450 Bitcoin

450 — that’s the total number of new bitcoin that will be produced daily by miners following the fourth bitcoin halving.

900 Bitcoin

900 — that’s the total number of new bitcoin currently produced daily by miners. As you can see, once a bitcoin halving occurs, that number is cut in half.

Supply Shock

Bitcoin halvings are built into the protocol to occur roughly every four years. They reduce the number of bitcoin earned by miners in what’s called “the block reward” while reinforcing bitcoin’s supply and demand incentive cycle.

Each time a halving hits, there’s a supply shock that lingers as newer bitcoiners come to better understand its impact.

History of block rewards:

The block reward that individual bitcoin miners received for processing and adding transactions to the blockchain started at 50 bitcoin per block.

Then, halvings came into play:

1st Halving: 25 bitcoin

2nd Halving: 12.5 bitcoin

3rd Halving: 6.25 bitcoin

Upcoming Halving: 3.125 bitcoin

Transaction blocks are processed roughly every 10 minutes on the bitcoin network. So, 6.25 bitcoin rewarded every 10 minutes means 900 new bitcoin are currently rewarded every single day.

21 Million Bitcoin

21 million — that’s the total fixed supply limit of bitcoin that will ever exist.

Bitcoin isn’t just scarce, it’s finite.

That said, bitcoins can be broken down into denominations as small as one hundred millionth of a bitcoin. This is called a satoshi.

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