How many bitcoins have been mined as of today

How Many Bitcoin Blocks Are There Today? There have been , blocks mined. Quick.
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• How Many Bitcoins are There? – 85% of the world’s Bitcoin has been mined
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It's worth keeping in mind too that, given the rewards for mining blocks of bitcoin will be decreasing every four years, it means the miners will be receiving a much smaller proportion of any block verified and so inevitably the whole nature of mining it will change. Remember, too, Bitcoin has come from nowhere in the last decade to be talked about as a serious alternative to the more orthodox currencies we trade with on a day-by-day basis. Given there's at least years before bitcoin miners are likely to face the reality of its finite capacity, you can expect that new methods and new protocols will inevitably make the market unrecognisable to the one that's currently operating today.

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Bitcoin mining — the process in which a bitcoin is awarded to a computer that solves a complex series of algorithm — is a deeply energy intensive process. Bitcoin mining — the process in which a bitcoin is awarded to a computer that solves a complex series of algorithms — is a deeply energy-intensive process. Miners are rewarded in bitcoin.

But the way bitcoin mining has been set up by its creator or creators — no one really knows for sure who created it is that there is a finite number of bitcoins that can be mined: 21m. The more bitcoin that is mined, the harder the algorithms that must be solved to get a bitcoin become.

Now that over Instead, mining now requires special computer equipment that can handle the intense processing power needed to get bitcoin today. And, of course, these special computers need a lot of electricity to run. The speed of mining depends very much on the equipment you are using. Currently, in , the mining rewards is set at Since the launch in , it has halved two times already in , and now set to half in July of this year reducing the reward further to 6.

Currently, the total mined bitcoin or in existence is somewhere around 18 Million. Since a new block is added every 10 minutes to the blockchain, and each block as of now produces The calculation of per day mining is pretty simple. We know, there are 60 minutes per hour and 24 hours per day giving a total of minutes and since it takes 10 minutes to mine one block, therefore, in a day blocks are mined.

To calculate the current per day mining rate, you just multiply by the current reward size. This means per year, we mined , BTC and after the halving in June, this rate will reduce to per day and , BTC mined per year.

You might find yourself wondering why Satoshi Nakomoto thought it would be good to limit the supply of Bitcoins. The concept behind this is to establish an automatically adjusted balance of supply and demand. The concept of Bitcoin emerged as a strong opposition or more so a remedial structure of transactions to the centralized banking system. One major flaw of the conventional banking system is the ability of the bank to curb or dilute the supply of money in the market, therefore, controlling the purchasing power, inflation and economic conditions along with it.

Bitcoin, on the other hand, aimed to establish a decentralized form of a network where no entity could influence in of itself the supply of the bitcoins, therefore, creating an automatically adjusting supply of bitcoins through capped supply and diminishing rewards. If for instance, the supply was not capped, the chances of bitcoin gaining substantial rapport as a store of value and investment vehicle would not have been possible.

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In fact, given its infinite supply, people would have continued to mine as much as they want. Similarly, if the supply was indeed capped but the mining block reward did not decrease geometrically, but rather remained constant, it would have taken merely 8 years for the supply cap to have reached.

Had it ended in 8 years, the early adopters would have mined all the BTC and left nothing for the rest of the enthusiasts, slowly killing the idea of digital currency along with it. So, to put things into perspective, Satoshi Nakomoto definitely did put in great thought into selecting the right timeframes, declining the mining rate and choosing to put a finite limit on the supply for Bitcoin.

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• All Of The Bitcoin Will Eventually Be Mined And Here's What Will Happen.

Now you may ask, the code is open-source, someone can just tweak that limit. You can change the supply but if the majority of the nodes do not accept the change, it will result in hard fork , leading to some or most of the nodes choosing to stay with the original chain and the new forked chain ultimately dying out due to lack of interest. Furthermore, if someone were to maliciously attempt to forge bitcoins, that is something that will not end well either.

Since at each time, it is possible to correctly estimate the number of bitcoins in circulation thanks math!