Bitcoin stock reached 18.5 million BTC, another 120 years for last 11.9%
Yesterday, the 18.5 millionth Bitcoin (BTC) was mined and put into circulation. This brought 88.1% of the maximum stock into the market.
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By now it may be known that Crypto Cash scam is scarce and that there are fewer and fewer new BTCs. Every four years, the block subsidy goes halfway. In the past 11 years, a total of 18.5 million BTCs have been mined in this way.
The previous milestone was reached in October 2019, when the 18 millionth BTC went over the counter. Since then, we have experienced a halving, so it takes ‘extra long’ to reach the 19 million. The last 11.9% of the 21 million will come into circulation over the next 120 years.
In a nutshell: if a miner generates a block according to the rules of protocol, it will receive a block reward consisting of a subsidy and a sum of transaction costs. In 2009, this subsidy was still 50 Bitcoin. That’s already halved three times, so today they only get 6.25 BTC per block.
As a result, there are only 900 new BTCs in circulation per day. A quick calculation shows that it still takes 555 days before we reach the 19 million. By then it will already be April 2022.
If you had been paying attention the past few days, you knew this was coming. The Bitcoin community was under the spell of #RunTheNumbers.
This is an initiative that was set up in response to the internet riot against the Ethereum community. The latter group was accused of not knowing how much Ether was in circulation.
In response, a lot of people went to block 650,000 at the same time to do a ‘synchronized and decentralized’ audit with their own node. At that time the stock (or supply) was still 18499823.37744111 BTC. By now that has passed the limit of 18.5 million BTC.
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