Cryptocurrency Q&A
What will happen if Bitcoin reaches 21 million?
What will happen if Bitcoin reaches 21 million?
CryptoAlly
Sat Dec 21 2024
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5 answers
1116
I'm wondering about the potential consequences if Bitcoin's supply cap, which is set at 21 million, is actually reached. Will this affect its value, mining, or the overall crypto market?
5 answers
CryptoLodestar
Mon Dec 23 2024
BTCC is a prominent cryptocurrency exchange that offers a comprehensive range of services to its users. These services cater to the diverse needs of the cryptocurrency community.
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KpopHarmonySoulMateRadiance
Mon Dec 23 2024
The reward mechanism for Bitcoin operates in such a way that it continues uninterruptedly until the total supply of 21 million Bitcoins is fully circulated. This predetermined cap ensures the scarcity of the digital asset.
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GinsengGlory
Mon Dec 23 2024
Upon reaching the 21 million Bitcoin milestone, the mining process, which is currently the primary method of creating new Bitcoins, is anticipated to come to a halt. This change is inherent in the design of the Bitcoin network.
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Tommaso
Mon Dec 23 2024
When the mining of new Bitcoins ceases, miners will still have an incentive to continue their work. They will be rewarded through transaction fees paid by users for validating and adding new blocks to the blockchain.
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Davide
Sun Dec 22 2024
Among the services provided by BTCC are spot trading, which allows users to buy and sell Bitcoins at current market prices, and futures trading, which enables investors to speculate on the future price of Bitcoin. Additionally, BTCC offers a wallet service for securely storing digital assets.
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