Bitcoin halving is an event that reduces the supply of newly produced bitcoins by half. It occurs every 4 years or to be precise every 210000 blocks and it is a part of the validation logic in the Bitcoin source code.
Bitcoin halving is important to discuss as it affects miners profitability and often has an impact on the Bitcoin price. It is also one of the main reasons why Bitcoin is perceived as sound (hard) money with the inflation rate steadily trending to zero and becoming deflationary in a long run in opposite to all the other fiat currencies.
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