Produced 80% of the total number of bitcoins

On January 13, 2018 produced 16 800 000 BTC, and now the miners were left to produce only 4.2 million BTC. Thus, if 80% of all BTC has been mined, leaving only 20%.

When Satoshi Nakamoto launched the blockchain in 2009, he limited the number of bitcoins 21 million. Skeptics believe that theoretically there is a way to increase this number with help of a massive network attacks by superior numbers of nodes and can see. However, Bitcoin is approaching a decade, and no one was able to do this.

Algorithm Proof-of-Work (proof of work), created by Adam Beck and used by Satoshi in Bitcoin Protocol – economic measure, which makes it difficult to attack, making threats to network costly and time consuming. For the first time in the world of digital computing Satoshi introduced the object which cannot be copied or double-spend. And, at the same time, he limited his proposal.

Because there can be only 21 million bitcoins, the limited availability of cryptocurrency makes its acquisition all the more difficult. In most cases, when the asset is limited and resources for its production are reduced, the proposal causes the demand in the market. The vast majority of the holders of cryptocurrency believe that the shortage will make bitcoin more valuable over time.

Given current trends, the miners have to constantly increase computing power. Changes the reward for mining. So the miners who are receiving the reward of 12.5 BTC per block in two years (in 2020) will only get 6.25 BTC, and four years later, in 2024-m — 3.125 BTC per block. By this time, perhaps, the main income of the miners will be a fee for confirming transactions.

In addition, we should not forget that about 4 million BTC are considered to be irretrievably lost, and these losses will inevitably grow over time makes the remaining bitcoins more valuable. For many cryptocurrency investors it makes the invention of Satoshi’s most valuable digital asset.

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