How much bitcoins are in the world
Total bitcoins in the world:
There are a total of 21 million Bitcoins that can be mined in the world. This means that the supply of Bitcoin is only limited to 21 million. The total number of Bitcoins depends on the various factors of mining it. However, the total number of Bitcoins is simple to calculate. Once all the Bitcoins have been mined in the world, the total supply of Bitcoins will tap out.
Total Number of Bitcoins are in the world today?
Currently, around 18.5 million Bitcoins have been mined. This leaves less than 2.5 million that have yet to be mined into the circulation of cryptocurrency.
How many Bitcoins are left?
As well all know, there is a total of 21 million Bitcoins that can be mined. Out of this, almost 18.5 million Bitcoins have been mined till now. Moreover, this number does not tell the whole story. The total number of Bitcoins available in the world depends upon the number of sellers and buyers.
However, there have been stories that the number of Bitcoins available is decreasing day by day. The reason is simple; people hold their Bitcoins for a year or more. People don’t sell it or exchange it.
Bitcoin is like digital gold in many ways. As it’s a cryptocurrency, like gold, it can’t simply be created when you want. It requires time to extract or mine. Unlike, gold must be mined from the earth’s core, but Bitcoin must be mined by digital means. Bitcoin has a limited and finite supply. For this reason, there will only be 21 million Bitcoins produced.
However, there can only be a maximum of 21 million Bitcoins. Due to some reasons, people have lost their private keys or have died without giving their private key passwords to anybody. As a result, the actual amount of available Bitcoin in circulation could be millions less than 18.5 million Bitcoins.
Bitcoin mining process:
The Bitcoin mining process provides Bitcoin rewards to the miners, but the reward size is decreased by every 4 years to control the circulation of a new cryptocurrency. Once all Bitcoin has been mined, the miners will still be able to get the incentives as transactions fees. Besides, the amount of Bitcoin released by mining in each block is reduced by 50% every 4 years. This means that the rate at which Bitcoin are produced cuts in half after every four years. The first 18.5 million bitcoins were mined in the ten years since the initial launch of the Bitcoin. With only less than 3 million more coins left, it might seem that we are in the final stages of Bitcoin mining. This is a reality but in a limited sense. A large quantity of Bitcoin has been mined.
The Bitcoin mining process rewards miners upon successful verification of a block. As a result, the final Bitcoin is estimated to be mined until around the year 2140. However, it’s also possible that the Bitcoin network protocol will be changed seeing in the rise of mining and some other factors.