Scarcity and halving

Card 68

Scarcity and halving
Card 68
Topic 6 · Scarcity and halving · Navigator

How many new bitcoin could miners receive per block at the beginning?

Card answer

Correct answer

Answer B: 50 BTC

Detailed explanation

At the launch of the Bitcoin network, permitted new issuance was 50 BTC per block. This amount is the block subsidy: the bitcoin that may be newly created under the rules in a valid block.

Transaction fees are separate. They come from existing bitcoin and do not increase the money supply. A reference to a miner's total payout may therefore include both new issuance and fees.

The 50 BTC was the starting value, not a permanent payout. After the scheduled halving interval, permitted new issuance falls. A miner cannot choose to return to the earlier higher amount: rule-following nodes check the allowed amount for each block height.

Sources used

Primary source · EN · Technical source

Bitcoin Core - GetBlockSubsidy

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This source is mainly intended for developers. The relevant information may therefore be harder to find.

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Supplementary source · EN · Technical source

Bitcoin Developer Guide - Block Chain

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This source is mainly intended for developers. The relevant information may therefore be harder to find.

Check original source