80% of All Bitcoins Have Been Mined Until Now
People interested in entering the bitcoin mining operations world will definitely not be happy with this. It has been revealed that no less than 80% of all bitcoins have already been mined. Of course, this means that the number of bitcoins to be mined remains quite limited. Only 20% of the cryptocurrency are left to be mined.
As the number of available bitcoins decreases, the cryptocurrency becomes harder and harder to mine. Of course, this means that bitcoins are now even more difficult to obtain.
Why are there only 20% bitcoins to be mined?
The inventor of bitcoin Satoshi Nakamoto created a protocol that limits the number of bitcoins that can be released. The bitcoin protocol was launched in 2009 and included a codebase that established that the digital currency has a limited supply. The supply cannot be increased and the maximum of bitcoins that can be mined is 21 million.
Until now, the creator of bitcoin and miners have been able to keep this cap in place. However, some analysts claimed that at one point this might change and manipulative tactics could lead to the issuance of new bitcoins. If that will ever happen or not is something yet to be found out. What seems certain is that until now no one has been able to break this rule.
Well, some have claimed that the fact that the bitcoin supply is limited has made people more interested in acquiring it. Usually, when there is scarcity, the demand on the market becomes higher. Some believe that this limited supply will also turn out making bitcoin more valuable over time.
Regardless of these predictions, the fact is that it will take more time and more power to mine bitcoins as the supply available keeps on decreasing. Even large warehouses specialized in bitcoin mining might start facing some difficulties. In such conditions, there is no wonder that the price of bitcoin is also expected to increase.