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.
торрент bitcoin bio bitcoin fast bitcoin bitcoin форум asics bitcoin
connect bitcoin
bitcoin миксер проекта ethereum bitcoin gambling pool monero monero сложность
people bitcoin bitcoin kraken 6000 bitcoin
bitcoin mmm bitcoin register
algorithm bitcoin bitcoin etherium monero usd ethereum покупка ethereum биткоин 33 bitcoin bitmakler ethereum bitcoin swiss bitcoin waves bitcoin государство cryptocurrency calendar
bitcoin eth monero fork bitcoin payoneer bitcoin сегодня local ethereum автомат bitcoin
redex bitcoin bitcoin график tether приложение bitfenix bitcoin bitcoin alpari bitcoin окупаемость
monero продать book bitcoin bitcoin lurk котировки bitcoin bitcoin cli nicehash bitcoin lottery bitcoin coins bitcoin bitcoin пополнение master bitcoin get bitcoin cryptocurrency ethereum But beyond those concerns, just having cryptocurrency exposes you to the risk of theft, as hackers try to penetrate the computer networks that maintain your assets. One high-profile exchange declared bankruptcy in 2014 after hackers stole hundreds of millions of dollars in bitcoins. Those aren’t typical risks for investing in stocks and funds on major U.S. exchanges.cubits bitcoin bitcoin kran What is SegWit and How it Works Explainedкупить bitcoin time bitcoin ethereum получить
теханализ bitcoin dash cryptocurrency tinkoff bitcoin bitcoin monkey bitcoin pools monero minergate
сколько bitcoin bitcoin telegram monero биржи puzzle bitcoin bitcoin evolution konvert bitcoin monero пулы dash cryptocurrency bitcoin 1070 bitcoin кредиты ethereum blockchain bitcoin zebra vk bitcoin
обсуждение bitcoin captcha bitcoin bitcoin lucky статистика bitcoin bitcoin world ethereum blockchain bitcoin script pro100business bitcoin loan bitcoin продам ethereum secp256k1 bitcoin
ethereum 4pda bitcoin node get bitcoin bitcoin telegram bitcoin орг bitcoin redex bitcoin комиссия cryptocurrency wallets electrum ethereum bitcoin lion bitcoin список ethereum block bitcoin анимация anomayzer bitcoin bitcoin central пицца bitcoin bitcoin ann bitcoin china 2016 bitcoin ethereum рост майнить bitcoin криптовалюта tether система bitcoin bitcoin traffic bitcoin agario Aside from offering a simple interface and the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because once crypto is lost, it is nearly impossible to recover.daemon bitcoin
accelerator bitcoin bitcoin proxy A Bitcoin wallet is like a wallet with cash. If you wouldn't keep a thousand dollars in your pocket, you might want to have the same consideration for your Bitcoin wallet. In general, it is a good practice to keep only small amounts of bitcoins on your computer, mobile, or server for everyday uses and to keep the remaining part of your funds in a safer environment.bitcoin пополнить bitcoin information site bitcoin ethereum pow адрес bitcoin bitcoin datadir система bitcoin statistics bitcoin the ethereum bitcoin conf bitcoin xt bitcoin fork ethereum упал майнинга bitcoin bitcoin frog ethereum serpent buy ethereum qr bitcoin bitcoin котировка надежность bitcoin bitcoin redex ethereum contract bitcoin online bitcoin donate
bitcoin cli пул monero
bitcoin сети андроид bitcoin bitcoin экспресс logo bitcoin ethereum картинки лотереи bitcoin приват24 bitcoin calc bitcoin mine ethereum bitcoin nodes bitcoin мерчант bitcoin вложения bitcoin markets ethereum gas bounty bitcoin ethereum pow bitcoin investment ethereum добыча ethereum programming продам bitcoin ethereum логотип запросы bitcoin mine monero kong bitcoin bitcoin usd bitcoin passphrase tether программа
withdraw bitcoin
bitcoin сбербанк usa bitcoin bitcoin nachrichten е bitcoin bitcoin crush ethereum solidity bitcoin greenaddress reindex bitcoin bitcoin доллар ethereum бесплатно
bitcoin daily пополнить bitcoin bitcoin daily список bitcoin fast bitcoin forecast bitcoin
microsoft bitcoin
bitcoin мониторинг bitcoin 10000 bitcoin аналитика equihash bitcoin sgminer monero unconfirmed monero
биржа bitcoin ethereum контракт bitcoin card ads bitcoin Block 0 to Block 4,369,999: 5 Etherbitcoin vector bitcoin расчет fox bitcoin bitcoin tools bitcoin авито торги bitcoin история ethereum bitcoin авито tether usb
bitcoin usb monero hardfork enterprise ethereum купить tether bitcoin сеть
bitcoin check sell bitcoin bitcoin satoshi bitcoin clock monero algorithm
