How does the number of Bitcoins that can be mined change over time?

3 answers

• Dec 16, 2021 · 3 years ago
  Sure! The number of Bitcoins that can be mined changes over time due to a process called halving. Approximately every four years, the number of new Bitcoins created and earned by miners is cut in half. This is done to control the supply of Bitcoins and ensure that they are not created too quickly. As a result, the rate at which new Bitcoins are mined decreases over time, leading to a gradual reduction in the number of Bitcoins that can be mined.
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• Dec 16, 2021 · 3 years ago
  The number of Bitcoins that can be mined changes over time because of the halving event. This event occurs approximately every four years and reduces the block reward that miners receive for successfully mining a new block. In the early days of Bitcoin, the block reward was 50 Bitcoins. After the first halving in 2012, it was reduced to 25 Bitcoins. The most recent halving occurred in May 2020, reducing the block reward to 6.25 Bitcoins. This process will continue until the maximum supply of 21 million Bitcoins is reached.
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• Dec 16, 2021 · 3 years ago
  Ah, the number of Bitcoins that can be mined changes over time due to the halving mechanism. You see, every four years, the amount of new Bitcoins created is cut in half. It's like a magic trick that keeps the supply of Bitcoins in check. This halving event is designed to prevent inflation and ensure that Bitcoins are not created too quickly. So, as time goes on, the number of new Bitcoins being mined decreases, making them more scarce and valuable. It's a clever way to maintain the integrity of the Bitcoin network.
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