The world has only 10% of unmined Bitcoin left, mining difficulty rises to an all-time high!
CoinTelegraph news coverage, The 19 millionth Bitcoin (BTC) was mined on Friday (April 1), marking a landmark moment for today’s top cryptocurrency.
This means that there are only 2 million Bitcoins left unmined (or mined). Nevertheless, With the halving mechanism (halving BTC mining rewards) every 4 years, the 21 millionth Bitcoin will only be mined in 2140.
Only 2 million Bitcoins have not been minted or mined (Image: Unsplash)
The next halving of Bitcoin will take place around May 2024, halving the reward from the current 6.25 BTC/block to 3.125 BTC/block.
In the 730002th block, mined by SBI Crypto, The 19 millionth Bitcoin has been successfully mined. SBI Crypto received a reward of 6.32 BTC, equivalent to $293,000.
The CEO of Kryptovault, one of the most eco-friendly Bitcoin miners in the world, Kjetil Hove Pettersen, shared:We only have 2 million Bitcoins, less than 10% of the supply, left to mine.“
The last Bitcoin is expected to be mined in 2140 (Image: Unsplash)
“This may sound like a small number at first, but I believe miners can still mine Bitcoin well“, grandfather Petersen commented.
Bert de Groot, founder of Bitcoin Bloem, told CoinTelegraph that: “19 million bitcoins mined today marks a historic moment. This shows how important Satoshi Nakamoto. Wish we could send flowers to show our gratitude to him.“
And according to Vlad Costea, founder of Bitcoin Takeover: “Only 2 million BTC left to mine for the next 118 years!“. In the past 13 years since Bitcoin was born, miners have discovered 19 million Bitcoins. The last Bitcoin is expected to be mined in 2140.
Hashrate (hash rate – a unit of measurement of difficulty in cryptocurrency mining) is increasing (Image: Shutterstock)
According to data from BTC.com, the 18.5 millionth Bitcoin was mined in September 2020. BILLIONBetween January 9, 2009 and December 13, 18.89 million Bitcoins were mined, or 90% of the supply.
Currently Bitcoin miners will receive 6.25 BTC for each block they mine. Hashrate (hash rate – a unit of measurement of the difficulty of mining) is increasing day by day. It is estimated that by 2024, miners will only receive about 3,125 BTC per block chain, so the remaining 10% of the supply can only be mined after February/2140.
Information about cryptocurrencies (cryptocurrency), commonly known as “virtual money” has not been recognized by law in Vietnam. The information in the article is for reference only and has no investment recommendation value.
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