tied to Bitcoin’s intrinsic value. The lesson touches on this briefly, but a deeper dive into the risks of speculative hype would provide a more balanced view of halving’s impact on the market.
3. Long-Term Viability Post-Reward Era
The lesson leaves a critical question unanswered: What happens when the block reward drops to zero? When Bitcoin’s reward system is entirely based on transaction fees, will miners still find it profitable to secure the network? This is a complex and unresolved issue that deserves more attention, as it could significantly impact Bitcoin’s long-term security model.
Bitcoin as Digital Gold
The concept of Bitcoin as “digital gold” directly ties into the idea of halving. In traditional finance, gold’s value has long been upheld by its scarcity and difficulty to mine. Bitcoin mirrors these properties in the digital world. Each halving reduces the flow of new coins into the market, just as fewer and fewer new gold reserves are discovered each year. This scarcity is one of Bitcoin’s strongest value propositions, especially in contrast to inflationary fiat currencies.
Decentralized Finance (DeFi) and Supply Mechanics
In the world of DeFi, scarcity mechanisms similar to Bitcoin’s halving are being explored across various protocols. For example, some decentralized platforms use token burns or reduced rewards over time to create deflationary pressure on their tokens. These principles are derived from Bitcoin’s halving model but applied in more complex ways to govern decentralized lending, borrowing, and staking platforms. The Crypto Is FIRE (CFIRE) program places a heavy emphasis on understanding such scarcity mechanisms, as they are crucial to navigating the DeFi space.
Proof of Work vs. Proof of Stake
Bitcoin’s halving is intimately tied to its Proof of Work consensus mechanism, where miners are rewarded for solving cryptographic puzzles. However, in contrast, many newer blockchain projects have moved toward Proof of Stake (PoS) models, where validators are chosen based on their stake in the network rather than computational power. While PoS eliminates the need for halving events, it introduces different forms of scarcity—validators need to “lock up” large amounts of the native token, thereby reducing the circulating supply.
The Long-Term Impact of Bitcoin’s Deflationary Model
As Bitcoin’s supply becomes increasingly scarce, it has the potential to reshape global financial systems. Its deflationary model stands in stark contrast to the inflationary tendencies of fiat currencies. As more investors look for safe havens from economic instability, Bitcoin could see broader adoption, not just as a speculative asset but as a legitimate store of value. This trend could challenge the dominance of traditional financial institutions, pushing them to rethink monetary policy.
The Future of Mining
The future of Bitcoin mining in a post-reward era is a critical issue. As rewards decrease, transaction fees will need to rise to incentivize miners to secure the network. However, if fees become too high, it could make Bitcoin less attractive for everyday transactions, potentially relegating it to a high-value settlement layer rather than a currency for day-to-day use.
Societal Impacts of Decentralized Scarcity
Bitcoin’s halving mechanism also speaks to a broader societal shift toward decentralization and scarcity-driven value systems. In a world of limitless digital content and overproduction, the concept of scarcity—whether in assets like Bitcoin or even tokenized art (NFTs)—introduces a new paradigm. This shift could redefine how we assign value to goods and services in an increasingly digital economy.
From my perspective, the genius of Bitcoin halving lies in its simplicity. It’s a mechanism that mirrors some of the oldest economic principles—supply and demand—yet it’s packaged in a modern, decentralized system that operates without the need for centralized control. I’ve seen firsthand how halving events galvanize the crypto community, creating a sense of excitement and anticipation.
However, I also believe that the focus on halving can sometimes overshadow other critical issues in the space, such as network security and scalability. While halving may boost Bitcoin’s price, it’s essential to keep an eye on the underlying infrastructure. As the network grows, we’ll need to address challenges like high transaction fees and miner centralization to ensure that Bitcoin remains viable in the long term.
The Bitcoin halving is more than just a technical event—it’s a pivotal moment that reflects the core principles of decentralization, scarcity, and market dynamics. As we move toward the next halving in 2024, the lessons from previous events will shape our understanding of how supply and demand drive value in the digital age. For those following the Crypto Is FIRE (CFIRE) program, this lesson serves as a foundation for exploring deeper crypto principles. The future of finance is being built block by block, and understanding halving is a critical step in navigating that future.
