Block Reward

The amount of new bitcoin released with each mined block is called the block reward. The block reward is halved every 210,000 blocks, or roughly every four years. The block reward started at 50 bitcoin in 2009, and is now 25 bitcoin in 2014. This diminishing block reward will result in a total release of bitcoin that approaches 21 million. According to current Bitcoin protocol, 21 million is the cap and no more will be mined after that number has been attained.

As of today, block rewards provide the vast majority of the incentive for miners. At the time of writing, for the previous 24 hours, transaction fees represented 0.3% of mining revenue.


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Mining Hardware

Anyone with access to the internet and suitable hardware can participate in mining. In the earliest days of Bitcoin, mining was done with CPUs from normal desktop…

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Mining Pools

Mining rewards are paid to the miner who discovers a solution to the puzzle first, and the probability that a participant will be the one to discover the solution is equal…

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Block Reward

The amount of new bitcoin released with each mined block is called the block reward. The block reward is halved every 210,000 blocks, or roughly every four years.

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Electricity Costs

The main operational costs for miners are the hardware and the electricity cost, both for running the miners but also for providing adequate…

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Transaction Fees

As the block reward diminishes over time, eventually approaching zero, the miners will be less incentivized to mine bitcoin for the block reward…

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Mining Difficulty

How hard is it to mine Bitcoins? Well, that depends on how much effort is being put into mining across the network. Following the protocol laid…

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