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The next halving, who would’ve guessed it, will reduce the mining reward again – to 3.125 BTC per block. The Bitcoin community is eagerly anticipating this milestone. It will make Bitcoin’s supply even scarcer and, hopefully, introduce a new bull market.
Bitcoin’s built-in halvings stand out as a unique feature that adds predictable control over its supply issuance. Other cryptocurrencies have tried to copy its model, but no other blockchain has had the same success with halvings and inflation reductions as Bitcoin.
Of course, some critics have argued that halvings are unnecessary, and Bitcoin’s supply could have simply been capped at 21 million with all units released immediately. But Satoshi wisely recognized the importance of gradual, rule-based issuance and its role in increasing adoption and fairness. Bitcoin would not be where it is today without halvings.
Halvings also forge links between each generation of Bitcoin users. Those who participated in 2012’s first halving have watched the community grow and pass new milestones. And those who joined post-2020 look to earlier halvings for context on Bitcoin’s roots. Halvings remind the community of how far we've come, and where we have yet to go.
