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In the same way that there has only ever been one analog gold, there is likely to only ever be one digital gold.
In that case, we get the following breakdowns.
It is used as a measuring system for the constantly shifting valuations of capital this is why gold became money—it is the monetary metal with a supply that is most difficult to change.
However, conceptually it can be seen that the halving events are more like structural breaks in the stock to flow variable.