Do you know bitcoins are capped or that it has a limited supply? Have you ever thought of what will happen after the last bitcoin is mined? Will it disappear from the planet or what? How to know when will the last coin be mined?

If you are considering investing in the bitcoins market or are already an investor, this blog is appropriate for you. Fasten the seatbelts to your screens, and grab your reading glasses (if any), as this roller coaster ride is taking you to demystify the future concerns regarding bitcoins.

However, for all newbies among the readers, I recommend going through my blog, cryptocurrencies, first to get some basic knowledge.

Bitcoin – facts and figures

In today’s digital age, digital money Bitcoin is not a new concept for anybody and does not need an introduction. Bitcoin is the primary cryptocurrency that laid the foundation for all the other cryptocurrency variants circulating globally, known as altcoins. It is a new sort of money backed by a futuristic payment network without involving any central control or bank.

How many bitcoins exist out there?

The precise number of existing bitcoins cannot be stated as it keeps varying with the mining of each new block. Each new block is mined after every 10 minutes, which generates 6.25 new bitcoins that are then added into circulation. According to a precise estimate as of July 2022, 19.09 million bitcoins are known to exist all around the globe.

HOW MANY bitCOINS CAN BE MINED ever?

Satoshi Nakamoto invented bitcoins with a specific characteristic of limited mining, having an upper limit of precisely 21 million coins. Although 91% of the total supply is already in circulation, fewer than 2 million bitcoins are yet to be mined. Corresponding to this mortal world, the bitcoin supply is also limited to be capped immediately as it reaches 21 million.

When will the last bitcoin be mined?

It is evident from the bitcoin halving process that the year 2140 will witness the mining of the last bitcoin. Bitcoin halving is the practice of reducing the rewards a miner earns, by half, for mining every 210,000 new blocks. Hence it makes sure that the supply of bitcoins in rotation stays relatively high and keeps its price smoothly skyrocketing. Typically, the mining rewards get halved after every four years, and 2024 is the year that marks the upcoming halving.

What will Happen After bitcoin capping is reached?

Well, that’s a thought-provoking question! As you know, bitcoins are capped at 21 million coins indicating their supply can never be extended beyond this figure. Once bitcoin production hits this limit, the generation of new coins would be terminated, making them scarcer and more expensive.

Would mining also stop after it reaches the capping limit?

According to an exact estimate, the last bitcoin halving will ensue in 2040, which will permanently change the mining reward. Presently, the reward a bitcoin miner earns exists in the shape of new bitcoins generated due to the mining process. The last bitcoin halving would convert all the future rewards as incentives for miners to pursue processing the blockchain transactions.

Will bitcoins disappear after the last coin is mined?

To conclude it reasonably, let’s address the ultimate query that kept everyone fascinated and anxiously awaited while reading this blog. A single-word answer is NO; it won’t just disappear from the earth, although the new bitcoin generation will be stopped. The coins already in circulation would carry on the blockchain transactions though they’ll be more treasured as they become limited.