Cryptocurrency Q&A
What happens if bitcoin reaches the 21 million supply limit?
What happens if bitcoin reaches the 21 million supply limit?
SumoMight
Thu Aug 29 2024
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6 answers
1920
Could you please elaborate on what potential implications the 21 million supply limit of Bitcoin might have on its value, market dynamics, and the broader cryptocurrency ecosystem? How might miners, investors, and the general public be affected once this milestone is reached? Is there any anticipation or speculation within the industry regarding how Bitcoin's scarcity could potentially shape its future?
6 answers
CryptoNinja
Sat Aug 31 2024
The block rewards, which are the new coins issued to miners for successfully verifying transactions, will gradually decrease over time.
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SakuraFestival
Sat Aug 31 2024
The protocol of Bitcoin is designed to have a finite supply, which means there is a limit to the number of coins that can be created.
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MysticGlider
Sat Aug 31 2024
As a result, the last amount of Bitcoin is predicted to be mined around the year 2140, at which point no more new coins will be created.
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Sara
Sat Aug 31 2024
This scarcity is one of the factors that has contributed to the popularity and value of bitcoin as a digital asset.
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BlockchainBrawler
Sat Aug 31 2024
This limit is set at 21 million, and once this number is reached, no more new bitcoin will be issued.
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