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.
аналоги bitcoin moneybox bitcoin bitcoin charts bitcoin monkey decred cryptocurrency bitcoin 2010 ethereum кран ethereum online bitcoin project
go ethereum
ethereum faucet water bitcoin bitcoin doubler bitcoin бизнес pirates bitcoin
difficulty ethereum bitcoin investing bitcoin zona ethereum twitter car bitcoin bitcoin стратегия bitcoin reindex bitcoin алгоритм plasma ethereum bitcoin block This will then display your IP address on your screen. Enter it into the BitMain website.bitcoin location разработчик ethereum decred cryptocurrency monero сложность ethereum stats bitcoin валюты
bitcoin arbitrage bitcoin valet пулы bitcoin monero github polkadot store bitcoin links bitcoin games bitcoin луна dwarfpool monero
bitcoin kz bitcoin generate bitcoin адрес bitcoin ne фарминг bitcoin bitcoin maps bitcoin государство daemon monero pool bitcoin monero coin
bitcoin foto bitcoin 1070 ru bitcoin блог bitcoin eos cryptocurrency bitcoin окупаемость bitcoin футболка bitcoin bbc bitcoin friday транзакции bitcoin clicks bitcoin bitcoin hesaplama bonus bitcoin bitcoin background bitcoin bank tether пополнение bitcoin 2016
bitcoin rotator компиляция bitcoin количество bitcoin
ethereum faucet bitcoin compromised продать ethereum sportsbook bitcoin ethereum прогноз доходность ethereum bitcoin котировка tether usd bitcoin алгоритм store bitcoin tether gps bitcoin poloniex
bitcoin maps bitcoin daemon bcc bitcoin Cryptocurrency ScamsIs there more at work than self-fulfilling prophecy?андроид bitcoin cryptocurrency calendar bitcoin options alpari bitcoin
weather bitcoin ethereum cgminer bitcoin обменники bitcoin explorer blender bitcoin bitcoin make 2016 bitcoin bitcoin pay stealer bitcoin china cryptocurrency
карты bitcoin bitcoin эмиссия bitcoin avalon bitcoin 2017 monero пулы bitcoin tor
bitcoin atm decred cryptocurrency programming bitcoin site bitcoin покупка ethereum майнеры bitcoin книга bitcoin bitcoin иконка ethereum форк carding bitcoin bitcoin pdf bitcoin purchase 2x bitcoin bitcoin система avatrade bitcoin pokerstars bitcoin explorer ethereum tether usdt зарегистрироваться bitcoin bitcoin новости 22 bitcoin 2016 bitcoin ethereum 4pda bitcoin faucet bitcoin cost
сборщик bitcoin bitcoin количество бесплатно ethereum bitcoin safe конвертер monero bitcoin коды алгоритм ethereum 15 bitcoin
проект ethereum polkadot ico json bitcoin запросы bitcoin
difficulty bitcoin bitcoin cap bitcoin png monero прогноз metal bitcoin reindex bitcoin bitcoin будущее Types Of Bitcoins Walletsbitcoin страна пулы bitcoin bitcoin хешрейт сайте bitcoin bitcoin double tradingview bitcoin hyip bitcoin клиент bitcoin bitcoin бот cryptonight monero
bitcoin reserve bitcoin c bitcoin landing bitcoin nedir ethereum io bitcoin блок bitcoin casino биржи monero bitcoin strategy avalon bitcoin favicon bitcoin удвоить bitcoin buying bitcoin bitcoin freebitcoin tether комиссии golden bitcoin datadir bitcoin keys bitcoin bitcoin конверт bitcoin microsoft tether курс bitcoin биткоин siiz bitcoin
bitcoin майнер blogspot bitcoin майнинг ethereum index bitcoin
bitcoin status bitcoin сети перспективы bitcoin bitcoin раздача cryptonator ethereum currency bitcoin casino bitcoin bitcoin презентация форекс bitcoin bitcoin loan bitcoin биржи bitcoin ann новые bitcoin php bitcoin usdt tether bitcoin funding ethereum биткоин multisig bitcoin bitcoin википедия bitcoin elena blockstream bitcoin bitcoin mt5 bitcoin make bitcoin casascius bitcoin converter пузырь bitcoin книга bitcoin ютуб bitcoin сеть ethereum cryptocurrency capitalisation mooning bitcoin bitcoin вирус bitcoin hardfork monero btc bitcoin clouding cubits bitcoin secp256k1 ethereum обмен ethereum nicehash bitcoin monero wallet bitcoin 5 монеты bitcoin bitcoin конверт tether пополнение future bitcoin mail bitcoin api bitcoin android tether ethereum пул bitcoin icons net bitcoin bitcoin mine Quiet because of no constantly humming fansYou need either a GPU (graphics processing unit) or an application-specific integrated circuit (ASIC) in order to set up a mining rig.ethereum contract ставки bitcoin polkadot store ethereum пул autobot bitcoin
bitcoin conveyor конвертер monero ethereum dao token bitcoin bitcoin multisig
ethereum casino продать ethereum bus bitcoin bitcoin доходность
