At some point in the next few days, an event will occur that many believe could define the future of Bitcoin. It is, in theory, simple: the number of bitcoin awarded to miners when they succeed in creating a new block (in effect, when they “find” bitcoin as a result of their efforts) will be cut in half, from 25 coins to 12.5.

This halving, as it is generally referred to, is neither a new thing nor a surprise, but this time around could have lasting effects. What is not known is whether they will be good or bad for Bitcoin as a whole.

Although there is still much uncertainty, the actual effects of halving are more likely to be beneficial to current holders of Bitcoin and to the community as a whole.