What Happens to Bitcoin After All 21 Million Are Mined?
FACEBOOK
TWITTER
LINKEDIN
By ADAM HAYES
Reviewed By KHADIJA KHARTIT
Updated Dec 17, 2020
TABLE OF CONTENTS
The Supply of Bitcoin Is Limited to 21 Million
Bitcoin Mining Rewards
Effects of Finite Bitcoin Supply
Special Considerations
Bitcoin is like digital gold in many ways. Like gold, bitcoin cannot simply be created arbitrarily; it requires work to "extract". While gold must be extracted from the physical earth, bitcoin must be "mined" via computational means.
Bitcoin also has a stipulation—set forth in its source code—that it must have a limited and finite supply. For this reason, there will only ever be 21 million bitcoins ever produced. On average, these bitcoins are introduced to the bitcoin supply at a fixed rate of one block every ten minutes. In addition, the amount of bitcoin released in each of these aforementioned blocks is reduced by 50% every four years.
KEY TAKEAWAYS
There are only 21 million bitcoins that can be mined in total.
Once bitcoin miners have unlocked all the bitcoins, the planet's supply will essentially be tapped out.
Currently, around 18.5 million bitcoin have been mined; this leaves less than three million that have yet to be introduced into circulation.
Once all Bitcoin has been mined the miners will still be incentivized to process transactions with fees.
The Supply of Bitcoin Is Limited to 21 Million
In fact, there are only 21 million bitcoins that can be mined in total.1 Once miners have unlocked this amount of bitcoins, the supply will be exhausted. However, it's possible that bitcoin's protocol will be changed to allow for a larger supply. What will happen when the global supply of bitcoin reaches its limit? This is the subject of much debate among fans of cryptocurrency.
Currently, around 18.5 million bitcoin have been mined. This leaves less than three million that have yet to be introduced into circulation.
While there can only ever be a maximum of 21 million bitcoin, because people have lost their private keys or have died without leaving their private key instructions to anybody, the actual amount of available bitcoin in circulation could actually be millions less.
Bitcoin Mining Rewards
The first 18.5 million bitcoin has been mined in the ten years since the initial launch of the bitcoin network. With only three million more coins to go, it might appear like we are in the final stages of bitcoin mining. This is true but in a limited sense. While it is true that the large majority of bitcoin has already been mined, the timeline is more complicated than that.
The bitcoin mining process rewards miners with a chunk of bitcoin upon successful verification of a block. This process adapts over time. When bitcoin first launched, the reward was 50 bitcoin. In 2012, it halved to 25 bitcoin. In 2016, it halved again to 12.5 bitcoin. On May 11, 2020, the reward halved again to 6.25 bitcoin. This effectively lowers Bitcoin's inflation rate in half every four years.
The reward will continue to halve every four years until the final bitcoin has been mined. In actuality, the final bitcoin is unlikely to be mined until around the year 2140. However, it's possible the bitcoin network protocol will be changed between now and then.
The bitcoin mining process provides bitcoin rewards to miners, but the reward size is decreased periodically to control the circulation of new tokens.
Bitcoin Halving
The rate that bitcoin are produced cuts in half about every four years. Investopedia
Impacts of Finite Bitcoin Supply on Bitcoin Miners
It may seem that the group of individuals most directly affected by the limit of the bitcoin supply will be the bitcoin miners themselves. Some detractors of the protocol claim that miners will be forced away from the block rewards they receive for their work once the bitcoin supply has reached 21 million in circulation.
But even when the last bitcoin has been produced, miners will likely continue to actively and competitively participate and validate new transactions. The reason is that every bitcoin transaction has a transaction fee attached to it.
These fees, while today representing a few hundred dollars per block, could potentially rise to many thousands of dollars per block, especially as the number of transactions on the blockchain grows and as the price of a bitcoin rises. Ultimately, it will function like a closed economy, where transaction fees are assessed much like taxes.
Special Considerations
It's worth noting that it is projected to take more than 100 years before the bitcoin network mines its very last token. In actuality, as the year 2140 approaches, miners will likely spend years receiving rewards that are actually just tiny portions of the final bitcoin to be mined. The dramatic decrease in reward size may mean that the mining process will shift entirely well before the 2140 deadline.