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Encouragement: You’re now equipped with the fundamentals of Bitcoin halving. Keep going—there’s so much more to learn about the mechanisms driving the crypto world. Don’t miss the next lesson in the Crypto Is FIRE series, where we’ll dive into the fascinating world of decentralized finance!
Imagine a world where every four years, the amount of a valuable resource is cut in half. That’s exactly what happens with Bitcoin in an event known as the Bitcoin Halving. This scheduled event impacts Bitcoin’s scarcity and has long-term implications for its price, mining profitability, and overall market dynamics. In traditional finance, inflation is a key issue, but in Bitcoin, halving is a designed mechanism that counters inflation and creates deflationary pressure. This lesson will delve into the details of Bitcoin halving and explore its impact on the cryptocurrency world, including its potential for shaping future markets.
By understanding how halving works and why it matters, you will gain insight into one of the fundamental forces behind Bitcoin’s value. As part of the Crypto Is FIRE (CFIRE) training plan, this lesson is essential for anyone looking to understand how Bitcoin’s supply mechanics differ from traditional currencies and why this matters for both investors and miners.
Bitcoin Halving
Proof of Work (PoW)
Block Reward
Difficulty Adjustment
Supply and Demand
Key Points:
Explanation: The Bitcoin network is programmed to cut the reward for mining new blocks in half approximately every four years. Initially, miners received 50 Bitcoins per block; this was reduced to 25, then 12.5, and now stands at 6.25 Bitcoins per block. After the next halving, miners will receive 3.125 Bitcoins. This process will continue until all 21 million Bitcoins are mined.
Crypto Connection: This halving process is crucial for Bitcoin’s scarcity. Unlike fiat currencies that can be printed endlessly by governments, Bitcoin has a fixed supply. As fewer Bitcoins are mined, the scarcity could drive up its price if demand holds steady. Investors who understand halving can better predict when significant price changes might occur, aligning their strategies with the CFIRE training.
Key Points:
Explanation: Bitcoin uses a Proof of Work consensus mechanism, where miners solve complex cryptographic problems to validate transactions. In return, they are rewarded with newly minted Bitcoin. As more miners join the network, the difficulty of solving these problems increases, ensuring the network remains stable.
Crypto Connection: In the traditional financial world, companies might reward shareholders with dividends. Similarly, miners are rewarded with Bitcoin. However, as the halving cuts these rewards, only the most efficient miners (those with economies of scale) will be able to maintain profitability. This lesson in efficiency is critical for anyone entering the crypto mining space.
Key Points:
Explanation: Halving directly impacts Bitcoin’s supply. As the amount of new Bitcoin entering the market is reduced, the scarcity increases. In traditional markets, when supply decreases but demand remains constant or increases, prices rise. The same principle applies to Bitcoin.
Crypto Connection: Many investors see halving as a bullish event. Historically, each halving has led to a sharp increase in Bitcoin’s price. The CFIRE plan encourages understanding this dynamic to time investment decisions effectively.
Key Points:
Explanation: To maintain a steady production rate of blocks, Bitcoin adjusts its difficulty every 2016 blocks (about two weeks). This adjustment ensures that no matter how many miners join or leave the network, blocks are consistently mined every 10 minutes.
Crypto Connection: Difficulty adjustment is one of the reasons why Bitcoin remains a decentralized and secure network. For miners, understanding this mechanism is vital, as it impacts profitability, especially after a halving event when rewards are reduced.
Halving has real-world implications beyond Bitcoin. For example, gold is often compared to Bitcoin due to its scarcity and store of value properties. Just as gold becomes more valuable as it becomes harder to mine, Bitcoin’s value could rise as its supply diminishes. For crypto miners, halving events can be make-or-break moments—those with low-cost energy solutions may survive, while others may need to reevaluate their operations.
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Solutions:
As you continue through the CFIRE training plan, the next step is understanding the different consensus mechanisms, such as Proof of Stake (PoS), and how they compare to Bitcoin’s Proof of Work model.
Glossary
Final Encouragement: You’ve just taken an important step in understanding the dynamics that shape Bitcoin’s value. Keep this knowledge in mind as you continue your journey through the CFIRE series—it’s only going to get more exciting from here!
Step 1: Introduction to Bitcoin Halving
Step 2: Why the Halving
Step 3: Bitcoin Basics You Should Know
Step 4: History of Bitcoin Rewards
Step 5: Why Does Bitcoin Halving Happen?
