If you’re interested in Bitcoin, you may be aware that there is a limited number of 21 million bitcoins that will ever be available. But — do you know how and when we will get to that 21 million number? And how many bitcoins are there currently available? How much time do we have left, and at what rate is it happening?
In this video, we explore the 21 million limit on the number of bitcoins, and we answer some of the most pressing questions on the controlled supply of bitcoins:
– When will we get to total number of 21 million bitcoins?
– How many bitcoins are there currently available?
– How did we get to the current number of bitcoins available?
– At what rate will bitcoins be mined as we get closer to the final bitcoin ever being mined?
This 21 million maximum supply on the number of bitcoins is a commonly cited reason as to why Bitcoin is so valuable.
This is due to the fact that when you calculate that there will only be a maximum of number of 21 million bitcoins ever mined, and that there are billions of people on the planet – the cost of each of those bitcoins would have to go up as new people want to acquire bitcoins as well.
There are currently over 1,300 different cryptocurrencies available, with new ones being created on a regular basis. However, not all cryptocurrencies have a limited supply, and this finite number of bitcoins is a key value differentiator in Bitcoin from many other cryptocurrencies.
This maximum limit on the total number of bitcoins which will ever be mined, as well as how we will get to that number, raises a lot of questions.
Find out the full story in this video, along with the fascinating math behind Bitcoin and its limited supply of 21 million.
Image via George Levy