Cryptocurrency Q&A
What happens after 21 million bitcoins are mined?
What happens after 21 million bitcoins are mined?
Maria
Tue Jun 11 2024
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5 answers
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Could you please elaborate on what will occur once the 21 million bitcoins have been fully mined? Will the blockchain continue to function? Will there be any changes in the mining process? Will transactions still be processed? And how might this affect the value and future of Bitcoin? It's intriguing to ponder the consequences of reaching this milestone in the cryptocurrency world.
5 answers
Emanuele
Thu Jun 13 2024
Once the maximum supply of 21 million Bitcoins is reached, the minting of new coins will come to a halt. This cap is a crucial element that gives Bitcoin its scarcity and value.
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Silvia
Thu Jun 13 2024
By the year 2140, miners will no longer receive block rewards for their computational efforts. Instead, they will rely solely on transaction fees as a source of income.
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CryptoVanguard
Thu Jun 13 2024
This design choice guarantees the stability and predictability of the Bitcoin supply. It ensures that the total number of Bitcoins in circulation will never exceed 21 million.
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Stefano
Thu Jun 13 2024
Bitcoin's code incorporates a halving mechanism, a fundamental aspect of its monetary policy. This mechanism ensures that the issuance of new Bitcoins is strictly controlled and finite.
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Lucia
Thu Jun 13 2024
BTCC, a cryptocurrency exchange headquartered in the UK, offers a range of services that cater to the needs of Bitcoin enthusiasts and investors. These services include spot trading, futures trading, and wallet solutions.
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