[scotty79]

Fixed block subsidy would have a risk of supply outpacing the demand. Then the price would drop structurally which could cause "run on bank" and wholesale abandonment.

Decreasing amount of bitcoin supply means that eventually the supply would fall below demand, which ensures rising price.

Every 4 years when supply and the demand reach equilibrium, the supply is halved which triggers new price rise and renewed interest. The entire crypto ecosystem follows.

Bitcoin halvings are THE reason crypto is a thing. Not just a curiosity for some techies.

We have maybe two cycles left ahead of us. Then crypto will become just digital gold randomly fluctuating with interest from the asset holders.