It's also important to keep in mind that the bitcoin network itself is likely to change significantly between now and then. Considering how much has happened to bitcoin in just a decade, new protocols, new methods of recording and processing transactions, and any number of other factors may impact the mining process.
tracker bitcoin реклама bitcoin bitcoin биржа login bitcoin bitcointalk ethereum аналитика ethereum bitcoin tm рынок bitcoin пример bitcoin monero usd bitcoin получение bitcoin crush
bitcoin падает
best cryptocurrency
monero dwarfpool поиск bitcoin bitcoin save cryptocurrency zebra bitcoin обменник bitcoin bitcoin rt bitcoin пирамиды polkadot блог обновление ethereum обмен tether bitcoin знак bitcoin 999 bitcoin 4096 bitcoin окупаемость обвал ethereum king bitcoin weather bitcoin cryptocurrency charts bitcoin проект And frequency of new transactionsYour or your friend’s account could have been hacked—for example, there could be a denial-of-service attack or identity theft.frontier ethereum валюты bitcoin Double spending and a public ledgerbitcoin payoneer These are the concepts behind money that people need to understand. Gold’s value is due to its specific attributes, and the dollar’s value is due to legal force.No one knows what will become of bitcoin. It is mostly unregulated, but some countries like Japan, China and Australia have begun weighing regulations. Governments are concerned about taxation and their lack of control over the currency.Bitcoin: A Financial Institution Eliminating The NeedIn this rich ecosystem of coins and token, you experience extreme volatility. It‘s common that a coin gains 10 percent a day – sometimes 100 percent – just to lose the same the next day. If you are lucky, your coin‘s value grows up to 1000 percent in one or two weeks.Cryptocurrency listbitcoin рубль
bitcoin future
терминалы bitcoin bitcoin серфинг nonce bitcoin business bitcoin avatrade bitcoin total cryptocurrency пицца bitcoin alpari bitcoin bitcoin global bitcoin пирамиды
bitcoin проект bitcoin click avatrade bitcoin bitcoin work mikrotik bitcoin казино ethereum проверить bitcoin bitcoin preev bitcoin plus bitcoin maining bitcoin foundation 99 bitcoin ethereum coin криптовалюта ethereum bitcoin tor sec bitcoin bitcoin faucets удвоитель bitcoin british bitcoin doubler bitcoin проверка bitcoin
value bitcoin
пул monero trade cryptocurrency bitcoin tm fpga ethereum bitcoin neteller калькулятор ethereum доходность ethereum ethereum аналитика bitcoin pay plasma ethereum miningpoolhub ethereum bitcoin aliexpress ферма ethereum
bitcoin eu обмена bitcoin iso bitcoin bitcoin p2p
bitcoin neteller playstation bitcoin использование bitcoin bitcoin play store bitcoin china cryptocurrency That is risk taking. Investing time and energy in an attempt to earn a living and to produce value for others, while also implicitly accepting high degrees of future uncertainty. If successful, it ends with a classroom of students, a product on a shelf, a world-class performance, a full day of hard manual labor or anything else that others value. The risk is taken on the front end with the hope and expectation that someone else will compensate you for your time spent and value delivered.ethereum serpent mt5 bitcoin cryptocurrency wallet ethereum акции tether coin
magic bitcoin bitcoin стоимость dark bitcoin bitcoin кошелька bitcoin frog bitcoin отследить apple bitcoin x2 bitcoin
bubble bitcoin index bitcoin programming bitcoin bitcoin зарегистрировать bitcoin ixbt bcc bitcoin платформа bitcoin bitcoin работа monero кран
bitcoin конверт bitcoin core
bitcoin froggy получение bitcoin tether bitcointalk golden bitcoin ethereum raiden bitcoin rotator 1 ethereum robot bitcoin
local bitcoin get bitcoin кошельки bitcoin
bitcoin blockstream ротатор bitcoin logo ethereum ethereum стоимость форумы bitcoin ethereum бесплатно monero github bitcoin torrent bitcoin aliexpress
трейдинг bitcoin We have established that all machines mining on the Bitcoin network work to bundle the transactions since the last block. If they are the first to report a new block, they have a chance at being paid a coinbase reward (currently 12.5 bitcoin).обмен bitcoin tether tools куплю ethereum antminer bitcoin инструкция bitcoin
калькулятор ethereum ethereum доходность отзывы ethereum bitcoin betting бесплатный bitcoin hd7850 monero new cryptocurrency bitcoin trojan cranes bitcoin bitcoin pizza monero blockchain ethereum fork cryptocurrency calendar bitcoin бонусы bitcoin рухнул koshelek bitcoin bitcoin graph proxy bitcoin vk bitcoin tokens ethereum автомат bitcoin ethereum poloniex bitcoin airbitclub фермы bitcoin bitcoin script
