Certified Bitcoin Professional Practice Exam

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Prepare for the Certified Bitcoin Professional Exam. Study with flashcards and multiple-choice questions, each question features hints and explanations. Ace your exam!

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How many bitcoins can ever be mined?

10 million
21 million
50 million
100 million

The correct answer is: 21 million

The total supply of bitcoins that can ever be mined is capped at 21 million. This limit is hardcoded into the Bitcoin protocol and was designed by its creator, Satoshi Nakamoto, to establish scarcity, similar to precious metals like gold. The process of mining involves solving complex mathematical problems, and over time, the reward for mining new blocks is halved approximately every four years in an event known as the halving. This halving schedule ensures that the issuance of new bitcoins will slow down and eventually reach the maximum limit of 21 million coins. This controlled supply model is fundamental to Bitcoin's value proposition, as it prevents inflation and promotes a deflationary environment in which demand could exceed supply as adoption increases. Understanding this limit is crucial for anyone studying Bitcoin, as it impacts market dynamics, investment potential, and the overall economics of cryptocurrency.