Bitcoin Mining has ended
So what Happens to Bitcoin After All 21 Million are Mined?
Creation Story
The story of Bitcoin began in 2008, after the global economic crisis, when an article by the software writer, Satoshi Nakamoto, was published online. The first version of the protocol and software of the Bitcoin coin: a 32-character series of letters and letters built like a code, To accept it, you must solve a mathematical problem. The problem solves a computer in a process called "mining" - just like mining gold.
In total there are 21 million "coins", that is Bitcoin codes. To date, 16 and a half million of them have been sold, and the software is built so that every four years the rate of mining decreases by half so that it becomes increasingly difficult. In mathematical calculations, the mining of the bitcoins is expected to be completed in about 120 years. These coins are completely independent and do not depend on anybody or bank.
After you buy a new Bitcoin or buy an old Bitcoin, you store it in a digital wallet and can hold it forever or pay for it. However, unlike payment by check or bank transfer, which takes time and is supervised, Bitcoin transfer is immediate - depending on the money you have in your wallet, and is made between two private accounts that no one supervises. This means, among other things, that the method can be used to launder money or pay for illegal transactions - as happened in the past in drug deals carried out at DarkNet.
After the Bitcoin, other digital coins were invented. The hottest and last of these is the lithium, which was born a year ago, has grown from a $4 to $300 apiece, and is considered the second most common currency after the bitcoin. Other common digital coins are the Lite-Coin, the Ripple, and the Bitcoin-Cash, which is run by Bitcoin reactors and today runs independently and actually competes with it. None of these has yet succeeded in defeating the Bitcoin, who has turned the first investors into millionaires and billionaires.
No one knows what will happen with the Bitcoin. It can go up or down, so it is a risky investment. I believe that the currency will continue to grow, but a person who reads the article cannot accept a decision to invest. I would recommend that he learn first what Bitcoin is and only if he believes it - that he invests, and no more than he can afford to lose.
Images via Pixabay.com
Interesting and informative post. Thnx a ton for sharing such a valuable post on Bitcoin in recent times. I find your article very simple and understandable for a newbie like me in the field of cryptocurrency market.
I've a little knowledge on this coin market, its impact globally, individually, financially, economically or even mentally. But, it's not that I dont want to learn or gain knowledge, it's in the process.....
Thank you very much friend for your beautiful words
Thanks for the interesting things you wrote. The second coin is the ehtereum. Isn't it?
Thank you very much, dear friend, yes the second coin is ethereum
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Thank you very much, dear friend for your help
Quite informative text for me as a beginner in world of digital currencies . Thank you very much, very appreciated.
Thanks a lot friend, I'm glad to hear that it helps
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Nice post @nirgf :)
I guess you can elaborate it more.
Too short for me to read.
Thank you very much, you are right, but there is a lot of material to read about this subject,
I just wanted to raise a small point out of a lot of information that exists.
Very informative post.. I like the discussion on what will happen if all bitcoins were mined? To date, its really hard to get bitcoins now...
Thanks for reading and commenting
of course.. anytime.. please upvote mine too..
Hey @nirgf,
Well-thought out and completely thoughtful post. Bitcoin is a discovery that changed everything for the future of money. And to think that the inventor is an anonymous Satoshi Nakamoto is very funny.
Well, I didn't know that the last one will be mined around 120years from now. But whatever it is, bitcoin may just eventually be more of a store of value . And that is only because of the pivotal role it plays all over the crypto-world. It will be used for less and less transactions as time goes on.
There are more coins with better features. You can check out my post:
5 Ways Steem Is Better Than Bitcoin for more details.
Cheers bro.
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