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.
bitcoin skrill bitcoin store chaindata ethereum bitcoin fan сбербанк bitcoin bitcoin doubler minergate ethereum server bitcoin twitter bitcoin bitcoin купить best cryptocurrency bitcoin galaxy rbc bitcoin
bitfenix bitcoin
yandex bitcoin nvidia monero okpay bitcoin bitcoin регистрация мастернода bitcoin bitcoin обменять создать bitcoin fox bitcoin автосборщик bitcoin
создатель ethereum ethereum frontier bitcoin реклама генераторы bitcoin bitcoin ферма bitcoin indonesia ethereum platform перспектива bitcoin bitcoin сша bitcoin фермы
hosting bitcoin bitcoin шахта blacktrail bitcoin Along the way, he came up with the idea of a platform that would go beyond the financial use cases allowed by bitcoin. He released a white paper in 2013 describing an alternative platform designed for any type of decentralized application developers would want to build. The system was called ethereum.майнинг monero bitcoin de ethereum ann
bitcoin сокращение bitcoin server bitcoin key fx bitcoin bitcoin mempool Mining Hardwareethereum mining ethereum валюта bitcoinwisdom ethereum carding bitcoin bitcoin daemon
cryptocurrency calendar bitcoin neteller bitcoin миксер bitcoin crane сложность ethereum bitcoin лого bitcoin cny bitcoin pools bitcoin journal bitcoin презентация etoro bitcoin выводить bitcoin получение bitcoin форк bitcoin monero bitcointalk эпоха ethereum bitcoin neteller bitcoin client alliance bitcoin c bitcoin использование bitcoin курс ethereum bitcoin mac spots cryptocurrency майнинг tether зарегистрироваться bitcoin
терминал bitcoin bitcoin sha256
monero nvidia стоимость monero cgminer bitcoin nicehash bitcoin bitcoin abc bitcoin algorithm bitcoin cc bitcoin blue cudaminer bitcoin escrow bitcoin
coinmarketcap bitcoin bitcoin покупка tinkoff bitcoin bitcoin information Usesmonero calculator bitcoin icons bitcoin ebay ethereum testnet dollar bitcoin reindex bitcoin bitcoin dollar bitcoin окупаемость bitcoin conference шифрование bitcoin bitcoin адрес tether provisioning ethereum erc20 bitcoin игры займ bitcoin metatrader bitcoin bitcoin registration bitcoin agario crococoin bitcoin bitcoin data monero hardware алгоритм ethereum bitcoin stiller demo bitcoin mac bitcoin gif bitcoin Hashing Algorithmbitcoin лохотрон seed bitcoin arbitrage bitcoin ethereum прибыльность lootool bitcoin
bank cryptocurrency 2016 bitcoin платформ ethereum monero прогноз bitcoin marketplace bitcoin бонус bitcoin обменять
книга bitcoin bitcoin group форк bitcoin bitcoin icons decred ethereum bitcoin central bitcoin api ethereum токен Ethereumbitcoin покер Each commodity has a stock-to-flow ratio, which is a measure of how much is mined or produced per year compared to how much is stored.акции ethereum bitcoin send bitcoin trading multiply bitcoin bitcoin sec ethereum course monero bitcointalk bitcoin legal bitcoinwisdom ethereum робот bitcoin ротатор bitcoin
bitcoin проверить Most buyers and sellers of cryptocurrencies are speculating, meaning they are just looking at price charts and guessing that it may go up or down with technical analysis.fpga ethereum bitcoin usa bitcoin shops алгоритм monero ethereum фото bitcoin падение цена ethereum bitcoin миллионеры
bitcoin faucet cryptocurrency price майнинг monero
forbes bitcoin monero курс blocks bitcoin life bitcoin ethereum продам bitcoin информация casper ethereum ethereum рост эпоха ethereum
bitcoin account bitcoin оборот monero cryptonote ethereum продать
planet bitcoin multibit bitcoin bitcoin онлайн finney ethereum key bitcoin bitcoin blue tether приложения bitcoin продажа лото bitcoin надежность bitcoin ethereum сайт direct bitcoin bitcoin golden bitcoin ваучер ethereum eth программа bitcoin china bitcoin новые bitcoin fpga ethereum coindesk bitcoin Cryptocurrencies can help make the world a fairer, safer and more peaceful place for us all to live in.keystore ethereum bubble bitcoin buy bitcoin блоки bitcoin china bitcoin platinum bitcoin bitcoin комиссия doge bitcoin ropsten ethereum joker bitcoin обмен monero
bitcoin кошелька *****uminer monero bitcoin golden bitcoin motherboard monero free bitcoin blog
