New bitcoins are mined?

[carlosdelagarza]

When the circulating supply increases, we can say "new bitcoins were mined"?


To have it clear, new bitcoins are created or we "discover/found" it?

[tubexc]

 New bitcoins are generated  due to bitcoin halving , not discovered 

[Flying Hellfish]

New bitcoins are generated  due to bitcoin halving , not discovered 

Not even close LOL... 

OP, Is google fucking broken?  Or is it just way easier to get someone else to do it for you?

[jorneyflair]

When the circulating supply increases, we can say "new bitcoins were mined"?


To have it clear, new bitcoins are created or we "discover/found" it?

Every block that you mine as a bitcoin miner, you get a set reward for it.

Right now, this reward stands at 12.5 bitcoins per block mined. Think of mining bitcoins simply solving really complex maths problems, if you solve this problem first, then you get the reward before anyone else, and new bitcoins are created as a result.

Every 4 years or so(210k blocks) the block reward halves, so in 2020 the block reward will halve to 6.25 BTC per block. As time goes on the amount of new bitcoins created will be lesser and lesser, infinitely close to but never hitting 0.

Hope this helped.

[italianMiner72]

When the circulating supply increases, we can say "new bitcoins were mined"?


To have it clear, new bitcoins are created or we "discover/found" it?

in a simple explanation "Mining" stay for use computational power to resolve a mathematical problem.
At the beginning this problem had a low complexivity, and could be solved with a low computational power.. for example in a "SOLO MINING" mode...
by the difficulty increase, this problems become ever and ever more complex... and to solve this problem was born the so called "MINIG POOL".
When a miner, in solo or pool mode, mine a block, means who have found the solutuions to this problem and it is rewarded by 12,5btc + commission fee

[morenomunozdelanava]

When the circulating supply increases, we can say "new bitcoins were mined"?


To have it clear, new bitcoins are created or we "discover/found" it?

Every block that you mine as a bitcoin miner, you get a set reward for it.

Right now, this reward stands at 12.5 bitcoins per block mined. Think of mining bitcoins simply solving really complex maths problems, if you solve this problem first, then you get the reward before anyone else, and new bitcoins are created as a result.

Every 4 years or so(210k blocks) the block reward halves, so in 2020 the block reward will halve to 6.25 BTC per block. As time goes on the amount of new bitcoins created will be lesser and lesser, infinitely close to but never hitting 0.

Hope this helped.

Thanks, I finally understood a little bit better. Great simple explanation
I´d love to start learning about mining to earn money, but I have ZERO knowledge about computers, do you think it´s possible?

[mocacinno]

Thanks, I finally understood a little bit better. Great simple explanation
I´d love to start learning about mining to earn money, but I have ZERO knowledge about computers, do you think it´s possible?

Sorry to be the one to give you the bad news, but nowadays, you cannot make money mining BTC unless:

• you pay less than 6-7 cents/Kwu for your power
• you live in a country with  low import duties
• you have a budget of a couple thousand dollar
• you have a naturally cool place, shelves, good power circuits, extra PSU's where a lot of noise isn't a problem
• you have a basic understanding about how Bitcoin works
• you have some technical skills (cooling, networking,...)
• you're willing to invest a lot of time doing research, making plans, setting everything up, monitoring,...

If you had to answer "no" for one of the points above, i would not start mining BTC if i were you...
If you try mining altcoins, some of the above restraints might not be necessary... I've heared about people making profit mining altcoins while paying a lot more for their power, or starting from a much lower budget (for example)

[morenomunozdelanava]

Thanks, I finally understood a little bit better. Great simple explanation
I´d love to start learning about mining to earn money, but I have ZERO knowledge about computers, do you think it´s possible?

Sorry to be the one to give you the bad news, but nowadays, you cannot make money mining BTC unless:

• you pay less than 6-7 cents/Kwu for your power
• you live in a country with  low import duties
• you have a budget of a couple thousand dollar
• you have a naturally cool place, shelves, good power circuits, extra PSU's where a lot of noise isn't a problem
• you have a basic understanding about how Bitcoin works
• you have some technical skills (cooling, networking,...)
• you're willing to invest a lot of time doing research, making plans, setting everything up, monitoring,...

If you had to answer "no" for one of the points above, i would not start mining BTC if i were you...
If you try mining altcoins, some of the above restraints might not be necessary... I've heared about people making profit mining altcoins while paying a lot more for their power, or starting from a much lower budget (for example)

Definitely not my area, then. I have no background on computering, so I guess I´ll pass. I´ll concentrate on studying about trading Thanks for the explanation! 

[odolvlobo]

... Every 4 years or so(210k blocks) the block reward halves, so in 2020 the block reward will halve to 6.25 BTC per block. As time goes on the amount of new bitcoins created will be lesser and lesser, infinitely close to but never hitting 0.

Actually it does go to 0. Eventually, it will go to 3 satoshis, then 1 satoshi, then 0.

[morenomunozdelanava]

Then miners will lose interest if they can´t make money, won´t they?
What will happen then?

[mocacinno]

Then miners will lose interest if they can´t make money, won´t they?
What will happen then?

the search function is in the top right corner
https://cse.google.com/cse?cx=016660200577587308545%3Aesf40ml9aag&ie=UTF-8&q=what+happens+if+all+bitcoins+are+mined&sa=Google+search#gsc.tab=0&gsc.q=what%20happens%20if%20all%20bitcoins%20are%20mined&gsc.page=1

[morenomunozdelanava]

Sorry  Typical newbie thing, I know.
I try to search first and only ask if completely necessary, but I was a little impatient and shocked

Anyway, very interesting, "Blocks will return 0 satoshis by year 2141 or so" 
I wonder how much a BTC will be then 

[carlisle1]

Sorry  Typical newbie thing, I know.
I try to search first and only ask if completely necessary, but I was a little impatient and shocked

Anyway, very interesting, "Blocks will return 0 satoshis by year 2141 or so" 
I wonder how much a BTC will be then 

so with that premise I guess bitcoin can be worth millions if the trend will continue, bitcoin will be more adopted from that time so even in a small amount
of dust miner will continue to mine this coin till it went back to zero chain cycle so we just needed to prepare our self from that day.

[Myfe]

New bitcoins are generated  due to bitcoin halving , not discovered 

Wow, this is not excusable for a Sr. Member on this forum. You just made this up, right?

[odolvlobo]

New bitcoins are generated  due to bitcoin halving , not discovered 

Wow, this is not excusable for a Sr. Member on this forum. You just made this up, right?

You can depend on members of signature campaigns to post nonsense. The post to increase their post count and earn more money. They don't actually care about what they write.