The Bitcoin Halving Explained
📖 5 min read
Quick Answer
Roughly every four years, the amount of new bitcoin created per block is cut in half. This pre-programmed "halving" is how Bitcoin enforces scarcity — and it is one of the most-watched events in all of finance.
💡 Think of it as…
一個向世界滴入新硬幣的水龍頭——每四年，就會有人將水龍頭擰到一半。流量按照固定的時間表不斷縮減，直到最終完全停止在 2,100 萬枚硬幣上。
The schedule
每 21 萬個區塊（約四年）區塊補貼減半：50 → 25 → 12.5 → 6.25 → 3.125 BTC，以此類推。這種情況一直持續到 2140 年左右，屆時發行結束並達到 2,100 萬的上限。
Why it exists
The halving makes Bitcoin disinflationary by design: new supply grows ever more slowly, the opposite of fiat currencies that can be printed without limit. It is the core of the "digital gold" and inflation-hedge argument.
The price debate
從歷史上看，減半發生在主要牛市之前，因為新供應緊縮而需求穩定或上升。但過去的表現並不能保證，許多因素都會推動價格——以健康的懷疑態度對待減半的說法。
🔑 Key takeaway
The halving cuts new bitcoin issuance in half every ~4 years, enforcing a fixed 21-million supply. It is scarcity written into the code.
Why this matters for you
對高通膨亞洲經濟體的儲戶來說，減半是比特幣宣傳的核心：任何政府都無法透過通膨消除貨幣供應。這就是為什麼「保護你的儲蓄免受通貨膨脹影響」從土耳其到巴基斯坦引起共鳴。
常见问题
When is the next Bitcoin halving?▼
The previous halving was in 2024; the next is expected around 2028. The exact date depends on how fast blocks are mined.
減半就保證價格上漲嗎？▼
No. Halvings reduce new supply, which can support price if demand holds, but markets are complex and nothing is guaranteed. Never invest based on a single narrative.
What happens after all bitcoin is mined?▼
2140年左右，礦工將只賺取交易費，而不是新幣。如今，絕大多數比特幣已經在流通。