Bitcoin Miner Rewards Evolution

By Cryptowido | Cryptowido | 13 Jun 2021


The last Bitcoin would be mined in 2140 or more precisely the last fraction of Bitcoin because between 2136 and 2140 it will take 0.0024447217583656 BTC to reach the maximum supply of 21 Millions.
In addition, the reward for Bitcoin miners between 2136 and 2140 will be 1.164153218269333 Satoshis.

As a reminder, there are 210,000 mined blocks between each Halving :
210000 x 1.164153218269333 = 244472.17583656 Satoshis (0.00244472 BTC)

In 2096, only 5.006790161132813 BTC will be added to the circulating supply.
And the reward given to miners per block mined between 2092 and 2096 will be 0.00002384185791015625 Satoshis (0.00002384 Sats).

Between 2016 and 2020, the reward given to miners was 12.5 BTC per block mined.
210,000 x 12.5 = 2625000 BTC were mined during this time.

On May 11, 2020 (Halving), the circulating supply was 18375000 BTC.
And the reward was further divided by 2, going to 6.25 BTC per mined block (current reward).
210000 x 6.25 = 1312500. In 2024, the circulating supply of Bitcoin will be 19687500 BTC.

In 2032 (Halving), the circulating supply will be 20671875 BTC and the reward granted to miners per mined block will be : 0.78125 BTC.

(Source : cryptowido/bitcoin)

Halving is a fundamental component that can be predicted over time with determined conditions.
Considering the current price of Bitcoin, we see that the adoption has been rapid between 2009 and today.
We can also consider that the scarcity is for the moment more speculative than effective. Indeed the rewards of mining are still high.
But in 2 or 3 halving cycles or less (it will all depend on the future popularity of Bitcoin), the scarcity effect will become much more effective, much more real. Because we will be close to the maixumum supply and the number of new Bitcoins mined will drop dramatically.

As long as there is no doomsday event or consensus that would ban Bitcoin globally with ultra-repressive and aggressive laws. I think we can be optimistic about our Bitcoin investments in a long term plan.
Blockchain technology is evolving (example : PoS, Sharding, etc.) and Bitcoin will continue to evolve.

This is not investment advice. And the possibility that I'm wrong is also to be taken into account.
The crypto market is young, volatility is high, do your own research and measure the risks before making a decision.

Thanks for reading my post and happy earnings :)

Publish0x Links : Newcomers - Ex Nihilo - Bitcoin Story - Crypto Potential - Economic Transition - Blockchains are Dangerous - Psyche 16 - Markets and Speculations 


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