Step 6: Bitcoin vs. Fiat Currency
Step 7: How Does Bitcoin Maintain Its Scarcity?
Step 8: How Bitcoin Halving Works
Step 9: Mining Difficulty and Block Time
Step 10: How Halving Impacts Miners
Step 11: Impact on Investors
Step 12: Long-term Effects of Halving
Step 13: Future of Bitcoin and Halving Events
Step 14: Conclusion
Step 15: Questions and Reflections
Introduction
Bitcoin halving is one of the most significant events in the world of cryptocurrency. Approximately every four years, the reward given to Bitcoin miners is cut in half. This process is essential for controlling the supply of Bitcoin and, by extension, its value. As cryptocurrency becomes more mainstream, understanding the role and impact of Bitcoin halving becomes crucial for both investors and enthusiasts. In this comprehensive article, we will delve into every aspect of Bitcoin halving, the blockchain, and the mechanisms that make Bitcoin what it is today.
Understanding Bitcoin Halving
Bitcoin halving reduces the reward that miners receive for verifying transactions and adding new blocks to the blockchain. This reduction in rewards ensures the scarcity of Bitcoin, which is crucial for maintaining its value over time.
Bitcoin Basics: What You Need to Know
Bitcoin is a cryptocurrency, meaning it is a form of digital currency that uses cryptography for security. Bitcoin operates on a decentralized network and uses a proof-of-work mechanism. Miners compete to solve complex mathematical problems, and when they successfully solve a problem, they add a new block to the blockchain and receive a reward in Bitcoin. This process ensures the integrity and security of the Bitcoin network.
The History of Bitcoin Mining Rewards
When Bitcoin launched in 2009, the reward for solving a block was 50 Bitcoins. From 2009 to 2012, this reward remained steady at 50 Bitcoins per block. However, in 2012, the first halving event occurred, reducing the reward to 25 Bitcoins. From 2016 to 2020, the reward was further reduced to 12.5 Bitcoins. Since 2020, miners have been rewarded with 6.25 Bitcoins per block, and in 2024, the reward will halve again to 3.125 Bitcoins. This systematic reduction is part of Bitcoin’s design to control supply.
Why Does Bitcoin Halving Happen?
Bitcoin’s system is designed to reduce the number of new coins created over time, thereby combating inflation and ensuring a fixed supply. Unlike fiat currency, which can be printed at will by central banks, Bitcoin has a fixed supply of 21 million coins. This ensures that Bitcoin remains scarce, helping retain and potentially increase its value over time.
Bitcoin vs. Fiat Currency
To understand Bitcoin’s value, it is helpful to compare it to fiat currency. Fiat currencies like the US dollar can be printed as needed, which can lead to inflation and a reduction in purchasing power. Bitcoin, on the other hand, has a hard cap of 21 million coins. As the rewards for mining decrease over time, the rate of Bitcoin’s inflation also decreases, eventually becoming deflationary. This makes Bitcoin a hedge against the inflationary practices of traditional fiat currencies.
Maintaining Bitcoin’s Scarcity
Every day, new Bitcoins are created, but the rate of creation is steadily declining due to halving events. The reduction in supply, combined with consistent or increased demand, can lead to higher prices over time. This concept is similar to reducing the availability of a valuable resource—if demand remains steady or increases while supply dwindles, the value of that resource tends to increase. Bitcoin’s scarcity is one of the key factors that contribute to its value.
How Bitcoin Halving Works
Bitcoin does not use real-world time to determine when halving should occur; instead, it uses the number of blocks mined. On average, a new block is mined approximately every 10 minutes. To ensure that this average remains consistent, Bitcoin adjusts its mining difficulty every 2,016 blocks, which translates to roughly every two weeks. A halving event occurs after 210,000 blocks have been mined, which equates to approximately every four years.
Mining Difficulty and Block Time
The concept of mining difficulty is central to Bitcoin’s operation. If more miners join the network, blocks may be solved in less than 10 minutes, which would lead to an increase in the rate of Bitcoin supply. To counterbalance this, the Bitcoin network adjusts the difficulty of the mathematical problems that miners must solve, ensuring that blocks continue to be mined at an average rate of one every 10 minutes. This adjustment occurs roughly every two weeks, allowing the network to adapt to changing conditions and maintain its equilibrium.
