Bitcoin reward halving, which occurs every four years, is a key component of the bitcoin code. Well-known quantum analyst PlanB recently pointed out that halving BTC 2020 coincides with the presidential election in the United States. Is this the crux of Satoshi's genius or just a simple coincidence?
Halving Bitcoins have always occurred in conjunction with the US presidential election
The bitcoin protocol was designed to halve every four years (or every 210.000 blocks). This event has already happened twice in the past. The first halving took place in November 2012.
Four years later, in July 2016, bitcoin suffered the second halving. The third is slated for May 14, 2020, the pseudonym bitcoin creator, Satoshi Nakamoto, has programmed the rewards for BTC blocks to reduce them over time.
Initially, in 2009, the reward was worth 50 BTC per block. After the next half-life it will be worth 6,25 BTC. This design makes the industry's leading cryptocurrency unique compared to traditional financial systems where the money supply is controlled primarily by central banks.
Contrary to the radical halving of the offer of bitcoins, the offer of traditional legal currencies has grown exponentially over the years.It is interesting to note that the halves of bitcoin (in 2012, 2016 and now 2020) all occur in the same year in which United States elect a new president.
Is it all a great coincidence or did Satoshi want it to be like this?
A good part of the crypto community on Twitter expressed their views on this interesting fact. Some have suggested that Satoshi intended to cause the bullish action associated with halving the BTC reward to fall in leap years.
Others explained that it is so simply because financial crises almost always occur during an election year, for example the 2008 financial crisis. PlanB supported this idea, adding that there is a lot of volatility during an election year.
In short, most of the comments indicate that this is Satoshi's genius, not just a coincidence. But the truth is that we will never know if this parallelism was really part of Satoshi's grand plan.
Satoshi Nakamoto, who could be a person or group of people, disappeared from the scene shortly after releasing the bitcoin protocol in 2009. As such, he cannot explain if he really meant that bitcoin halving would take place in the same year as the presidential election of the United States or if it's just a simple coincidence. Most importantly, however, is the fact that the halving event is historically bullish for the price of bitcoin.
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