How Bitcoin works: the blockchain explained
The Bitcoin halving: why there will never be more than 21 million bitcoins
No bank and no government can print more bitcoin. New ones come out on a fixed timetable, and about every four years that timetable cuts them in half.
-
1
In May 2010, a programmer in Florida paid 10,000 bitcoin for two pizzas. Back then, miners won 50 new bitcoins for every block, so his pizzas cost the reward of 200 blocks.
-
2
New bitcoins come from one place only: the reward for each new block. No bank and no government can make more. Every node checks the reward too, so a miner cannot pay himself extra.
The rest of this episode is for subscribers
Subscribe to read every premium episode. You can cancel when you want.
Paid yearly: $99 instead of $119.88