Summary
Home » Cryptocurrency » How many bitcoins are there and how many are left to mine? [UPDATED]
- Ayushi Abrol
- December 6, 2023
Summary
- There is a limited supply of bitcoins that can ever exist, with a total cap of 21 million.
- Currently, around 19 million bitcoins have been mined and are in circulation, leaving approximately 2 million left to be mined.
- bitcoins are created through a process called mining, which involves solving complex mathematical equations to verify transactions on the Blockchain network.
- The mining reward for each block of transactions is currently 6.25 bitcoins, but this amount is halved approximately every four years in a process called a halving event.
- The halving events are designed to reduce the rate at which new bitcoins are created and maintain the 21 million cap on the total supply.
- The last halving event occurred in May 2020, and the next one is expected to occur in 2024.
- After all bitcoins are mined, miners will no longer receive block rewards for verifying transactions, but will instead earn transaction fees.
- It's estimated that all bitcoins will be mined by the year 2140, at which point the last block reward will be released.
- If a Bitcoin is lost or destroyed, it cannot be recovered, which can lead to a decrease in the total supply of bitcoins and an increase in their overall value.
- The 21 million Bitcoin supply limit ensures that the cryptocurrency is deflationary in nature and sets it apart from fiat currencies, which are typically inflationary.
Bitcoin has gone a long way since its debut in 2009. However, what has stayed consistent is its hard limit, which was imposed by Satoshi Nakamoto, the alleged creator whose true identity is unknown.
In the source code, Nakamoto set the upper limit of 21 million bitcoins, implying that no more can be mined or circulated. Although Nakamoto did not explain establishing the limit of 21 million, many people consider it a significant benefit for the world’s oldest cryptocurrency. According to them, the cryptocurrency’s limited quantity maintains it scarce and keeps its price stable for years.
With the set limit comes the most sought-after questions “How many bitcoins have been mined and how many are left?” “How is the limited supply of bitcoins achieved?” “What happens after all the bitcoins are mined?” Read ahead to find the answers.
What is Bitcoin?
Bitcoin is a digital currency that allows for peer-to-peer transactions without the need for a central intermediary. It was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin is based on a decentralized system, which means it is not controlled by any government or financial institution.
The main feature that distinguishes Bitcoin from traditional currencies is that it operates on a peer-to-peer network, which means that there is no central authority regulating it. Transactions are processed and verified by a network of computers around the world, called nodes, and recorded on a digital ledger called the Blockchain.
The Blockchain is a decentralized and immutable ledger that allows for transparency, security, and verifiability of transactions. It contains a record of all the transactions ever made on the Bitcoin network and cannot be tampered with, making it a secure and transparent way to exchange value online.
Defining Bitcoin as a decentralized digital currency
Bitcoin’s decentralization is a fundamental aspect. It means there’s no central authority, like a bank or government, overseeing transactions. Instead, a vast network of computers, known as miners, validates and records transactions on a public ledger called the Blockchain.
The technology underpinning Bitcoin: Blockchain
The Blockchain is the backbone of Bitcoin. It’s a distributed ledger that records every transaction ever made with Bitcoin. This ledger is stored on thousands of computers worldwide, making it highly secure and resistant to tampering. Each “block” in the Blockchain contains a batch of transactions, and new blocks are added in a chronological order, forming a chain.
Brief History of Bitcoin
Bitcoin creation:
- Bitcoin was created in 2009.
- It was made by someone using the name Satoshi Nakamoto.
- The goal was to make a digital currency without a central authority.
Early users:
- Initially, Bitcoin was used mainly by computer enthusiasts and libertarians.
- They liked the idea of a decentralized currency.
Growing usage:
- Over time, more people started using Bitcoin for payments and investments.
- First real-world purchase:
- In 2010, Laszlo Hanyecz bought two pizzas for 10,000 bitcoins.
- Bitcoin had low value then, so it was seen as a novelty.
Rising value:
- Bitcoin’s value increased significantly.
- In 2013, it reached over $1,000 per Bitcoin.
Price crash:
- In late 2013, Bitcoin’s price crashed.
- It lost more than 80% of its value.
- Reasons included the Mt. Gox exchange collapse and regulatory concerns.
Continued growth:
- Despite the crash, Bitcoin gained more popularity.
- Many merchants now accept it as payment.
Current status:
- Today, thousands of businesses accept Bitcoin.
- The total value of all cryptocurrencies is over $2 trillion.
- Bitcoin experienced a significant surge in October 2023, rising from $27,967.51 to approximately $35,000. This surge was driven by various factors, including the anticipation of Bitcoin Exchange-Traded Funds (ETFs). Bitcoin’s rise was fueled by the anticipation of Exchange-Traded Funds (ETFs), positive regulatory developments, and increased accessibility through ETFs. Speculation around ETFs, institutional interest, and positive market sentiment, known as “Uptober,” played significant roles.
- Further, the $BTCETF token introduced a burn mechanism tied to spot Bitcoin ETF approval, promoting liquidity. Short liquidations, where traders betting against Bitcoin were forced to buy, contributed to a “short squeeze,” with around $94 million worth of short positions liquidated.
- There’s a growing likelihood of a spot Bitcoin ETF in the USA, potentially driving mainstream investment. Expert forecasts vary, with predictions ranging from $1 million by 2038 to $200,000 by the close of 2024.
- The surge was a mix of “panic buying” and optimism about potential spot Bitcoin ETF approvals. Understanding the complexities, including ETFs, regulatory progress, and market dynamics, is crucial for navigating the crypto landscape. Bitcoin’s journey is multifaceted, shaped by factors like short squeezes and institutional interest.
What changes have occurred in Bitcoin throughout time?
Economists are currently examining the impact of the hard limit, but on the surface, the price of Bitcoin has climbed dramatically since its inception more than a decade ago. For example, mining a block in 2009 generated 50 bitcoins (but the value was less than). A year later, someone bought two pizzas with 10,000 bitcoins.
The first ‘halving’ took place in 2012, four years after the cryptocurrency’s debut. After that, each block would only produce 25 bitcoins. However, by the end of 2013, one Bitcoin had risen to $200 (about Rs. 14,860).
In 2016, the second halving cut the number of bitcoins to 12.5 and then by half again four years later. As a result, each block mined in 2020 earned 6.25 bitcoins.
Historical Bitcoin Price Trends
- In 2009-2010, Bitcoin had negligible value, and its first real-world transaction involved 10,000 BTC exchanged for two pizzas.
- The year 2011 witnessed a notable spike to $29.6, accompanied by a significant crash.
- Subsequent to this, 2012 marked a period of steady growth, characterized by a gradual increase in the price of Bitcoin.
- The year 2013 was pivotal for Bitcoin, experiencing exponential growth and reaching a value exceeding $1,000. However, this period was also marked by extreme volatility.
- The years 2014-2015 were challenging for Bitcoin due to regulatory hurdles and the infamous Mt. Gox scandal, both impacting its price dynamics.
- In 2016, Bitcoin followed a gradual uptrend, concluding just below $1,000.
- The year 2017 emerged as a landmark period, witnessing an unprecedented surge in price, reaching nearly $20,000.
- However, 2018 marked a correction phase with a substantial 73% price drop.
- Throughout 2019, Bitcoin’s price displayed signs of stabilization, fluctuating within the range of $3,000 to $4,000.
- The year 2020 saw a temporary dip in price caused by the pandemic, but it rebounded, closing the year around $29,000. In 2021, Bitcoin achieved record highs but also encountered heightened volatility.
- The year 2022 faced a “crypto winter” characterized by a significant price decline influenced by various economic factors and regulatory actions.
- In 2023, Bitcoin started to recover, with a trading value over $38,000 as of November. This recovery indicated renewed investor confidence and interest in the cryptocurrency.
What exactly is the situation with Bitcoin’s supply?
Satoshi used a method in the source code to impose a hard cap, or maximum limit, on Bitcoin production of 21 million. The supply of bitcoins is replenished at a set rate of one block every ten minutes. The system design reduces the number of new bitcoins in each block by half every four years.
There are only about 2 million bitcoins left. Experts predict that the last bitcoins will be mined by 2140.
Why should you know how many bitcoins exist and how many are left to mine?
- Limited Supply: Bitcoin has a maximum supply of 21 million coins, and as of March 2023, more than 19 million have been mined.
- Remaining bitcoins: There are approximately 2 million bitcoins left to be mined.
- Impact on Value: Knowing this matters because it affects Bitcoin’s value and future price. When fewer bitcoins are available, demand can rise, increasing the price.
- Volatility: Decreased supply can lead to price volatility, but if demand doesn’t grow, prices may stay the same or drop.
