比特币减半：12年的计划性减半造就了比特币的稀有性

2012 年 11 月 28 日，比特币网络经历了第一次减半，其创建者中本聪预计这一事件将控制加密货币的通货膨胀。

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，比特币 (BTC) 网络经历了第一次减半，这一事件将极大地改变加密货币的经济，并为其如今价值超过 95,000 美元的非凡旅程铺平道路。

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.

这种机制由其创建者中本聪固有地集成到比特币协议中，大约每四年，每 210,000 个区块自动将给予矿工的奖励减少 50%。最初设定为每个区块 50 BTC，这一奖励已逐渐减少至如今的 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.

由于减半，新比特币涌入市场的数量大幅减少。这种稀缺性经过精心策划和编入比特币的起源，已被证明是其估值的关键驱动因素。

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.

随着每次减半，矿商的抛售压力自然减少，从而产生历史上出现显着上涨阶段之前的稀缺效应。上一次减半发生在 2024 年 4 月，这一趋势也不例外，自那时以来，比特币上涨了 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.

在预计开采的 2100 万个 BTC 中，只剩下 120 万个待开采，这使得挖矿竞争变得越来越激烈。近期挖矿难度达到102.3万亿的历史新高，反映出矿工之间的竞争加剧。

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.

面对奖励的不断减少，挖矿生态系统正在经历重大重组阶段。 Marathon Digital 等该行业的主要参与者不得不调整其策略，特别是通过出售部分采矿产出来维持盈利能力。

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 等其他公司则考虑进行合并，以集中资源并更好地应对不断变化的形势。创新对于矿商保持生存至关重要。

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.

一些公司正在转向人工智能来优化运营，而另一些公司则正在探索替代能源。萨尔瓦多正在成为该领域的先驱，利用火山地热能为比特币挖矿提供动力。

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.

随着比特币达到新的高度，在 2024 年 11 月接近 10 万美元，这种对效率的追求更加强烈。矿工现在必须应对不断增加的运营成本和市场波动。

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，第一次减半的 12 周年标志着比特币历史上的一个关键时刻，展示了其经济模式在不断变化的挑战中的弹性。随着 2028 年下一次减半的临近，在创新和加密市场不断变化的动态的推动下，采矿业继续适应。