In May 2020, the value of bitcoin mining halved to 6.25. There are 21 million bitcoins in total, and 87.5% of them have been mined. Halving means reduction in the cost of mining every time miners hit a specific number of blocks. The finding more blocks and clearing them is mining. The value of bitcoins shoot up. It was considered a digital gold rush. More people involve in mining. Every time 2.10 lac blocks get cleared, the value halves. At first 2.10 lac blocks, the value is 25 bitcoins. At 4.2 lac blocks, it is 12.5 bitcoins. At 6.3 lac blocks, it is 6.25 bitcoins. The value reduced till 2140, when it becomes zero. That is the point when the transaction fees would increase.

As there is block difficulty, progressively it is difficult to mine a block. This is the built-in safety value. It protects it from too much mining.

It is challenging to mine bitcoins over a period of time — more expensive equipment and servers to do so. The cost rise. Amateurs quit the game. At the same time, the price of bitcoin rises. Bitcoin has a limitation — it can store only 4MB data. Thus unless the blockchains of other countries interact, its utility will not be complete.