To everyone concerned
Guys you seem to be missing the whole point I was trying to make. Please answer the following questions:
1) What is the purpose of Bitcoin halving
2) Does it contribute to the Bitcoin infrastructure and Bitcoin overall robustness in any positive way
3) Who profits most by this
4) If there were no such thing from the beginning, would it change anything in the long run (for the worse)
1) To have a limited total money supply, and by doing so, to be on the opposite side of today's monetary system, where central banks rob the wealth of the currency user by printing more money. This is clearly indicated in the genesis block
The halving doesn't contribute to this in any viable way. You could just set the block reward lower from the start, and be done with that
2) The system will provide maximum protection for its users' wealth, thus get maximum support from its users and increase its robustness for the whole ecosystem
This still remains to be seen, since the last (and the first ever) halving had been in 2012, before Bitcoin started to get real momentum
3) Currency users are benefited most
I would narrow the beneficiaries to just holders and savers. Now we see that they are not the ones that could and would change the Bitcoin story. Enterprise would, but they are not interested in an ever appreciating currency and limited money supply. Kinda seems they are not very interested in cryptocurrencies at all
4) Bitcoin from the beginning can have many other reward halving schemes, or a constant supply, or even constant inflation rate like Milton Friedman suggested. But without forced circulation like fiat money, it is very likely no one will care about it if it does not have a clear benefit of limited total money supply
Then again, the halving scarcely contributes to this in any sensible way. I could even say it is the most risky and strange way of doing just this
Imagine that from the beginning bitcoin have constant supply 50 coins per block forever, then very likely another coin with reward halving will become more popular among users (due to stronger long term appreciation potential), attracting more capitals and eventually overtake bitcoin. Because the cryptocurrency are voluntarily used, if you don't have a good long term incentive mechanism for its users, no one will care
This is a weak argument since it can be countered by stating that you can always create another coin with a reward halving of every 6 months, for example
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