How many bitcoins left to be mined

What Happens to Bitcoin After All 21 Million Are Mined?

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Learn: Difference between max supply, circulating supply and total supply. Currently there are quite over As of writing this article the exact number is 18,, BTC which will change every 10 minutes. If you are running Bitcoin core wallet then execute gettxoutsetinfo command in the console window. It will return the exact current circulating supply. Also there are many Bitcoin block explorers which will provide you the same numbers. With only 21 Million Total supply and with Now the question is when the remaining 2.

You see Bitcoin is just over a decade old. On 3 Jan Bitcoin came into existence where the first block genesis block was mined by the founder Satoshi Nakamoto. So you might think it will only take a few more years to mine the remaining coins. But actually it will take another Years to mine the remaining coins and approach the maximum supply of 21 million BTC. It is expected that approximately by the year is when all the Bitcoins will be mined. Let see how it works. Bitcoin was designed as a deflationary currency. To achieve this the Bitcoin blockchain has a predefined set of consensus rules such as:.

Ever since its inception the Bitcoin network controls the issuance of coins all by itself and the above consensus rules remain unchanged till date. So the supply limit is hard-coded and by design the Bitcoin blockchain only releases a fixed number of Bitcoins. With time the number of Bitcoins introduced to the Bitcoins supply will get diminished.

This will lower inflation rate and increase the scarcity which in turn has historically driven the price up. Take a look at the Bitcoin Yearly chart to understand this.

How many bitcoins are in circulation today?

Bitcoin block reward halving is part of the design. The concept behind the block reward halving is to establish an automatically adjusted balance of supply and demand. For instance just think what happens if the Bitcoin supply is not capped at 21 Million and the block reward is not halved every 4 years. With infinite supply the chances of Bitcoin being called as an investment or a store of value would have not been possible.

People would have mined as much they want.

Similarly if there were no mining block reward halving event it would have only taken 8 years to mine the entire supply. If it was all mined by the early adopters then there will be no coins left for new enthusiasts which will eventually kill the Bitcoin adoption. It would have never went mainstream. Also you know how to look for the current circulating supply. In Bitcoin the target block time is 10 Minutes. That is the network aims to produce one block every 10 minutes. In order to find a block miners need to solve a problem and that needs a lot of computing power.

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So what happens if there are lots of miners or very less hashing power on the network? To ensure smooth functioning of the blockchain there is something called difficulty adjustment which adjusts the mining difficulty every blocks roughly every 2 weeks. If there are more miners on the network with more hashpower then the blocks will be solved in less than 10 minutes. Likewise if there are less miners solving the hash problem it will take quite more than 10 minutes to find a block.

The difficulty adjustment is designed to ensure that on average every block is solved at 10 minute intervals. If the block is discovered in less than 10 minutes the mining difficulty rises accordingly. Similarity less computing power on the network reduces the mining difficulty. Bitcoin miners receive Bitcoin as a reward for finding and validating a block of transaction.

This is called mining rewards or block rewards. Now not all miners on the network will receive the block reward. Only the one who discovered the block will get the reward. It can be an individual with a large mining farm, or it can be a group of miners mining pool. Just like block time and block reward, halving event is also part of the design. Just like how mining difficulty is adjusted automatically the halving event also occurs automatically every , blocks. This will simply cut down the reward to half. So far the Bitcoin network has undergone three halving events.

When Bitcoin was launched the block reward was 50 Bitcoin per block. In it halved to 25 Bitcoin. Likewise in it again halved to Later in it was reduced from The current Bitcoin block reward is 6. This design will effectively lower the Bitcoin inflation rate over time. The site has all the information you need to know along with real time updates. The block reward currently is 6.

How Many Bitcoins Are There Now in Circulation?

Note: This calculation is made based on the block reward and block time. The numbers may be slightly off. Also note that it will change every 4 years due to the halving event which is programmed. The issuance of new Bitcoin is halved every 4 years. At this rate the last Bitcoin is expected to be mined by the year No more Bitcoin enters into circulation. That is after the year there will be no more new Bitcoins left to be mined. So what happens to the miners and what happens to the network?

Today miners verify transaction on the Bitcoin blockchain and help prevent the double spending problem. The main reason why they secure the network is because of the incentives. The mining rewards which they get from solving a block. One of the biggest concern and question is how will the miners secure the network when they are not rewarded for their work? You see other than block rewards miners also earn a small amount of transaction fees.

Many experts believe that miners will take another years to mine the remaining bitcoins. Due to bitcoin halving , for every four years, mining of the remaining bitcoins will become two times slower. Thus, there will be a slower discovery of bitcoin by miners as the years go by. It is also worth mentioning that even though miners mine all the bitcoins, mining will continue. There will likely be more rewards for mining in the form of transaction commissions in the block.

Apart from knowing how many bitcoins are left , it is also vital to know how many are available today.

How many Bitcoins are left?

The current supply of bitcoin available is approximately over 18 million. There are several ways that you can use to stay updated on the number of bitcoins available currently. You can either opt to consult Blockchain. With this mobile application, you can open up the Bitcoin section and determine how many bitcoins are left in circulation. You can also follow Messari, a reputable Bitcoin tracker that gathers all types of exciting metrics on bitcoin. It is difficult to differentiate between a lost bitcoin and one held for the long term. In a recent report , approximately million bitcoins are lost forever.

So, how do miners and investors lose bitcoin? Bitcoin miners and traders control this digital currency on their bitcoin address using a private key. This private key to the address is only known to the holder of bitcoin. Thus, if the bitcoin address owner is unable to use the key for some reason or loses it, the bitcoins from that address are considered lost and cannot be withdrawn or used. Over the years, many people have become careful with their private keys. But, when bitcoin was a new concept and commodity, the owners were far less cautious.

Other ways to lose bitcoin include:. Generally, it takes about ten minutes to solve the complex mathematical algorithms in bitcoin technology. Upon solving, the miner receives a bitcoin reward and proceeds to solve another block. Currently, the block reward is at 6. It is also worth noting that bitcoins are mined daily. After knowing how many bitcoins are left , it is crucial to know what happens after all the bitcoins are mined. Upon generating all bitcoins, there will be no new bitcoins released in the network, as long as the mining protocols remain the same.

But, the largest bitcoin cap supply remains at 21 million. So, what are the possible implications of bitcoin reaching its greatest supply limit? After every successful block mining and verification on the network, miners receive a block reward and incentive fees from every transaction. The bitcoin network pays miners a large amount of money to secure the network and as compensation for their efforts in solving and verifying each transaction.

The higher the fees, the more incentives the miners gain, and the faster their transaction is included in a block. When all bitcoins are mined, there will be no block rewards , and the incentive fees will reduce drastically. Miners will only earn from transaction fees, as collected from every verified transaction.

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