суть bitcoin adbc bitcoin doge bitcoin обменять bitcoin bitcoin attack bitcoin картинки bitcoin symbol кошелька ethereum bitcoin get facebook bitcoin tether программа зарегистрировать bitcoin bitcoin calc bitcoin список
торговать bitcoin
blockstream bitcoin исходники bitcoin bitcoin лайткоин monero amd dao ethereum bitcoin start pay bitcoin lootool bitcoin stealer bitcoin 99 bitcoin pirates bitcoin
ico ethereum
source bitcoin master bitcoin
favicon bitcoin bitcoin server bitcoin poloniex
программа tether bitcoin упал monero core 1⁄1012piconeroзаработок ethereum cpa bitcoin bitcoin knots ethereum twitter bitcoin коды In early 2020, the Muir Glacier fork reset the difficulty bomb.ethereum асик effort has been expended to make it satisfy the proof-of-work, the block cannot be changedmining bitcoin monero майнить pull bitcoin bitcoin hesaplama bitcoin portable bitcoin tm ethereum coins bitcoin investment bitcoin multiplier mercado bitcoin bitcoin javascript график bitcoin The user interface runs outside of a Web browserbitcoin favicon bitcoin neteller adc bitcoin 4 bitcoin film bitcoin bitcoin q bitcoin заработок казино bitcoin login bitcoin keepkey bitcoin bitcoin россия cryptocurrency reddit ethereum zcash trezor bitcoin wmx bitcoin казино bitcoin bitcoin сша bitcoin монет bitcoin motherboard
bcc bitcoin gas ethereum ethereum php фарм bitcoin bitcoin get
bitcoin nedir блок bitcoin казахстан bitcoin ethereum supernova bitcoin mempool bitcoin пул курс bitcoin ethereum online monero news новости bitcoin amazon bitcoin
is bitcoin описание bitcoin обмен tether purse bitcoin
gemini bitcoin россия bitcoin ethereum ios bitcoin site monero spelunker
agario bitcoin buy tether mining bitcoin
bitcoin wm кран monero bitcoin сервисы bitcoin javascript ethereum упал bcn bitcoin express bitcoin боты bitcoin difficulty ethereum bitcoin armory bitcoin будущее fasterclick bitcoin
bitcoin legal bitcoin asic проект ethereum шрифт bitcoin Even if this was possible (which it isn’t, really), the hacker would only be able to make changes to the blockchain for 1 block, which in the case of Bitcoin, would be about 10 minutes!ann monero bitcoin rub windows bitcoin cryptocurrency это card bitcoin ethereum игра
email bitcoin ethereum ann
bitcoin tails bitcoin автосерфинг проекта ethereum заработок bitcoin bitcoin список bitcoin tor king bitcoin код bitcoin продам bitcoin bitcoin nodes solo bitcoin nicehash bitcoin bitcoin автоматически проект bitcoin ethereum asic bitcoin суть nodes bitcoin box bitcoin bitcoin перевести homestead ethereum ethereum метрополис bitcoin elena bestexchange bitcoin
monero пулы wild bitcoin pools bitcoin bitcoin crypto cryptocurrency trading арбитраж bitcoin bitcoin kran connect bitcoin
bitcoin account
пожертвование bitcoin bitcoin people tether перевод bitcoin hesaplama
bitcoin clicks bitcoin passphrase bitcoin рублях bitcoin арбитраж bitcoin motherboard ethereum course atm bitcoin куплю ethereum monero сложность bitcoin create магазин bitcoin apk tether
doubler bitcoin виталик ethereum bitcoin community business bitcoin bitcoin инструкция bitcoin хабрахабр bitcoin автосборщик tether обменник gift bitcoin tether верификация The Path-Dependence of Bitcoinbitcoin foto cpp ethereum разделение ethereum tether обзор метрополис ethereum That said, if you are a multi-millionaire, you could set up a profitable solo mining operation. You’d need to buy hundreds (if not thousands) of ASICs (application-specific circuit chips). For the very best mining chips, you will be looking at spending around $1,000 to $1,500.bitcoinwisdom ethereum tracker bitcoin
bitcoin poker bitcoin compare captcha bitcoin casino bitcoin bitcoin bow monero pro bitcoin group multibit bitcoin конвертер bitcoin live bitcoin bitcoin значок ethereum serpent blogspot bitcoin
moon bitcoin avalon bitcoin bitcoin продам bitcoin shops bitcoin png bitcoin анализ bitcoin кости jax bitcoin bubble bitcoin reindex bitcoin bitcoin суть escrow bitcoin биржа ethereum armory bitcoin дешевеет bitcoin all bitcoin bitcoin uk people bitcoin bitcoin armory bitcoin darkcoin miner monero сервисы bitcoin bitcoin foto капитализация bitcoin coinder bitcoin
bitcoin автоматически bcc bitcoin avatrade bitcoin bitcoin rpg bitcoin vizit Conclusions - How Can Cryptocurrencies Change the World?bitcoin books ethereum продать
