In this article, we will learn the answer to the question of what is Bitcoin halving? We will look at the approximate dates of future Bitcoin halving times.
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Introduction
After the 2008 crisis, a person or persons named Satoshi NAKAMOTO published technical articles on Bitcoin, a peer-to-peer electronic payment system. Thus, Bitcoin emerged as a decentralized, third-party cryptocurrency protected against intervention. It entered use as a public network in 2009. Afterwards, Bitcoin was called the "1st generation Blockchain" as the first successful cryptocurrency.
What is Bitcoin BTC Halving?
Halving refers to a process that reduces the issuance rate of coins in Bitcoin. In other words, Bitcoin halving is the periodic reduction of block rewards provided to miners. This process ensures that the Bitcoin supply continues until its maximum supply is reached. Thanks to halving, Bitcoin has become one of the basic elements of the Bitcoin economic model, as they guarantee that Bitcoin will be released to the market at a constant speed and will show a predictable decrease rate. This controlled inflation rate is the main difference between Bitcoin and traditional fiat currencies (Dollar, Euro, etc.) that have an essentially infinite supply.
The first halving in Bitcoin took place in 2012, and the block reward was reduced from 50 BTC to 25 BTC. The second halving occurred in 2016, and the block reward was reduced from 25 BTC to 12.5 BTC. The third halving occurred in 2020, and the block reward was reduced from 12.5 BTC to 6.25 BTC. The next halving occurred in 2024, and the block reward was reduced to 3,125 BTC. As this process continues, it seems inevitable that Bitcoin will become even more valuable.
Bitcoin Halving Dates?
Below is a chart of Bitcoin Halving-Dates. Examine the chart to understand the subject. Over time, halving rewards decrease and this process continues until the maximum supply of 21 million is reached.
| Halving No | Estimated Year | Block Height | Block Reward (BTC) | Total Mined BTC (Approx) |
|---|---|---|---|---|
| 0 (Genesis) | 2009-01-03 | 0 | 50 | 10,500,000 |
| 1 | 2012-11-28 | 210,000 | 25 | 15,750,000 |
| 2 | 2016-07-09 | 420,000 | 12.5 | 18,375,000 |
| 3 | 2020-05-11 | 630,000 | 6.25 | 19,687,500 |
| 4 | 2024-04-20 | 840,000 | 3.125 | 20,343,750 |
| 5 | ~2028 | 1,050,000 | 1.5625 | 20,671,875 |
| 6 | ~2032 | 1,260,000 | 0.78125 | 20,835,938 |
| 7 | ~2036 | 1,470,000 | 0.390625 | 20,917,969 |
| 8 | ~2040 | 1,680,000 | 0.1953125 | 20,958,984 |
| 9 | ~2044 | 1,890,000 | 0.09765625 | 20,979,492 |
| 10 | ~2048 | 2,100,000 | 0.04882813 | 20,989,746 |
| 11 | ~2052 | 2,310,000 | 0.02441406 | 20,994,873 |
| 12 | ~2056 | 2,520,000 | 0.01220703 | 20,997,436 |
| 13 | ~2060 | 2,730,000 | 0.00610352 | 20,998,718 |
| 14 | ~2064 | 2,940,000 | 0.00305176 | 20,999,359 |
| 15 | ~2068 | 3,150,000 | 0.00152588 | 20,999,679 |
| 16 | ~2072 | 3,360,000 | 0.00076294 | 20,999,839 |
| 17 | ~2076 | 3,570,000 | 0.00038147 | 20,999,919 |
| 18 | ~2080 | 3,780,000 | 0.00019073 | 20,999,959 |
| 19 | ~2084 | 3,990,000 | 0.00009537 | 20,999,979 |
| 20 | ~2088 | 4,200,000 | 0.00004768 | 20,999,989 |
| ... | ... | ... | ... | ... |
| ~33 | ~2136 | ~6,930,000 | <0.00000001 | ~21,000,000 |
It is thought that the 21 million BTC limit will be reached approximately in 2140. Post-halving rewards do not continue forever; they are divided into very small amounts towards the end and become almost zero. After that time, miners will only be rewarded with transaction fees.
Why Do Bitcoin Halvings Happen?
The purpose of halvings is due to Bitcoin's deflocyanist algorithms. Fiat currencies have unlimited production. Countries can print money or burn their money when they need it. The fact that fiat currencies are unlimited makes assets with limited supply or limited reserves, such as Gold, Silver, and Bitcoin, reliable investment havens. In addition, countries' currencies may lose value due to their current inflationary conditions.
Bitcoin's absolute supply is 21 million units. This makes it a value asset with a fixed limit. Unlike the central bank model that fiat currencies are subject to, which can print or withdraw unlimited amounts of new money from the system, Bitcoin's absolute supply is limited.
Bitcoin is a system that works with the POW (Proof of Work) logic. Miners on my site receive a reward for every new block they add to the blockchain. This continues until it reaches 21 million units. An asset with a limited supply. The halving approximately every four years and the reduction of the reward rate in return makes that asset deflationary in the long term.
How Does Bitcoin Halving Work?
Halvings are considered important because they aim to prevent inflation, which is one of Bitcoin's main purposes. The system works as follows; The Bitcoin network consists of cryptographic codes. Blocks are produced and rewards are received in return by breaking these codes. If the number of miners in the Bitcoin network increases, the difficulty of the cryptographic codes in the network increases, and if the number of miners decreases, the difficulty of the codes decreases. In this way, halving dates are reached every four years.
Bitcoin Halving and Our Final Thoughts
It is thought that the last bitcoin will be produced by miners in approximately 2140. After that time, miners will only be rewarded with transaction fees. The Bitcoin halving cycle will continue approximately 33 times until the last Bitcoin is mined. The increasing interest of institutional investors in Bitcoin investments, which have been ongoing for years by personal investors, in recent years. An indication that the deflationary algorithm in the Bitcoin network is working. As the Referral Brotherhood platform, we say the following as the final word in this article; "Every Satoshi is Valuable" Continue to save and store Bitcoin (BTC).
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