One of the more subtle but profound events that took place in the past few months is a reduction by half in the rate at which bitcoins are produced. It is a characteristic of the Bitcoin protocol that such a change takes place every four years. This transition was baptised by the community of Bitcoin enthusiasts as “Halving Day”. It was a significant event at several levels. Symbolically, “Halving Day” is a reminder of the built-in coin scarcity that is at the core of the Bitcoin economy. There was a general sense of excitement in online forums devoted to Bitcoin discussion in the days and hours previous to the “halving”. Remarkably, “Halving Day Parties” were held in several cities: nothing less than the social celebration of a software function. A ritual was born from the code.