90% of the 21 million Bitcoin products have been discovered! Only 10% can be mined over the next 119 years.

According to data from Blockchain.com, there are now 18.9 million Bitcoins in total circulation, or 90% of the 21 million Bitcoins. to the left. Wait for the excavation.

BitcoinMagazine, a veteran bitcoin magazine, marked Twitter's high point at 5 a.m. on the 13th. Press Release - Currently 90% of the 21 million Bitcoin proceeds have been mined, and in the following 119 years, only 10% of the products were not extracted. Dig it!

Bitcoin Provisioning Mechanism

According to previous data from the global financial community, Bitcoin inventor Satoshi Nakamoto unearthed the origins of Bitcoin in 2009 and created 50 Bitcoins. According to the Bitcoin process, there will be a download every 10 minutes. The price for the blocks is halved for approximately every 210,000 blocks.

In other words, the reward for the first 210,000 block is 50 bitcoins, and the reward for each block from the 210,001st to the 420,000th block is 25 bitcoins. The calculated exit time of each block is approximately 10 minutes, and the exit time of each 210,000 blocks is approximately 4 years, so Bitcoin will halve the block reward every 4 years.

According to this standard, each giveaway block is 50 bitcoins in the first four years after the birth of bitcoin, and each giveaway block is 25 bitcoins over the next four years. About 1 year.

It should be noted that after 90% of the Bitcoins were mined, Bitcoin Core developer Jimmy Song today presented the best counting method on Twitter.

“In fact: it takes 12.9 years for 90% of Bitcoin devices to come out, and at the same time for the next 9% of exported Bitcoin products, then 0.9% of Bitcoin devices.

The time it takes for Bitcoin products to reach 18.9 million: 12.9 years

The time given for Bitcoin is up to 20.79 million: 25.8 years

Execution time to 20,979,000 Bitcoin given: 38.7 years

Exponential numbers are cool. "

Insufficient will increase the price?

With 90% of all Bitcoin mined, “Bitcoin Magazine” today announced that demand for Bitcoin continues to grow as the global popularity and use of the Bitcoin network continues, resulting in an immediate shock supply. and strong. It cannot be avoided.

This article makes more sense after the release of over 90% of Bitcoin products. This is because the price of bitcoins issued cannot determine performance, but bitcoins issued most of the market. The point is, most Bitcoin products in circulation are owned by companies with little to no sales history.

In December of last year, data analytics firm Glassnode released a report identifying the bitcoin product portfolio and breaking down bitcoin holders into three types: high liquidity, liquidity, and no liquidity. In total, 14.5 million Bitcoins (78% of Bitcoin circulation) are held by illegal companies.

At the time, Glassnode pointed out: Mined bitcoins are commercially available, but most bitcoins are held by people who refuse to sell them.

“BitcoinMagazine” thinks this means that the HODL meme is having a huge impact on the Bitcoin community. Many are committed to holding Bitcoin until hyperbitcoinization occurs, that is, until Bitcoin reaches full revenue. Once they become storage rooms, they can spend money not on sales.

In fact, most of the Bitcoin supply mined is not from the apple. Some of the biggest bitcoin miners in the world are starting to enter the HODL rankings this year. For example, the Canadian miner Hut8 was mined last November. Total of 256 Bitcoins Issued As of November 30 of this year, the company has reserved 5,242 Bitcoins.

Therefore, "BitcoinMagazine" draws a good conclusion. As people, schools and governments begin to understand what Bitcoin's short term is, Fear of Uncertainty (FOMO) can reach new levels and market shocks can be avoided. In order to meet the demand of large players such as banks and mid-sized banks, the value of Bitcoin will increase until the currency is depleted.