Bitcoin NewsMining

Bitcoin (BTC) Supply To Be Increased With Proposed Mining Of 17 Millionth Coins

A data from Blockchain.info revealed that there may be an increased supply of Bitcoin due to the 17 millionth bitcoin alleged to be mined in some days. This is a huge progress for bitcoin, due to the fact that Bitcoin’s byelaw stipulates that only 21 million bitcoin can ever be created. The first thing to note is that Bitcoin was made to be scarce economically with the said 21 million which could be created, but now there is potential availability for the coin.

According to different reports, it is easy to guess the time that the bitcoin would be mined due to the common software sync. In the views of many, like Tetras Capital founding partner Alex Sunnarborg, when contacted by . Bitcoin, revealed that the result could best be interpreted as 80 percent of all the bitcoin that will be ever created have now been mined, stating that just 1/5 of the supply is apportioned to future miners and buyers.

Tim Draper sees it as an “awesome,” milestone, for the fact that the founders did not imagine Bitcoin could go this far.

“I would bet the founders wouldn’t have imagined how important bitcoin would become in their wildest dreams.”

Some also, in their observation believe the mine is an enlightenment on the future of the coin and even other cryptocoin. Many do not know that unless those behind Bitcoin make changes, it is impossible to introduce more bitcoin to the crypto space.

The Futures of Bitcoin.

The recent statement that from Nasdaq on Bitcoin give more credence to the coin. People are doubting the legitimacy of Bitcoin and the cryptospace entirely. However, they are now opening their minds to the fact that cryptocurrencies have come to stay.

Yesterday, Adena Friedman, CEO of Nasdaq, made it clear that crypto has no possibility of dying any moment from now.

“I believe that digital currencies will continue to persist…it’s just a matter of how long it will take for that space to mature,” Friedman opined on CBNC.

“Once you look at it and say, ‘do we want to provide a regulated market for this?’ Certainly, Nasdaq would consider it.”

Above statement by Nasdaq CEO is making many people have a rethink of cryptocurrency. Soon, government will start embracing the coin.

About author

Yusuff O.
    Sign up for our Newsletter