How Halving Impacts Miners
Each halving event directly impacts the profitability of mining operations. Miners receive fewer rewards after each halving, which means that their income is effectively cut in half. Larger mining operations may have an advantage in this environment due to economies of scale, such as more efficient cooling systems or lower electricity costs. If smaller miners find mining unprofitable and stop their operations, the overall network difficulty may decrease, potentially increasing profitability for the remaining miners.
Impact on Investors
Bitcoin halving events also have a significant impact on investors. Historically, Bitcoin’s price has tended to increase after halving events due to increased media attention and the reduced supply of new coins. This has led to speculation that halving events drive up Bitcoin’s value. However, price changes are not guaranteed and can be influenced by a variety of factors, including market sentiment and broader economic conditions.
Long-term Effects of Halving
As halving events continue, the miner reward will eventually become very low. There is some uncertainty about whether miners will continue to secure the network when rewards are minimal. It is expected that transaction fees could eventually replace block rewards as the primary incentive for miners. However, this shift is still theoretical, and its impact on network security remains a topic of debate within the cryptocurrency community.
The Future of Bitcoin and Halving Events
Each halving event moves Bitcoin closer to reaching its maximum supply of 21 million coins. This fixed supply ensures that Bitcoin remains scarce, which is one of the key factors that help maintain its value over time. The community continues to debate the long-term effects of reducing miner rewards, especially concerning the implications for network security and miner incentives.
Conclusion
Bitcoin halving is a fundamental mechanism that controls the supply of new coins, reduces inflation, and maintains the value of the cryptocurrency. It has a profound impact on miners, investors, and the entire Bitcoin ecosystem. By understanding how halving works and its implications, you can gain deeper insights into why Bitcoin behaves the way it does and why it continues to be an important asset in the world of finance.
Questions and Reflections
What are your thoughts on Bitcoin halving? Is it beneficial for maintaining Bitcoin’s value and controlling inflation? How might the reduction in miner rewards affect the future of the network? We encourage you to share your insights and join the conversation about the future of this transformative technology.
Thank You for Reading
Thank you for taking the time to explore this in-depth look at Bitcoin halving and blockchain technology. Your interest and support are what make content like this possible. We hope that you found this article informative and that it provided valuable insights into the fascinating world of Bitcoin. Stay tuned for more content, and we look forward to sharing more knowledge with you in the future.
BTC HALVING 2024 Explained!! What is BITCOIN HALVING?
Transcript:
In the future, gold is more valuable than ever, and a new gold rush has begun. Miners are flocking to the gold fields, hoping to strike it rich. One mining company, however, is taking a different approach. They are reducing the bonuses they pay their miners by half every four years. This is to prevent a race to the bottom where miners would compete to extract as much gold as possible, driving down the price.
The way Bitcoin works is a bit like the mining company in that story. Every four years, the amount of new Bitcoin that gets created gets cut way down, in half. This happens over and over again. But think about it. If you keep cutting something in half, eventually there’s barely anything left.
Alright, so what’s this Bitcoin halving all about? Before we dive too deep, let’s make sure we’re on the same page about how Bitcoin works in general. First, you have to know that Bitcoin is a cryptocurrency. Second, there is a concept in Bitcoin called proof of work. Imagine there’s a bunch of people solving puzzles to compete for rewards. Whoever solves the puzzle gets some Bitcoin and gets to add the next block to this giant public record called the blockchain.
And lastly, just to be sure, Bitcoin launched back in 2009. Okay, now that we’ve covered the basics, let’s dive into the main dish of today’s video. The Bitcoin halving event. Every four years, the amount of BTC given to miners as reward is cut by half. Take a trip back in 2009, when Bitcoin was just starting out.
Miners solving a block were rewarded with a whopping 50 Bitcoins. That’s a pretty sweet incentive. This high reward actually lasted for a few years, all the way until 2012. Then, something interesting happened. The reward got cut in half, dropping to 25 bitcoins per block. This halving continued again in 2016, bringing the reward down to 12.5 bitcoins.
Since 2020, miners have been earning 6.25 Bitcoins for their efforts. But guess what? The story doesn’t end there. As you might have predicted, the next halving, expected in April 2024, will further reduce the reward to 3.125 Bitcoins per block. It’s getting closer and closer. Alright, let’s unpack why halving is a thing.
