I am excited to share the first piece of my new Bitcoin Halving series, “In Plain Sight,” which explores the upcoming fourth Bitcoin halving. The series will consist of four pieces with the same structure and geometry but different cloudscapes.
In Plain Sight (Bitcoin Halving series) – Deconstructed
The paintings consist of four carefully placed building blocks, each halved in size in reference to Bitcoin’s fourth halving at block height 840,000 in April 2024.
50 x 4-segment blocks symbolize the historic 50 Bitcoin mining reward that was present when the protocol and currency launched in January 2009.
Every four years, the Bitcoin mining reward is mathematically reduced by 50%, in what is commonly referred to as halving.
This 4-year cycle is symbolized by the 4 x 8-segment blocks in the painting.
The first Bitcoin halving occurred in November 2012, and the date is represented by 1-segment blocks.
The Bitcoin mining reward dropped by half to 25 Bitcoin per block.
The 2nd Bitcoin halving occurred in July 2016.The Bitcoin mining reward dropped by half to 12.5 Bitcoin per block.
The 3rd Bitcoin halving occurred in May 2020.The Bitcoin mining reward dropped by half to 6.25 Bitcoin per block.
In April 2024, the fourth halving will take place. The Bitcoin mining reward will decrease by half to 3.125 Bitcoin per block.
Including the one-segment counters (spaces within letters or numbers), precisely 210 one-segment blocks depict the parameters of the first four halvings, referencing the capped maximal supply of Bitcoin at 21 million.
Symbolic of the binary format, carefully placed two-segment blocks encrypt the parameters of the halving “In Plain Sight.”
Bitcoin Halving Art Auction
The first iteration of the painting series, “In Plain Sight – One,” will be auctioned at the Bit Block Boom conference in Dallas, Texas, which runs from April 11th through 14th, 2024. In its 7th edition, Bit Block Boom is the longest-running Bitcoin conference this year with the special Halving Edition. As in previous years, the auction will be hosted by Scarce.city.
