"The countdown has been reset -- see you in 2028."

“倒數計時已經重置——2028 年見。”

Bitcoin is created as a reward when computers solve complex puzzles to decide which miner wins the privilege to validate the block -- and receive the reward in bitcoins.

當電腦解決複雜的難題來決定哪個礦工贏得驗證區塊的特權並獲得比特幣獎勵時，比特幣被創建為獎勵。

However, since the digital currency's launch in 2009, the reward has been halved for every 210,000 blocks in a process called halving.

然而，自 2009 年數位貨幣推出以來，每 21 萬個區塊獎勵就會減半，這個過程稱為減半。

With one block validated roughly every ten minutes, this critical industry event occurs just under every four years.

由於大約每十分鐘驗證一個區塊，這一重要的行業事件幾乎每四年就會發生一次。

The reward, which was fixed since May 2020 at 6.25 bitcoins per new block, has now fallen to 3.125 bitcoins.

自 2020 年 5 月以來，獎勵固定為每個新區塊 6.25 比特幣，現在已降至 3.125 比特幣。

Bitcoin was conceived in 2008 by a person or group writing under the pseudonym Satoshi Nakamoto.

比特幣是由化名中本聰的個人或團體於 2008 年提出的。

The halving process slows the rate at which new bitcoins are created, thereby restricting supply.

減半過程減慢了新比特幣的創建速度，從而限制了供應。

The reward amount has been trimmed over time, via halving, to implement Nakamoto's overall global limit of 21 million bitcoins.

隨著時間的推移，獎勵金額透過減半來削減，以實現中本聰 2,100 萬比特幣的全球總體限制。

But this ceiling is due to be reached by 2040.

但這個上限預計到 2040 年就會達到。

- Controlling supply -

"The primary purpose of halving is to control bitcoin's supply," City Index analyst Matthew Weller said in a research note ahead of the event.

- 控制供應 - 「減半的主要目的是控制比特幣的供應，」城市指數分析師馬修·韋勒在活動前的一份研究報告中表示。

"By slowing the rate at which new bitcoins are created, halving helps to maintain scarcity and potentially increase the cryptocurrency's value, assuming demand remains steady or increases," he added.

他補充說：“通過減緩新比特幣的創造速度，減半有助於維持稀缺性，並可能增加加密貨幣的價值，前提是需求保持穩定或增加。”

The price of bitcoin has blazed a record-breaking trail on the prospect of reduced supplies, as well as big moves toward greater trading accessibility.

比特幣的價格在供應量減少的前景以及提高交易可及性方面取得了重大進展，創下了破紀錄的紀錄。

Bitcoin has rocketed by 50 percent in value since the start of the year, climaxing last month at a record $73,797. Prices have fallen in recent days.

自今年年初以來，比特幣的價值已飆升 50%，上個月達到創紀錄的 73,797 美元。最近幾天價格有下跌。

"This is the first time that bitcoin beat the previous historical record before the halving has even taken place," said eToro analyst Simon Peters, noting there had been a pullback in recent days.

eToro 分析師 Simon Peters 表示：「這是比特幣在減半之前首次打破之前的歷史記錄。」他指出，最近幾天出現了回調。

Commercial bitcoin mining companies operate thousands of computers in huge hangers or warehouses, consuming large amounts of electricity at a vast cost.

商業比特幣挖礦公司在巨大的倉庫或倉庫中運行數千台計算機，消耗大量電力，成本高昂。

Halving therefore represents a major survival test for such companies because it slashes their main income source.

因此，減半對這些公司來說是一個重大的生存考驗，因為它削減了他們的主要收入來源。

- Reduced margins -

Faced with the prospect of reduced margins, bitcoin players have invested heavily in cutting-edge new computers, in tandem with an efficiency drive which in particular seeks to slash energy costs.

- 利潤減少 - 面對利潤減少的前景，比特幣玩家大量投資於尖端的新計算機，同時提高效率，特別是尋求削減能源成本。

In addition, some mining companies will have to "turn off some of their machines to cut costs, which equates to fewer bitcoins being created," said Manuel Valente, founder of cryptoasset investment group Coinhouse.

此外，加密資產投資集團 Coinhouse 的創始人 Manuel Valente 表示，一些礦業公司將不得不「關閉部分機器以削減成本，這相當於生產的比特幣減少」。

"And if the price of bitcoin goes down, their profitability decreases" further, he told AFP.

他告訴法新社，「如果比特幣價格下跌，他們的獲利能力就會進一步下降」。

Halving therefore exposes the weakest bitcoin mining firms, and could potentially spark a fresh wave of sector consolidation in a survival of the fittest, commentators say. 

因此，評論員表示，減半暴露了最弱的比特幣挖礦公司，並可能引發新一波的產業整合，適者生存。

At around 0030 GMT, after the halving had taken place, the price of bitcoin was up 0.7 percent at $63,467.46.

格林尼治標準時間 0030 左右，減半發生後，比特幣價格上漲 0.7%，至 63,467.46 美元。

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