So the less bitcoin will be mind into existence in the year two thousand one hundred forty roughly um


Waiting to be mind into existence in bitcoin they're using prefer working at their and their currently using proof work later on their desperate over to prove mistake which we can talk about but essentially the miners are playing this validation guessing game and they are including my transaction amongst all the others who are currently sitting in that medical and in bitcoin they're taking enough than that'll fit into that one megabyte block size because the more than crime in that's more transaction fees they're getting to guess along with my transaction i'm sending a also including a very small amount as a feeds a pay for the minor hoop solves the successful block so whichever minor doing this is crazy bit guessing game finds a valid solution they will then send that solution to everyone in the world saying hey guys i found a valid block yeah we're adding this to the block chain it references the previous block and you should now start building on top of mine at one of that really need things about this is that when it brings that's people i often get why isn't someone else like aleksei just he pretended like he created up lock in it shouldn't be mine the roar don't may i actually include a special transaction in that block called a coin base where i basically tell the system to create new currency out of thin air and pay me so the miners get a reward for wherever finds this block so in bitcoin right now it's twelve point five bitcoin and every four years that gets haft so the less bitcoin will be mind into existence in the year two thousand one hundred forty roughly um and then like three years from now it'll dropped from twelve point five to six point two five and as of right now at the price of roughly four thousand dollars that's a pretty good chunk of change for finding that block so once the deminers validate that all the transactions that are in this block have appropriate signatures and they find a valid solution now it gets adds the block chain and it's pretty much was onto the next block so as an end user you don't really see any of this all you know is that you're saying sends.

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