The first halving (28 Nov 2012)

On 28 November 2012, block 210,000 cut the block subsidy from 50 to 25 BTC — the first execution of the supply schedule written into Bitcoin from day one. No announcement, no committee, no delay: the code simply did what it said it would.

Every halving since (2016, 2020, 2024) has landed on schedule the same way. The first one mattered most as proof: the 21 million cap was not a promise but a mechanism.