Summary
TLDR: Bitcoin halving reduces the introduction of new bitcoins into circulation by half every four years until the last bitcoin is mined in 2140. This scarcity and deflationary mechanism is designed to increase the value of Bitcoin over time compared to fiat money that devalues over time.
Key Points
1. Bitcoin halving occurs roughly every four years and reduces the introduction of new bitcoins into circulation by half.
2. The total supply of Bitcoin is capped at 21 million BTC, with the last bitcoin expected to be mined around 2140.
3. The halving mechanism was designed to enforce scarcity and deflationary properties of bitcoin, aiming to increase the value of the asset over time as adoption of the network grows.