Akin Fernandez is the owner of bitcoin voucher service Azteco and an active technology blogger under the pen name ‘Beautyon’.
In this piece, Fernandez offers his take on the upcoming halving of the bitcoin network subsidy and what it means for those who risk “being left out”.
Very shortly, there will be an important scheduled change in the way bitcoin is generated. The rate at which new bitcoin is created will halve, an event popularly referred to as “the halving”.
At the time of this writing, 3,600 BTC ($2.4m) are generated every day. This will be slashed to 1,800 BTC per day ($1.2m), and the rate will never ever increase.
Taking this into account, and some basic economics, we should be able to make predictions about how the perception of bitcoin may change, but since the perception of bitcoin is almost entirely irrational, save for the thinking of a handful of very clever men, it is almost impossible to predict how people will react to the halving.
Bitcoin was designed to be released onto the market in a slow and predictable way. This was done to incentivize the security of the network through its generation as well as