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30 votes
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How does the most recently found critical vulnerability (CVE-2018-17144) work?

If you were a miner, what are the steps you would take to create the extra (21,000,012.5th) bitcoin? Where in the source code is this exactly (link)? There are two components to CVE-2018-17144. There ...
Ava Chow's user avatar
  • 71k
18 votes

When, if ever, will "peak bitcoin" occur?

At the beginning of Bitcoin, every newly mined block (about every 10 minutes) creates 50 bitcoins. This is called the block subsidy. About every 4 years, this number cuts in half. Therefore, the peak ...
Stack Exchange Supports Israel's user avatar
18 votes

When, if ever, will "peak bitcoin" occur?

According to comments by the project's founder, Bitcoin's issuance rate was indeed inspired by that of precious metals. However, it is implemented algorithmically, of course, which artificially limits ...
Murch's user avatar
  • 76k
14 votes
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Where is the bitcoin source code is the 21 million hard cap stated?

Where is the bitcoin source code is the 21 million hard cap stated? Nowhere, because there isn't actually a 21 million cap rule. The relevant code is this: CAmount GetBlockSubsidy(int nHeight, const ...
Pieter Wuille's user avatar
12 votes

Bitcoin halving conflict? Is this a rumor

It is exactly at block 420000. When block 420000 will be mined is not certain, as the block mining process is random and influenced by hashrate variation.
Pieter Wuille's user avatar
9 votes

Who added the 21 million limit to Bitcoin?

This is the announcement of Bitcoin: http://www.metzdowd.com/pipermail/cryptography/2009-January/014994.html Total circulation will be 21,000,000 coins. It'll be distributed to network nodes ...
Nick ODell's user avatar
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9 votes
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Will a post-subsidy block with no transactions include a coinbase transaction?

Every Bitcoin block is required to have a coinbase transaction, regardless of fees or subsidy. Additionally, every transaction (including the coinbase), must have at least one output (possibly 0-...
Pieter Wuille's user avatar
8 votes
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How many Bitcoin are mined per day?

Colin's calculation has a mistake in that it doesn't account for partial Bitcoins not being paid out in block rewards. It rounds down the reward per day, but should round each block reward down to the ...
Murch's user avatar
  • 76k
7 votes

What date does the 2016 halving happen at?

The first block with the halved block subsidy is 420,000. However, blocks are discovered in a random process – whereas the protocol aims to have blocks found approximately every ten minutes, in effect ...
Murch's user avatar
  • 76k
7 votes
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Why does Bitcoin block 526,591 have a 6.25 (instead of 12.5) block reward?

There is a maximum limit on the block reward which is 12.5 BTC but nothing prevents a miner from claiming less than 12.5 BTC. In fact, there have been times when miners forgot to claim any bitcoin at ...
Pedro's user avatar
  • 753
7 votes

How do you calculate when 98% of Bitcoin will be mined?

I have created this Google sheet to calculate various metrics of the reward schedule. The numerical maximum of bitcoins that could be created is 20,999,949.9769 BTC. 0.98 × max = 20,579,950.977362 So,...
Murch's user avatar
  • 76k
7 votes
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How/When is mining reward given in the presence of forking / orphan chain?

You have to distinguish between nodes' local view of the chain, and your global view when discussing here. Every chain (meaning: a block together with all its direct and indirect ancestors) is a ...
Pieter Wuille's user avatar
6 votes
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When no Bitcoins are left to be mined, how will the Blockchain continue to be validated?

Mining rewards are not the only source of income for miners. There are also transaction fees. When there are no more bitcoins to be mined (happens around 2140) then miners would be mining for ...
Jimmy Song's user avatar
  • 7,759
6 votes
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What would happen if miners refused halving

What if after this phase the first miner or more than 51% of them decide to keep the current production rate ? Do their block will be refused like if they had produced a wrong block ? Exactly. This ...
chytrik's user avatar
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6 votes
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when is the mining of the last bitcoin?

There will be 32 halvings, but the block subsidy will be reduced 33 times with the last reduction not halving it, but reducing it from 1 sat per block to 0 sats per block (see table with calculation). ...
Murch's user avatar
  • 76k
5 votes
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What are the possible Doomsday scenarios for the 2016 Halving from 25 to 12.5 BTC per block solved?

