 What exactly is the halving? I'm embarrassed to say that I don't really understand what it is or why everyone cares so much about it. Can you explain also is it halving or halvening and how is it related to halva which is a great Greek delicious dessert made of sesame seed paste and honey. Lots of very very critical questions there. No it has nothing to do with halva. The halving is an event that occurs every 210,000 blocks on the bitcoin blockchain and it is the event that is responsible for both the fixed issuance of bitcoin that will never reach 21 million coins but also for the geometrically decreasing issuance of bitcoin. This phenomenon that drives the inflationary money supplying down and is one of the very interesting economic algorithms that was introduced by Satoshi Nakamoto from the very inception of bitcoin. Now to a lot of people the halving seems to occur once every four years. That's what we usually say when we talk about the halving but it's important to realize that bitcoin doesn't actually have a clock. Bitcoin is a clock. It contains time stamping and timekeeping mechanism which is the blockchain and that mechanism the blockchain is calibrated so that blocks are issued every 10 minutes and that calibration happens every 2016 blocks. So the halving is actually measured in blocks not minutes or seconds or hours or years and the halving happens every 210,000 blocks and will happen at block 629,999 is the last block that will have 12.5 bitcoin in its block subsidy which is part of the reward that miners get in addition to fees transaction fees for mining and securing the bitcoin blockchain. As that block gets mined the last block with 12.5 the very next block is anticipated by everyone and part of the consensus rules must contain no more than 6.25 bitcoin in it and that is the halving. This process started with the very first block the Genesis block which contained 50 new bitcoin and since then has included 50 bitcoin for the first 210,000 blocks then 25 bitcoin after the halving in the year 2012 up to 2016 when it went down from 25 to 12.5 bitcoin which is the current block subsidy and in just about 10 days from now it will reach block 629,999 and the reward will drop to six and a quarter bitcoin and that is the halving in a nutshell. If you enjoyed this video please subscribe, like and share. All my work is shared for free so if you want to support it join me on Patreon.