Someone asked: Why are there only 21 million bitcoins?
I usually answer like this: When Bitcoin first launched, the reward for each block was 50 bitcoins. Then, every 210,000 blocks, it was cut in half—roughly once every four years. Halving reduces the number of new bitcoins issued with each new block; it doesn’t reduce the number of bitcoins already in circulation.
$BTC 82707.09 (+0.89%)
If you learned something, comment “1.” If you still have questions, leave a comment and ask away.
#BTC
In this highly volatile market, manage your risk first.
I usually answer like this: When Bitcoin first launched, the reward for each block was 50 bitcoins. Then, every 210,000 blocks, it was cut in half—roughly once every four years. Halving reduces the number of new bitcoins issued with each new block; it doesn’t reduce the number of bitcoins already in circulation.
$BTC 82707.09 (+0.89%)
If you learned something, comment “1.” If you still have questions, leave a comment and ask away.
#BTC
In this highly volatile market, manage your risk first.