How Does Bitcoin Have Value?
A utility of Bitcoin as a store of value is strongly attributed to its capped supply at 21 million BTC. This along with its inflexible liquid supply drives it's demand and thus its value.
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What is a Bitcoin Halving?
Bitcoin halving is the term used to identify the block reward subsidy schedule. According to the Bitcoin blockchain protocol, the Bitcoin block reward is cut in half every 210,000 blocks.
Modeling Bitcoin Value With Scarcity
Bitcoin’s baked-in scarcity makes it valuable. Bitcoin’s algorithmically determined rate of increase makes it scarce when demand for the bitcoin cryptocurrency is rising, ta less so when it is falling.