We all Know about Bitcoins. Bitcoin is a crypto currency. That is mined like gold and other precious metals. Instead of Doing Physical work as mining like gold and other precious metals Bitcoin is mined on Computer. Computer solves complex problems that mine Bitcoin. People who mine bitcoins are called miners.

There is a certain amount of bitcoins that can be mined. Yes! Only 21 Million Bitcoins can be mined. It is very curious question that why 21 million Bitcoin can be mined?

WHY?

Bitcoin is Every time when the user finds a New Block. The Number of Bitcoin generated is set geometrically. The Generation of Bitcoin Reduces to 50% after 210000 new blocks are found. For Example, If the 1st 210000 blocks generated 50 BTC then the next 210000 will generate 25 BTC. Theoretically talking if this continues to decrease at the same rate than the maximum number of bit coins can be mined is 21 Million. This is because the algorithm is used in Bitcoin is Decreasing-supply Algorithm. It is used to give Bitcoin value. Like other commodities for example gold. if the gold mined at once its value will increase in the same way Bitcoin will work same.

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If We continue to mine Bitcoins at the current mining speed all the Bitcoins would have been mined till almost 2140th. It is Just an estimated value. As We, All Know that technology is developing. We are producing good and fast processors the processing speed will increase all the Bitcoin would have been mined before 2140th.

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