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Week 7 · Enter Bitcoin

Bitcoin's supply clock

There will only ever be 21 million bitcoin, released on a schedule fixed in 2009 that nobody can speed up. Here's where that schedule stands right now.

Checking the Bitcoin network…

still to be made, over roughly the next 115 years
new supply this year, as a share of what exists. Gold's is about 1.5 to 2%.

Every bitcoin that will ever exist, by year

Each bend in the line is a halving: about every four years (every 210,000 blocks) the number of new bitcoin per block is cut in half. The last fraction is made around 2140.

Using it in class

The outline marks “how much of the supply is mined” as a number to check before class. This page is that check: open it the day of week seven and read the first line aloud.

Then set it beside the dollar page. One money's supply is decided by people in a meeting, and the other's was written down once, in public, for everyone. Deuteronomy 25:15: “a perfect and just weight shalt thou have.”

Where the numbers come from

The page asks mempool.space, a public Bitcoin explorer, for the latest block number, then works out the supply from Bitcoin's fixed schedule. If the explorer can't be reached, the page estimates the block number from the clock and says so. The halving date is an estimate: blocks average about ten minutes but vary. This explains how bitcoin's supply works; it is not financial advice.

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