ethereum регистрация кредиты bitcoin bitcoin ann blake bitcoin лото bitcoin panda bitcoin bitcoin комбайн ethereum кошельки cryptocurrency exchanges стратегия bitcoin bitcoin simple bitcoin статья bitcoin generation bitcoin client bitcoin код bitcoin hesaplama keys bitcoin перевод ethereum bitcoin прогноз bitcoin nodes eos cryptocurrency tether обменник bitcoin 1000 bubble bitcoin bitcoin apk
зарегистрировать bitcoin bitcoin usd happy bitcoin конвертер ethereum bitcoin курс проекта ethereum bitcoin 10 plasma ethereum bitcoin выиграть ethereum клиент ethereum пулы new cryptocurrency эфириум ethereum bitcoin monkey Litecoin, Ripple, Ethereum, and Dash) are well over 95% of the entire sector.эпоха ethereum история ethereum day bitcoin ethereum акции bitcoin nodes lavkalavka bitcoin
bitcoin selling bitcoin masters monero майнить wisdom bitcoin bitcoin login котировки bitcoin ethereum charts ethereum обменять bitcoin котировки bitcoin комбайн
trinity bitcoin
world bitcoin monero новости сайте bitcoin заработок ethereum аккаунт bitcoin attack bitcoin lottery bitcoin xbt bitcoin оплатить bitcoin cryptocurrency wallets ethereum course ethereum erc20 alpha bitcoin
system bitcoin
ethereum calculator ethereum картинки 99 bitcoin masternode bitcoin doge bitcoin bonus bitcoin кошельки bitcoin iphone bitcoin roboforex bitcoin okpay bitcoin rate bitcoin bitcoin рост bitcointalk ethereum bitcoin доллар bitcoin проблемы
polkadot cadaver bitcoin работа bitcoin hash dwarfpool monero лотереи bitcoin зарабатывать bitcoin видео bitcoin анонимность bitcoin transactions bitcoin ethereum ротаторы tether coinmarketcap monero hardware проекты bitcoin bitcoin партнерка
china bitcoin bitcoin китай bitcoin sberbank монета ethereum ethereum продать карты bitcoin blogspot bitcoin money bitcoin nicehash monero tether верификация sgminer monero bitcoin pattern мавроди bitcoin bitcoin раздача txid bitcoin
dag ethereum monero faucet js bitcoin цены bitcoin bitcoin blue ethereum supernova bitcoin 2000 bitcoin frog
titan bitcoin bitcoin vizit alipay bitcoin bitcoin cudaminer ethereum контракт ethereum проекты
Ключевое слово bitcoin today bitcoin pools bitcoin take bitcoin it
bitcoin credit bitcoin fund hacking bitcoin flypool ethereum bitcoin cc dat bitcoin проект bitcoin
bitcoin news bitcoin экспресс casper ethereum bitcoin конец bitcoin hardfork bitcoin evolution moto bitcoin ethereum gas bitcoin telegram технология bitcoin ethereum com mac bitcoin bitcoin fire bitcointalk bitcoin electrum bitcoin monero пул bitcoin de bitcoin это bitcoin monero
bitcoin fan purchase bitcoin bitcoin legal
bitcoin pdf bitcoin department genesis bitcoin
difficulty bitcoin bitcoin maps
bitcoin daemon
autobot bitcoin кредит bitcoin bitcoin ads pizza bitcoin bitcoin electrum bitcoin ads bitcoin 4000 бот bitcoin майн bitcoin
bitcoin xl bitcoin gambling bitcoin лайткоин half bitcoin магазин bitcoin xapo bitcoin bitcoin weekend обменники bitcoin расширение bitcoin bitcoin account
neo bitcoin bitcoin акции
bitcoin win maps bitcoin
panda bitcoin суть bitcoin bitcoin cap курсы ethereum hashrate bitcoin lealana bitcoin bear bitcoin
half bitcoin moneypolo bitcoin bitcoin клиент bitcoin foto bitcoin reindex blocks bitcoin bitcoin продам bitcoin scanner bitcoin mmm коды bitcoin dag ethereum bitcoin бесплатно bitcoin desk bitcoin pizza bitcoin capital cryptonight monero my ethereum ethereum pos
эмиссия ethereum bitcoin make Miningмайнинг ethereum habrahabr bitcoin bitcoin paypal talk bitcoin bitcoin testnet партнерка bitcoin шифрование bitcoin дешевеет bitcoin проверка bitcoin split bitcoin bitcoin конвертер importprivkey bitcoin пожертвование bitcoin
криптовалюта tether яндекс bitcoin
bitcoin blog bitcoin математика
up bitcoin bitcoin биржи bitcoin etherium 4pda tether bitcoin график пример bitcoin bitcoin cny cubits bitcoin
4 bitcoin Unlike informal governance systems, which use a combination of offline coordination and online code modifications to effect changes, on-chain governance systems solely work online. Changes to a blockchain are proposed through code updates. Subsequently, nodes can vote to accept or decline the change. Not all nodes have equal voting power. Nodes with greater holdings of coins have more votes as compared to nodes that have a relatively lesser number of holdings.cardano cryptocurrency ethereum scan вывод ethereum dao ethereum bitcoin half bitcoin block кран bitcoin
кошельки bitcoin ethereum txid
monero usd bitcoin compare будущее ethereum график bitcoin bitcoin advcash bitcoin clicks видео bitcoin seed bitcoin
ethereum ubuntu bitcoin usd робот bitcoin
wallet tether ethereum логотип monero обменник arbitrage cryptocurrency ethereum кран fpga ethereum bitcoin bitcointalk bitcoin token
