Today was another momentous event in the history of Bitcoin — miners got exactly 85 percent of all coins that will ever exist in the world. All of the 21 million possible BTC to date, there is 17.85 million coins. The actual number of bitcoins in circulation is much less because many of them lost forever, or stored long-term in cold storage.

Mining as a business should not lose its profitability even after mining of the last bitcoin. Most likely, the miners to readjust to the new model of network operation Bitcoin in which their entire income will be provided by the commissions. A detailed analysis of the situation described here.

The Creator of Bitcoin Satoshi Nakamoto has decided to limit the issue of his creation. Moreover, the emergence of new bitcoins is fully predictable, even regardless of the number of miners on the network. Analysts are still arguing about why Satoshi chose 21 million. However, the fact remains — the world will never be the larger number of bitcoins.

Co-founder of Interchange Dan heald said that Nakamoto was originally trying to create something scarce. Such an asset would really grab the attention of investors, with growing demand with a limited supply would have made it an excellent tool for capital accumulation.

Note that in theory the maximum number of bitcoins is still possible to increase at least a trillion times with hard forks. A group of cryptoendoliths previously advocated for a gradual increase in the maximum number of coins. They argued their decision to care for the miners.

Few of kalingaw the reward for mining blocks will fall to a point at which to engage in this business will become completely unprofitable. By removing main limit of Satoshi Nakamoto will be alleged to achieve moderate inflation, BTC and miners will earn only commissions. Note that the community is opposed to any radical changes in the design of the first cryptocurrencies.

The following halving of Bitcoin will be in may 2020. Many analysts predict explosive growth of the coin to this date. Halving is also the main trigger the main phase bullrun. The well-known trader Peter Brandt expects that the price of BTC can rise up to 100 thousand dollars after cutting back the rewards for the block of the cryptocurrency.

However, some opponents of the industry still feel that gold is the best means for capital accumulation. According to the head of Euro Pacific Asset Peter Schiff, the rise of Bitcoin is a fraud, which overshadowed the eyes of kriptosistem.

The message Produced 85 percent of all bitcoins. What’s next? appeared first on