Bitcoin inventor Satoshi Nakamoto capped the number of Bitcoin at 21 million, to make the cryptocurrency scarce and control inflation that might arise from an unlimited supply . Bitcoin is “mined” by miners who solve mathematical puzzles to verify and validate block of transactions occurring in its network.
Read moreWill Bitcoin stop halving?
Even so, the final bitcoin will likely not be minted until some time around 2140 , according to current estimates. The rate at which new bitcoin are mined is geared to slow down over time. The reward for mining each block of bitcoin – which is done every 10 minutes – halves every 210,000 blocks.
Read moreIs Bitcoin going to split?
Considering that new Bitcoins are mined roughly every 10 minutes, the next halving is expected to happen sometime in early 2024 , and a miner’s reward will drop to 3.125 BTC. Bitcoin investors or traders should keep in mind that a halving often comes with a sizable amount of instability and turmoil for cryptocurrency.3 Oca 2022
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