Why is there a maximum of only 21 million bitcoins? Don’t panic—here’s the class rep with a quick summary:
When Bitcoin first launched, the reward for each block was 50 bitcoins. It then gets halved every 210,000 blocks, roughly once every four years.
Miners earn income from two sources: block rewards and transaction fees. As the halvings continue, transaction fees will make up an increasingly large share of their income.
Understanding this won’t make me rich overnight, but it can help me avoid a few rookie mistakes.
$BTC 75025.09（-1.06%）
#BTC
When Bitcoin first launched, the reward for each block was 50 bitcoins. It then gets halved every 210,000 blocks, roughly once every four years.
Miners earn income from two sources: block rewards and transaction fees. As the halvings continue, transaction fees will make up an increasingly large share of their income.
Understanding this won’t make me rich overnight, but it can help me avoid a few rookie mistakes.
$BTC 75025.09（-1.06%）
#BTC