April 25, 2024

90% of all bitcoins have already been mined, it will take over 100 years to mine the remaining 10%

12/14/2021

According to businessinsider.com, the vast majority of bitcoins - 90% of coins - are already in circulation. Atindustry experts argue that it will take over a century to mine the remaining 10% of the cryptocurrency.

12 years have passed since the mining of the first bitcoins, and there are 18.9 million coins in open circulation. According to the forecasts of the CoinDesk exchange, the turnover of all bitcoins should be expected no earlier than 2140.

Halving bitcoin,which occurs approximately every four years, primarily means a reduction in the reward for each mined block. Halving continues to complicate the mining process. In other words, miners now receive 6.25 bitcoins for each block added to the blockchain, but in 2024 the amount of the reward will be halved.

Meanwhile, about 20% of bitcoins (3.7 million) of those already mined are considered "lost" for various reasons - this means that they cannot be obtained.