Think of any paper money you keep in your wallet. Governments, when they need a quick buck or want to hit some economic targets, can just, well, print more. Need more cash floating around? Just goes the money printer. See a bit too much cash? They ease up on the printing press next year. Now, as humans, we tend to be a bit spendthrift.
Often more money gets created than might be necessary. This constant increase in the money supply has a consequence. Inflation. Inflation’s a whole other beast we won’t tackle here. But just know it slowly sucks the buying power out of your paper bills.
Want to feel the rush of causing inflation? Click the like button and watch us become even more addicted to likes each time a new video come out. Back to the track, unlike the ever-expanding supply of traditional currency, Bitcoin operates with a predetermined ceiling. While new bitcoins are released daily through mining, this process is programmed to slow down significantly every four years, ultimately reaching a finite limit of 21 million coins.
This creates a scenario where inflation, though technically present due to the influx of new coins, becomes increasingly negligible as time progresses. In fact, Bitcoin’s economic model leans towards eventual deflation. How? Two factors contribute to this, accidental loss and the basic principles of supply and demand.
Firstly, with human error inevitable, some bitcoins will undoubtedly be sent to irretrievable wallets, effectively removing them from circulation. Secondly, as demand for the limited pool of Bitcoin stays constant or even rises, the scarcity caused by both mining slowdown and accidental loss should drive the price upwards. This interplay between a capped supply and potential demand increase paints a picture of a future where Bitcoin becomes deflationary, meaning its value steadily increases over time.
While the concept of Bitcoin halving might sound straightforward, cutting miner rewards in half, the underlying mechanism is quite ingenious. Unlike traditional systems that rely on real-world time, Bitcoin employs a unique approach based on block numbers. We’ll explore this fascinating concept in a moment.
Imagine Bitcoin as a complex clock but with a slight twist. It strives to maintain a consistent rhythm generating a new block roughly every 10 minutes. This time frame ensures a predictable flow of new coins entering circulation. However, the equation gets interesting when new miners enter the scene.
With more computing power thrown into the mix, solving the mathematical puzzles that secure new blocks could theoretically happen faster, say every five minutes. This is where Bitcoin’s self-regulating mechanism, known as difficulty adjustment, comes into play. It acts like a vigilant guardian, ensuring the average block creation time remains around 10 minutes.
If it detects a surge in mining power, the difficulty of the mathematical puzzles automatically increases. This essentially makes it harder for miners to find solutions, effectively maintaining the 10 minute target. Conversely, if mining power dips, the difficulty eases up to keep the block creation process moving at a steady pace. This adjustment happens like clockwork, every 2016 blocks roughly two weeks.
Bitcoin meticulously recalibrates the difficulty to guarantee that the average block is solved within that 10 minute time frame. It might seem intricate, but the key takeaway is that Bitcoin possesses an internal clock and a self-regulating difficulty mechanism. Now let’s add the final piece to the puzzle.
The halving event. Every 210,000 blocks the reward for miners gets slashed in half. When we factor in the average block time of 10 minutes, this translates to a halving event occurring roughly every four years. This pre-programmed scarcity is a fundamental aspect of Bitcoin’s design, aiming to control the overall supply and potentially influence its value over time.
The upcoming Bitcoin halving in April 2024 is a significant event for both holders and miners. As a holder, you can sit tight and observe the market. Historically, halving events have correlated with price increases, but it’s important to consider other factors like increased media attention surrounding Bitcoin.
The restricted supply might not be the sole driver. For miners, however, the halving presents a more complex situation. The reduced block reward means your mining operations profitability needs careful evaluation. Smaller miners with less efficient setups will feel the pinch more acutely.
Large players with economies of scale, like massive cooling facilities or their own solar power generation, will have a significant advantage. On the other hand, if a significant number of smaller miners shut down due to profitability concerns, the overall mining difficulty will decrease. This could make mining more profitable for those who remain, even with the halved reward. Ultimately, the impact of the halving will depend on various factors.
Extensive research is crucial for both holders and miners. Always prioritize caution when making any investment decisions especially in the ever-evolving cryptocurrency landscape that brings us to a key question what happens when the havings continue and the block reward reaches zero eventually mining Bitcoin might become unprofitable due to the low rewards what then it’s uncertain but that’s can be a topic for another video now it’s your turn what are your thoughts on the having mechanism does it What then? It’s uncertain, but that can be a topic for another video.