Dan and Greg get into the Bitcoin Halvings, the true genius at the heart of Bitcoin's supply schedule.

• The next Halving is only 5 months away!  
• So few people actually understand the Halvings and how they work - and their implications for Bitcoin price and adoption
• Greg talking to friends about Halvings - the responses are enlightening
  • Conclusion: we are so early
• How does the Halving actually work?
  • Bitcoin come into the world every day through mining
  • Every 10 minutes on average, a minor is awarded the block reward
  • That block reward gets cut in half every 4 years (210,000 blocks)
  • Started at 50,  then 25, then 12.5 and the current block reward is 6.25 BTC awarded to a winning miner, ever 10 minutes on average
  • See chart of Halvings
  • The reduction in daily supply creates a supply shock every 4 years, which in turn leads to big increase in Bitcoin price
• Genius of design choice.  Heavily skewed to early days
• 93% of Bitcoin already mined and in the word, the remaining 7% will be mined over the next 120 years
• Conviction of Bitcoin holders at all-time highs - see chart   
• The 3 Halvings so far have led to massive bull runs - see chart
• Nobody knows if these cycles will continue, but we are not betting against them
• Zoom out.  Given dynamics of Halvings, price goes up over time.  Day to day price movements are boing and meaningless