How Bitcoin's Supply Schedule Works

7 min readarticleIncludes quiz · 3 questions

Every central bank in history has eventually succumbed to the temptation of printing too much money. Bitcoin removes the temptation entirely by replacing human judgment with a mathematical formula that no one can change.

Bitcoin releases new coins as rewards to miners when they add a new block. The reward starts high and halves at a fixed schedule. Over time, new supply gets smaller and smaller.

Simple definitions:\n\n• Block reward: New BTC given to the miner of a block.\n• Halving: The block reward is cut in half every 210,000 blocks (≈ 4 years).\n• Issuance (new supply): How many new coins are created over time.\n• 21 million cap: The total number of bitcoin that will ever exist.

Halving Steps (Staircase)
Halving Steps (Staircase)
Key Takeaway

Bitcoin's issuance schedule was set in 2009 and will run unchanged until approximately 2140. No meeting, no vote, and no emergency can alter it. This predictability is unprecedented in the history of money.

Test Your Knowledge

3 questions · Passing score: 75%

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