This morning, the 18-millionth of a bitcoin gemined. As a milestone, the first ever cryptocurrency!
Although it is 18 million, but the number is underlined, this event is how few bitcoin actually is. And how is scarce, bitcoin will eventually be the case, as there is a limit on the maximum number of bitcoin. This is more than 85% are already in circulation.
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What is scarce is a bitcoin, really?
Bitcoin has a limited circulation of 21 million. The figure of 21 million isn’t really relevant, it had just as well be 100 million, or any other arbitrary number may be. The most important thing is that there is a limit, and that the coins are not just reprinted, may be used.
This is the case with fiat currencies such as the euro and the us dollar. Bitcoin is set explicitly on this system by setting a limit on the number of coins to be set up.
Intake for the four-year period cut in half
In addition, the introduction of a new bitcoin every four years, will be reduced by half. To be precise, to be in the range of 210,000 transactieblokken. Every ten minutes there will be a new transactieblok is added to the blockchain of bitcoin.
In the first year, there were 50 bitcoin every ten minutes and is free. In the four years after that, a 25 bitcoin every ten minutes, and after that to 12.5 bitcoin, and as of next year, but, and 6.25 bitcoin every ten minutes. Take care of you, this will bring you to the 21 million bitcoin in 2140. This ensures that the stream of bitcoin is predictable.
Below, you can see that the trend in the number of bitcoin over the years. The blue line represents the number of bitcoins what is on the market. By 2019, are up to 85 percent of all bitcoin available. The orange line represents the inflow of new bitcoin back, this is, roughly speaking, to the four-year period was cut in half. Because of this, it is also the rate of inflation is getting lower and lower.
But there will be a maximum of 21 million bitcoin are in circulation?
Not really, research shows that 3.5 million of bitcoins have been lost. In the early days of bitcoin it was the store of your cryptomunten be a daunting task. Bitcoins stored with the original software, Bitcoin Core. Your password is stored in a file called wallet.this. Did you get that file you lost? You will simply not be on your bitcoin out.
There is a story in which an Englishman on the way to 7,500 bitcoin of which has been lost. He has been a hard drive is disposed of, and, therefore, no longer included in the walletbestand. The 7,500 bitcoin is now more than 54 million dollars.
Of these, 3.5 million in bitcoins, there are 2.5 million loss and a 1-million-still in the wallet, and the mysterious creator of bitcoin, Satoshi Nakamoto. This coin has never been done, it is expected that 1 million is lost.
In total, there are only 17.5 million ‘reach’ bitcoin is to.
What is scarce is 17.5 million of bitcoin?
In order to give you a perspective, the scarcity of 17.5 million in bitcoin, really? With 17.5 million of bitcoin, you can:
Every individual of 1 bitcoin which (7.100€), or
Each of the Chinese, with a 0.01 bitcoin (and a 71 million), or
The world’s population is only 0,002 bitcoin (14,20 euros), to give
There are 55 million millionaires worldwide, which means that they do not even have a half of a bitcoin may be in possession of