We're about 8 days away from one of the most significant global economic and development events of 2024: the #BitcoinHalving.

The Bitcoin halving takes place every ~4 years, programmed to occur every 210,000 blocks of #BTC that are "mined" via the #Bitcoin network. The next halving (the 4th since Bitcoin's launch in 2009) will occur at block 840,000 which will be reached on April 19 or 20.

It occurs roughly (not precisely) every 4 years. Why? Because it takes roughly that long for 210,000 blocks of #BTC to be mined. That frequency is calibrated by another function of the #Bitcoin open-source software/protocol called the "difficulty adjustment".

So why is the #Bitcoin halving such a big deal and what's so important about THIS halving?

At each halving, the supply of new #BTC rewarded per block gets cut by 50%. This time, at block 840,000 BTC officially becomes more scarce and a harder money/asset than #gold.

Right now, #Bitcoin has a slightly higher "stock-to-flow" than gold (ie, current supply in circulation divided by new supply). However, unlike gold whose supply increases steadily over time, the supply of new #BTC is programmed to DECREASE over time (by 50% at each halving).

When we reach #Bitcoin block 840,000 next week, 93.75% of the #BTC that will EVER exist will have been mined and in circulation. The remaining 6.25% will be released into supply gradually until the year 2140. BTC is programmed to gain value and purchasing power over time.

#Bitcoin is the world's largest, decentralized computing network & open-source software. The global money that is produced & transacted over this network (#BTC) has a fixed total supply (21 Million) and a fixed issuance supply/schedule. BTC is money with "rules, not rulers".

Yeah, but #Bitcoin doesn't really have any use cases, right? WRONG. Around the world #BTC is fast becoming a preferred tool and form of money for every day use.

Exhibit A: Bitcoin Circular
Economies taking shape around the world - http://www.fbce.io

Exhibit B: Alex @gladstein interview on @WhatBitcoinDid outlining global use cases - https://youtu.be/TI3Xcei8d_I?si=oSmVgXgRz2gduddI

The important social, political and economic value of #Bitcoin #BTC was also covered in depth during the recent 2024 Bitcoin Policy Summit in Washington D.C. Speakers included Members of U.S. Congress, academics, researchers, industry leaders, and others. Visit: https://www.youtube.com/live/DJeFYsk675k?si=ReKSdWnP0p3vbqXC

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