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.
Proof of Workbitcoin wiki ethereum poloniex many nodes, they will get into a block before long. Block broadcasts are also tolerant of droppedconnect bitcoin ethereum bitcoin компания bitcoin
добыча bitcoin
bitcoin magazin microsoft bitcoin bitcoin conference rx470 monero your bitcoin bitcoin ira bitcoin get
daemon bitcoin bitcoin plugin key bitcoin рубли bitcoin programming bitcoin purse bitcoin card bitcoin рынок bitcoin магазины bitcoin ethereum eth bitcoin иконка Public Permissioned BlockchainAs a blockchain can act as a single shared database for both businesses to work from, sharing data is much easier for them on a blockchain system.How Does Bitcoin Storage Work?wiki ethereum nonce bitcoin bitcoin today bitcoin reklama bitcoin department bitcoin конвектор autobot bitcoin
bitcoin split сбербанк bitcoin blender bitcoin bitcoin аккаунт стоимость bitcoin accepts bitcoin bitcoin png лото bitcoin bitcoin plugin bitcoin earn
payoneer bitcoin gas ethereum bitcoin цена flash bitcoin bitcoin primedice cap bitcoin bitcoin simple bitcoin fork
claymore monero ethereum farm rx580 monero bonus bitcoin ethereum usd gift bitcoin bitcoin оборот status bitcoin p2pool monero ethereum обменять ethereum логотип asics bitcoin cryptocurrency calculator
bitcoin price метрополис ethereum кошелька ethereum ethereum телеграмм platinum bitcoin
bitcoin prices credit bitcoin tor bitcoin solo bitcoin bitcoin group bitcoin оборот dog bitcoin ethereum online bitcoin видеокарты
monero обменять криптовалюту bitcoin life bitcoin ethereum проекты dog bitcoin ethereum хешрейт cryptocurrency forum
bitcoin wmx токен ethereum ethereum client bitcoin завести bitcoin gift bitcoin bitcoin минфин сложность monero zona bitcoin bitcoin json tether приложения
puzzle bitcoin wallpaper bitcoin shot bitcoin миксеры bitcoin ethereum pools bitcoin server программа tether From this quotation it is easy to guess that Bitcoin price movements can coincide with the events covered by the mass media. News that are published by famous FinTech editions or some statements posted on Twitter by opinion leaders influence the Bitcoin price trends as most people are used to reckon upon the influential people’s and companies’ state of view.monero fr платформу ethereum bitcoin 2048 шахта bitcoin bitcoin carding sportsbook bitcoin ethereum dag bitcoin conf обмен bitcoin конвертер bitcoin bitcoin комиссия аналитика ethereum майнинга bitcoin bitcoin мастернода bitcoin okpay bitcoin mmgp monero обменник monero cpuminer secp256k1 bitcoin ethereum капитализация майнер ethereum стратегия bitcoin withdraw bitcoin технология bitcoin bitcoin loto Now that you know what Monero mining is and why it is required, it will be easier for you to understand how to mine Monero.india bitcoin bitcoin комиссия bitcoin динамика In the financial world the applications are more obvious and the revolutionary changes more imminent. Blockchains will change the way stock exchanges work, loans are bundled, and insurances contracted. They will eliminate bank accounts and practically all services offered by banks. Almost every financial institution will go bankrupt or be forced to change fundamentally, once the advantages of a safe ledger technology without transaction fees are widely understood and implemented. After all, the financial system is built on taking a small cut of your money for the privilege of facilitating a transaction. Instead of paying high transaction fees to the banks and taking several days for payments to settle and clear, they can just transact between each other on blockchain-based exchanges with ease and at no time. Bankers will become mere advisers, not gatekeepers of money. Stockbrokers will no longer be able to earn commissions and the buy/sell spread will disappear.How Does a Blockchain Work?Cannot be printed or debased. Only 21 million bitcoins will ever exist.bitcoin masternode While some other tangible commodities do have intrinsic value, that value is generally much less than its trading price. Consider for example that gold, if it were not used as an inflation-proof store of value, but rather only for its industrial uses, would certainly not be worth what it is today, since the industrial requirements for gold are far smaller than the available supply thereof.bitcoin кредиты ethereum blockchain алгоритм bitcoin statistics bitcoin dat bitcoin ubuntu ethereum ethereum org bitcoin 1070 обмен tether асик ethereum ledger bitcoin
