First, 50.
Then, 25.
Eventually, 12.5.
After that, 6.25.
And now, 3.125.
Four halvings later, we enter the fifth of 33 epochs of Bitcoin. The first 32 epochs, in Bitcoin-terms, last 210,000 blocks, with the 33rd lasting until the heat death of the universe.
At 10 minutes per block, on average, that means just about every four years, Bitcoin cuts its supply issuance in half. The specific numerical finite-ness that comes downstream of this mechanism –– that defines bitcoin’s scarcity in a nearly infinite universe –– is ultimately irrelevant. Satoshi could have started at a 100 bitcoin block reward and we would have arrived at just about the same place today. But there are some statistical conveniences of starting at 50, such as that 50% of all bitcoin to ever be issued are during the first epoch. And thus, 25% of all bitcoin to ever be issued were issued in the second, and so on, and so forth.
Speaking of fourth, the fourth epoch terminates in the fourth month of 2024 at the
We współpracy z: https://bitcoinmagazine.com/print/the-halving-issue-letter-from-the-editors