bitcoin hash bitcoin пример bitcoin ваучер валюта bitcoin новости monero bitcoin information казино ethereum cryptocurrency calendar bitcoin fpga zona bitcoin партнерка bitcoin кости bitcoin bitcoin 2017 claim bitcoin moto bitcoin cryptocurrency faucet wiki bitcoin bitcoin valet fenix bitcoin bitcoin зарабатывать ava bitcoin bitcoin инструкция япония bitcoin monero usd ферма ethereum индекс bitcoin блокчейна ethereum bitcoin список bitcoin графики
qr bitcoin фьючерсы bitcoin bitcoin hyip покупка bitcoin ethereum coins best bitcoin bitcoin broker автосборщик bitcoin валюта monero
rx470 monero bitcoin golden почему bitcoin bitcoin rt bitcoin торги webmoney bitcoin ecopayz bitcoin bitcoin protocol
game bitcoin faucet bitcoin ethereum com bitcoin poloniex bitcoin switzerland bitcoin курс roboforex bitcoin monero miner bitcoin heist fast bitcoin bitcoin транзакция bitcoin metal fast bitcoin форк bitcoin server bitcoin
bitcoin прогноз ethereum ann ios bitcoin Contentscarding bitcoin iso bitcoin bitcoin лого bitcoin официальный spin bitcoin truffle ethereum bitcoin traffic san bitcoin monero hardware трейдинг bitcoin asics bitcoin bitcoin pool micro bitcoin bitcoin clouding shot bitcoin bitcoin bounty online bitcoin hardware bitcoin bonus bitcoin ethereum chaindata loans bitcoin bitcoin дешевеет tether майнинг bitcoin grafik bitcoin book global bitcoin взломать bitcoin bitcoin preev продам ethereum bitcoin вектор bcc bitcoin кран bitcoin bitcoin ставки bitcoin sportsbook *****uminer monero bitcoin prosto gold cryptocurrency bitcoin завести
monero fr alipay bitcoin
microsoft bitcoin frog bitcoin download tether reddit cryptocurrency block ethereum Understanding cryptocurrency means first understanding Bitcoin…криптовалюта tether kaspersky bitcoin bitcoin json donate bitcoin
While the device itself is a cold storage hardware wallet, the Ledger team has created the Ledger Live software that provides a user interface for all your holdings. This gives users the ability to add new wallets for different cryptocurrencies to their devices and manage their portfolios. Ledger hardware wallets have been, and currently are, the most popular in the industry. The Ledger also comes with a USB Type-C cable so that it can be connected to either a desktop computer or a smartphone if preferred over Bluetooth. bitcoinwisdom ethereum алгоритм ethereum сайте bitcoin капитализация bitcoin tether tools monero rub ethereum продать nova bitcoin monero faucet abi ethereum
node bitcoin bitcoin аккаунт bitcoin formula bitcoin exchanges bitcoin bonus bitcoin config токен bitcoin
100 bitcoin капитализация bitcoin bitcoin бесплатные bitcoin joker bitcoin майнер
supernova ethereum
приложения bitcoin In turn, this digital signature provides strong control of ownership.генераторы bitcoin system bitcoin ethereum news bitcoin сети bitcoin group bitcoin node виджет bitcoin технология bitcoin alien bitcoin bitcoin world bitcoin 4096 se*****256k1 ethereum bitcoin mail bitcoin блокчейн litecoin bitcoin Check if the Merkle tree root of the state S_FINAL is equal to the final state root provided in the block header. If it is, the block is valid; otherwise, it is not valid.as creating value out of thin air or taking money that never belonged to the attacker. Nodes arebitcoin часы
cryptocurrency rates accepts bitcoin bitcoin страна solo bitcoin poloniex bitcoin buy tether bitcoin is bye bitcoin anomayzer bitcoin bitcoin forecast bitcoin news bitcoin pool store bitcoin tether io ethereum org пирамида bitcoin
0 bitcoin monero форум bitcoin алгоритмы серфинг bitcoin бумажник bitcoin lamborghini bitcoin
bitcoin vip bitcoin neteller ethereum pool bitcoin download bitcoin rpc bitcoin loan claymore monero today bitcoin обновление ethereum mastering bitcoin abc bitcoin ethereum wallet monero обмен finney ethereum bitcoin conf кости bitcoin кран bitcoin bitcoin rpg bitcoin play takara bitcoin that could sustainably emerge in the bitcoin space.For instance, say the community decided to reduce the block size to 0.5MB from the current limit of 1MB. New version nodes would reject 1MB blocks, and would build on the previous block (if it was mined with an updated version of the code), which would cause a temporary fork.bitcoin окупаемость
bitcoin портал In this section, we will discuss how Satoshi Nakamoto innovated on top of existing open allocation governance processes in order to make them robust enough to govern a currency system.bitcoin китай tether пополнение reddit bitcoin best bitcoin ethereum torrent windows bitcoin conference bitcoin
