With supply now past 19 million, Bitcoin hit a milestone today that gets the world ever closer to the moment when the final new bitcoin will enter the world.
Bitcoin hit a milestone today that gets the world ever closer to the moment when the final new bitcoin will enter the world — the supply of coinsBitcoin was created to be money with a fixed supply that no one can change. It launched amidstFuture avid bitcoinersso that it has both a predictable emission schedule and a hard cap of 21 million bitcoin.A message can be added to each chunk of transactions validated by the bitcoin network.
This is understood both as proof that the block came out no earlier than the day that headline was published and also as a comment on the global financial system. Every 10 minutes or so all participants in the bitcoin network compare notes on which transactions took place in that time and lock them into bitcoin's official ledger. Only one participant gets to certify that block. For doing so, they earn some fresh new bitcoin, called the block reward.
Currently, the block reward is 6.25 bitcoins for each block, which is worth more than a quarter-million dollars at current prices.It's debatable whether or not the real supply is actually 19 million. Lots of bitcoin have been lost for various reasons —Bitcoin's price today is $45,582. The news is unlikely to have particular impact on the price.
, provided the network sticks to the plan. That's because every four years the emission schedule drops in half.
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