DiamondStorm
Thu Jul 11 2024
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5 answers
943
How much is a block reward if all 21 million bitcoins are mined?
With the finite supply of 21 million bitcoins in existence, one might wonder: what is the value of a block reward once all bitcoins are mined? The original block reward for mining a Bitcoin block was 50 bitcoins, which halved every 210,000 blocks approximately every four years. This process, known as 'halving', ensures the scarcity of bitcoins and rewards miners with fewer coins over time. However, once the 21 millionth bitcoin is mined, there will be no more bitcoins to reward miners. This begs the question: how will miners be incentivized to continue securing the network? It's likely that miners will rely on transaction fees to compensate for their efforts, as the block reward will no longer exist. But the precise value of a block reward at that point remains unknown, as it's contingent upon market conditions and the network's future evolution.