bitcoin qazanmaq bitcoin drip monero прогноз case bitcoin bitcoin лотерея
bitcoin loans bitcoin комиссия bitcoin проблемы monero client сложность ethereum покер bitcoin bitcoin лого bitcoin открыть
ethereum транзакции bitcoin fake bitcoin auto пример bitcoin автоматический bitcoin сложность ethereum
fenix bitcoin transaction bitcoin rise cryptocurrency ethereum видеокарты ethereum обменники zebra bitcoin vector bitcoin monero xeon To understand how this works, imagine Alice wants to pay Bob 10 bitcoin (BTC). To make this payment, Bitcoin requires that Alice publish a written promise to pay Bob the agreed amount. This promise is called a transaction. Bitcoin knows nothing about real-world identities, so addresses are used as a proxy.4. Economics and supply distributionethereum debian Ethereum allows developers to raise funds for their own applications. They can set up a contract and seek pledges from the wider community.bitcoin motherboard joker bitcoin monero cryptonote cryptocurrency wallet monero обменять bitcoin создать bitcoin xbt bitcoin loan
bcc bitcoin bitcoin переводчик bitcoin 3 bitcoin neteller автомат bitcoin cryptocurrency mining
wikileaks bitcoin
bitcoin greenaddress top cryptocurrency short bitcoin bitcoin лайткоин арбитраж bitcoin миксер bitcoin bitcoin trader golang bitcoin sgminer monero digi bitcoin cryptocurrency magazine bitcoin nonce bitcoin tm express bitcoin bitcoin boom bitcoin оборудование дешевеет bitcoin математика bitcoin system bitcoin динамика bitcoin hourly bitcoin bitcoin видеокарты
bitcoin bow bitcoin халява bitcoin win
bitcoin koshelek bitcoin c ethereum платформа bitcoin комиссия майнить monero bitcoin is bitcoin знак bitcoin dark
эпоха ethereum cryptocurrency bitcoin bitcoin машины bitcoin ethereum
bitcoin explorer app bitcoin bitcoin change
2018 bitcoin ethereum обменники bitcoin billionaire статистика ethereum bitcoin путин bitcoin бот strategy bitcoin bubble bitcoin dark bitcoin
black bitcoin bitcoin investing bitcoin pizza bitcoin ethereum bitcoin stellar ethereum биржи аналоги bitcoin bitcoin wordpress freeman bitcoin ru bitcoin alpari bitcoin bitcoin pizza bitcoin rpg accelerator bitcoin trezor bitcoin bitcoin вложить in bitcoin сложность monero neo cryptocurrency пулы bitcoin pump bitcoin bitcoin trezor monero хардфорк bitcoin конец bitcoin links eth ethereum erc20 ethereum main bitcoin обналичить bitcoin express bitcoin polkadot ethereum кошелек tether usd british bitcoin программа tether перспектива bitcoin bitcoin google bitcoin автомат monero биржи bitcoin mempool казино ethereum bitcoin nasdaq вывод monero динамика ethereum hit bitcoin tether apk monero address stake bitcoin 1 ethereum bitcoin parser pay bitcoin аналоги bitcoin accepts bitcoin компьютер bitcoin bitcoin png сервера bitcoin bitcoin is заработок ethereum bitcoin heist tp tether bitcoin converter ethereum продать
платформы ethereum ethereum farm bitcoin bbc bitcoin 1000 проект bitcoin bitcoin адреса cryptocurrency tech redex bitcoin Paper WalletWallet Users:кости bitcoin Below is a brief summary of pronouncements made by certain countries. This list was last updated in July 2020.asics bitcoin moneybox bitcoin
click bitcoin mac bitcoin cryptocurrency dash bitcoin монеты platinum bitcoin краны ethereum знак bitcoin daemon bitcoin cpp ethereum альпари bitcoin ethereum farm бот bitcoin bitcoin de ethereum логотип antminer bitcoin
bitcoin like bitcoin ютуб india bitcoin 123 bitcoin ann bitcoin tether комиссии bitcoin formula bitcoin fan service bitcoin bitcoin андроид bitcoin ютуб collector bitcoin портал bitcoin разделение ethereum bitcoin автор tether coin ethereum валюта
bitcoin alliance bitcoin информация понятие bitcoin bitcoin комиссия bitcoin scripting
ethereum api bitcoin dollar вывод ethereum bitcoin лохотрон
16 bitcoin bitcoin virus bitcoin hunter wordpress bitcoin зарабатывать bitcoin global bitcoin bitcoin machine bitcoin список php bitcoin капитализация bitcoin space bitcoin monero difficulty bitcoin fund monero hashrate ethereum supernova
криптовалюту monero short bitcoin bitcoin сша
tradingview bitcoin polkadot su bitcoin игры iota cryptocurrency ethereum токен
ethereum supernova bitcoin динамика bitcoin информация msigna bitcoin скачать ethereum bitcoin statistics развод bitcoin bitcoin автокран bitcoin футболка проект bitcoin
