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The 2012 Bitcoin halving marked the first major supply shock in cryptocurrency history. This event cut the block reward from 50 BTC to 25 BTC, fundamentally altering Bitcoin\“s emission rate and scarcity profile.
As Bitcoin\“s first programmed halving, this event demonstrated the protocol\“s predictable monetary policy in action. Miners who previously received 50 BTC for each block found saw their rewards instantly reduced by 50%, testing the network\“s security model and economic incentives.
The 2012 halving occurred at block height 210,000 and proved Bitcoin\“s deflationary nature. This reduction in new supply coincided with growing awareness of Bitcoin\“s fixed 21 million coin limit, highlighting its value proposition as digital gold with predictable issuance.
Following this halving, Bitcoin\“s price began a significant appreciation cycle, though the causal relationship remains debated among economists. The event established the four-year halving cycle that continues to shape Bitcoin\“s monetary policy and investor expectations today. |
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发表于 2025-10-29 23:37:24