What Lies Ahead? Only 20% of Bitcoin Supply Left to be Mined
Out of the 21,000,000 BTC coins – 80 percent has been mined [approx – over 16 mil BTC. With that, it means that around only 4.2 mil coins are left to be found by the hard working miners. For starters, miners find use powerful computers to clear out algorithms. When the problems are solved, then the found coins are in the cirtculation area and shared in small parts between the miners.
Taking a step back and remembering the whitepaper, the creator [person/team] – Satoshi Nakamoto – headlined out that the supply number is just below the 21 million – to be more precise 20.999.999 BTC.
Miners are currently receiving 12,5 BTC per block mined. However, in two years, there will be what is called “halving” of reward and this number will drop to around 6,25 BTC per block. This reward will keep decreasing and will be divided by two every four years. Moreover, the mining difficulty is also set to increase gradually. This means that it will require more computer power, and therefore more miners coming together to mine bitcoin as time goes by. So one can wonder, when will the total supply of bitcoin be mined? Well, according to expert calculations, this day should come in the year 2140. Therefore, there is still a long way to go before each and every bitcoin is mined and in circulation.
When all are mined, you can only think how rare it will be to own even one bitcoin which would directly be connected with its price increasing proportionally with the demand as the supply number stays the same.