There are only 21 million bitcoins that can be mined in total. Once bitcoin miners have unlocked all the bitcoins, the planet’s supply will essentially be tapped out.
Currently, around 18.5 million bitcoins have been mined; this leaves less than three million that have yet to be introduced into circulation.
Once all Bitcoin has been mined the miners will still be incentivized to process transactions with fees.
While there can only ever be a maximum of 21 million bitcoins, because people have lost their private keys or have died without leaving their private key instructions to anybody, the actual amount of available bitcoin in circulation could actually be millions less.
It’s worth noting that it is projected to take more than 100 years before the bitcoin network mines its very last bitcoin. In actuality, as the year 2140 approaches, miners will likely spend years receiving rewards that are actually just tiny portions of the final bitcoin to be mined. The dramatic decrease in reward size may mean that the mining process will shift entirely well before the 2140 deadline.
Bitcoin is obviously scarce. And it seems to becoming scarcer over time.
The institutional interest in Bitcoin has become a big indicator that this crypto is legitimized for the first time in the history of Bitcoin. A recent report shows that institutions have bought billions in Bitcoin.
Bitcoin is like anything else: it’s worth what people are willing to pay for it.
Bitcoin Cash is a cryptocurrency that is a fork of Bitcoin. Bitcoin Cash is a spin-off or altcoin that was created in 2017. Two subsequent chain splits of Bitcoin Cash have occurred after the original 2017 split from Bitcoin. In 2018, Bitcoin Cash split into two cryptocurrencies: Bitcoin Cash and Bitcoin SV.
Bitcoin Cash is a different story. Bitcoin Cash was started by bitcoin miners and developers equally concerned with the future of the cryptocurrency and its ability to scale effectively. However…