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Brian Armstrong also just posted this: https://medium.com/@barmstrong/what-happened-at-the-satoshi-...

Bitcoin is starting to look like "decentralization" at its worst. Pretty much the only asset ever in existence that hasn't fallen in price due to uncertainty.

Regarding "the halving", how in the world could you design in a doubling of expenses on some arbitrary date in the future? That didn't make any sense to me.

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It's not a doubling of expenses, it's a halfing of reward. The reward is meant to go to zero eventually, and halves every four years.

A halving of reward per unit of expense is a doubling of expenses per unit reward.

That said, it is neither - it is a halving of extra reward on top of transaction fees.

Also, "reward" is not appropriate. It has been historically referred to as "miner subsidy": it was intended to be a way to make mining attractive for early adopters.

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