Summary
TLDR: Bitcoin’s fifth epoch begins after four halvings, with each epoch lasting 210,000 blocks. The specific block reward starting at 50 has statistical conveniences, with each halving marking a time of self-reflection for the Bitcoin community. The fifth epoch brings diversity and a changing culture to the world of Bitcoin.
Key Points
1. Bitcoin undergoes halvings approximately every four years, reducing the supply issuance by half each time.
2. The fourth epoch of Bitcoin ended in April 2024 with the completion of the fourth halving at block 840,000, marking significant events in Bitcoin’s history.
3. Each halving prompts reflection on Bitcoin’s evolution and the diversity of its community, welcoming individuals from various backgrounds and beliefs.