For South Africans the Bitcoin high reached in March was R1.3 million, largely driven by the ETFs being approved: Luno country manager Christo de Wit.
SIMON BROWN: I’m chatting with Christo de Wit, Luno’s country manager for South Africa. Christo, appreciate the time. We’ve got the Bitcoin halving coming up. I’ve chatted on this show about it a bit before. In essence this happens about every four years. I understand the reward payment for miners essentially is halved, hence the halving. And they’re going to be getting 3.125 Bitcoin post that halving event.
As you mentioned, this coming Friday evening that reward will be slashed in half from 6.25 to 3.12 Bitcoin that they will be rewarded for every block that they solve. CHRISTO DE WIT: Well, that’s the thing. I think because there’s a four-year cycle these mining institutions have had time to prepare for this. They’ve had time to even out their business models to ensure that the revenue that they’re generating is still going to be enough to keep operations going.
CHRISTO DE WIT: Exactly. There’s a lot that comes into play with where these mining operations are set up. There are a lot of geopolitical things that we need to consider as well. At one point all of the miners were concentrated. China then had that Bitcoin ban going on. So we see a lot of those miners setting up shop in the US.
SIMON BROWN: Okay. I remember reading something as well where they were trying to mine exclusively off solar. I don’t know what happened, but again to make it green in a sense.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africans Fighting for Israel in Gaza - What Does the Law Say?Analysis - South Africa's foreign minister, Naledi Pandor, said the country's citizens fighting for the Israel Defence Forces in Gaza faced prosecution upon their return. This statement followed tension between South Africa and Israel amid the 'humanitarian catastrophe' resulting from Israel's war against Hamas in Gaza.
Read more »
Locally speaking: Four things ALL South Africans need to haveLocally speaking, there are four things all South Africans need to have. These aren't wants, but basic needs covered by your Human Rights.
Read more »
Trust Barometer shows South Africans trust business much more than governmentWe all know that South Africans do not trust government anymore, but their trust could be restored if we see our justice system work.
Read more »
South Africans Drums for Palestine at Human Rights Day FestivalThe Human Rights Festival at Constitution Hill in Johannesburg echoed with the resounding beat of drums during the 'One Thousand Drums for Palestine' event, writes Ihsaan Haffejee for GroundUp. The event, organized by Bobby Rodwell, aimed to unite people through music in solidarity with Palestine, raising awareness about the situation in Gaza.
Read more »
Joslin Smith: Lourentia Lombaard Abandons Bail, South Africans AnxiousLourentia Lombaard, who was arrested for the disappearance of Joslin Smith, abandoned her bail application and will appear with the other suspects in May.
Read more »
Nomfundo Moh Hailed for Creating Employment for South Africans After Sharing Video of Her RestaurantNomfundo Moh has announced that she is opening a new restaurant named La Mar in Spruitview. Fans praised the star for creating employment opportunities.
Read more »