It will reach zero, eventually, due to 33 pre-programmed halvings. When the block subsidy reaches zero, it signifies bitcoin’s total supply has reached its limit.
#BITCOIN CORE CODE CODE#
This section of code defines the amount of the block subsidy and determines the schedule for its reduction over time by way of the halvings. Here’s the function in bitcoin’s code that determines block subsidy, called GetBlockSubsidy(): This part of the code is vital to verifying bitcoin’s fixed supply because all new bitcoin originates from block subsidies (which are included, along with transaction fees, as part of block rewards) paid to miners. To understand what the code says about bitcoin’s total coin cap, the first place to look is the function for block subsidies. If this is a bit too technical and you’d prefer a higher-level overview of 21 million and its significance, we have that too.
Here, we’ll break down the code to verify with certainty that bitcoin’s cap is 21 million. The bitcoin code uses a mix of consensus rules and simple math agreed upon by everyone who runs a bitcoin node to implicitly establish the limit. – Jamie Dimon, CEO, JP Morgan Chase, Oct 11, 2021 I’ll just challenge the group to one other thing: how do you know it ends at 21 million? You all read the algorithms? You guys all believe that? I don’t know, I’ve always been a skeptic of stuff like that. That may be true, but this part of bitcoin-how exactly the supply cap is defined in its code-is relatively easy to prove. Many of bitcoin’s staunchest critics have expressed doubt about its 21 million cap, but perhaps the most mindless criticism relates to the fact that the supply limit is not specified in its code in plain language.
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