The world has 'dug' 80% of Bitcoin

in #blockchain7 years ago

 The 21 million bitcoin limit is approaching when diggers have exploited more than 16.8 million bitcoins, equivalent to 80% of that amount.

Unlike the rest of the coin, bitcoin is limited in quantity. Whether or not it is, a total of only 21 million bits can be excavated. Later on, the bitcoin mining level is even harder, with fraud, bitcoin stealing increasing dramatically.

The first bitcoin block was started by founder Satoshi Nakamoto in 2009. At that point, each block corresponded to a 50-bitcoin (BTC) reward.

For every four years or 210,000 blocks established, the bonus will be reduced by half, first 50 BTCs (2009) then 25 BTCs (2012), and now at 12.5 BTC. Currently, the total amount of bitcoin can be exploited to 20%.

 Can only exploit 21 million bitcoin. Predictably, the last bitcoin will be excavated in 2140.

The bitcoin's own shortage is one of the reasons why this codec has gone up sharply over the past few years. Bitcoin is also the highest value encoding, both in terms of capitalization and exchange rates.

Other codecs such as Ethereum are not limited in number, meaning that diggers can exploit as much as they like as long as they are worth the money.

The difficulty in exploiting the last bitcoin is increasing, while the reward is reduced. The speed of new digging will slow down and it is difficult to predict how much the bitcoin will be worth.

Also, it is difficult to predict the time of digging the last bitcoin as this also depends on the speed of hardware development. However, many predicted that the time would be 2140 when all present investors became "dust". 

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