The last Bitcoin may be mined by miners by 2140

The last Bitcoin may be mined by miners by 2140, after which their only source of income will be transaction fees.

This was stated on the Nasdaq American stock exchange. The creator of Bitcoin, Satoshi Nakamoto, set a hard limit of 21 million bitcoins, which should not be exceeded until more than 19 million have been mined. Miners have two ways to earn money: new block rewards and transaction fees. With each new block that is added to the blockchain, they receive 6.25 bitcoins, but this “prize” decreases over time. 🪙

"The algorithm that runs Bitcoin is set up so that every ten minutes a new block is added to the Bitcoin blockchain, and the miner who verifies and adds that block receives a block reward. The current block reward is 6.25 Bitcoins per block, which means "that 900 new bitcoins are added every day. After 210,000 blocks, the reward is halved, which is called halving. The impact of halving is significant, since miners immediately lose half of their income from block rewards," the Nasdaq exchange clarified. 🔄💰

Some experts believe that as the network grows and the number of users increases, fee income will increase, thereby compensating for the lack of block rewards.