How Much Bitcoin Has Been Mined to Date?84

As of today, Tuesday, 14th Feb, 2023, approximately 19,297,825 bitcoins have been mined. This represents 90% of the total supply of 21 million bitcoins that will ever be created.

The first bitcoin block was mined by Satoshi Nakamoto on January 3rd, 2009. At the time, each bitcoin was worth less than a cent. Today, each bitcoin is worth over $23,000.

The majority of bitcoins have been mined in the past few years. In 2017, over 1 million bitcoins were mined. In 2018, over 2 million bitcoins were mined. And in 2019, over 3 million bitcoins were mined.

The rate at which bitcoins are mined is decreasing over time. This is because the difficulty of mining bitcoins increases as more and more bitcoins are mined. The difficulty is adjusted every two weeks based on the hashrate of the Bitcoin network.

The hashrate is a measure of the computational power that is being used to mine bitcoins. The higher the hashrate, the more difficult it is to mine bitcoins.

The hashrate has been increasing steadily over time. This is because more and more people are investing in Bitcoin mining equipment.

The increasing hashrate is making it more difficult to mine bitcoins. This is causing the block reward to decrease over time.

The block reward is the amount of bitcoins that are awarded to miners for each block that they mine. The block reward is currently 6.25 bitcoins.

The block reward will continue to decrease over time until it reaches zero. This is expected to happen in 2140.

Once the block reward reaches zero, miners will no longer receive any bitcoins for mining blocks. Instead, they will rely on transaction fees to earn a profit.

The transaction fees are paid by people who send bitcoins to each other. The transaction fees are used to incentivize miners to process transactions.

The transaction fees are expected to increase over time as the block reward decreases.

2024-11-11

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