many cryptocurrencies, including Bitcoin, follow a principle of limited supply defined in their code. Bitcoin has a maximum supply of 21 million coins.
Why limit coin supply?
Satoshi Nakamoto, Bitcoinâs creator, chose this model to mimic gold mining, where the supply is naturally restricted.
Current Bitcoin supply:
Over 19 million Bitcoins have been mined, leaving less than 2 million. Most will be mined in the next few decades, but the last will take about 120 years.
Why the delay?
Every four years, mining difficulty increases, and the block reward is halved, requiring more resources and time over the years.
Miner rewards post-mining:
Once all Bitcoins are mined, miners will receive no rewards for new blocks, only for validating transactions. Concerns about a network collapse have arisen, and some speculate that blockchain rules may change post-mining. However, this is unlikely due to the secure code established by Satoshi Nakamoto.
By 2140, BTC should be a widely used payment method, ensuring that miners receive adequate rewards for transaction validation. $BTC #BTCâ