- Security: Understanding the mining process is crucial for the security of the Bitcoin network.
- Informed Decisions: Knowing these facts can help you make better decisions when dealing with Bitcoin as an investment.
So, why is Bitcoin supply limited to 21 million?
As discussed earlier, Bitcoin has a maximum supply of 21 million. This was hard-coded into its protocol by Satoshi Nakamoto. This limit ensures that Bitcoin is scarce and cannot be manipulated like traditional currencies. As more bitcoins are mined, the rate at which new bitcoins are created is reduced over time through a process called halving.
The reason behind the 21 million Bitcoin limit lies in the concept of scarcity, which is a fundamental principle of economics. By limiting the supply of bitcoins, the value of each individual Bitcoin is theoretically increased. This is because as demand for Bitcoin increases, but the supply remains fixed, the price of Bitcoin is likely to increase as well. This is known as the law of supply and demand.
The limit of 21 million bitcoins also ensures that there is no risk of inflation. Inflation is the decrease in the purchasing power of a currency due to an increase in its supply. Governments can manipulate traditional currencies by printing more money, leading to inflation. But with Bitcoin, the supply is fixed, which makes it immune to inflationary pressures.
Bitcoin’s maximum supply of 21 million is also due to the mathematical rules set in the code. This limit is hardcoded into the protocol, meaning it cannot be changed by anyone, including the developers or miners. The maximum supply of 21 million bitcoins will be reached around the year 2140, after which no new bitcoins can be mined.
The 21 million Bitcoin limit also has important implications for the process of Bitcoin mining. Bitcoin mining is the process by which new bitcoins are created and added to the Blockchain, which is a decentralized ledger that records all Bitcoin transactions. As more bitcoins are mined, the rate at which new bitcoins are created is gradually reduced. This is because the Bitcoin protocol is designed to halve the mining reward every 210,000 blocks. The initial reward was 50 bitcoins per block, but this has been halved several times and is currently at 6.25 bitcoins per block. The reward will continue to be halved until it eventually reaches zero, at which point no more new bitcoins can be created.
The 21 million Bitcoin limit is also critical for network security. Bitcoin’s security is based on a process called proof-of-work, where miners compete to solve complex mathematical problems to add new blocks to the Blockchain. The limited supply of Bitcoin ensures that there will always be a reward for miners, which incentivizes them to continue mining and securing the network.
What happens when all 21 million bitcoins have been mined?
The short answer is that no more bitcoins can be created. This means that the supply of Bitcoin will be fixed at 21 million, and the value of Bitcoin will be determined entirely by supply and demand. However, the reality is likely to be more complex than this.
Bitcoin transactions will continue to be pooled and processed into blocks, and Bitcoin miners will be compensated, although most likely simply with transaction processing fees.
Bitcoin miners are expected to be affected by Bitcoin reaching its upper supply limit, but how they are affected depends partly on how Bitcoin matures as a cryptocurrency. For example, if the Bitcoin Blockchain processes a large number of transactions in 2140, Bitcoin miners may still be able to profit solely from transaction processing fees.
Even with low transaction volumes and the removal of block rewards, miners can still earn in 2140. This is possible only if Bitcoin is primarily used as a store of value rather than for daily transactions. Miners can charge hefty transaction fees to process big-value transactions or vast batches of transactions, with more efficient “layer 2” Blockchains like the Lightning Network assisting daily Bitcoin spending.
However, if Bitcoin mining becomes unprofitable in the absence of block rewards, the following undesirable consequences may occur:
- Miners may create cartels in an attempt to gain control of mining resources and command more outstanding transaction fees.
- Selfish mining occurs when miners work together to keep new legitimate blocks hidden and then release them as orphan blocks that the Bitcoin network has not confirmed. This method can lengthen block processing periods and ensure that when new blocks are finally issued to the Blockchain, they are accompanied by hefty fees.
What will the network’s response be?
Bitcoin’s network is an essential aspect. Any cryptocurrency is built on a distributed ledger paradigm.
If the network’s transaction volume grows in the future, transaction speeds may slow. The architecture of Bitcoin is more concerned with accuracy and integrity than with speed.
There’s a potential that Bitcoin will become a reserve asset if the quantity of transactions in the network declines. As a result, small retail traders will be pushed out, and prominent institutional players will take their place, perhaps raising transaction fees and making trading more costly.
How is the limited supply of bitcoins achieved?
Bitcoin’s limited supply is a unique feature that sets it apart from traditional fiat currencies. The limited supply is enforced by the Bitcoin protocol, which specifies that only 21 million bitcoins will ever exist. Bitcoin’s limited supply is enforced through a combination of mining and the Bitcoin halving process. Bitcoin mining allows the creation of new bitcoins.
Mining is a process that involves using powerful computers to solve complex mathematical problems, which are used to verify and add new transactions to the Bitcoin Blockchain. When a miner successfully solves a problem, they are rewarded with a certain number of bitcoins, which are added to the Bitcoin supply. The reward for mining a block of Bitcoin transactions started at 50 bitcoins and is halved approximately every four years through a process called Bitcoin halving.
The first Bitcoin halving occurred in November 2012, reducing the mining reward from 50 bitcoins to 25 bitcoins. The second halving occurred in July 2016, reducing the reward from 25 bitcoins to 12.5 bitcoins. The most recent halving took place in May 2020, reducing the reward from 12.5 bitcoins to 6.25 bitcoins.
The halving process is an essential part of the Bitcoin protocol, as it helps to maintain a predictable supply of bitcoins and prevent inflation. By reducing the mining reward over time, the rate at which new bitcoins are added to the network slows down, eventually reaching zero once the total supply of 21 million bitcoins is reached.
It is worth noting that the actual number of bitcoins in circulation is currently lower than the total supply of 21 million. This is because some bitcoins have been lost due to people losing access to their private keys, which are necessary to access and spend bitcoins. Estimates suggest that around 4 million bitcoins have been lost, reducing the total supply to around 17 million.
Bitcoin Supply Mechanics
Genesis Block and Satoshi’s Vision
Bitcoin’s journey began on January 3, 2009, with the creation of the Genesis block by its mysterious creator, Satoshi Nakamoto. This inaugural block, known as “Block 0,” marked the birth of the Bitcoin Blockchain. What made it unique was that it contained no preceding blocks, making it the foundation upon which the entire Blockchain rests.
Satoshi Nakamoto’s vision was clear: to create a peer-to-peer electronic cash system that would operate independently of central authorities, like banks and governments. To achieve this, Satoshi introduced a groundbreaking concept – the Blockchain. This public ledger records all Bitcoin transactions, ensuring transparency and security.
A Brief Look at the Mining Process and Its Significance
Mining is at the heart of Bitcoin’s supply mechanics. Unlike traditional currencies that are printed by central banks, bitcoins are mined by individuals and groups known as miners. These miners perform complex mathematical calculations to validate and record transactions on the Blockchain.
The mining process serves two crucial purposes. First, it secures the network by preventing double-spending and fraud. Miners must compete to solve mathematical puzzles, and the first to solve it gets the privilege of adding a new block to the Blockchain. This competition ensures the honesty and integrity of the system.
Second, mining is the mechanism through which new bitcoins are created and introduced into circulation. Approximately every ten minutes, a miner successfully adds a block to the Blockchain and is rewarded with a set number of newly minted bitcoins. This process, known as the “block reward,” reduces over time through a programmed halving event, ultimately capping the total supply at 21 million bitcoins.
The Crucial Role of Cryptographic Puzzles in Securing the Network
Bitcoin’s security hinges on cryptographic puzzles. Transactions on the Bitcoin network are protected by advanced cryptographic algorithms that ensure their authenticity and privacy. Public and private keys are used to sign and verify transactions, making it nearly impossible for unauthorized parties to alter the transaction history.
Additionally, the proof-of-work (PoW) consensus algorithm, which involves solving complex cryptographic puzzles, ensures network security. Miners must invest computational power to find a solution, making it prohibitively expensive for malicious actors to manipulate the Blockchain.
Factors affecting the number of bitcoins left to mine
Mining Difficulty: What is it and how is it adjusted?
Before we understand how mining difficulty is adjusted, it is important to understand how is Bitcoin mined? Bitcoin mining is a critical process that involves using powerful computers to solve complex mathematical problems. These problems are used to verify and add new transactions to the Bitcoin Blockchain, and the process of solving them is called mining. Here is a simplified explanation of how Bitcoin is mined?
Transactions: People all around the world make transactions with Bitcoin. These transactions are like the digital coins changing hands.
Block: Bitcoin transactions are grouped together into a “block.” Think of it as a digital container that holds these transactions.
