The Genius of the Bitcoin Halving | 021

Dan and Greg get into the Bitcoin Halvings, the true genius at the heart of Bitcoin's supply schedule.The next Halving is only 5 months away!  So few people actually understand the Halvings and how they work - and their implications for Bitcoin price and adoptionGreg talking to friends about Halvings - the responses are enlighteningConclusion: we are so earlyHow does the Halving actually work?Bitcoin come into the world every day through miningEvery 10 minutes on average, a minor is awarded the block rewardThat block reward gets cut in half every 4 years (210,000 blocks)Started at 50,  then 25, then 12.5 and the current block reward is 6.25 BTC awarded to a winning miner, ever 10 minutes on averageSee chart of HalvingsThe reduction in daily supply creates a supply shock every 4 years, which in turn leads to big increase in Bitcoin priceGenius of design choice.  Heavily skewed to early days93% of Bitcoin already mined and in the word, the remaining 7% will be mined over the next 120 yearsConviction of Bitcoin holders at all-time highs - see chart   The 3 Halvings so far have led to massive bull runs - see chartNobody knows if these cycles will continue, but we are not betting against themZoom out.  Given dynamics of Halvings, price goes up over time.  Day to day price movements are boing and meaningless