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Fibrated 🎩
@fibrated
Think Bitcoin's supply cap is just speculation and Satashi is gonna delete your .0001 $BTC like JPMorgan? Anyone can prove that 21 million is a fact with some basic coding and math knowledge. It's all publicly available on GitHub. Let's break down the numbers🧵👇
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Fibrated 🎩
@fibrated
1/🔍 The Code: The code for calculating Bitcoin block rewards is here: Bitcoin GitHub - validation.cpp. It uses a function named "GetBlockSubsidy".
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Fibrated 🎩
@fibrated
2/💡 GetBlockSubsidy Function Explained: This function calculates the reward for mining a Bitcoin block. Initially, miners got 50 Bitcoins per block. This reward halves every 210,000 blocks, which takes about four years. This process is called 'halving'.
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Fibrated 🎩
@fibrated
3/🧮 Halving Calculation: The number of halvings is calculated by dividing the current block number by 210,000. For example, at block number 704,673, there have been 3 halvings (704673 / 210000 = 3).
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Fibrated 🎩
@fibrated
4/⛏️ Current Reward: After each halving, the reward halves. So, after 3 halvings, the reward is 6.25 Bitcoins per block (50 Bitcoins halved 3 times).
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Fibrated 🎩
@fibrated
5/🚀 Total BTC: There's a finite limit to Bitcoin creation! The sum of halving rewards series equals 100. Multiplying this with 210,000 blocks for each halving phase, we reach a max cap of 21m BTC. This is a hard cap, unless a majority of the BTC network consents to a change.
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