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domain	denverbitdevs.com
summary	The "Halving Party" is an event in the Bitcoin network where the block reward for miners is cut in half approximately every four years. This process is built into the protocol to control inflation and ensure a steady supply of new bitcoins entering circulation. The term "halving" refers to this exact event, where the block reward is reduced by 50%. The halving party is named after this event's occurrence. It's supported by Bitcoin's decentralized network, consisting of miners worldwide who validate transactions and add them to the blockchain. Miners compete to solve complex mathematical problems, and the first to solve it receives a block reward in bitcoins. As the block reward is halved, each subsequent halving reduces the rate at which new bitcoins are created. This halving event was initially proposed by Bitcoin's creator, Satoshi Nakamoto, in 2009 as part of the Bitcoin protocol to limit the total supply of bitcoins and prevent inflation. The first halving occurred in 2012, reducing the block reward from 50 BTC to 25 BTC. Subsequent halvings have taken place in 2016 (to 12.5 BTC) and are scheduled for 2020 (to 6.25 BTC), 2024 (to 3.125 BTC), and so on, until the last potential halving is predicted to occur around 2140 when it will be down to less than 1 satoshi (approximately 0.000001 BTC). This mechanism ensures Bitcoin's scarcity, following an economic model similar to gold, with a finite supply of 21 million bitcoins. The halving party plays a crucial role in maintaining this scarcity and the stability of Bitcoin's monetary policy.
title	Denver BitDevs Halving Party
description	Denver BitDevs Halving Party
keywords	denver, presents, party
upstreams
downstreams
nslookup	A 104.21.55.2, A 172.67.143.193
created	2025-11-08
updated	2025-11-08
summarized	2025-11-13

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