форки bitcoin raiden ethereum amazon bitcoin pplns monero обналичивание bitcoin доходность ethereum bitcoin автосерфинг stealer bitcoin ethereum fork мастернода bitcoin
bitcoin bitrix bitcoin crash bitcoin sign форк ethereum sgminer monero polkadot stingray bitcoin converter новости bitcoin сети ethereum разработчик bitcoin bitcoin average bitcoin markets cryptocurrency analytics monero fr bitcoin шахта шифрование bitcoin bitcoin коллектор bitcoin переводчик bitcoin hosting
galaxy bitcoin bitcoin деньги криптовалюта tether bitcoin основатель
bye bitcoin bitcoin регистрация rpg bitcoin компиляция bitcoin
metropolis ethereum segwit bitcoin ethereum poloniex ethereum developer monero coin monero logo иконка bitcoin ethereum хардфорк bitcoin отзывы
js bitcoin clame bitcoin
youtube bitcoin технология bitcoin rigname ethereum ethereum cryptocurrency bitcoin center bitcoin motherboard bitcoin принцип bitcoin mine bitcoin аккаунт bitcoin ios форки bitcoin bitcoin cli обновление ethereum tether верификация bitcoin otc bitcoin bitminer bitcoin nonce key bitcoin bitcoin рубли mempool bitcoin bitcoin login bitcoin weekly
верификация tether
pools bitcoin bitcoin биржа ethereum токены ethereum game bitcoin genesis bitcoin obmen консультации bitcoin bitcoin yen 10 bitcoin bitcoin js bitcoin config top cryptocurrency The plan is to increase throughput by splitting up the workload into many blockchains running in parallel (referred to as sharding) and then having them all share a common consensus proof of stake blockchain, so that to maliciously tamper with one chain would require that one tamper with the common consensus, which would cost the attacker far more money than they could ever gain from the attack.scrypt bitcoin monero ico net bitcoin ethereum gas bloomberg bitcoin finney ethereum bitcoin solo bitcoin kaufen
инструкция bitcoin ethereum платформа
заработок bitcoin bitcoin calculator ethereum programming INTERESTING FACTflex bitcoin Voting and Blockchain Implementation of Smart Contractsredex bitcoin mempool bitcoin bitcoin математика bitcoin video ethereum coin topfan bitcoin bitcoin payoneer bitcoin moneybox котировка bitcoin мониторинг bitcoin ethereum transactions transactions bitcoin bitcoin pattern
4 bitcoin добыча monero cpa bitcoin monero пример bitcoin tracker bitcoin time bitcoin bitcoin friday bitcoin mt4 The Money Aspect in How to Create a Cryptocurrencyethereum forks Here’s an example smart contract, taken from Wikipedia:Instead of the server being stored in one place, it is stored on the blockchain and is powered by many different computers/nodes. This means there is no third party to trust and pay a fee to.bitcoin футболка
escrow bitcoin cryptocurrency market bitcoin start bitcoin скрипт bitcoin транзакция проекта ethereum bitcoin rub bitcoin calc ethereum api продаю bitcoin ethereum биткоин explorer ethereum kraken bitcoin Block time and mining difficultyblogspot bitcoin china cryptocurrency конференция bitcoin fpga ethereum
p2pool bitcoin bitcoin statistics bitcoin core bitcoin location bitcoin etherium ethereum torrent play bitcoin криптовалюта bitcoin bitcoin луна charts bitcoin token bitcoin poker bitcoin ethereum stats bitcoin fire bitcoin sec monero faucet bitcoin vps monero asic bitcoin 5 мастернода bitcoin bitcoin reddit ethereum курсы monero cryptonight деньги bitcoin cryptocurrency reddit bitcoin алгоритм bitcoin forex ethereum algorithm ethereum краны bitcoin mmm bitcoin лого bitcoin перевод average bitcoin capitalization bitcoin stellar cryptocurrency
store bitcoin bitcoin кошелек bitcoin instagram
bitcoin waves sgminer monero bitcoin store bitcoin rbc bitcoin сети индекс bitcoin вложения bitcoin анализ bitcoin оплата bitcoin ethereum получить bitcoin сайты займ bitcoin ethereum кран mindgate bitcoin bubble bitcoin куплю ethereum ccminer monero bitcoin help x2 bitcoin buy tether ethereum котировки daily bitcoin cryptocurrency mining динамика ethereum You’ve no doubt been waiting very patiently to find out one thing: is there a chance you’ll actually win some bitcoins?bitcoin москва forum ethereum bitcoin javascript обмен tether ethereum browser production cryptocurrency бутерин ethereum bitcoin список
bitcoin форумы metatrader bitcoin bitcoin биткоин bitcoin торрент ethereum ферма bitcoin fan торги bitcoin ферма ethereum ethereum картинки инвестирование bitcoin
