Quote from: jorneyflair on July 03, 2017, 07:44:51 AM

Quote from: carlosdelagarza on July 02, 2017, 05:59:55 PM

When the circulating supply increases, we can say "new bitcoins were mined"?

To have it clear, new bitcoins are created or we "discover/found" it?

Every block that you mine as a bitcoin miner, you get a set reward for it.

Right now, this reward stands at 12.5 bitcoins per block mined. Think of mining bitcoins simply solving really complex maths problems, if you solve this problem first, then you get the reward before anyone else, and new bitcoins are created as a result.

Every 4 years or so(210k blocks) the block reward halves, so in 2020 the block reward will halve to 6.25 BTC per block. As time goes on the amount of new bitcoins created will be lesser and lesser, infinitely close to but never hitting 0.

Hope this helped.

Thanks, I finally understood a little bit better. Great simple explanation

I´d love to start learning about mining to earn money, but I have ZERO knowledge about computers, do you think it´s possible?