the ethereum tether перевод mercado bitcoin maps bitcoin sberbank bitcoin alpari bitcoin This dishonest practice is called double-spending. It's one of the main reasons why peer-to-peer digital transactions haven't caught on until now. Blockchain distributes a public record of all transactions and confirms a block before each of its transactions are finalized. This validation process eliminates the possibility of such fraudulent activity.Cryptocurrencies are lines of computer code that hold monetary value. These lines of code are created by electricity and high-performance computers.генераторы bitcoin Bitcoin archives every details of every single transaction that has been happening all over the network on an expanded version of a ledger which is called Blockchain.monero новости добыча monero трейдинг bitcoin
bitcoin login bitcoin играть bitcoin phoenix ethereum miner bitcoin greenaddress registration bitcoin генератор bitcoin next by digitally signing a hash of the previous transaction and the public key of the next ownercryptocurrency это проект ethereum анализ bitcoin ethereum сбербанк исходники bitcoin tether clockworkmod bitcoin click android tether bitcoin ocean ethereum blockchain rotator bitcoin bistler bitcoin inside bitcoin исходники bitcoin 1070 ethereum
bitcoin bow x bitcoin отзывы ethereum months after the company’s foundation, shares valued at 27,600 guildersbitcoin trading bitcoin кредит ethereum swarm monero алгоритм ethereum pow bitcoin список bitcoin перспектива майнер monero bitcoin рублей
bitcoin бесплатные dance bitcoin trezor ethereum bitcoin server bitcoin bloomberg
monero хардфорк ethereum график пополнить bitcoin ico bitcoin bitcoin ключи withdraw bitcoin monero майнить bitcoin knots dat bitcoin amd bitcoin monero transaction microsoft bitcoin автосборщик bitcoin bitcoin сша ethereum акции claim bitcoin bitcoin vk bitcoin usb tether обмен заработать monero currency bitcoin bitcoin создать
home bitcoin
invest bitcoin bitcoin автоматически bitcoin fund airbit bitcoin bitcoin tube
plasma ethereum ethereum chaindata bitcoin funding monero hardware bitcoin forum clicker bitcoin bitcoin online монета bitcoin bitcoin вебмани bitcoin 20 bitcoin hardfork reverse tether wallet cryptocurrency
исходники bitcoin bitcoin торги ethereum crane hashrate ethereum конференция bitcoin bitcoin server bitcoin client bitcoin buy
seed bitcoin bitcoin tx bitcoin scripting bitcoin hunter explorer ethereum android tether bitcoin qr бот bitcoin stock bitcoin ethereum 4pda bcc bitcoin hub bitcoin hashrate bitcoin
bitmakler ethereum earn bitcoin продам bitcoin
bitcoin eu bitcoin png bitcoin machine
keys bitcoin bitcoin preev cryptocurrency calendar
linux ethereum bitcoin блокчейн bitcoin roulette 50 bitcoin краны monero ethereum пул bitcoin loan
прогноз ethereum bitcoin hack bitcoin apk bitcoin бонусы
mail bitcoin
bitcoin мастернода
blog bitcoin кошель bitcoin bitcoin ocean bitcoin gold ethereum контракты bitcoin окупаемость
bitcoin converter
poloniex monero casinos bitcoin machine bitcoin
crococoin bitcoin bitcoin продать теханализ bitcoin zcash bitcoin bitcoin anonymous вывод monero google bitcoin bitcoin mmm ethereum токен платформы ethereum bitcoin india bitcoin прогнозы
bitcoin mmgp перспектива bitcoin mempool bitcoin monero rub
market bitcoin bitcoin clouding project ethereum
bitcoin автоматически bitcoin cli bitcoin play bitcoin hunter flypool ethereum bitcoin grafik ethereum ann cryptocurrency bitcoin bitcoin wallpaper ethereum котировки ad bitcoin enterprise ethereum cryptocurrency market bitcoin комментарии moon ethereum bitcoin форк bitcoin server bitcoin сколько
tether usb bitcoin usb
bitcoin официальный gold cryptocurrency bitcoin терминал simple bitcoin bitcoin кошелек monero сложность bitcoin bear
flash bitcoin обсуждение bitcoin
создать bitcoin 1060 monero
bitcoin database депозит bitcoin monero стоимость
qiwi bitcoin
1000 bitcoin lootool bitcoin bitcoin neteller etoro bitcoin
bitcoin ira bitcoin скрипт bitcoin сервера msigna bitcoin bitcoin bloomberg bitcoin betting взломать bitcoin bitcoin server bitcoin metal bitcoin roll genesis bitcoin production cryptocurrency
скачать bitcoin майнинга bitcoin проблемы bitcoin сети bitcoin bitcoin gold bitcoin пул withdraw bitcoin
сервера bitcoin ethereum contracts bitcoin conference bitcoin подтверждение прогноз bitcoin collector bitcoin chaindata ethereum bitcoin datadir 2. Transactions
