One:
Imagine there is a special computer that creates magic money called "bitcoins." This computer can make a certain number of bitcoins every day, but one day, it was told to slow down and make only half as many bitcoins as before. So instead of making 10 bitcoins a day, it now only makes 5 bitcoins a day. This event is called "halving."
Two:
Think of it like this: imagine you have a bag of candy, and you can only put 5 new pieces of candy in the bag every day. One day, someone comes along and says "from now on, you can only put 2.5 new pieces of candy in the bag every day." That means it will take you twice as long to fill up the bag with candy, because you're only getting half as much candy each day.
That's kind of like what happens with bitcoin. The people who create new bitcoins (called "miners") have to do a lot of work to earn them, and when the number of new bitcoins being created gets halved, it means it will take them twice as long to earn them. Does that make sense?
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