Have you ever wondered why the Bitcoin halving event occurs every four years and happens during the US presidential cycles? I have. It has been the focal point of much personal musing over the years and to this day I still can not truly say with any certainty that the four year halving cycle was not coded to intentionally coincide with US elections.
We all know that Bitcoin was programmed from the outset to only have a finite amount of tokens in existence, this is what gives it its unique value. I mean when you think about it, it's profoundly clever to mint an entirely new currency and build into the DNA of that currency an algorithm that ensures scarcity and counteracts inflation, that's genius really.
The whole purpose of the halving is to reduce miner fees and ensure the slowing of Bitcoin supply in circulation. This of course helps keep the supply fixed. But why every four years and why time it to occur in a US presidential election year? There can be no doubt that whoever created Bitcoin was very conscious of the dominance of the US economy and its effects on the global economy.
Let's not forget Bitcoin was created in response to the global economic crash of 2008 which saw huge global 'too safe to fail' banks and corporations implode requiring public funds to bail them out, while others went under completely. The creator or creators of Bitcoin clearly wanted to find an alternative financial system that was fairer, more transparent, anonymous, easy to use and had serious value. And they are well on their way to achieving that goal.
Satoshi was keen to show the world there was another way. How many of us owe Bitcoin a debt of gratitude? I know I do.
Bitcoin was released in 2009 and the first halving was in 2012, with subsequent halvings recurring every four years. So it's entirely feasible that Satoshi wanted political stability in a year which saw Bitcoin recalibrate its output. Therefore, given that the US is still the number economic superpower in the world it would be important to ensure the US political process was without turmoil. Having the US election concluded would give Bitcoin a context of less market disruption ensuring optimal performance.
While I can not say for sure I think it's entirely plausible that the timing of Bitcoin halvings was coded in a way to ensure they happened alongside every US presidential election. I am offering my humble opinion only and just putting this out there as food for thought, but I would really like to know what you guys think.
Peace!
Greetings @peaceandmoney ,
To answer your query...No...that had never crossed my mind...however I understand your excellent reasoning...very interesting.
Upon hearing of Bitcoin for the first time....there was no doubt in my mind of the Freedom encoded into this form of currency....of course sadly that may not always be so.
Thank you for nudging the grey cells. ^__^
Toodle pip!
Bleujay
You're welcome - always good to nudge the grey cells! Bitcoin was the financial alternative humans desperately needed, it was the freedom we needed. Yes, you are right to highlight that this freedom is under threat from the usual agents. Nonetheless we can still benefit hugely from crypto, let's hope we get that much sought after altcoin season!