Bitcoin & Cryptocurrency Terminology
The most comprehensive guide to understanding Bitcoin and cryptocurrency terms. Every definition written in simple, clear language anyone can understand.
Bitcoin-specific Terminology
Core Bitcoin Concepts
8 termsBitcoin Wallets and Security
8 termsBitcoin Transactions
5 termsBitcoin Mining and Network
6 termsAdvanced Bitcoin Features
7 termsGeneral Cryptocurrency Terminology
Blockchain Technologies Beyond Bitcoin
6 termsDeFi (Decentralized Finance)
7 termsTypes of Cryptocurrencies
6 termsMarket and Trading Terms
8 termsCommunity Slang
10 termsTechnical Concepts Explained Simply
8 termsSecurity Terms
6 termsWeb3 and Future Concepts
5 termsBitcoin Halving History & Schedule
Bitcoin's monetary policy is programmed to cut block rewards in half every 210,000 blocks (approximately 4 years). This chart shows all halvings from Bitcoin's inception through the year 2140.
| Halving # | Date | Block Height | Block Reward | Total BTC Mined | % of Supply Mined | BTC Remaining |
|---|---|---|---|---|---|---|
| Genesis | Jan 3, 2009 | 0 | 50 BTC | 0 | 0% | 21,000,000 |
| 1st Halving | Nov 28, 2012 | 210,000 | 25 BTC | 10,500,000 | 50% | 10,500,000 |
| 2nd Halving | Jul 9, 2016 | 420,000 | 12.5 BTC | 15,750,000 | 75% | 5,250,000 |
| 3rd Halving | May 11, 2020 | 630,000 | 6.25 BTC | 18,375,000 | 87.5% | 2,625,000 |
| 4th Halving | Apr 19, 2024 | 840,000 | 3.125 BTC | 19,687,500 | 93.75% | 1,312,500 |
| 5th Halving | ~2028 | 1,050,000 | 1.5625 BTC | 20,343,750 | 96.875% | 656,250 |
| 6th Halving | ~2032 | 1,260,000 | 0.78125 BTC | 20,671,875 | 98.4375% | 328,125 |
| 7th Halving | ~2036 | 1,470,000 | 0.390625 BTC | 20,835,937.5 | 99.21875% | 164,062.5 |
| 8th Halving | ~2040 | 1,680,000 | 0.1953125 BTC | 20,917,968.75 | 99.609375% | 82,031.25 |
| 9th Halving | ~2044 | 1,890,000 | 0.09765625 BTC | 20,958,984.375 | 99.8046875% | 41,015.625 |
| 10th Halving | ~2048 | 2,100,000 | 0.04882812 BTC | 20,979,492.188 | 99.90234375% | 20,507.812 |
- Total Bitcoin supply is capped at 21 million BTC
- Over 93% of all Bitcoin has already been mined (as of 2024)
- The last Bitcoin will be mined around the year 2140
- After 2140, miners will be compensated solely through transaction fees
- Each halving reduces inflation rate and increases scarcity
- First halving: 50% of supply mined
- Second halving: 75% of supply mined
- Third halving: 87.5% of supply mined
- Fourth halving (current): 93.75% of supply mined
- By 2032: Over 98% will have been mined
This terminology guide provides the foundation for understanding both Bitcoin and the broader cryptocurrency ecosystem. The field evolves rapidly, so continue learning as new concepts emerge.
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