As Bitcoin enthusiasts eagerly await the upcoming halving event, which marks a significant milestone in the cryptocurrency’s monetary policy, there are some lesser-known facts about Bitcoin’s supply schedule and halvings that are worth exploring.
Contrary to popular belief, the total supply of Bitcoin is not actually 21 million coins. Due to the way the code in Bitcoin works, the total supply will never reach 21 million exactly. Instead, it will cap at 20999999.97690 BTC due to the halving mechanism that cuts the supply in half every four years.
Interestingly, the halving supply curve has a unique property where the percentage of the total supply that enters circulation matches the value of the coinbase reward. For example, during the first halving period when the block reward decreased from 50 BTC to 25 BTC, 25% of the total supply entered circulation.
In a quirky historical event, during the first halving, a group of miners attempted to continue mining on a chain where the block subsidy remained at 50 BTC after the halving, showcasing the complexities of the Bitcoin ecosystem.
These little-known facts about Bitcoin’s supply schedule and halvings add an extra layer of intrigue to the upcoming halving event, which is eagerly anticipated by the crypto community. As we celebrate this pivotal moment in Bitcoin’s history, it’s important to cherish these unique experiences and reflect on the evolution of the cryptocurrency over time.
So, as we countdown to block 840,000 and the next halving event, let’s remember these fascinating details about Bitcoin’s supply schedule and appreciate the significance of this moment in the cryptocurrency’s journey. Happy Halving everyone!
