OK, so if Bitcoin is mined, how much of it can be mined? Well, the Bitcoin protocol stipulates there will me a maximum of 21 Million Bitcoins in circulation. That’s it. Once the 21 million Bitcoin level has been reached… no more Bitcoins will be created.
It has been projected that this maximum level of Bitcoins will not be reached until 2140. So, it will not happen in my lifetime. After the max level has been reached, the record keeping that keeps the Blockchain validated and up to date through mining will be rewarded through transaction fees alone (and not by the creation of any new Bitcoin).
So, there is plenty of Bitcoin that has not come into existence yet. But the total number of Bitcoin is limited and finite.
In the next lecture let’s talk a little about being able to divide Bitcoin…