Miners: Miners are like the digital workers who make this whole process happen. They use powerful computers to solve complex math problems. To understand “how a Bitcoin is mined?” it is important to understand how these miners solve complex puzzles to mine a Bitcoin.
Proof of Work: The math problems or puzzles that the miners solve require a lot of computing power. This whole process is called “Proof of Work.” It is like a race to solve the problem first.
Adding to the Blockchain: When a miner solves the problem, they get to add the new block of transactions to the “Blockchain.” The Blockchain records all Bitcoin transactions ever made. It means that you can find the record of a mined Bitcoin at any time on the Blockchain.
Reward: As a reward for their hard work, the miner who solves the problem first gets some new bitcoins. The miner also gets transaction fees from the transactions in the block they added.
Repeat: This process keeps repeating, about every 10 minutes. New blocks are added to the Blockchain, more bitcoins are created, and the network keeps running.
However, as more miners join the network, the difficulty of solving these problems increases, making it more challenging to mine new bitcoins. This is where the concept of mining difficulty comes into play.
Mining difficulty refers to the difficulty level of solving the mathematical problems necessary to mine new bitcoins. It is measured using a metric called the “difficulty target,” which is a 256-bit number that the miners must try to match. The lower the difficulty target, the harder it is to mine new bitcoins.
The process of adjusting the mining difficulty is known as the difficulty adjustment algorithm (DAA). The DAA is designed to ensure that the average time between blocks remains at 10 minutes, regardless of changes in the hash rate. The Bitcoin network achieves this by increasing or decreasing the difficulty target by a factor of 4, depending on whether the previous 2016 blocks were mined too quickly or too slowly.
This adjustment is done automatically by the Bitcoin network to maintain a constant rate of new Bitcoin production. The adjustment is based on the total computing power of the Bitcoin network, or the network hash rate. If the hash rate increases, the difficulty target is increased, making it harder to mine new bitcoins. Conversely, if the hash rate decreases, the difficulty target is decreased, making it easier to mine new bitcoins.
The adjustment of mining difficulty is crucial to the functioning of the Bitcoin network. If the difficulty level remains too high, it could discourage miners from continuing to mine bitcoins, as the cost of electricity and hardware would be too high relative to the mining rewards. On the other hand, if the difficulty level remains too low, it could result in an oversupply of new bitcoins, which could lead to inflation and a loss of value for the currency.
The recent increase in the mining difficulty is an indication of the growing popularity and success of Bitcoin. As more miners join the network, the difficulty level increases, making it more challenging to mine new bitcoins. However, this also means that the network is becoming more secure, as it becomes harder to conduct a 51% attack on the network.
Bitcoin’s mining difficulty rose by nearly 5.56% in 2022, hitting a lifetime high of 30 trillion. This increase in difficulty means that it takes more computational power to validate a block of transactions and earn the associated reward of newly mined bitcoins.
Bitcoin mining difficulty has increased by more than 20,000 times since the first block was mined in 2009, which demonstrates the exponential growth of the network’s hash rate. This growth has been fueled by the development of specialized hardware known as application-specific integrated circuits (ASICs), which are optimized for the specific computations required for Bitcoin mining.
Halving events and their impact on the mining reward
As we already discussed, halving events are programmed into the Bitcoin protocol to control the supply of bitcoins. However, these events have a significant impact on mining rewards. When a halving event occurs, the reward that miners receive is cut in half, which reduces their profitability. This can cause some miners to stop mining, especially those with outdated equipment that is not efficient enough to mine profitably.
This reduction in mining rewards can have both positive and negative effects on the mining industry and the Bitcoin network as a whole.
On the negative side, halving events can cause some miners to stop mining, particularly those with older equipment that is not efficient enough to mine profitably. This is because the cost of mining, including electricity and hardware, can exceed the value of the rewards received, making it unprofitable to continue mining. This can lead to a reduction in the overall mining power of the network, which can in turn slow down transaction processing times and make the network less secure.
However, on the positive side, halving events can also lead to an increase in the price of Bitcoin. This is because halving events reduce the supply of new bitcoins, and if demand for the cryptocurrency remains constant, the price should increase to compensate for the reduced supply. This increase in price can offset the reduction in mining rewards, and some miners may continue to mine even after a halving event.
In fact, historical data shows that halving events have often coincided with significant increases in the price of Bitcoin. For example, the first halving event in 2012 was followed by a year-long bull run that saw the price of Bitcoin increase. Similarly, the second halving event in 2016 was followed by another bull run.
The impact of halving events on the price of Bitcoin can also be influenced by a variety of external factors, such as changes in regulatory policies, technological developments, and global economic conditions. Therefore, while halving events can have a significant impact on the Bitcoin network, it’s important to consider a range of factors when evaluating their impact on mining rewards and the price of Bitcoin.
The Role of “Coinbase” Transactions
In the world of Bitcoin, the term “coinbase” may not refer to a popular cryptocurrency exchange but instead holds a crucial role in the creation of new bitcoins and, consequently, the overall Bitcoin supply.
A coinbase transaction is the initial transaction in every newly mined Bitcoin block. Its primary purpose is to reward the miner who successfully adds a new block to the Blockchain. In this transaction, miners receive newly created bitcoins as a reward for their efforts in securing and maintaining the Bitcoin network.
The significance of coinbase transactions lies in their role as the genesis of fresh bitcoins. When miners solve complex mathematical puzzles to validate transactions and create a new block, they earn this reward. Initially, during Bitcoin’s early days, the reward was substantial, starting at 50 bitcoins per block.
However, Bitcoin has a built-in mechanism to control its supply and maintain scarcity – the halving process. Approximately every four years, the reward in coinbase transactions is halved. This means that the number of new bitcoins created in each block decreases by 50%.
For instance, the first halving occurred in November 2012, reducing the reward from 50 to 25 bitcoins. Subsequent halvings in 2016 and 2020 further reduced it to 12.5 and 6.25 bitcoins, respectively. This process will continue until the maximum supply cap of 21 million bitcoins is reached, estimated around the year 2140.
The connection between coinbase transactions and Bitcoin’s total supply is direct. The newly created bitcoins in each coinbase transaction contribute to the growing supply. Over time, as halving events occur, the rate at which new bitcoins enter circulation decreases significantly.
Analyzing the historical effects of halving
The historical data on Bitcoin halving events provides valuable insights into their impact on miner incentives and the cryptocurrency’s price.
When a halving occurs, miners face a reduction in their income since they receive fewer bitcoins for their efforts. This might lead to some miners exiting the network, especially those with high operational costs. However, it’s important to note that Bitcoin’s price tends to experience upward pressure in the months leading up to and following a halving event. This price increase can offset the reduced block rewards for miners.
Miners who remain in the network after a halving often do so with the expectation that the higher Bitcoin price will compensate for the reduced rewards. This belief in the potential for future price appreciation is a key factor in sustaining the security and stability of the Bitcoin network.
Investors and traders also closely monitor Bitcoin halving events. Historical data shows that these events have historically been associated with bull markets and significant price rallies. This phenomenon can be attributed to the reduced supply of new bitcoins entering the market, which can create scarcity and drive up demand.
To understand the impact of Bitcoin halving events on miner incentives and the cryptocurrency’s price, let’s examine the latest statistics and facts:
Miner Incentives
We have already answered the question “how is bitcoin mined?” Now let’s talk about the miner incentives:
- After the first halving in November 2012, the Bitcoin hash rate experienced a 30% decline. However, it rebounded swiftly within a few months and proceeded to reach new all-time highs in the subsequent years.
- Following the second halving in July 2016, a similar pattern emerged, with the Bitcoin hash rate decreasing by approximately 15%. Yet, just as before, it bounced back within a few months, continuing its upward trajectory.
- After the third halving in May 2020, there was a temporary drop of about 20% in the Bitcoin hash rate. Remarkably, recovery was even faster than in previous halving events, and the hash rate reached new highs within a matter of weeks.
Bitcoin’s Price
- In the year following the first halving, Bitcoin’s price surged by an astonishing 1,000% or more. This dramatic increase captured the attention of both investors and enthusiasts alike.
- Following the second halving, which took place in July 2016, Bitcoin’s price saw an even more remarkable increase, exceeding 1,500% in the year that followed. This meteoric rise solidified Bitcoin’s status as a digital asset with immense potential.
- After the third halving in May 2020, Bitcoin’s price surged by over 500% within a year. This robust performance underscored the continued interest and confidence in the cryptocurrency.
Projected Timelines for Mining the Remaining bitcoins
Understanding the timeline for mining the remaining bitcoins requires a closer look at the current rate of new Bitcoin creation through mining and the upcoming halving events.
