Bitcoin Supply

This month the Bitcoin circulating supply hit 20 Million. That's 20 million of a total supply of 21 million.

As Bitcoin continues to catch on the number of new coins being generated will be steadily declining....forever. The coin generation can be defined with a Sigma notation.

Mathematically it's, the sum of a series of 33 numbers. Each number in the series is half as much as the number before it.

Consider the first number in the series of 10.5 Million is 50% of the total sum, the next 25%, then 12.5% decreasing by a half with every repetition. By the final repetition it's into the double decimals.

This is an expression of Bitcoin, it is created via the block reward. All Bitcoin came into existence through the block reward. The computer that adds the next block to the 'block chain' receives a reward, in the form of Bitcoin issued by the network. The original block reward was 50 Bitcoin for the first 210,000 blocks = 10.5 million. The block reward decreases by a half every 210,000 blocks. This is the halving.

Every 4 years the halving arrives to mark the end of an epoch and mining rewards are cut in half. Bitcoin production peaked in its first 4 years of existence. As Bitcoin continue to integrate itself into the financial system, continues to find use cases, new investors, regulatory clarity, increased adoption, as all this occurs, the amount being mined is forever decreasing.