Post
Topic
Board Bitcoin Discussion
Re: BITCOIN SUPPLY LIMIT
by
mendace
on 01/04/2023, 12:43:56 UTC
As we all know BITCOIN mining will stop once the 21 million mark is reached. According to the information we have 19 millions coins were mined and now circulating. The remaining balance is about 2 millions to be mined. Why it is not possible to mine the remaining BITCOINS before 2140 when the 19 millions mined in just over 10 years?
The Bitcoin protocol calls for the number of BTC created every 10 minutes to halve every 210,000 blocks, in a process known as "halving".  This means that while initially 50 BTC were created every 10 minutes, today only 6.25 BTC are created every 10 minutes.

 Since the "halving" process is predefined and cannot be accelerated, the number of BTC created will gradually decrease over time until it reaches the 21 million mark.  Even if all the miners in the world focused on mining the remaining BTC, the process of reducing the number of BTC created every 10 minutes would remain unchanged.