As of now, the rate of new Bitcoin creation is set at 6.25 BTC per block, which equates to approximately 1 block every 10 minutes. This means that roughly 900 new BTC are generated daily. However, this rate is not static.
Bitcoin’s ingenious design incorporates a system of halving events that occur approximately every 210,000 blocks, or roughly every four years. The next anticipated halving is scheduled for April 2024. During this event, the block reward will be slashed in half, reducing it to 3.125 BTC.
With a total cap of 21 million bitcoins, these halving events play a pivotal role in shaping the timeline for mining the remaining bitcoins. They lead to a gradual reduction in the rate of new coin creation, ultimately approaching zero.
So, when can we expect the last Bitcoin to be mined? While pinpointing an exact date is impossible, it is estimated that all 21 million bitcoins will be mined by the year 2140. This extended timeline underscores the deliberate pace at which new bitcoins are introduced into circulation, reinforcing the cryptocurrency’s scarcity and long-term value.
It’s worth noting that the profitability of Bitcoin mining can fluctuate based on several factors. These include the price of Bitcoin itself, the cost of electricity required for mining, and the ever-changing mining difficulty. Miners need to navigate these variables as they participate in the network, making it a dynamic and competitive endeavor.
Bitcoin Distribution Among Holders
Bitcoin’s distribution started with its creator, Satoshi Nakamoto, who mined the first bitcoins. It is estimated that Nakamoto holds around 1 million bitcoins, but their identity remains a mystery. This initial accumulation significantly impacts the distribution. The distribution of Bitcoin among its holders has long been a subject of scrutiny and analysis, with ongoing debates about the extent of decentralization in the cryptocurrency’s ownership landscape. Let’s dive into the latest data to gain a deeper understanding.
Top 100 Addresses: A Dominant Force
As of September 26, 2023, Blockchain data sourced from BitInfoCharts reveals that the top 100 richest Bitcoin addresses collectively control a substantial 58.21% of the total Bitcoin supply. This concentration highlights that a mere 0.01% of Bitcoin holders possess nearly 60% of the entire BTC supply.
However, it’s crucial to exercise caution when interpreting this data. Not all of these top addresses necessarily belong to individual whales. Some may be associated with cryptocurrency exchanges, custodians, or institutional entities. Additionally, certain addresses may remain dormant or inactive, which can skew the distribution perception.
Beyond the Top 100: A More Decentralized Picture
When we venture beyond the top 100 addresses, the distribution of Bitcoin exhibits signs of increasing decentralization. The subsequent tier of 10,000 addresses collectively holds approximately 24% of the Bitcoin supply. Moving further down the ladder, the next 100,000 addresses control roughly 11% of the cryptocurrency’s total supply.
The Overall Landscape
In sum, the distribution of Bitcoin appears to be gradually moving toward a more decentralized pattern over time. Nonetheless, it’s evident that a significant proportion of Bitcoin remains concentrated in the hands of a relatively small number of large holders.
Here’s a breakdown of the Bitcoin distribution among holders as of September 26, 2023:
- Top 100 Addresses: 58.21%
- Next 10,000 Addresses: 24%
- Next 100,000 Addresses: 11%
- Remaining Addresses: 7%
This data reflects the ongoing evolution of Bitcoin’s distribution landscape, highlighting both its potential for decentralization and the presence of notable concentrations in the hands of key stakeholders.
The influence of Bitcoin whales and their impact on market sentiment
Bitcoin whales are large holders of the cryptocurrency who possess the potential to impact the market in substantial ways. Their actions, such as buying or selling large quantities of Bitcoin, can lead to price volatility and affect other investors’ sentiment.
- Market Volatility: Bitcoin whales, due to their substantial holdings, have the power to induce market volatility. When a whale decides to execute a large sell order, it can trigger a significant drop in the cryptocurrency’s price. Conversely, a substantial buy order can lead to rapid price increases. This volatility can create both opportunities and risks for other investors.
- Fear and Greed: Bitcoin whales’ actions often fuel emotional responses among smaller investors. When whales make significant moves, it can generate fear or greed in the market. For example, a sudden sell-off by a whale may cause panic selling among retail investors, resulting in a price crash. On the flip side, a whale’s strategic buying can spark optimism and drive up prices as others rush to join the rally.
- Long-Term Impact: Some Bitcoin whales adopt a long-term perspective and hold their assets for extended periods. These “HODLers” (a term derived from a misspelling of “hold”) contribute to the cryptocurrency’s overall stability. Their willingness to weather short-term fluctuations can counterbalance the influence of more short-term-oriented whales, providing a degree of equilibrium to the market.
Challenges in Calculating Supply
Calculating Bitcoin’s supply isn’t as straightforward as it may seem. The decentralized nature of Bitcoin poses several challenges in this regard.
Bitcoin operates on a decentralized ledger, which means there is no central authority or database that stores all supply-related data. Instead, every transaction and newly mined Bitcoin is recorded on a public ledger known as the Blockchain. While this decentralization is one of Bitcoin’s strengths, it also makes it challenging to maintain an accurate count of the total supply.
Another factor to consider is Bitcoin halving events. Approximately every four years, the rewards for mining new bitcoins are halved. This event reduces the rate at which new bitcoins are created, making it crucial for accurate supply calculations.
Factors affecting the accuracy of supply data
Several factors influence the accuracy of data related to Bitcoin’s supply. These include:
- Mining Rewards: The process of mining new bitcoins and receiving rewards is fundamental to Bitcoin’s supply. Miners secure the network and are rewarded with newly created bitcoins and transaction fees. Changes in mining activity can impact the supply rate.
- Transaction Fees: Transaction fees play a role in miners’ incentives. When the demand for Bitcoin transactions is high, miners can earn more from fees, influencing their decision to continue mining.
- Lost bitcoins: Perhaps one of the most intriguing factors is the concept of lost bitcoins. Over the years, many bitcoins have been lost due to forgotten passwords, misplaced wallets, or other reasons. These lost bitcoins are unrecoverable, affecting the overall supply.
- Network Forks: Occasionally, the Bitcoin network experiences forks, resulting in the creation of new chains (like Bitcoin Cash or Bitcoin SV). These forks can lead to discrepancies in reporting supply data.
The difficulty of tracking lost bitcoins and their implications
Lost bitcoins, while unfortunate for their owners, have significant implications for the cryptocurrency ecosystem. As mentioned earlier, these lost coins are irrevocably removed from circulation. Estimates suggest that a substantial number of bitcoins may never be accessed again. This scarcity can drive up the value of existing bitcoins and has implications for long-term investment strategies.
Transparency is paramount in reporting Bitcoin’s supply. Various Blockchain explorers and data providers offer real-time information about the total supply, circulating supply, and more. This transparency builds trust among users and investors, ensuring they can make informed decisions.
Environmental Concerns
Bitcoin mining is the process of verifying and adding new Bitcoin transactions to the Blockchain. This task is accomplished by powerful computers that solve complex mathematical problems. However, this process consumes a substantial amount of energy due to the constant operation of these computers and their significant electricity usage.
Facts and Stats About Bitcoin’s Energy Consumption:
- Bitcoin mining consumes approximately 110 terawatt-hours (TWh) of electricity per year. To put this into perspective, it surpasses the annual electricity consumption of many countries, including Norway and the Netherlands.
- Bitcoin mining contributes to about 0.6% of the world’s total electricity consumption.
- It’s estimated that Bitcoin mining generates around 65 megatons of carbon dioxide emissions each year, which is comparable to the annual emissions of Greece.
- The energy consumption of Bitcoin mining has been on a rapid rise. In 2021, it consumed about 62 TWh of electricity, signifying a more than 70% increase in just one year.
Why Bitcoin Mining Consumes So Much Energy:
The energy-intensive nature of Bitcoin mining can be attributed to the Bitcoin network’s design. It relies on a proof-of-work consensus mechanism where miners compete to solve complex mathematical problems. The first miner to successfully solve the problem is granted the opportunity to add the next block to the Blockchain and receives a block reward in Bitcoin.
The difficulty of these mathematical problems is adjusted periodically to maintain a consistent block-adding rate. Consequently, as more miners join the network, the problems become more challenging, demanding even greater energy consumption to mine Bitcoin.
Efforts to Reduce Bitcoin Mining’s Energy Consumption
Several initiatives are underway to mitigate the energy consumption associated with Bitcoin mining:
- Hydropower: Several Bitcoin miners are now harnessing the power of hydropower, a renewable energy source that leaves no carbon footprint. For instance, Hydro66, a Bitcoin mining company, relies on hydropower sourced from the Columbia River in the United States to fuel its mining operations.
- Solar Power: Solar power has also gained popularity among Bitcoin miners due to its environmental benefits. Soluna, another Bitcoin mining company, employs solar power to energize its mining operations, located in Texas, USA.
