Post
Topic
Board Bitcoin Discussion
Re: The total limit of bitcoin
by
Ndabagi01
on 01/05/2023, 14:15:55 UTC
   My question now is are cryptocurrency miners be unable to generate new bitcoin after it reach the 21 million coin limit?
Since there are over 19.15 million bitcoins in circulation if am not mistaken.

There won't be any more bitcoin to be mined after the 21 million cap has been completely reached by the miners. These are not intended to work that way; rather, the software was created that way before the miners came on board. Only the 21 million bitcoins will be usable after they have all been mined, and miners will only be rewarded for validating transactions into the blockchain.

Even if the reward had significantly decreased by that point, it would still be worthwhile given how much the price of bitcoin would have increased. And given how expensive mining equipment is become, we might also see a decline in the number of miners.