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Bitcoin Mining & Cryptocurrency Industry Overview
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[QUOTE="GXBlocks, post: 184416, member: 5543"] Thank you for your reply! As we mentioned, there are only 21 million bitcoins that can be mined in total. Once miners have unlocked this number of bitcoins, the supply will be exhausted. The Bitcoin blockchain was designed around the principle of controlled supply, which means only a fixed number of newly minted Bitcoin can be mined each year until a total of 21 million coins have been minted. Once all 21 million Bitcoin have been mined, miners will still be able to participate in the block discovery process, won’t be incentivized in the form of a Bitcoin block reward, but will receive rewards through the Proof of Stake. Also, as well as block rewards, Bitcoin miners also receive all the fees spent on the transactions included in each newly discovered block (this process continues to adapt over time). The halving process lowers the inflation rate for this virtual currency by half every four years until miners generate the final Bitcoin. [/QUOTE]
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