Hello Hivers and LeoLions
Today we go a step deeper into Bitcoin. Most people know all these details but some might don't so if you are a Master Crypto-Sensei I suppose there is no info for you here.
About BTC
Bitcoin is the bigger Crypto with huge value and its also the most popular of all cryptocurrencies.
It is the Flagship of all cryptos and it actually defines the cryptomarket.
When you think Baby diapers you think of Pampers and use the word as a definition. The same goes for BTC. A lot of people especially individuals that don't know about Cryptos they know the word BITCOIN.
2.5M LEFT
So from the 21MIL Bitcoins, only 2.5 are left to mine!
Well, the value of the 2.5mil with today's price is around 27.500.000.000 so "only" is an ill-chosen word.
Less than 12% is left to mine and half of them will be mined in the next 4 years. The last Bitcoin will be mined around 2140 , so all the smartasses that had no idea about crypto and quoted that "this bitcoin is today's scam" will be bones and ash before the last of the Bitcoin is mined.
Halving
Also every 4 years like the Olympics we have the halving of Btc
What is Halving?
Every 200k blocks mined (approximately 4 years), the reward given to Bitcoin miners for transactions is cut in half.
This cuts in half the rate at which new Bitcoin is released into circulation.
In 2020 we experienced the 3rd Halving.
Next will occur in 2024.
Bitcoin is designed with the element of time as its ally.
2 critical advantages .
- The total supply is going to end.
- Every 4 years it's getting harder to mine.
So in economic rules, these 2 elements, make the value of the bitcoin bigger since its rarer, and with time if something does not drastically change value can go only up.
Let me know what you think about BTC - HALVING etc.
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