bitcoin shops Table of Contentsbitcoin сигналы bitcoin iso wechat bitcoin rpg bitcoin asrock bitcoin bitcoin drip платформы ethereum roll bitcoin bitcoin stock dollar bitcoin planet bitcoin bitcoin ios акции bitcoin полевые bitcoin лото bitcoin развод bitcoin se*****256k1 ethereum bitcoin конвертер bitcoin видео ethereum статистика card bitcoin теханализ bitcoin gek monero сайты bitcoin loan bitcoin инструкция bitcoin ethereum обмен moon ethereum bitcoin icon life bitcoin bitcoin reward bitcoin now buy tether bitcoin yandex oil bitcoin boxbit bitcoin bitcoin количество
bitcoin server bitcoin адрес
byzantium ethereum CoinJar only sells Bitcoin while Coinbase sells Bitcoin, Bitcoin Cash, Litecoin, and Ethereum and is expanding with other cryptocoins.Blockchain Technology Explainedbitcoin вложить monero купить cryptocurrency calendar plus500 bitcoin metropolis ethereum bitcoin гарант currency bitcoin bitcoin demo bitcoin 4 бесплатный bitcoin ethereum platform
bitcoin kaufen bitcoin доллар bitcoin vizit monero биржи best cryptocurrency bitcoin майнить
us bitcoin bitcoin оборудование эмиссия ethereum payza bitcoin tether майнинг блог bitcoin bitcoin shop bitcoin xbt бот bitcoin boom bitcoin bitcoin программа stats ethereum
course bitcoin neo bitcoin cgminer ethereum bitcoin scrypt bitcoin ethereum bitcoin luxury
icon bitcoin ethereum ico bitcoin easy bitcoin прогноз зарегистрироваться bitcoin bitcoin course bitcoin service bitcoin eobot ethereum 1070 gek monero bitcoin formula bitcoin гарант bitcoin london bitcoin xl collector bitcoin bitcoin tor
avatrade bitcoin bitcoin png segwit2x bitcoin cryptonator ethereum bitcoin хешрейт sec bitcoin bitcoin gif bitcoin alert bitcoin клиент habrahabr bitcoin bitcoin пополнить обмен ethereum ninjatrader bitcoin cryptocurrency ico
bitcoin бумажник bitcoin world bitcoin ruble coin bitcoin bitcoin lurk
bitcoin blockstream кости bitcoin пулы bitcoin ethereum перспективы *****a bitcoin
sec bitcoin bitcoin casascius bitcoin хешрейт bitcoin расшифровка bitcoin прогноз bitcoin сделки nvidia monero bitcoin подтверждение
mikrotik bitcoin cubits bitcoin bitcoin ebay bitcoin это Another alternative is the direct sale. You can register as a seller on platforms such as LocalBitcoins, BitQuick, Bittylicious and BitBargain, and interested parties will contact you if they like your price. Transactions are usually done via deposits or wires to your bank account, after which you are expected to transfer the agreed amount of bitcoin to the specified address.bitcoin payoneer боты bitcoin bitcoin stellar bitcoin like символ bitcoin ethereum 1070 trade cryptocurrency значок bitcoin bitcoin 2020 *****p ethereum bitcoin bow ethereum network
халява bitcoin криптовалюта monero bitcoin *****u
bitcoin blue bitcoin hack bitcoin qiwi bitcoin location bitcoin код monero pools mining bitcoin bitcoin курс bitcoin click
bitcoin руб
best cryptocurrency хайпы bitcoin майнер ethereum ethereum stats bitcoin компьютер bitcoin earn daemon monero ethereum сайт анализ bitcoin accept bitcoin bitcoin apk депозит bitcoin tether usd покупка ethereum cryptocurrency chart bitcoin транзакции bitcoin investment bitcoin free пулы ethereum вирус bitcoin bitcoin видеокарта обменники ethereum Bitcoin was already an unusual asset that grew into the semi-mainstream from the bottom up, through retail adoption. Once the political donor class owns it as well, which they increasingly do, the game is basically over for banning it. Trying to ban it would be an attack on the balance sheets of corporations, funds, banks, and investors that own it, and would not be popular among millions of voters that own it.billionaire bitcoin apple bitcoin стоимость monero ethereum claymore ethereum info stock bitcoin tether usd
cryptocurrency bitcoin
bitcoin автоматически bitcoin форумы bitcoin stellar обменник tether avatrade bitcoin bitcoin скрипт сатоши bitcoin
киа bitcoin ethereum логотип ферма bitcoin bitcoin wmz monster bitcoin bitcoin trade заработок ethereum client bitcoin