I think you might be referring to the hypothesis that a large portion of the mining power would switch off right at the halving. This is theorized to kick off a chain reaction: Lower network hash ...
Murch's user avatar
  • 76k
5 votes

How is the bitcoin 21 million cap implemented?

An updated answer. First, check out the block subsidy calculation: https://github.com/bitcoin/bitcoin/blob/v23.0/src/validation.cpp#L1417 CAmount GetBlockSubsidy(int nHeight, const Consensus::Params&...
Erik Aronesty's user avatar
5 votes

Is it technically possible to change the total amount of Bitcoin?

Technically, yes, yes, and yes. However, I'm not sure if we'd still call it "Bitcoin" at that point. Any of these changes would require a hard fork, which means that the underlying rules of the ...
Jestin's user avatar
  • 8,812
5 votes
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Understanding the bitwise left shift logic on determining nSubsidy

This isn't really a Bitcoin question, just a math one, but I'll give it a shot anyways. Let's look at the binary values for a few numbers from base 10 0 | 0 1 | 1 2 | 10 3 | 11 4 | ...
Raghav Sood's user avatar
  • 17.1k
5 votes

Who decides the block reward in Bitcoin?

When the creator of Bitcoin published the original Bitcoin client, it came with rules for an inflation schedule. As a means of bootstrapping the system and distributing the initial supply, miners were ...
Murch's user avatar
  • 76k
5 votes
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Does adding more miners create more bitcoin?

I was on another forum and the claim was made that the miners using new technology GPUs GPU mining has been obsolete for Bitcoin mining since around 2014. All mining these days is done using custom ...
Pieter Wuille's user avatar
5 votes
Accepted

Does Bitcoin mining reward halving have documentation? Or is it just in the code?

This is not addressed in Bitcoin's Whitepaper, although Satoshi Nakamoto briefly mentions the decrease of the reward, but never explicitly talks about the amount of the reward. Satoshi speak about ...
leevancleef's user avatar
5 votes

Spending block reward after subsidy end

Yes. We still need to allow time for small-scale block reorganisations. Miners of stale blocks should not collect and spend fees that are needed by ultimately successful miners of the same ...
RedGrittyBrick's user avatar
5 votes
Accepted

Will the majority of miners quit mining next year if the price of bitcoin remains as it is today? Can it harm the network?

An important point is that costs are not constant. If miners leave the network as a result of block-reward halving, the network difficulty will automatically reduce and therefore mining costs will ...
RedGrittyBrick's user avatar
4 votes

What date does the 2016 halving happen at?

There is no precise time and date but July 10th or 11th is expected. The halving occurs every 210,000 blocks. The first time (block 210,000) the reward fell from 50 to 25 BTC. On block 420,000 it will ...
Logan's user avatar
  • 373
4 votes

Why was the upper limit of 21 million bitcoins put in place?

I find this surmise by Cryddit on BitcoinTalk interesting: Satoshi cared that people using Javascript (?) or other languages which encode all numbers as 'double' (64-bit floats) would not have ...
Murch's user avatar
  • 76k
4 votes

Is there a limit to the number of Bitcoin addresses?

Is there a limit to the number of Bitcoin addresses? If I understand it correctly, there can never be more than 1461501637330902918203684832716283019655932542976 of the current type of addresses. ...
RedGrittyBrick's user avatar
4 votes
Accepted

What prevents miners from mining more bitcoin after 21million btc?

The Bitcoin protocol allows block authors to create a limited amount of new bitcoins in the outputs of the coinbase-transaction (which also collects the transactions fees) in each block. The amount of ...
Murch's user avatar
  • 76k
4 votes

When will the last block halving happen and when will the block reward fall to 0?

I created a Google doc to calculate some metrics of the Bitcoin reward schedule including e.g. the number of halvings, their first blocks, and how much supply is left to be mined. As you can see, ...
Murch's user avatar
  • 76k
3 votes

There's talk of increasing the blocksize - if this can be achieved - does this mean that the 21m btc limit can also be changed?

Flat-out increasing the blocksize is a hardfork. Hardforks require the overwhelming support of all parts of the Bitcoin sphere to be adopted, otherwise they will create a forkcoin. 51% would be ...
Murch's user avatar
  • 76k

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