Hi HODLers,
Another day, another milestone reached I guess.
Yesterday, we learned that we mined the 19 millionth Bitcoin. Meaning there will only be 2mn more mined and after this... That's it! No more new Bitcoin.
This mean that 90% are in circulation today. Well, kind of, because if you think about all the lost private keys, Satoshi's wallets, etc... I would be surprised if even 70% of these are accessible.
Fun fact I did not know; the genesis block mined by Nakamoto had a reward of 50 Bitcoin which has not been claimed to this day. This is currently equivalent to $2.3mn.
2022 Reward for mining one Bitcoin block is c.6.25BTC (c.$300k).
WEN next halving?
It is currently planned to happen on March, 2nd 2024! In a little bit less than 2 years.
What happens when no more Bitcoin are mined?
Well, most people in the space already asked themselves this question and therefore already know the answer but if you did not here it is.
Once there will be no more newly mined Bitcoin, miners will be rewarded with users' transaction fees to validate transactions.
On this topic, I was wondering how the network could at the same time be secture (lots of computing power) and have low fees (with lightning and cie)?
If fees are the only thing paying miners and these are low, how will we attract all the computing power needed to protect the network?
Until then, stay safe out there.
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Damn, that was fast. The real scarcity starts now. Only 2M left to go which is insane when you think about it. BTC is still a teenager in human years.
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I was also shocked that only 2mn are left... Crazy! I almost hoped we still had 10 years xD
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the new Bitcoin halving of 2024 will again produce a market rise. I believe that in 2025 this market will be worth double what it is today. Thanks for information
Hopefully! Will it be worth twice as much as today or our FIAT will be worth twice less :D. Just saying... lol
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That's interesting. I didn't know much about the time frame in which things are supposed to happen so it was quite a surprise to find out that the last Bitcoin probably won't be mined for another 100 years or so. I thought that would happen much sooner
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Wow, I had to check that out and you are right! I did not know the last one is supposed to be mined in 2140! Crazy... Thanks for the comment
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is satoshi still able to claim it
Yes he would be :D
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One day
Time will tell but honestly that's such a ways away that it probably would not matter then
By millions of personal computers running nodes and mining.
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