1. Bitcoin’s halving algorithm was confirmed and developed in the original Bitcoin version. The Bitcoin white paper explains the reasons for the decreasing supply of Bitcoin and the timetable for the halving event.
2. The first halving occurred four years after Bitcoin’s “genesis block” was generated, and the mining volume exceeded 10 million BTC. This occurred on November 28, 2012, at block height 210,000. The first halving reduced Bitcoin’s mining rewards from the initial 50 BTC per block to 25 BTC per block.
3. The second halving occurred on July 9, 2016, when the block height was 420,000. The second halving reduced Bitcoin’s mining rewards from 25 BTC per block to 12.5 BTC per block.
4. The third halving occurred on May 12, 2020, at a block height of 630,000. The third halving reduced the mining reward of Bitcoin from 12.5 BTC per block to 6.25 BTC.
5. The fourth halving is expected to occur around the end of April to the beginning of May 2024, when the block height is 840000. The fourth halving will reduce the mining reward of Bitcoin from 6.25 BTC per block to 3.125 BTC per block.
6. The fifth halving is expected to occur around 2028, when the block height is 1050000. The fifth halving will reduce the Bitcoin mining reward from 3.125 BTC per block to 1.5625 BTC per block.
7. It should be noted that the time of Bitcoin halving is not a fixed date, but is determined by the number of blocks generated in the network. Whenever the number of new blocks reaches a certain threshold (210,000 blocks), a halving event will be triggered. This means that if the network reaches this threshold earlier or later, the halving time will also be earlier or later. In addition, halving does not directly cause BTC price fluctuations, but several halving events in history have been associated with short-term price changes.
Follow Xin Ge, and I will explain the price changes of BTC after halving in history in the next issue!
