Bitcoin:15% Remaining to Be Mined

The Bitcoin network has already distributed 85% of the total supply of bitcoins to minors; only 15% left to be mined

The inventor of Bitcoin has chosen a very particular method to put Bitcoins in circulation: mining. We are talking about “miner bitcoin” because just as to get out of the gold of a mine, it takes time and effort to generate Bitcoins. You can find more explanations in this article about bitcoin mining and all the information on how to mine bitcoin. Bitcoin mining is a procedure that secures all transactions in the cryptocurrency. This is manifested by “miners” who make their IT infrastructure available to the network so that it can verify transactions through a particularly complex calculation method.

The mining of Bitcoins is difficult because the competition between minors makes it possible to secure the Bitcoin network. Indeed, Bitcoin is a decentralized currency and to prevent someone from spamming the network, a “proof of work” system has been put in place.

The reward for bitcoin mining is halved every 4 years and will rise to 6.25 BTC in the summer of 2020. The last bitcoin will be mined in about 120 years. The minor also receives transaction fees which can be very juicy. In December 2017, some miners were able to get almost $ 100,000 per block thanks to transaction fees that had increased significantly due to too many transactions.

At the beginning of 2018, nearly 17 million Bitcoins have already been mined, knowing that there will never be more than 21,000,000 Bitcoins in circulation. 80% of Bitcoins are already in circulation.

Now, we are in August 2019 and it seems that 85% of the total supply (21 million BTC) has been mined; the current reward, 12.5 BTC per mined block, will then go to 6.25 BTC.

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