17 Million Bitcoins Have Been Mined So Far
According to information from satoshi.info, 17 million bitcoins have been mined so far. This means that out of the 21 million possible number of bitcoins in supply, 17 million bitcoins are now in circulation and only 4 million bitcoins (about 19%) are yet to be mined. Data has it that about 1,800 bitcoins are mined every day.
The bitcoin mining protocol is designed to make the rate at which coins are produced to be slower over time. After Every 210,000 blocks, the network halves the block reward, this means that the rate of new BTC creation exponentially slows down.
The most recent reward halving occurred in July 2016 and the instant reward that is gotten from mining a block is 12.5 bitcoins. The next block reward halving is expected to takes place on May 29th, 2020 and during this period, the reward for mining a block will be 6.25 bitcoins.
Following these procedures, it is estimates show that the last bitcoin will be mined in May 2140. This means that the total supply of bitcoin will be achieved in May 2140, according to estimates.
Will you be alive to witness this?
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Exciting huh?! @ajongcrypto
Truly exciting! @researchgeek
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