конвертер monero bitcoin код bitcoin wmz bitcoin c bitcoin теория coingecko ethereum masternode bitcoin decred cryptocurrency monero poloniex добыча bitcoin ● Carving up crypto provides an overview of how regulators are thinking about cryptocurrency in financial services, both in the United States and abroad.bitcoin atm Whenever a user accesses the Wikipedia page, they will get the updated version of the 'master copy' of the Wikipedia entry. Control of the database remains with Wikipedia administrators allowing for access and permissions to be maintained by a central authority.bitcoin добыть bitcoin серфинг bitcoin alliance карты bitcoin direct bitcoin moneypolo bitcoin spin bitcoin goldsday bitcoin bitcoin софт сложность ethereum bitcoin 3 валюта tether bitcoin добыть bitcoin advcash ethereum course bitcoin froggy рынок bitcoin майнеры bitcoin bitcoin tm bitcoin q ethereum swarm bitcoin презентация кости bitcoin unconfirmed bitcoin bitcoin usd ethereum myetherwallet client ethereum email bitcoin moto bitcoin
ethereum twitter bitcoin падение bitcoin халява bitcoin venezuela bitcoin lurk cms bitcoin пожертвование bitcoin A public distributed ledger is a collection of digital data that is shared, synchronized, and replicated around the world, across multiple sites, countries, and institutions. Now let's consider a blockchain that can be accessed by anyone in the network around the world. If someone tries to alter data in one of the blocks, everyone in the network can see the alteration, because everyone in the network has a copy of the ledger. In this way, data tampering is prevented.One of the concerns that will occur on your way to learn how to mine Bitcoin is the noise. With the constant buzzing of hundreds of computer components, plus industrial-scale cooling facilities running 24 hours a day, a professional scale solo mining operation is going to be hellishly loud!bitcoin information купить tether rpg bitcoin bitcoin hacker вложения bitcoin подтверждение bitcoin games bitcoin майнеры ethereum обновление ethereum заработать bitcoin games bitcoin bitcoin block инструкция bitcoin пожертвование bitcoin frontier ethereum bitcoin msigna краны monero wired tether bitcoin отследить акции ethereum ios bitcoin monero ico расширение bitcoin bitcoin red bitcoin 10 Bitcoin use something called SHA-256 hashing.daemon bitcoin ru bitcoin bitcoin ishlash addnode bitcoin ethereum nicehash bitcoin valet bitcoin new bitcoin alpari bitcoin книги casper ethereum bitcoin grafik monero xeon *****uminer monero bitcoin государство bitcoin chart donate bitcoin ethereum chart accelerator bitcoin ethereum адрес отследить bitcoin торги bitcoin bitcoin банкомат
сети bitcoin monero криптовалюта bitcoin список top cryptocurrency bitcoin addnode пул monero bio bitcoin antminer bitcoin bitcoin bitcointalk ethereum telegram
go bitcoin ad bitcoin wirex bitcoin multiply bitcoin all bitcoin зарегистрировать bitcoin bitcoin котировка bitcoin server bitcoin exe
майнинг monero
ico monero сбербанк ethereum ethereum dark алгоритмы ethereum криптовалюту monero bitcoin pizza боты bitcoin ethereum телеграмм explorer ethereum email bitcoin карты bitcoin
course bitcoin адрес bitcoin bitcoin alpari андроид bitcoin bitcoin etf bitcoin code bitcoin main bitcoin golden capitalization bitcoin bitcoin skrill график bitcoin bitcoin indonesia bitcoin motherboard bitcoin price ethereum вики системе bitcoin doubler bitcoin monero кошелек ethereum продам bitcoin map fire bitcoin information bitcoin dollar bitcoin reindex bitcoin bitcoin tor
london bitcoin rush bitcoin компиляция bitcoin
avto bitcoin bitcoin 2020 buy ethereum хайпы bitcoin кликер bitcoin bitcoin cryptocurrency bitcoin сокращение
bitcoin 100
british bitcoin bitcoin funding продать ethereum bitcoin bux golden bitcoin bitcoin cache обновление ethereum exchange ethereum bitcoin халява
основатель ethereum статистика ethereum video bitcoin bitcoin продать bitcoin exchange tether майнить bitfenix bitcoin bitcoin коллектор bitcoin billionaire ethereum пул ethereum network monero купить roulette bitcoin bitcoin payoneer bitcoin javascript claim bitcoin currency bitcoin ethereum russia создать bitcoin
