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| comment | | "parent_author":"",<br>"parent_permlink":"cryptocurrency",<br>"author":"coinshare",<br>"permlink":"85oftheworldsbtchasalreadybeenmined-epuccvluqe",<br>"title":"85% of the world\u2019s BTC has already been mined",<br>"body":"<center>https:\/\/cryptotreat.com\/wp-content\/uploads\/2019\/08\/bitcoin-miners-e1477665223385-860x430.jpg<\/center> <br\/>Bitcoin has crossed a historic landmark in terms of supply,<br> as 85%of the world\u2019s BTC has already been mined.\n<h2>Bitcoin Mining<\/h2>\nAs of August 1,<br> bitcoin miners have released 17.85 million of the 21 million total BTC supply,<br> which means that 85% of all bitcoin has already been mined. While most investors are focused on next May\u2019s halving event,<br> which will cut block rewards from 12.5 BTC to 6.25 BTC,<br> the actual supply of bitcoin is already nearing its relative maximum.\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\" xml:lang=\"en\">Did you know that 17,<br>850,<br>000 bitcoin has been mined?<\/p>\n85% of total supply has been mined.\n\n\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2591\u2591 85%<a href=\"https:\/\/twitter.com\/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw\">$ETH<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24DAPS&src=ctag&ref_src=twsrc%5Etfw\">$DAPS<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/cryptocurrencies?src=hash&ref_src=twsrc%5Etfw\">#cryptocurrencies<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Decentralized?src=hash&ref_src=twsrc%5Etfw\">#Decentralized<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/WhenCryptoNews?src=hash&ref_src=twsrc%5Etfw\">#WhenCryptoNews<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/cryptocurrencynews?src=hash&ref_src=twsrc%5Etfw\">#cryptocurrencynews<\/a>\n\n\u2014 When Crypto News (@WhenCryptoNews) <a href=\"https:\/\/twitter.com\/WhenCryptoNews\/status\/1156742102660911109?ref_src=twsrc%5Etfw\">August 1,<br> 2019<\/a>\n<\/blockquote>\nSatoshi Nakamoto,<br> bitcoin\u2019s creator,<br> called the step-wise production of bitcoin the \u201cbest\u201d method of distribution,<br>\n<blockquote class=\"text-center\">\u201cCoins have to get initially distributed somehow,<br> and a constant rate seems like the best formula.\u201d\n<\/blockquote>\nAs outlined in the original whitepaper,<br> bitcoin has a maximum supply of 21 million BTC. Despite the creation of hard forks and other spin-offs,<br> only 21 million BTC will ever be produced--with most reports speculating that 20 - 25% of the supply (4 million BTC) has already been lost or locked in an unrecoverable state.\n\nThe limited supply for bitcoin was originally designed as a way to keep the currency's inflation in check. With 3.15 million BTC left to be mined,<br> investors are beginning to make a strong case for the coin\u2019s scarcity,<br> in addition to its potential as a deflationary asset.\n\nDespite being only 15% of the max supply,<br> the next 3 million BTC will take over 100 years to fully mine. With the regular decrease in block rewards,<br> the final bitcoin is expected to be mined in the year 2140,<br> making it a long wait for BTC enthusiasts.\n<h2>Supply and Demand<\/h2>\nBitcoin price volatility has been on the rise throughout the last month,<br> as cryptoassets come under fire from the regulatory blowback over Facebook\u2019s libra. However,<br> analysts are beginning to look long-term for bullish indicators and settling on the decreased supply.\n\nCNBC\u2019s Joe Kernen predicted on Monday that bitcoin could reach $50,<br>000 by May 2020,<br> when the block reward reduction is expected to occur. Kernen cites investor anticipation over the dwindling reward,<br> in addition to the economics of supply and demand.\n\nMorgan Creek Digital co-founder Anthony \u2018Pomp\u2019 Pompliano has also been a proponent of the market scarcity theory. Pomp calls it a good bet that bitcoin\u2019s price will increase as the supply decreases and predicted BTC reaching $100,<br>000 by 2021. <br \/><center><hr\/><em>Posted from Cryptotreat <a href='https:\/\/cryptotreat.com\/'>Cryptotreat<\/a> : https:\/\/cryptotreat.com\/85-of-the-worlds-btc-has-already-been-mined\/ <\/em><hr\/><\/center> ",<br>"json_metadata":" \"community\":\"steempress\",<br>\"app\":\"steempress\",<br>\"image\":[\"\" ,<br>\"tags\":[\"cryptocurrency\",<br>\"bitcoin\",<br>\"mined\" ,<br>\"canonical_url\":\"https:\/\/cryptotreat.com\/85-of-the-worlds-btc-has-already-been-mined\/\" " | | comment_options | "author":"coinshare",
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