_ Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top up vote down vote favorite 13 Since bitcoins are being regularly rewarded to miners, will the number of bitcoins continue to grow indefinitely, or will there be a maximum total number of bitcoins in existence?And if there is some kind of limit, what is it and how is it enforced?reward-schedule up vote down vote Every block introduces 50 new coins in the system.This quantity (50) halves every 210,000 blocks.So, getting the limit of coins it is possible to generate is quite easy : it's the sum of a geometric series.Also, note that this is an upper bound ; the actual quantity will probably be a bit lower due to rounding issues (BTC has a finite number of decimals, 8).up vote down vote A pre-defined schedule limits the total number of bitcoins so that they gradually approach a total of 21 million (ignoring those that have been lost through deleted or misplaced wallet files).

The limit of 21 million bitcoins is "hard-wired" in to the protocol, and there will never be more bitcoins than this: up vote down vote As Artefact2 mentioned, Bitcoin uses fixed-point math to calculate the block subsidies.So, ignoring the unspendable genesis block, the sundry lost coins and unclaimed rewards, the maximum number of bitcoins is 20999999.9769 BTC.I found that number through the following python program: COIN = 100 * 1000 * 1000 nSubsidy = 50 * COIN nHeight = 0 total = 0 while nSubsidy != 0: nSubsidy = 50 * COIN nSubsidy >>= nHeight / 210000 nHeight += 1 total += nSubsidy print total / float(COIN) It's intended to mirror this code from the Bitcoin client: int64 static GetBlockValue(int nHeight, int64 nFees) { int64 nSubsidy = 50 * COIN; // Subsidy is cut in half every 210000 blocks, which will occur approximately every 4 years nSubsidy >>= (nHeight / 210000); return nSubsidy + nFees; } Of course, it only differs from 21 million BTC by only 3 bitcents, so the difference isn't significant.

up vote 4 down vote As per the current rules there will only ever be 21 million coins at most (explained in other answers here).However, I'd like to add that this is by general agreement, which means that it can be changed.See this question: Could there be hyperinflation in Bitcoin?Looking at the history of money, I am skeptical that there will only ever be 21 million coins.bitcoin blockchain viewerI don't know of too many instances in history when money could be created out of thin air and wasn't.bitcoin kuala lumpurIt would be foolish to ignore history.silk road bitcoin crimeWhether or not there will be more than 21 million coins depends on whether or not "the people" demand it, and once again history is our guide.bitcoin hash per dollar

up vote 3 down vote According to a BIP (Bitcoin Improvement Proposal) I found, this code: nSubsidy >>= (nHeight / 210000); will actually wrap the reward generation back to 50 at some point in 2200 or so.Making the supply of bit coins infinite.The python code above does not have this property.The C++ code does./bitcoin/bips/blob/master/bip-0042.mediawiki up vote 1 down vote Re.world bitcoin conference malaysia'how is it enforced?': The 21 million limit is enforced by game theory.bitcoin hash explainedTheoretically, 50% of miners could adopt code that would increase the rate of production but this would break the social contract that Satoshi created, irrevocably harm the integrity of bitcoin, and crash the price.Therefore, anyone or any group that could change the limit is incentivized to not do so.

Your Answer Sign up or log in Sign up using Google Sign up using Email and Password Post as a guest Name Email discard By posting your answer, you agree to the privacy policy and terms of service.Browse other questions tagged reward-schedule or ask your own question.Have you acquired Bitcoin or any other crypto-currencies (such as Litecoin, Devcoin, Dogecoin, Feathercoin)?Loading statistic... Share of respondentsMale4%Female1%18-244%25-346%35-443%45-541%65+1% Show further information Complete Source Details About This Statistic This statistic displays the penetration of having acquired Bitcoins or any other digital currency among British respondents as of February 2014.Of female respondents, one percent reported having acquired Bitcoin or other crypto-currencies.Special Functions Download startedWhat is Bitcoin?Bitcoin is the world’s first digital decentralized currency and payment network.It helps us connect financially just like the Internet has helped us connect socially.

It is the modern way to send money.Bitcoin enables borderless, permissionless, fast and cheap access to the world of finance.Bitcoin stands out as perfect money.It is scarce, divisible, durable and portable.Bitcoin is the Internet of money.Learn MoreBitcoin South AfricaWelcome to the Bitcoin ZAR website, a place for people living in South Africa who are interested in Bitcoin.Before you start, please Join our bitcoin community for South Africa on Facebook and twitter, to keep up to date with our daily bitcoin news and information.We are glad you have decided to become part of the Bitcoin revolution in South Africa and around the world.Start accepting and making payments in Bitcoin almost immediately, and introduce customers, friends and family to Bitcoin so that you have a network of people you can transact with locally and internationally.Does your business accept bitcoin as a payment method for products or services?bitcoin allows for the first time ever, any human being anywhere on the planet, to be able to send and receive any amount of money, with anyone else on the planet, without having to ask for permission from any bank, corporation, or government.

This can be done almost instantly, for virtually no cost, regardless of the amount of money.So what exactly is bitcoin?Bitcoin is an online payment system invented by anonymous user ‘Satoshi Nakamoto’, who published his invention in 2008, and released as open-source software in 2009.The bitcoin system is peer-to-peer, and users can transact directly with each other all over the world almost instantly, without needing an intermediary such as a bank, Western Union, Moneygram, Paypal or any other company.The bitcoin system works without a central repository or single administrator, so is the worlds first decentralized digital currency, and it is the largest of its kind in terms of total market value.There is no company or entity controlling bitcoin.Bitcoin as a form of payment for products and services has grown, and merchants have an incentive to accept it because fees are lower than those typically imposed by credit card processors.Unlike credit cards, any fees are paid by the purchaser, not the vendor.

Learn more about what bitcoin is, here Buy bitcoin in South AfricaBuy bitcoins on one of our local South African bitcoin exchanges.Transfer funds from major South African bank accounts to the exchange, and once the funds have cleared, you can trade the ZAR for bitcoin.You can also buy bitcoins in South Africa by doing face to face trades with sellers who prefer to meet in person.Buy bitcoin in South Africa Choose a bitcoin walletBitcoin wallets come in various forms, there are a desktop wallet that you download to your PC, a mobile wallet app that you download to your phone, a web based wallet that you can access through the web, a physical hardware wallet, or a secure paper wallet.Get a bitcoin wallet Educational bitcoin videosWe have selected a variety of informative and interesting bitcoin videos to help you learn about bitcoin, how it works, the technology behind bitcoin, and how it can be useful.There are many bitcoin videos on the web, but we consider these to be the best out there so far.

Keep checking back for updates.The best bitcoin videosWhy Bitcoin is better than Bank transfers, Paypal and credit card transactionsBitcoin transactions between wallets are not linked to your bank accountAnyone can use bitcoin, there is no need for account verification, identity checks or proof of residenceNo central authority telling you what you can and cannot do with your moneyYour account can never be seized or closed, you are the only one with controlPrivacy is enhanced with Bitcoin and it reduces identity theft.Bitcoin transfers are available within minutes, not like typical banking where it can take daysAvailable in any country, there are no international boundaries: send and receive anywhere in the world for no additional feesUnlimited Access: have full control of your money, 24 hours/day, 7 days/week, from anywhere in the worldNo high banking and transaction fees, monthly and annual fees, overdraft or over limit feesNo minimum or maximum amount for transactionsPurchases can be virtually anonymous, your name is not tied to your transactionTransactions cannot be reversed, so retailers no longer need to worry about credit card chargebacks The price of bitcoin has been rising steadily over the years, and as it becomes more mainstream, more and more people are eager to invest in the technology.