How many total bitcoins are there in the world today

This happens in the process of halving – reducing miners’ rewards for their work. Every 4 years, payments for mining the main cryptocurrency are reduced by 2 times.

The table reflects the changes that occur as a result of halving cycles. It can be seen that the block high grows in proportion to the reduction of the reward.

A total of 32 halvings are planned by the developers. Analysts note that as a result of mining the maximum volume of coins, Bitcoin will be able to displace gold in terms of its value and become a protective asset.

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How much BTC is mined per day

There are 900 new coins per day. The value of 1 block is 3.125 BTC, and it takes an average of 10 minutes to mine it.

Reasons for limited issuance

The concept of limited issuance is the desire of the programmers behind the development of the cryptoproject. Over time, this approach will influence the asset’s price to increase and bitcoin to become a “hard currency”. But there are a number of other reasons for limited issuance:

• Demand management.
• Eliminating inflation.
• Competitiveness against fiat currencies.
• Psychological value factor due to scarcity.

Trends are already demonstrating the fact that developers have not made a mistake in their approach to limited issuance of coins. The following are worth noting:

• Miners do not leave the market even after the 4th halving and believe in the project.
• Bitcoin overtakes most other virtual assets in terms of capitalization by dozens of times.
• The cryptocurrency influences other coins when trends change.

When the last Bitcoin will be mined

The network’s algorithms and limited issuance allow you to determine the period of the end of coins quite accurately. As a result of halving, the number of mined coins is reduced by 2 times. If the developers do not change plans, then 32 cycles will occur.

Using the formula, you can mathematically calculate when the maximum amount of Bitcoin in the world will be released:

A+A/2+A/4+A/8+…A/2x,

where x is the degree, which corresponds to the number of halving cycles. As a result, it will take approximately 119 years to complete mining 10% of the remaining coins. The last BTC will be issued by 2140.

Lost Coins

In a separate piece on the site, you can find out who has the most Bitcoins in the world. But not all of the coins mined and placed on wallets are available for use.

In July 2023, representatives of the tracking group Glassnode Alerts indicated in their Twitter account that almost 7.78 million BTC were lost or in long-term storage. This represents 39% of the number of bitcoins mined.

The coins were lost due to cryptocurrency wallet owners forgetting or losing private keys. In fact, they these units of assets exist, but due to the inability to access them are considered lost.

Summary

Experts believe that there can be no radical changes with Bitcoin now and in the future. The cryptocurrency will continue to hold a strong position after the maximum number of coins have been mined.

But there are threats:

• The emergence of computers capable of decrypting private keys.
• Competition in the virtual coin market and better technology.
• Increased regulation of cryptocurrencies at the state level.

By 2140, there will be significantly fewer coins in circulation. The reason for this is lost koins in cryptocurrency wallet accounts. Maybe exchanges will close without compensating users for their losses.

The assumption that digital currencies will surpass fiat money is mentioned even by avid skeptics. But what shocks and changes the assets will undergo over the decades is anyone’s guess.

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