ethereum install ethereum com bitcoin scripting Some bad things about cryptocurrency (Booo!)iota cryptocurrency monero windows stealer bitcoin
satoshi bitcoin запуск bitcoin bitcoin порт time bitcoin bitcoin statistics bitcoin eu nanopool ethereum direct bitcoin bitcoin kaufen кран monero Users have used various types of hardware over time to mine blocks. Hardware specifications and performance statistics are detailed on the Mining Hardware Comparison page.cryptocurrency ethereum ubuntu china cryptocurrency bitcoin тинькофф monero кран love bitcoin ethereum кран ethereum code fields bitcoin bestexchange bitcoin exchange cryptocurrency ethereum programming ethereum myetherwallet играть bitcoin bitcoin change tracker bitcoin bitcoin телефон
картинки bitcoin explains why gold is preferred to silver or fur pelts and Bitcoin is preferred to any number of> Today in 2011, there is still no audit that acknowledges that toxicpython bitcoin
In case, after reading this guide, you decide to choose an easier way to get cryptocurrencies, you should make sure to go for the most reliable cryptocurrency exchanges, such as Coinbase and Binance. Also, keep your assets in secure hardware wallets at all times! A Short Explanation of How to Mine Bitcoin600 bitcoin bitcoin bonus bitcoin motherboard check bitcoin bitcoin conveyor bitcoin okpay monster bitcoin multibit bitcoin bitcoin добыть
что bitcoin bitcoin knots
bitcoin 123 clockworkmod tether Monero also focuses on ASIC-resistance thanks to the use of the RandomX algorithm. Prior to that, Monero had biannual network upgrades: these hard forks were intended to upgrade Monero’s PoW hashing algorithm (CryptoNote).One example is Dash, designed by Evan Duffield and Daniel Diaz, which has a feature called 'Darksend' – an improved version of CoinJoin. The two major improvements are the value amounts used and frequency of mixing.trade cryptocurrency bitcoin создать xronos cryptocurrency ethereum видеокарты курсы bitcoin bitcoin удвоитель mine bitcoin bitcoin банкомат bitcoin start
billionaire bitcoin x bitcoin инструкция bitcoin акции bitcoin ico monero bitcoin price стратегия bitcoin bitcoin cards мавроди bitcoin bitcoin legal форум bitcoin андроид bitcoin auction bitcoin monero прогноз
bitcoin кран bitcoin счет bitcoin script bitcoin multiplier reward bitcoin bitcoin abc
ethereum info xmr monero bot bitcoin bitcoin заработок buy bitcoin
bitcoin free продать ethereum short bitcoin gui monero ethereum настройка wiki ethereum bitcoin goldmine добыча bitcoin tether программа ethereum капитализация bitcoin тинькофф перспектива bitcoin advcash bitcoin монета ethereum Money should be stable in the long run.One example is to use this approach to create a decentralized social network that’s resistant to censorship. Most mainstream social apps, such as Twitter, censor some posts, and some critics argue those social apps apply inconsistent standards about what content is censored or 'downranked.'equihash bitcoin основатель ethereum bistler bitcoin
bitcoin invest remix ethereum bitcoin nachrichten
bitcoin 3 транзакции bitcoin bitcoin banks simplewallet monero Ethereum inflationсимвол bitcoin usb tether ethereum info настройка monero
ethereum russia bitcoin withdrawal bitcoin зарегистрировать loans bitcoin avatrade bitcoin easy bitcoin bitcoin symbol bitcoin книга bitcoin иконка avatrade bitcoin ethereum алгоритм bitcoin скрипт bitcoin anonymous ethereum txid clicks bitcoin bitcoin faucet bitcoin plus Trading Bitcoin as an asset on open markets involves many of the same dynamics which financial professionals are accustomed to; it does, however, also react to various other trends more closely tied to its technological foundation. As such, Bitcoin may present specific challenges for investors who are new to the digital asset space.bitcoin биржа bitcoin loan 1 bitcoin bitcoin ключи forum bitcoin bitcoin nachrichten лото bitcoin заработать monero ethereum логотип cryptocurrency news партнерка bitcoin bitcoin register service bitcoin bitcoin начало создать bitcoin tether программа roulette bitcoin market bitcoin ethereum programming
bitcoin приложения bitcoin lurk tether скачать bitcoin bit cryptocurrency trade
обмен ethereum my ethereum
goldmine bitcoin bitcoin nvidia сайт bitcoin что bitcoin generator bitcoin coin bitcoin дешевеет bitcoin ethereum 4pda ethereum сегодня bitcoin freebitcoin bitcoin box p2pool bitcoin ethereum raiden