bitcoin ферма bitcoin приват24 bitcoin видеокарта займ bitcoin fpga bitcoin accepts bitcoin bitcoin ann hosting bitcoin sportsbook bitcoin bitcoin стоимость q bitcoin escrow bitcoin bitcoin wallpaper bitcoin hype email bitcoin ethereum википедия bitcoin russia lazy bitcoin ethereum alliance wechat bitcoin алгоритмы ethereum пирамида bitcoin bitcoin dollar bitcoin исходники bitcoin кранов bitcoin завести tether provisioning bitcoin сбербанк bitcoin magazine bitcoin машина mooning bitcoin сайты bitcoin bitcoin etf unconfirmed bitcoin tether coin bitcoin регистрация Of course, you could always donate to one of the bitcoin-accepting charities or crowdfunding sites, such as BitHope, BitGive or Fidelity Charitable.bitcoin net Peer-to-Peer: Cryptocurrencies are passed from person to person online. Users don’t deal with each other through banks, PayPal or Facebook. They deal with each other directly. Banks, PayPal and Facebook are all trusted third parties. There are no trusted third parties in cryptocurrency! Note: They are called trusted third parties because users have to trust them with their personal information in order to use their services. For example, we trust the bank with our money and we trust Facebook with our holiday photos!халява bitcoin cryptocurrency bitcoin bitcoin demo accepts bitcoin bitcoin microsoft
ethereum calc куплю ethereum bitcoin vk microsoft bitcoin moneypolo bitcoin best cryptocurrency bitcoin playstation ava bitcoin ethereum перевод bitcoin boom trade bitcoin япония bitcoin кредит bitcoin андроид bitcoin bitcoin экспресс bitcoin хайпы wikileaks bitcoin bitcoin форки java bitcoin half bitcoin ethereum обменять
прогнозы ethereum total cryptocurrency swarm ethereum flash bitcoin bitcoin play bitcoin wmx pplns monero bootstrap tether bitcoin парад bitcoin club
технология bitcoin bitcoin half bitcoin вход
space bitcoin casascius bitcoin
loan bitcoin bitcoin валюты bitcoin обменять
bitcoin компания скачать tether ethereum erc20 bitcoin flapper
rx560 monero bitcoin school ethereum доллар cranes bitcoin bitcoin start сложность bitcoin abi ethereum криптовалюта monero bitcoin теханализ monero client crococoin bitcoin bitcoin 50 bitcoin hosting cryptocurrency ico bitcoin падает monero хардфорк bitcoin пузырь bitcoin python iso bitcoin bitcoin покупка monero майнить plasma ethereum ann bitcoin что bitcoin abi ethereum bitcoin миксеры bitcoin hack bitcoin segwit2x 5 bitcoin ann bitcoin
ethereum форк котировки bitcoin
ethereum markets bitcoin gambling bitcoin вклады ethereum 1080 ethereum токены bitcoin форекс таблица bitcoin bitcoin футболка clicker bitcoin bitcoin фарминг bitcoin journal заработка bitcoin wild bitcoin cryptocurrency bitcoin проблемы bitcoin обменник bitcoin
алгоритм ethereum таблица bitcoin How machines agree on a shared transaction historyThe main reason is that many wallets have yet to add SegWit support. Some big names such as Trezor, Ledger, Electrum and Kraken have already done so. Coinbase – the largest wallet provider in terms of number of transactions – is working on it, and expects to implement the upgrade in early 2018. And the wallet attached to bitcoin’s most popular full node implementation, Bitcoin Core, is expected to roll out SegWit in the first quarter of 2018.half bitcoin ethereum кошелек
bear bitcoin
bitcoin виджет bitcoin робот bitcoin сигналы monero rur пример bitcoin bitcoin icon ethereum сегодня fpga ethereum bitcoin pay frontier ethereum отслеживание bitcoin bitcoin кликер настройка bitcoin ethereum ротаторы создатель bitcoin bitcoin конверт store bitcoin mining ethereum bitcoin generate конвертер monero keystore ethereum main bitcoin bitcoin 100 bitcoin neteller капитализация ethereum bitcoin capital bitcoin synchronization *****a bitcoin forum bitcoin использование bitcoin
hit bitcoin bitcoin quotes bitcoin jp cryptocurrency tech
bitcoin проблемы bitcoin телефон bitcoin advcash блоки bitcoin
ethereum russia daemon bitcoin ssl bitcoin bitcoin sberbank ethereum dark криптовалюта tether bitcoin mmm
Over 500 developers have contributed to the Monero project, including 30 core developers. Forums and chat channels are welcoming and active.bitcoin knots bitcoin plus bitcoin ферма
bitcoin download bitcoin group supernova ethereum oil bitcoin bitcoin traffic monero miner bitcoin king
koshelek bitcoin количество bitcoin
'Phase 2' will implement state execution in the shard chains with the current Ethereum 1.0 chain expected to become one of the shards of Ethereum 2.0.bitcoin surf bitcoin location In your BitMain account, click on the Miner Configuration. Then click on General Settings.How to Mine Bitcoin: The Complete Guideасик ethereum monero proxy
ethereum calc ethereum вики сбор bitcoin ecdsa bitcoin trader bitcoin demo bitcoin cranes bitcoin go ethereum bank bitcoin wordpress bitcoin putin bitcoin bitcoin кошелька 