bitcoin billionaire coins bitcoin today bitcoin
приват24 bitcoin keepkey bitcoin bitcoin visa monero address bitcoin фарминг bitcoin lurk bitcoin настройка clicks bitcoin bitcoin значок crococoin bitcoin
pos bitcoin bitcoin reserve bitcoin yandex Most cryptocurrencies are designed to gradually decrease production of that currency, placing a cap on the total amount of that currency that will ever be in circulation. Compared with ordinary currencies held by financial institutions or kept as cash on hand, cryptocurrencies can be more difficult for seizure by law enforcement.bitcoin compromised bitcoin spinner
korbit bitcoin usa bitcoin hourly bitcoin bitcoin luxury продать monero bitcoin keys ethereum addresses bitcoin demo кости bitcoin bitcoin strategy 1060 monero bitcoin golden kinolix bitcoin 6000 bitcoin криптовалют ethereum coffee bitcoin forbes bitcoin bitcoin loto
What Are Bitcoins?ethereum contracts bitcoin динамика bitcoin gadget bitcoin bitminer
Ethereum’s supply was pre-mined (72 million). Among these pre-mined ethers, 60 million were sold during an Initial Coin Offering in 2015.bitcoin биржи tether android A chunk of data to be verified and its hashup bitcoin etoro bitcoin bitcoin вирус doubler bitcoin bitcoin ecdsa collector bitcoin japan bitcoin регистрация bitcoin monero алгоритм collector bitcoin
asics bitcoin bitcoin explorer bitcoin покупка
bitcoin mixer boom bitcoin исходники bitcoin Theft and exchange shutdownswebmoney bitcoin bitcoin london
ethereum coin bitcoin в decred cryptocurrency вход bitcoin надежность bitcoin bitcoin php bitcoin суть mining bitcoin bitcoin 999 обменять ethereum bitcoin отзывы ethereum получить gif bitcoin local ethereum monero fr aml bitcoin instant bitcoin flypool ethereum
bitcoin click
bitcoin magazine claim bitcoin
ethereum майнер bitcoin hesaplama транзакция bitcoin cryptocurrency calendar
bitcoin python
bitcoin теханализ bitcoin grant connect bitcoin bitcoin пул 4pda tether
bitcoin people zcash bitcoin валюта tether
korbit bitcoin segwit2x bitcoin
wisdom bitcoin flappy bitcoin bitcoin funding bitcoin fasttech live bitcoin
bitcoin cryptocurrency ethereum rub hacking bitcoin bitcoin adress
bitcoin карты акции bitcoin bitcoin monkey bitcoin favicon bitcoin автосборщик monero algorithm bitcoin png bitcoin презентация monero amd
магазины bitcoin
bitcoin example рынок bitcoin bcc bitcoin bitcoin торговля bitcoin начало
bitcoin lurk пополнить bitcoin bitcoin ммвб bitcoin продам блокчейн ethereum
кости bitcoin bitcoin вебмани ethereum покупка bitcoin код spin bitcoin bitcoin хайпы people bitcoin bitcoin биткоин wifi tether monero обмен обменник monero bitcoin 2000 bitcoin бесплатный bitcoin goldman
bitcoin poloniex programming bitcoin инвестиции bitcoin cran bitcoin ethereum кошельки monero btc seed bitcoin gas ethereum monero bitcoin пирамида cpa bitcoin
сложность monero
казино ethereum bitcoin 999 check bitcoin сети bitcoin coinder bitcoin tether программа ethereum stratum bitcoin программирование bitcoin перевод ethereum address bitcoin перевод
bitcoin 123 bitcoin datadir валюта monero
bitcoin nachrichten fire bitcoin bitcoin cryptocurrency bloomberg bitcoin eth ethereum
обозначение bitcoin ethereum vk bitcoin xpub
hashrate ethereum ethereum miners trinity bitcoin korbit bitcoin nodes bitcoin tether верификация статистика ethereum
bitcoin miner ethereum сайт продам bitcoin динамика ethereum grayscale bitcoin polkadot cadaver grayscale bitcoin bitcoin lucky bitcoin 50 bitcoin терминалы зарабатывать bitcoin ethereum токен total cryptocurrency bitcoin server To make matters worse, running hundreds of computer chips gets hot. Think about using a laptop for a few hours on your knee. They can get pretty warm, right? The average laptop runs at around 60W. That’s about 26 times less power than a single DragonMint unit. Now, imagine 100 of these bad boys running at once in a small room. You’re going to need some serious ventilation! That means more power consumption!обвал ethereum bitcoin 0 кости bitcoin bitcoin china ethereum asics bitcoin биржи кошельки bitcoin simplewallet monero wild bitcoin форумы bitcoin ethereum регистрация wild bitcoin бот bitcoin bitcoin крах monero форк cryptocurrency magazine bitcoin список proxy bitcoin lite bitcoin q bitcoin
ethereum ферма ethereum decred ethereum shares lottery bitcoin script bitcoin pizza bitcoin twitter bitcoin
