21 million Bitcoin

[ToQcHista]

i can't  undestrand.

every year halwing block ?

[1714748455]

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[1714748455]

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[1714748455]

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[1714748455]

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[TheRealSteve]

i can't  undestrand.

every year halwing block ?

The block reward - the number of Bitcoins added to the supply when miners solve a block - is halved every 210,000 blocks (approximately every 4 years).  While the blockchain.info graph may appear to be linear, it only appears thus because it's only a small part of the controlled supply curve.  It is displayed at a scale that is appropriate for the site, but doesn't appropriately convey how Bitcoins are added to the supply going further into the future.

[ToQcHista]

what is block reward ?

[ToQcHista]

which years will about destroy bitcoin?

[TheRealSteve]

what is block reward ?

The block reward - the number of Bitcoins added to the supply when miners solve a block

The current block reward is BTC25.  When we hit block 420,00, that will be halved to BTC12.5

which years will about destroy bitcoin?

Odd way of phrasing, but presuming you'd still be asking about when the last bit of Bitcoin would be mined: we don't know.  If mining were ideal according to the code - where each block is solved every 10 minutes - this would have been in October of 2140.  Mining is not ideal, however, as increasing amounts of hashing power are added to the network.  Certainly in the past 2 years each block has on average been taking less than 10 minutes, moving that date up a bit.  There's no accurate way to predict what the hashing power increase (or decrease) will look like many years into the future, but if we were to assume that starting now (roughly) each block would take exactly 10 minutes, the last bit of Bitcoin would be mined in May of 2140 instead.

[ToQcHista]

what is this "block " ?

[ToQcHista]

As I understood , we much block don't should spend? Few people more fine is if much people in mining ?

[Muhammed Zakir]

what is this "block " ?

Data is permanently recorded in the Bitcoin network through files called blocks. A block is a record of some or all of the most recent Bitcoin transactions that have not yet been recorded in any prior blocks. They could be thought of like a stock transaction ledger. In all but a few exceptional cases, new blocks are added to the end of the record (known in Bitcoin as the block chain), and once written, are never changed or removed. Each block memorializes what took place immediately before it was created.

As I understood , we much block don't should spend? Few people more fine is if much people in mining ?

Can you clariy? Are you using a translator? If yes, post in your local language with translated text. It is better to check twice before posting here.

[crazyivan]

You will not live long enough to see that happen. The last one should be mined in about 100 years. The price ll go up much sooner then that.
I would suggest you do a bit more of reading.

[ToQcHista]

in mining few people good is ? if much people more good is ?

[Muhammed Zakir]

in mining few people good is ? if much people more good is ?

AFAIK how many people mine doesn't matter. What matter is how many Hashes are being used for mining.

[ToQcHista]

in mining few people good is ? if much people more good is ?

AFAIK how many people mine doesn't matter. What matter is how many Hashes are being used for mining.

will increase btc price and increase transaction if will add people

[Muhammed Zakir]

will increase btc price and increase transaction if will add people

Price may increase but it doesn't depend solely on number of people and it is same with transactions too.

[gkv9]

will increase btc price and increase transaction if will add people

Price may increase but it doesn't depend solely on number of people and it is same with transactions too.

Why it doesn't have to do anything with number of people possessing it, MZ???
If least people are possessing these coins (like many hodling), can't they try to manipulate the price higher just because they hold the biggest piece of the cake (in such a case where demand is much more as if it gets mainstream)

[Muhammed Zakir]

Why it doesn't have to do anything with number of people possessing it, MZ???
If least people are possessing these coins (like many hodling), can't they try to manipulate the price higher just because they hold the biggest piece of the cake (in such a case where demand is much more as if it gets mainstream)

Read carefully.

Price may increase but it doesn't depend solely on number of people and it is same with transactions too.

Meaning of solely: "Not involving anyone or anything else; only."

What you said is "assumption" and we can't completely depend on it. Another problem is, even though people try to buy and sell Bitcoin to gain profit, people who buy try their best to lower the buy price and most sellers in exchanges, lower their price slightly. This doesn't mean prive only decrease but because of this we can't see a big rise in price very fastly.

 If demands are higher and Bitcoins are less, price will increase but there will be people everytime who will sell at buy price. Like I said, price can't depend "solely on" number of people.

[umair01]

Hi gusy  

What will happens when will create 21 million bitcoin ?

will start bitcoin price increase ?

When all the Bitcoins are mined, it should raise the price really high and my friend it will take so much time and i doubt anyone alive atm will be alive by then.

[ToQcHista]

i can't undertood.

What is dependent bitcoin increase ?

[Amph]

i can't undertood.

What is dependent bitcoin increase ?

limited supply, interest of people/adoption, luck with various news, there isn't a general rule, but supply and adoption are the most important(45% both i would say, 10% for the rest)

[ToQcHista]

i can't undertood.

What is dependent bitcoin increase ?

limited supply, interest of people/adoption, luck with various news, there isn't a general rule, but supply and adoption are the most important(45% both i would say, 10% for the rest)

much people that will have, will increase bitcoin price ?>

[mrhelpful]

Its a fixed supply, so anything beyond that will prob become more of a miner fee.

And it acts more of gold concept, rather then a fiat concept. Which most people still find it hard to believe but its been comparing to gold standard.