New Bitcoins are created through "mining", which is a competitive and decentralized process. This process involves individuals providing services to the Bitcoin network and being rewarded for doing so. Bitcoin miners use specialized hardware to process transactions and secure the Bitcoin network, and collect new Bitcoins when transactions are made.
The Bitcoin protocol is designed in a way that new Bitcoins are issued at a fixed rate. This makes Bitcoin mining an extremely competitive industry. As more and more miners join the Bitcoin network, it becomes increasingly difficult to make a profit, and miners must seek efficiencies to cut production costs. No central authority or developer has the power to control or manipulate the system to increase their profits. Any behavior that does not conform to the rules that the system is required to follow will be rejected by any Bitcoin node in the world.
Bitcoins are issued at a predictable and gradually decreasing rate. The number of new Bitcoins generated will halve each year until the total number of Bitcoins reaches 21 million. By then, Bitcoin miners may only be supported by a large number of small transaction fees.