- Wind Power: Wind power is yet another renewable energy source making strides in the Bitcoin mining industry. Bitfarms, a Bitcoin mining company, utilizes wind power to sustain its mining operations based in Canada.
- Geothermal Power: Geothermal power taps into the Earth’s natural heat to generate electricity. Genesis Mining, a Bitcoin mining company located in Iceland, effectively employs geothermal power to reduce its carbon footprint.
- Immersion Cooling: Immersion cooling has emerged as a technique to enhance the energy efficiency of Bitcoin mining hardware. This process submerges mining equipment in a dielectric fluid, such as mineral oil, to improve cooling efficiency and reduce energy consumption. Compass Mining, a Bitcoin mining company located in Texas, is a notable example implementing immersion cooling for their mining hardware.
Regulatory Considerations
Government Regulations and Policies Related to Bitcoin Supply
Governments worldwide have grappled with how to classify and regulate Bitcoin. Some view it as a currency, others as property, and still others as a commodity. These distinctions matter, as they affect taxation, reporting, and legality.
- Classification Variability: Governments worldwide classify Bitcoin differently. For example, Japan recognizes it as legal tender, while India has considered banning it altogether. This lack of uniformity leads to varying regulations and tax treatments.
- AML and KYC Regulations: Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations require exchanges and businesses dealing with Bitcoin to verify user identities. These regulations aim to prevent illicit activities but can impede user privacy.
- Licensing Requirements: Some countries, like the United States, require cryptocurrency exchanges and wallet providers to obtain licenses. Failure to comply can result in legal consequences.
Legal Implications for Miners and Bitcoin Holders
Mining and holding Bitcoin also come with legal considerations. Miners, who verify transactions and secure the network, may need to register as businesses and comply with local regulations. For Bitcoin holders, the key concern is legal ownership.
- Mining Regulations: Miners often consume substantial electricity. In some regions, governments impose regulations to ensure energy conservation and prevent adverse environmental impacts.
- Tax Reporting: Bitcoin transactions can trigger capital gains taxes. Holders must track and report transactions accurately to avoid legal trouble and potential fines.
- Asset Forfeiture Laws: In cases of illegal activities involving Bitcoin, authorities may seize assets. This underscores the importance of understanding the legal nature of Bitcoin holdings.
Exploring Potential Scenarios for Future Regulatory Developments
As Bitcoin’s popularity continues to grow, governments are actively shaping their regulatory stances. Here are a few potential scenarios:
- Global Collaboration: Governments might work together to establish a global framework for cryptocurrency regulation, simplifying compliance for businesses and users.
- Privacy Concerns: As governments aim for increased transparency, there may be debates about how much privacy users should retain in their cryptocurrency transactions.
- Central Bank Digital Currencies (CBDCs): The development of CBDCs could impact Bitcoin’s role in the global financial system. Regulatory changes related to CBDCs may influence Bitcoin’s future usage.
How Artificial Intelligence is Set to Shape the Future of Bitcoin and Crypto?
Artificial Intelligence or AI is already playing a crucial role in the world of Bitcoin and cryptocurrency. Here’s how:
Predictive Analytics for Bitcoin Trading:
- AI-driven algorithms and machine learning models analyze market trends, historical price data, trading volumes, and other financial indicators related to Bitcoin.
- These AI models help individual traders and institutional investors make more informed decisions regarding when to buy, sell, or hold Bitcoin, relying on predictions of future price movements.
- By processing vast amounts of data and identifying patterns that may not be immediately apparent to humans, AI tools offer a competitive advantage in the highly volatile cryptocurrency market.
Fraud Detection and Security:
- AI algorithms are used to monitor Blockchain transactions and detect unusual patterns, helping to prevent fraud and secure crypto assets.
- For example, major crypto security companies like Chainalysis use AI to monitor on-chain activities for signs of illegal transactions.
Smart Contract Development and Optimization:
- AI can analyze vast amounts of Blockchain data to improve the development of smart contracts, making them more efficient and less prone to errors.
Improved Blockchain Efficiency:
- AI can optimize Blockchain operations, reducing the energy consumption and environmental impact of Blockchain technologies.
- This includes AI-driven solutions to create sustainable Blockchain networks.
Regulatory Compliance and Monitoring:
- AI assists in ensuring compliance with evolving regulations in the Blockchain and crypto space by automating the monitoring and reporting processes.
Tokenization and NFTs:
- AI is being leveraged in the creation of AI-powered non-fungible tokens (NFTs) and in tokenizing various assets in the Blockchain.
- For instance, projects like Alethea.ai allow for the creation of NFTs with embedded AI personalities.
Blockchain Data Analysis:
- AI analyzes Blockchain transaction data to gain insights into user behavior, network performance, and potential security threats.
- This helps in understanding and enhancing the Blockchain system.
Wondering why you should go through our guide to Artificial Intelligence and get an AI certification? We discussed the role of AI in shaping the future of Bitcoin and cryptocurrencies. The rise of artificial intelligence cryptocurrencies proves it further. So, if you want to shine in today’s crypto world, going through our AI guide is not just an option; it’s a strategic necessity. The cryptocurrency landscape is marked by constant fluctuations, complex technologies, and an ever-evolving regulatory environment.
And an AI certification equips you with the essential skills to decipher intricate algorithms, understand market trends, and make informed decisions. It serves as a compass in the volatile crypto space, helping you navigate through the uncertainties with a data-driven approach. The intricate interplay of artificial intelligence and cryptocurrency is undeniable, and a subtle mastery of both realms positions you as a discerning player. So don’t just adapt, get ready to strategically align yourself with the tools that decode the language of the crypto world.
Why Should You Consider Getting a Bitcoin Certification from the Blockchain Council?
While at the Blockchain Council, we don’t endorse or promote crypto trading, we recognize the significance of understanding Blockchain technology and Bitcoin. We discourage speculative trading but we strongly encourage investing in education. Bitcoin certification is a tool for building a solid foundation, gaining recognition in the industry, and making informed decisions.
Missing out on certification may not only limit your professional growth but could also expose you to unnecessary risks in the rapidly evolving world of digital finance. In a landscape where knowledge is power, a commitment to education becomes a strategic advantage.
Bitcoin certification offers a deeper understanding, acting as a counterbalance to the speculative nature of the market. It’s not about discouraging trading; it’s about advocating for a well-rounded approach that combines market insights with a solid foundation of knowledge.
In a rapidly evolving digital era, being certified in Bitcoin is a professional advantage. It indicates to employers that you have a deep understanding of Blockchain intricacies, positioning you as a valuable asset in the industry. Ignoring Bitcoin certification might limit your opportunities to contribute to cutting-edge projects or take on roles that demand expertise in emerging technologies.
Certification is also a practical shield in the realm of digital finance. It not only imparts theoretical knowledge but also provides practical insights, reducing vulnerabilities to security threats and ensuring safer engagement with Blockchain technology.
As the Blockchain industry grows, certified professionals are increasingly in demand. Overlooking certification might inadvertently narrow your career path, as employers actively seek individuals with the knowledge and skills to navigate the complexities of this evolving field. So which Bitcoin certifications will help you make the most of your assets? Let’s find out:
Conclusion
In the year 2140, will Bitcoin work similarly to cash or gold bars? Bitcoin’s environment is still evolving, so it’s feasible, if not likely, that it will continue to evolve over the next few decades. However, no additional bitcoins will be released after the 21-million coin cap is met, regardless of how Bitcoin evolves. The impact of reaching this supply limit is most likely to be felt by Bitcoin miners; however, the Bitcoin investors could suffer as well.
If you’re still in the fog about Bitcoin and don’t know where to begin, check for Bitcoin professionals. However, if you aspire to become a professional then you can enroll into some cryptocurrency course. Blockchain council has got all the in-demand Blockchain related certification courses for you.
- The 21 million Bitcoin supply limit is significant because it ensures that Bitcoin is deflationary.
- This means Bitcoin’s value is likely to increase over time as the supply decreases.
- It distinguishes Bitcoin from fiat currencies, which are usually inflationary and lose value over time.
- Once all bitcoins are mined, miners won’t receive block rewards for verifying transactions.
- Instead, they’ll earn transaction fees, which are currently a small part of total mining rewards.
- Transaction fees could rise significantly with increasing demand for Bitcoin transactions.
- As of March 2023, there are over 19 million bitcoins in circulation, out of a total supply of 21 million.
- This means that around 90% of all bitcoins have already been mined.
- How long it takes to mine one Bitcoin is determined by the size of the block reward or how many new bitcoins are paid to crypto miners for generating a new Bitcoin block.
