80 % mined already

By the middle of January, 2018, Bitcoin arrived at a milestone. It was the historic moment when Bitcoin’s circulation volume reached 80 percent of the total supply. 16.8 million Bitcoins out of the total 21 million have already been mined which means that 4.2 million Bitcoins are left to mine.

Not all crypto-currencies are mineable. Unlike Bitcoin, in the cases of many other coins the total supply is in circulation from day one and there is no need to mine further coins. Such coins are, for example, Ripple, IOTA, NEM, NEO, Qtum, Omisego and EOS.

From a crypto-currency market point of view, Bitcoin’s 21 million total supply is a relatively low number.

The similarly named Bytecoin has a total supply of more than 184 billion, for example. Ripple’s total supply is 100 billion. There are 10 crypto-currencies with a max supply of around or more than 1 billion.

Compared to those, Bitcoin’s 21 million is a low number. And the remaining Bitcoins to be mined are getting more and more valuable as the number of unmined coins is going down. The more coins are mined the more scarcity is produced on the market.

Scarcity creates demand which makes the number one crypto-currency more and more valuable.

And when all 21 million Bitcoins have been mined it will be very hard to obtain Bitcoin and that generates a further growth in value.

How many people do you think would like to have their own Bitcoin out of the 21 million coins in the whole world? How valuable will your Bitcoin be when the last coin is mined and hundreds of millions of people want one?


Source: https://cointelegraph.com/news/80-of-all-bitcoins-already-mined-only-42-million-coins-left-until-supply-cap

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