Summary
TLDR: The halving of bitcoin, which happens every four years, reduces new bitcoin creation and can increase its value, but miners see a drop in revenue if the price doesn’t go up.
Key Points
1. The halving event occurs approximately every four years and reduces the rate at which new bitcoins are created, enforcing scarcity and potentially driving up the cryptocurrency’s value.
2. The halving also means an immediate halving of revenue for miners from mined blocks, assuming the price of bitcoin does not increase proportionately.
3. The impact of the halving event on bitcoin’s value and miner revenue highlights the delicate balance between supply and demand in the cryptocurrency market.