比特幣減半：12年的計畫性減半造就了比特幣的稀有性

2012 年 11 月 28 日，比特幣網路經歷了第一次減半，其創建者中本聰預計這一事件將控制加密貨幣的通貨膨脹。

A decade ago, on November 28, 2012, the Bitcoin (BTC) network underwent its first halving, an event that would significantly alter the cryptocurrency's economy and pave the way for its remarkable journey to being valued at over $95,000 today.

十年前，即2012 年11 月28 日，比特幣(BTC) 網路經歷了第一次減半，這一事件將極大地改變加密貨幣的經濟，並為其如今價值超過95,000 美元的非凡旅程鋪平道路。

This mechanism, inherently integrated into the Bitcoin protocol by its creator Satoshi Nakamoto, serves to automatically reduce the reward granted to miners by 50% every 210,000 blocks, roughly every four years. Initially set at 50 BTC per block, this reward has gradually decreased to 3.125 BTC today.

這種機制由其創建者中本聰固有地整合到比特幣協議中，大約每四年，每 210,000 個區塊自動將給予礦工的獎勵減少 50%。最初設定為每個區塊 50 BTC，這項獎勵已逐漸減少至如今的 3.125 BTC。

As a result of this halving, the influx of new bitcoins into the market is drastically curtailed. This scarcity, meticulously planned and programmed into Bitcoin's genesis, has proven to be a key driver in its valuation.

由於減半，新比特幣湧入市場的數量大幅減少。這種稀缺性經過精心策劃和編入比特幣的起源，已被證明是其估值的關鍵驅動因素。

With each halving, the selling pressure from miners naturally decreases, creating a scarcity effect that has historically preceded significant upward phases. The last halving, in April 2024, was no exception to this trend, with Bitcoin rising by over 45% since then.

隨著每次減半，礦商的拋售壓力自然減少，從而產生歷史上出現顯著上漲階段之前的稀缺效應。上一次減半發生在 2024 年 4 月，這一趨勢也不例外，自那時以來，比特幣上漲了 45% 以上。

Out of the 21 million BTC slated to be mined, only 1.2 million remain to be extracted, making the race for mining increasingly competitive. The mining difficulty recently reached a new historical high of 102.3 trillion, reflecting the heightened competition among miners.

在預計開採的 2,100 萬個 BTC 中，只剩下 120 萬個待開採，這使得挖礦競爭變得越來越激烈。近期挖礦難度達到102.3兆的歷史新高，反映出礦工之間的競爭加劇。

Faced with the continuous reduction of rewards, the mining ecosystem is undergoing a major restructuring phase. Key players in the sector, such as Marathon Digital, have had to adapt their strategies, notably by selling a portion of their mining output to maintain profitability.

面對獎勵的不斷減少，挖礦生態系統正經歷重大重組階段。 Marathon Digital 等該行業的主要參與者不得不調整其策略，特別是透過出售部分採礦產出來維持獲利能力。

Others, like TeraWulf, have considered merging to pool their resources and better navigate the changing landscape. Innovation is becoming paramount for miners to remain viable.

TeraWulf 等其他公司則考慮合併，以集中資源並更好地應對不斷變化的情況。創新對於礦商保持生存至關重要。

Some are turning to artificial intelligence to optimize their operations, while others are exploring alternative energy sources. El Salvador is emerging as a pioneer in this domain, harnessing volcanic geothermal energy to power Bitcoin mining.

一些公司正在轉向人工智慧來優化運營，而另一些公司則正在探索替代能源。薩爾瓦多正在成為這一領域的先驅，利用火山地熱能為比特幣挖礦提供動力。

This pursuit of efficiency intensifies as Bitcoin reaches new heights, approaching $100,000 in November 2024. Miners must now navigate increasing operational costs and market volatility.

隨著比特幣達到新的高度，在 2024 年 11 月接近 10 萬美元，這種對效率的追求更加強烈。

The 12th anniversary of the first halving thus marks a pivotal moment in Bitcoin's history, showcasing the resilience of its economic model amidst evolving challenges. As the next halving approaches in 2028, the mining industry continues to adapt, driven by innovation and the ever-changing dynamics of the crypto market.

因此，第一次減半的 12 週年標誌著比特幣歷史上的關鍵時刻，展示了其經濟模式在不斷變化的挑戰中的彈性。隨著 2028 年下一次減半的臨近，在創新和加密市場不斷變化的動態的推動下，採礦業繼續適應。