Generate Bitcoins

When a bitcoin miner finds a block, it receives newly minted bitcoins and the transaction fees which may or may not be included in the block. The amount of bitcoins awarded for verifying a block is 50 BTC for the first 210,000 blocks and half the previous amount of bitcoins for each subsequent 210,000 blocks. On the average, 210,000 blocks take about 4 years to verify. The total amount of bitcoins that will ever be mined in 21,000,000 BTC.

Reference:

Malone, J.A (2015). Glossary of Bitcoin Terms and Definitions. United States: Lulu Press, Inc

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