One of the most outstanding characteristics of Bitcoin is that the maximum number of coins that can be created is clearly established. 21 million bitcoins can and will be created. Not one more, not one less. This is how it was designed.
A feature of the most popular cryptocurrency that this August is worth remembering because a milestone has been reached on its first day: 85% of its total supply has already been mined. According to the data provided by the Blockchain platform, this first of August the 17,850,000th unit of Bitcoin has been extracted.
This first of August the unit number 17,850,000 of bitcoins has been extracted
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In 2140, Bitcoin mining will be history
This milestone, added to another characteristic of the currency such as the decrease in currency units granted to mining decreases as time passes, leads us to a curious conclusion. The rest of the coins will not be in circulation until the year 2140. Or what is the same: for the next 120 years only 3.15 million bitcoins remain to be obtained.
As explained in CointelegraphIn less than a year, in May 2020, the next reduction in payments to Bitcoin miners will occur. From 12.5 BTC per block it will go down to 6.25 BTC. This new milestone in the future of the digital currency, some analysts point out, should increase its price.
However, when we get to 2140, the year that Bitcoin mining will be history, not all Bitcoins in the world will be exactly in circulation. The reason is none other than the wallets you abandon or, probably mostly, the wallets inaccessible to their users due to loss of credentials or other kinds of problems.
A study last year ventured that between 17 and 23% of existing bitcoins are lost in oblivion. According to his calculations by those responsible for the work, at that time there could be between 2.78 and 3.79 million bitcoins lost in the depths of the blockchain.