- Every 10 minutes, a new block is generated, with the current block reward of 6.25 bitcoins.
- When the Bitcoin supply reaches 21 million, it will abolish mining fees.
- Instead of a mix of block rewards and transaction fees, miners are more likely to receive money solely from transaction processing fees.
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Cryptocurrency has gained significant attention in recent years as a disruptive technology that has the potential to revolutionize the financial industry. But what exactly is
Why integrating Blockchain and ERP is a Great Idea
The ERP software centralizes all business data, empowering businesses to fully control the inner processes and make informed choices for the future. In addition, all
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Reasons Behind Bitcoin’s Meteoric Rise
In recent months, Bitcoin and the cryptocurrency space, in general, have received a lot of attention because of the explosive gains in price that cryptocurrencies
What Is Big Data and Why You Need a Professional To Analyze It
Since launching a startup has gotten much simpler these days than ever before, more and more young and ambitious students are trying themselves in business.
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How Blockchain Can Be Used In Smart Wallets & How It Works?
Many use cases and applications are now made which use blockchain technology, with several recent implementations and use cases described in ourprevious articles. All implementations
Can Blockchain Revolutionize the Digital Signage Industry?
We all are familiar with bitcoin, ETH Ethereum, ripple and other decentralized cryptocurrencies. Blockchain is the automated digital keeper that includes every business ever executed
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Franklin Templeton Is Willing To Hire Research Analyst And Crypto Trader
The famous company Franklin Templeton is a specialized unit with the aim of investing in the cryptocurrency space and for this reason, the company is
How to Become a Cryptocurrency Developer?
How to Become a Cryptocurrency Developer? Summary Cryptocurrency is a digital asset designed to work as a medium of exchange. It uses cryptography to secure
The Monsoon Session of Parliament in India to uphold discussions on crypto bill
Finally, as a token of relief for the crypto businesses in India, the note for the much awaited crypto bill has been finalised, according to
Dogecoin Replaced XRP As The Fourth-Largest Coin
Dogecoin, which was created as a joke back in 2013 has reached a new record of around $0.43 early Monday. According to the reports, the
Cryptocurrency Exchange Coinbase is Permitting Traders and Investors to Purchase Stocks
According to the latest announcement, Coinbase, an American cryptocurrency exchange platform, is all set to go live within two weeks, allowing investors and traders to
Swiss Government Trying to Drive Blockchain and Cryptocurrency Innovation
According to the recent announcement, Swiss Parliamentarians have amended several laws ranging from company bankruptcy to securities trading. Switzerland has amended its legal code in
5 Best Cryptocurrency APIs for Developers
Leveraging support for a global, decentralized, and liberal economy at the upfront, cryptocurrencies have come a long way from the mere idea of a paperless
El Salvador set to make history by becoming the first country to adopt Bitcoin as legal tender
El Salvador, a country in Central America, is planning to introduce a ruling with an intent to emerge as the world’s very first sovereign government
Investing Tips For Cryptocurrency Newcomers
Anytime you are a new entrant in a particular investing space or asset class, there are some things you should be doing to ensure you
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Top 5 Uses of Cryptocurrencies
If you are wondering what are the uses of cryptocurrencies across various domains, you have landed on the right page. Let’s explore some of the
A 3-Year in Ripple Price, Seeing a 55% Surge
According to the latest announcement, the XRP price surges 55%, as the sixth-ranked cryptocurrency by market capitalization, has renewed its aim on the creation of
Crypto Trading & PayPal Paxos Partnership- All You Need to Know
This article talks about crypto trading and its growth and details the partnership between Paypal and Paxos. Further, listing a few latest announcements in crypto
A Quick Guide On How To Start Crypto Trading
Are you wondering how to start crypto trading? This article enlists essential steps that will help you kick off your crypto trading learning journey. Table
Forex Expert Advisors Explained – 5 Reasons Why You Might Need Them
With the advancement of technologies, automation is also being introduced to various industries and forex is no exception to that. Automated programmes are now able
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How to Add Avalanche to MetaMask?
There are various Ethereum wallets out there, from hardware to software, but we all know that MetaMask is one of the best options. It’s so
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Bitcoin Is Becoming Greener, Says Elon Musk and Nic Carter
For the first time, the CEO of Tesla, Elon Musk has revealed that his famous aerospace company SpaceX is in possession of a certain amount
SegWit vs Native SegWit (Bech32) : A Comprehensive Guide
Before proceeding with our debate of SegWit vs Native SegWit (Bech32), let us learn about the fundamentals of segregated witness address, abbreviated as SegWit and
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EU Adopts Laws for Tracing Crypto-Asset Transfers and Supervision
The European Union (EU) has made history by passing the world’s first comprehensive legal framework for crypto-assets, the Markets in Crypto Act (MiCA). The law
Growing Demand for Cryptocurrencies Creates New Career Options for Crypto Enthusiasts
Want to know what are the career options in the Crypto space? Is it worth becoming a Cryptocurrency Expert? This article will answer all your
List Of Best Open Source Blockchain Platforms
Open source Blockchain Platforms Open source software is a radical model oriented technology which enables the organization to fasten their development to initially reduce the
Blockchain FAQs – Most Frequently Asked Questions in Blockchain
These are few frequently asked questions in blockchain. Blockchain FAQs – Most Frequently Asked Questions in Blockchain from Blockchain Council What Is Blockchain? Blockchain is
Wyoming gives legal recognition to the first DAO in the United States
Wyoming has gained the status as the most pro-crypto state in the United States of America. The very first Decentralized Autonomous Organization (DAO) has been
What Is Terra LUNA? LUNA Coin Explained
Stablecoins have developed as a vital component of the cryptocurrency ecosystem, bridging the fiat-to-digital currency divide. The total capitalization of the stablecoin market has risen
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The Best Tether (USDT) Wallets [UPDATED]
Summary Tether (USDT) is a Blockchain-based cryptocurrency pegged to the US dollar, valued at $1.00 per coin. Over 83 billion Tether tokens are in circulation
- By Amber Smith
Portugal Grants First Crypto Exchanges Operating Licenses
For the first time ever, Banco de Portugal has approved operating licenses to regional cryptocurrency trades. Recently, the central bank gave out the statement that
Top Cryptocurrency Payment Apps That You Should Know
Are you a crypto enthusiast? Want to perform crypto transactions using a user-friendly payment app? Want to know which are the best options that are
A Brief Introduction to Polkadot
Curious to know what Polkadot is? How does it work, and what makes it different from other Blockchains? Why is it gaining a lot of
A huge crash in crypto: Bitcoin, Ethereum, and Dogecoin all fell by up to 45%
The crypto balloon that once took Bitcoin to as high as over $1 million had a significant fall overnight on 19th May. Bitcoin dropped
What Is BEP20 Token – Simplified
Summary BEP-20 tokens are digital assets on Binance Smart Chain, following a standard similar to Ethereum’s ERC-20. The purpose of BEP-20 tokens includes standardization for
What is Cold Storage in Cryptocurrencies?
The world economy has been very shaky in the past few years. Under such circ*mstances, there has been an increasing inclination towards an alternate currency
Does The Global Market Really Care About The Anti-Crypto Crackdown That Took Place In China?
The cryptocurrency crackdowns that have been taking place in China meted out by the Chinese government officials in a systemic and pretty sustainable manner have
A Quick Guide: CoinDCX in Keeping Funds Safe with BitGo
Cryptocurrency trading is a trending profession nowadays. People are curious to know more about cryptocurrency and other digital assets. Blockchain technology is the basic technology
- By Ayushi Abrol
Finally Cardano Launches Smart Contracts Post A Successful Hard Fork
The globally popular Cardano network has successfully completed its much anticipated hard fork event, and this has made way for them to introduce their exclusive
What is SHIB (Shiba Inu) Coin? Why it is called as ‘Dogecoin Killer’ cryptocurrency?
Just when you think, okay things can’t get any ridiculous, Shibe Inu ($SHIB) comes wagging its tale in the scene of cryptocurrency. Although Bitcoin, Ethereum,
Top 5 Ways To Recover Funds From Crypto Currency Scam [UPDATED]
Summary: Summary Cryptocurrency has become popular for transactions and investments, but it has also led to an increase in crypto scams. Scammers use illegal schemes
- By Amber Smith
IOTA Vs. IoTeX: Key Differences
Over the past decade, the crypto industry and blockchain technology have seen significant growth. Digital assets such as Bitcoin, which were among the first, were
Crypto payments to be accepted in 50,000 EV charging stations in Europe
The recent news outbreak regarding approval of crypto payments in EV charging stations across Europe has been gaining much attention. Two payments firms, HIPS payment
What Is QTUM Cryptocurrency?
