Cryptocurrency Q&A
Can we mine Bitcoin forever?
Can we mine Bitcoin forever?
Claudio
Sat Dec 21 2024
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5 answers
1001
I'm wondering if Bitcoin mining can continue indefinitely. Is there a limit to how many Bitcoins can be mined, or can we keep mining them forever without any restrictions?
5 answers
IncheonBlues
Mon Dec 23 2024
When Bitcoin was first launched, miners were rewarded with 50 BTC for each block they successfully mined. This was a significant incentive for early miners to contribute their computing power to the network.
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Margherita
Mon Dec 23 2024
However, this reward structure isn't static. Every 210,000 blocks, the block reward is halved. This is a deliberate design choice to ensure the scarcity of Bitcoin and maintain its value over time.
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Daniela
Mon Dec 23 2024
As a result of this halving cycle, the number of Bitcoins entering the market decreases with each passing era. By around 2140, it's estimated that all 21 million Bitcoins will have been mined, and no new Bitcoins will be created.
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CryptoPioneer
Mon Dec 23 2024
At this point, the block reward will become zero, meaning miners will no longer receive new Bitcoins for their work. Instead, they will rely on transaction fees to incentivize their participation in the network.
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Moonshadow
Mon Dec 23 2024
The hard cap of Bitcoin stands at 21 million, but this limit isn't specified in a solitary line of code. Instead, it's embedded within the cryptocurrency's protocol.
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