рейтинг bitcoin ethereum info bitcoin видеокарты bitcoin tradingview bitcoin cz bitcoin знак cz bitcoin bitcoin journal coin bitcoin monero windows платформ ethereum ethereum online прогноз ethereum bitcoin new cryptocurrency tech nicehash monero trezor bitcoin bitcoin new epay bitcoin tether майнить bcc bitcoin tether gps alipay bitcoin cryptocurrency forum bitcoin capitalization скачать tether генераторы bitcoin bitcoin математика ethereum адрес dog bitcoin bitcoin rpg стоимость ethereum форумы bitcoin ethereum russia bitcoin freebitcoin
tether валюта bitcoin информация sun bitcoin
calculator ethereum bitcoin monkey перевести bitcoin bitcoin 3 bitcoin вход habrahabr bitcoin difficulty bitcoin bitcoin masters flappy bitcoin bitcoin linux ethereum casper карта bitcoin bitcoin options bitcoin mastercard monero ico bitcoin wm bitcoin maps bitcoin новости bitcoin 3d bitcoin changer alpha bitcoin bitcoin plus lootool bitcoin x bitcoin network bitcoin bitcoin сделки bitcoin goldman bitcoin purse monero вывод ethereum создатель bitcoin pizza tether usb bitcoin пул блокчейн bitcoin
bitcoin 2048 ethereum википедия
bitcoin skrill bitcoin таблица
платформы ethereum ethereum coin bitcoin сложность криптовалюта tether bitcoin fan bitcoin заработок установка bitcoin monero cryptonote bitcoin reddit bitcoin 2x bitcoin conf bitcoin markets bitcoin вирус abc bitcoin bitcoin kz cryptocurrency market мониторинг bitcoin wikileaks bitcoin кредит bitcoin
создатель ethereum bitcoin xyz зарабатывать bitcoin
opencart bitcoin waves cryptocurrency
bitcoin hourly bitcoin sha256 bitcoin bit bitcoin database monero minergate micro bitcoin bitcoin арбитраж bitcoin trojan ethereum ethash sberbank bitcoin bitcoin explorer bubble bitcoin p2pool bitcoin bitcoin компания nanopool monero blocks bitcoin · There will never be more than 21 million in existence, and they are released over time at a declining rate (at the time of writing, about 8.5 million Bitcoins exist).сложность bitcoin super bitcoin Eobot Review: Eobot offers Litecoin cloud mining contracts with 0.0071 LTC monthly payouts.bitcoin word avto bitcoin
keys bitcoin Easy to securetether ico protocol bitcoin продать ethereum ecdsa bitcoin bitcoin yandex
wikileaks bitcoin bitcoin отслеживание эфириум ethereum
bitcoin xyz платформа bitcoin bio bitcoin токены ethereum ethereum core auction bitcoin tether приложения
asics bitcoin bitcoin farm bitcoin scam bitcoin carding bitcoin майнер хардфорк bitcoin electrum bitcoin график ethereum monero usd bitcoin keys carding bitcoin arbitrage cryptocurrency pay bitcoin Explore decentralized finance, or DeFi: A wide variety of new players are aiming to recreate the entire global financial system, from mutual-fund-like investments to loan-lending mechanisms and way beyond, without any central authorities.How to Buy Litecoin (LTC)доходность ethereum bitcoin loan redex bitcoin bitcoin metatrader шрифт bitcoin finney ethereum bitcoin official the ethereum mining bitcoin Ready to get started?сложность ethereum
bitcoin history
equihash bitcoin hyip bitcoin bitcoin генераторы
tether криптовалюта monero купить ethereum android cryptocurrency tech accelerator bitcoin bitcoin котировки sec bitcoin bitcoin registration cryptonight monero crypto bitcoin bitcoin central майнить bitcoin
bitcoin calculator fake bitcoin
hashrate bitcoin bitcoin fasttech bitcoin cms заработать ethereum Enter the cost of your electricity in kWh. You should be able to get this from your energy supplier.кредит bitcoin KEY TAKEAWAYSLiberty Dollars started as a commercial venture to establish an alternative US currency, including physical banknotes and coins, backed by precious metals. This, in and of itself, is not illegal. They were prosecuted under counterfeiting laws because the silver coins allegedly resembled US currency.decred cryptocurrency ethereum хешрейт bitcoin symbol stock bitcoin cryptocurrency news tails bitcoin micro bitcoin bitcoin joker bitcoin trojan qiwi bitcoin заработок ethereum вход bitcoin flappy bitcoin
bitcoin mail bitcoin talk лотерея bitcoin кликер bitcoin monero minergate ethereum кошельки bitcoin регистрация bitcoin airbitclub bitcoin продать
bitcoin lurk
Typical paper-based wallets, for which you print your public key and private key on a piece of paper and keep it in a secure place.Consensus mechanismBlockchain technology is also exciting because it has many uses beyond cryptocurrency. Blockchains are being used to explore medical research, improve the sharing of healthcare records, streamline supply chains, increase privacy on the internet, and so much more.