Without a doubt, blockchain technology is altering the way we interact with the world today. Whether it’s for making payments, tracking shipments, or other critical
- By Ayushi Abrol
Trading Bots vs Humans: Everything about trading accuracy
Over the past decade, we’ve seen the rise of trading bots and Quantitative Funds, and we have also seen the fall of traditional asset managers
What drove the meteoric rise in Bitcoin Cash?
Summary Bitcoin Cash, which has been stewing in the $300 price range ever since August 1, 2017, saw explosive growth last weekend after the announcement
Everything You Need to Know About Binance Smart Chain (BSC)
Binance Chains, also called the home of BNB currencies, have gained their part in the cryptocurrency world faster than expected. Binance chain was first introduced
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What Is Pool Mining & How It Works?
The Bitcoin pool or the mining pool is a certain network where we can finda collection of miners working as one and giving helping hand
How to Add Polygon to MetaMask?
The first step is to download MetaMask in your browser of choice; Chrome or Firefox. You will need some Ether (ETH) on installation, also known
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Everything You Need to Know about Yield Farming
“The amount lent out is paid back with interest when typical loans are sanctioned through banks. The same concept goes with yield farming: lending of
What is Ethereum and why is it important?
Ethereum is a global computer. It stands for a new model in computing built from the technology and approach basically took the lead in Bitcoin.
Google Brings Back Crypto Ads Once Again As New Policy Comes Into Effect
The Tech Giant Google is once again allowing crypto ads to run on their platform, starting from the 3rd of August. Google, which is the
What Is Cryptocurrency And How Does It Work? A 2023 Guide
It is the year 2022, and the cryptocurrency space is booming. Since bitcoin’s inception in 2009, the cryptocurrency space has come a long way. However,
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Complete Guide on Cryptocurrency Security
Cryptocurrency has been in hype since the release of Bitcoin. Now Bitcoin and Ethereum are the top two cryptocurrencies that you can invest in. However,
New AI-Based Algorithm to Detect Unauthorized Cryptocurrency Miners
You must have heard a lot about the consequences of combining AI with Blockchain. In this article, we will discuss the latest AI-based system or
The Ethereum (ETH) Merge Is Now Done: What To Expect Next?
Ethereum has completed its highly anticipated transition from proof-of-work (PoW) to proof-of-stake (PoS) in a process known as the Merge. It wasn’t simple to go
After Buying The Dip, El Salvador Now Owns 700 Bitcoins Worth More Than $31.5 Million
After having declared Bitcoin as the legal tender in the country of El Salvador, the country seems to be continuing to capitalize on the market
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Summary Transaction speed is an important factor to consider when choosing a cryptocurrency for everyday use. Cryptocurrencies with high transaction speeds include Ripple, EOS, TRON,
Ten Serious Mistakes You Need to Avoid When Trading Altcoins in 2022
Altcoins are not the future, they are the present. Despite its high volatility, the total crypto market cap is now around $1.92 trillion. With a
Top 10 Cryptocurrencies to Invest in 2023 [UPDATED]
Summary The top 10 cryptocurrencies to invest in for 2023 are subjective and can change based on market conditions. Some of the top cryptocurrencies to
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Crypto Businesses Granted Liberty to Operate at DMCC in Dubai
According to the recent announcement, crypto businesses have been granted the freedom to operate in Dubai Multi-Commodities Centre (DMCC) once registered licenses are admitted. The
Japan to have more insight on its digital yen next year, says official
According to the Reuters report, a lawmaker who is currently overseeing the CBDC plan of the ruling party, has stated that Japan will have a
Segwit2x Called Off: How will Bitcoin Scale Up Now?
Now that the scheduled SegWit2x hard fork is dead in the water, we are taking a look at what the future holds for Bitcoin and
Blockchain Council & CoinDCX, launch Certified Cryptocurrency Expert™ & Certified Cryptocurrency Trader™ certifications
Blockchain Council, a globally renowned online training and certification organization in blockchain space, has partnered with India’s largest Cryptocurrency Exchange CoinDCX, with an aim to
Leading Crypto Exchange Binance Comes Under Pressure From Regulatory Actions
Binance, the largest cryptocurrency exchange in the world, has been facing regulatory actions worldwide. Just sometime earlier Barclaycard declared suspension of payments to Binance through
What Is a Crypto Trading Bot and How Does it Work?
Cryptocurrencies trading takes place 24 hours a day, 365 days a year. Therefore, it’s hard for a trader to seize every chance that arises in
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What are some of the successful ICOs in the past?
Cryptocurrencies are the buzz word which has become the talk of the town; it is the most significant trend in the market. But, amidst all
AMC Theatres to Accept Bitcoins As Payment By The End Of The Year
Adam Aron who is the Chief Executive Officer of the famed AMC Theatres announced on a quarterly earnings call that the company is busy in
A big raise of $105M by US miner to recycle waste coal into crypto
The US miner company Stronghold announced a total raise of 105 million dollars to support techniques to recycle coal waste during bitcoin mining. The huge
What Are The Biggest Crypto Venture Capital Firms?
What Are The Biggest Crypto Venture Capital Firms? Summary Venture capital is a type of private equity investment Cryptocurrency VC investment is faster Most crypto
How to Become a Certified Bitcoin Expert™? A Complete Guide
Summary: Bitcoin is a decentralized digital currency created in 2009 that operates on a peer-to-peer network, enabling direct transactions without intermediaries. Bitcoin’s limited supply of
The Majority Of Russians Prefer Investing In Crypto Rather Than Traditional Assets
For a large number of people across the globe, cryptocurrencies are turning out to be a better area of investment when compared to traditional ideas
Should You Invest in Crypto During a Bear Market?
The crypto explosion over the past few years has opened up a whole new world. As major companies and industries worldwide are beginning to see,
Ethereum May Replace Bitcoin As The New Store of Value, Says Goldman Sachs
The popular firm Goldman Sachs reported on Tuesday that Ethereum may soon surpass Bitcoin, eventually replacing it as the next best storage of value in
Top 10 Crypto Lending Platforms: The Final List
Cryptocurrency is the most popular part of SEO in the fintech world. Crypto has introduced fresh insights on financial services based on the power of
What Is Aave? How To Buy Aave (AAVE)?
Want to know how to buy Aave? Don’t worry; we’ve got you. In this article, we will explore everything. Keep reading. Aave is now
How many bitcoins are there and how many are left to mine? [UPDATED]
Summary Summary There is a limited supply of bitcoins that can ever exist, with a total cap of 21 million. Currently, around 19 million bitcoins
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Best Valentine Gifts in 2023 for your Loved Ones
Valentine’s Day is around the corner, and it’s time to think about what to gift your loved one. Traditional Valentine’s gifts like chocolates, flowers, teddy
Will Bitcoin Reach All-Time High of $100K in 2021?
Are you a Crypto enthusiast? Wondering whether BTC will beat all records and reach $100k this year or not? Well, you have landed on the
PayPal Will Enable Users To Withdraw Crypto, Exec says
The blockchain lead of universal payments giant ‘PayPal’ said that the company plans to let its customers withdraw cryptocurrency to third-party wallets. On 26th May
Crypto Trading Vs. Forex Trading- A Detailed Guide
If you are juggling between forex and crypto trading, you have landed at the right place. The article illustrates how both tradings differ from one
Everything You Need To learn About Safemoon, The New sensation in Crypto World
SafeMoon is a newly added cryptocurrency that has seen a rise in its rates since its launch in March 2021. Cryptocurrency trading is not an
Top Crypto Acronyms That You Should Know
Top Crypto Acronyms That You Should Know Overview The crypto community is one of the youngest communities in the world, whether in terms of age
What Is Enjin (ENJ), And How Does It Work?
If you are looking forward to setting foot in the cryptocurrency market, the first thing you need to do is find the right cryptocurrency. Many
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From Shutting Down A Software Firm to Issuing Industry Wide Warning, China Takes Serious Measures
The Central Bank of China. Also known as the People’s Bank of China (PBOC) has closed down a software development firm over suspicions of unclear
What Is Ankr (ANKR)? ANKR Coin Explained
Ankr was organized in 2017 by chief executive officer Chandler Song, who had the confidence to make a skillfully vulnerable outlet for the evolution of
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Difference Between Stablecoin And Bitcoin
As the world is constantly evolving, more and more people are becoming more tech-savvy. The global rise of the fintech industry has also added to
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Mastercard Aims to Help Cryptocurrency Startups, Launches Global Program to Scale Innovations
Mastercard, the giant payments company, has launched a new global initiative for startups dealing with cryptocurrencies where seven companies dealing in crypto have already
Custodial vs. Non-Custodial wallets: Difference Disclosed
Can you remember how many times you tried the forgot password button last year?Maybe multiple times. In fact, most people forget their passwords in just
Popular Universities in Virginia of 2022
We have all heard of the place, right? At some point or other, this state has come to our notice, be it for its beauty,
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Risks in exchanging cryptocurrency and how to avoid them?
