#asknostr Related to #bitcoin
There are two things I heared of: "Halving" and "fixed supply".
What exactly is the halving? Does that mean that if you own, lets say 0.0001 BTC, you would own 0.00001 (one more 0) BTC after the halving?
And, how exactly is BTC "fixed supply"?
You can also just link me something, I am just curious. :)
For every block a miner adds to the blockchain, he or she is rewarded with a certain amount of newly-created Bitcoin. Yet there is also a finite number of Bitcoins that can ever be created. In order to extend the life of Bitcoin and ensure that it remains a deflationary asset, Satoshi Nakamoto wrote into Bitcoin’s code that the supply of new BTC awarded to miners is halved every 210,000 blocks, or roughly every 4 years. For this reason, Bitcoin halvings serve as major milestones in Bitcoin’s timeline, dividing it into distinct periods.
The amount of bitcoin anyone can mine is fixed to a certain amount. This amount gets halved every 4 years (this is known as the halving).
2008-2012 50 BTC/~10 minutes
2012-2016 25 BTC/~10 minutes
2016-2020 12.5 BTC/~10 minutes
2020-2024 6.25 BTC/~10 minutes
2024-2028 3.125 BTC/~10 minutes
This continues unt the year 2140.
The Proof of Work mining rewards gets halved.
Currently 6.25 BTC halving to 3.125.
Fixed supply means there will never be more than the 21M Bitcoin in existence.
Hope this helps 👍
