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0 sats \ 0 replies \ @q 25 Sep 2023 \ on: Why does everyone think Bitcoin's supply is fixed? bitcoin
Let's take a deep dive into the source and the maths, but first we need to understand the current rules, in the beginning from the first block the reward for each block was 50 BTC, every 210 000 blocks the reward is cut in half.
To verify this we can read the source code https://github.com/bitcoin/bitcoin/blob/dcfbf3c2107c3cb9d343ebfa0eee78278dea8d66/src/validation.cpp#L1630
So now we can start to test it
- First Halving (2012): 10,500,000 BTC (50 BTC per block * 210,000 blocks)
- Second Halving (2016): 5,250,000 BTC (25 BTC per block * 210,000 blocks)
- Third Halving (2020): 2,625,000 BTC (12.5 BTC per block * 210,000 blocks)
These are the present halving, as you can see the tola amount of bitcoin minted each halving decrease and will do that until it is down to 0 sats. So down the road the last halving will have a reward on 1 sats for every block somewhere around year 2140.
So if you would summarise the amount of new coins for all halvings that number would print 21 000 000.