Exchanging cryptocurrency can be a risky endeavor. Some of the most common risks include hacking, fraud, and theft. To avoid these risks, it is important
- By Amber Smith
Survey Says 50% Africans Invest In Crypto To Pay For Children’s Education
According to a recent poll that has been conducted across the continent of Africa, it has been concluded that the majority of Africans are investing
List Of Best Blockchain & Bitcoin Related Books
In this digital era, we have come across a lotof Bitcoin, blockchain books. However, we are always concerned about which are the best ones to
Global View on the ICOs
There is a lot of buzz on the market about the ICO and cryptocurrencies. It has created some seismic disruptions which have hit every part
What is Litecoin?
The year 2017 is all about digital economic revolution and when we are talking about it, then how can we miss to talk about cryptocurrencies.
What Is Staking In Crypto and How Does It Work?
Staking crypto is now becoming popular day by day as many people are becoming aware of it. It has emerged as another way for crypto
Coinbase is building a Crypto Hub in India: Aiming to hire hundreds in future
Coinbase which is a cryptocurrency exchange company that is also listed on Nasdaq, is busy constructing an active hub for cryptocurrency in India. The company
HyperVerse Blockchain – All You Need to Know [UPDATED]
Summary: HyperVerse Blockchain is a decentralized platform that allows users to trade, play, and socialize. HyperVerse Blockchain is powered by the HVT token, which is
Shiba Inu Token Goes Up 25% After It Gets Listed On Coinbase
According to a very recent announcement from the popular cryptocurrency exchange platform Coinbase, the new cryptocurrency, which goes by the name of Shiba Inu, that
Payments Giant Mastercard Has Acquired Ciphertrace, The Blockchain Intelligence Farm
Mastercard, the giant multinational payment processing company from the United States, recently announced that the company is on its way to dipping its toes further
The Biggest Cryptocurrency Hotspots in the World
Are you a Crypto Enthusiastic? Are you one of those who believes in crypto space? Look no further, this article lists the top cryptocurrency cities
6 Cryptocurrency Developments to Look Out For in 2022
The year 2021 witnessed both the bearish and bullish crypto markets, but to sum up, it was a “lucky” one for the investors. The market
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Cardano To Receive $100 Million Investment From EMURGO To Bolster DeFi Adoption
Decentralized Finance or DeFi applications have become immensely important after the massively popular Alonzo Hard Fork event enabled smart contracts to operate on the Cardano
Crypto Startup Fireblocks Raises $310 Million: Company valuation Triples to $2.2 Billion
Fireblocks, which is a company famous for providing infrastructure for Digital Assets, has been able to raise over $310 million in a Series D round
List Of Best Mining Pools All Over The Globe
Mining pools are known as the group of cooperating miners who willfully agree to share block incentives in proportion to their contributed mining hash power.
Bitcoin Could Surge $5 million, ‘Screaming Signal’ To Buy, Says MicroStrategy CEO
According to the latest announcement, CEO of MicroStrategy, Michael Saylor, predicts that Bitcoin price could hit $5 Million and considers BTC as a “screaming buy.”
Bitcoin so far: Highlights of Bitcoin 2022 event
As the world prepares to consume the last 2.1 million bitcoin, an event on Bitcoin so far has been held in Miami from 6th April
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Bitcoin Journey From $1 to Over $60000
Are you a Blockchain Enthusiast? This article talks about Bitcoin’s history, its rise, fall and illustrating its journey towards breaching the $60,000 mark. Table of
This is what will happen if you try to access Crypto Exchanges in China post the crypto ban
The crypto ban in China is getting more serious with every single day. The whole thing began in the form of a warning to the
Bitcoin Surpasses all Records: Price, Predictions, and Reasons for its Boom
Are you a Bitcoin enthusiast? Want to know why it is exploding, and what you can expect in the future? You have landed on the
An Ultimate Guide to STEPN GMT
Seeing a sci-fi movie often takes our brains to the wandering land where we drool over the technological prowess we as humans have achieved over
Brave Browser Adds YouTube Support
The Basic Attention Token platform, which lets users, publishers and advertisers come together to get rid of mediators in the online ad marketplace has expanded
Things To Know About Bitcoin Open-Source Wallet
Bitcoin infrastructure company Blockstream has joined the game with aBitcoin open source wallet(BTC), according to a press release shared with the BTC Times. It is
- By Adam Cifu
Former Official of RBI Pushes For India To Start Accepting Crypto Transactions
Rama Subramaniam Gandhi, who is a former Deputy Governor of the Reserve Bank of India, strongly feels and suggests that cryptocurrencies and other digital assets
New Milestone Reached: 100 Cryptocurrencies Hit a Market Capitalization of $1 Billion
Are you a crypto enthusiast? Want to get updated and stay tuned regarding the crypto sector? This article has got you covered. Table of Contents
A Comprehensive Guide to Cryptocurrency Trading Strategies
Are you a Crypto Enthusiast who wants to learn crypto-related trading strategies? Well, we have got you covered. This article talks about what crypto trading
Trading Giant Robinhood Coming Up With Crypto Wallets Next Month
Robinhood, the financial services tycoon, has recently announced that they are willing to open up a new line of services where they can sell cryptocurrency
Monero Mining for Beginners
Among new crypto traders who have just invested in their first Monero (XMR) coins, a good few may be interested in mining. Just like mining
- By Amber Smith
What are the pros and cons of staking crypto?
With the rise of crypto and blockchain technology, a new way of earning rewards through investment has been born — staking. While staking can be
- By Amber Smith
6 Features Of The Best Crypto Exchange App
If you’re a crypto trader, you’ll likely require exchanging your cryptocurrency for another type or buying more using cash. Likewise, you may also require converting
- By Amber Smith
What Do The Weekend Metrics Suggest of MATIC’s Future
All eyes were on the popular Altcoin MATIC throughout the last week when it successfully breached above its resistance point of $1.20 after clocking in
Just As Flare’s Canary Network Exits Observation Stage, Smart Contracts On XRP Ledger Moves A Step Closer To Reality
Songbird, which belongs to the Canary platform of Flare Network, has moved ahead a step towards success after successfully exiting an observation mode that lasted
How Cryptocurrencies Enabling Financial Inclusion in the Developing Countries
We all know the importance of financial inclusion. Right? Can cryptocurrencies drive financial inclusion, and if yes, then how? Let’s dive deeper into understanding the
The Mercedes-AMG Petronas F1 Team Makes A Prolonged Collaboration With Crypto Exchange FTX
This is a remarkable year where we have seen many top-rated car manufacturers and brands making their entrance into the highly popular and lucrative NFT
How Polygon’s proposal to implement EIP-1559 will affect its network
Polygon (MATIC) is a crypto coin that experienced a rise of nearly 6962% in early 2021. Since then It has marked its name in the
Draft Regulations For Bitcoin Services Released By El Salvador’s Central Bank
The Banco Central de Reserva or better known as the BCR is the central bank of the small Latin American country named El Salvador. Recently
Stablecoins: What They Are, Where to Store, and the Main Risks
Stablecoins are used on the crypto market as an analog of the U.S. dollar. It is believed that they arepegged to the U.S. dollarin the
- By Amber Smith
What Is Online Cryptocurrency Converter?
A cryptocurrency converter is a software that translates one cryptocurrency value into another currency of your choice. You can use it to check its corresponding
Complete Guide to Cryptocurrency Trading for Beginners [UPDATED]
Summary Cryptocurrency trading is gaining popularity across various sectors, and it’s essential to handle it correctly. To start cryptocurrency trading, you need extensive knowledge about
- By Ayushi Abrol
Top Bithumb Executives in Hong Kong Charged With Fraud
Bithumb is the largest crypto exchange in South Korea. Their subsidiaries in Hong Kong have been charged with lawsuits for violation of the contract. Top
Payments Giant PayPal Plotting Bitcoin and Crypto Expansion in August
Global payments giant PayPal is willing to expand their offerings in the cryptocurrency space. This year, during the month of April, PayPal initiated offering cryptocurrency
A Comprehensive Guide on Ripple
With a real-time gross settlement system plus currency exchange, Ripple is best known for its ability to provide an efficient global payment platform to everyone.
NordVPN to Provide Protection Against Attacks on Crypto Transactions
As the world around us gets more and more interconnected through new forms of technology, and as it is bringing about revolutionary changes in the
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