Satoshi Nakamoto, the creator of Bitcoin, has set a fixed limit of 21 million Bitcoins that will never be exceeded. More than 19 million bitcoins have been mined to date, leaving only a few million left for future miners.
Bitcoin miners earn in two ways: new block rewards and transaction fees.
For each new block added to the Bitcoin blockchain, miners are rewarded with 6.25 bitcoins. This reward decreases approximately every four years in an event known as “halving”.
According to the current schedule, the last bitcoin will be mined by 2140. After this point, the only source of income for miners will be transaction fees.
Bitcoin enthusiasts believe that as the network grows and the number of users increases, fee revenues will increase, making up for the lack of block rewards.
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