{"id":470473,"date":"2021-09-04T17:00:57","date_gmt":"2021-09-04T17:00:57","guid":{"rendered":"https:\/\/ktsl888.com\/?p=470473"},"modified":"2024-06-11T10:06:52","modified_gmt":"2024-06-11T10:06:52","slug":"how-long-it-will-take-to-mine-bitcoin","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/how-long-it-will-take-to-mine-bitcoin\/","title":{"rendered":"Data Shows Nearly 90% of Bitcoin Has Been Mined, Here\u2019s How Long It Will Take To Mine The Rest"},"content":{"rendered":"

Bitcoin mining is still one of the hotly debated parts of the blockchain. Miners, no doubt make a good amount for blocks mined given the current price of BTC. But mining difficulty has also gone up as more BTC are mined.<\/p>\n

In its decade-long history, over 18.6 million of Bitcoin\u2019s 21 million total supply has been mined. This constitutes almost 90% of all BTC’s supply. This leaves a little over 10% of BTC left to be mined. Currently, there are about 2.250 million coins left to be mined.<\/p>\n

Related Reading |\u00a0Market Analyst Sees Bitcoin Peaking At $100,000 By Year-End<\/a><\/strong><\/em><\/p>\n

At the current rate, it is estimated that the last bitcoin will be mined about 120 years from now. This is due to halving events<\/a> that will occur every four years, reducing the supply of BTC going into circulation every four years.<\/p>\n

Mining Bitcoin In 2009 Versus Mining In 2021<\/h2>\n

The cryptocurrency which first came out in 2009 had rewarded miners 50 bitcoins for each block that they mined. This was back when a user could mine bitcoin using an old laptop with a crappy graphics card. At this point, bitcoin was worth next to nothing. So a lot of miners either forgot their coins or sold them for very cheap. Bitcoin\u2019s price evolution through this point is an interesting time.<\/p>\n

Related Reading |\u00a0Crypto Has Arrived In Hollywood And The Stars Are Loving It!<\/a><\/strong><\/em><\/p>\n

In 2021, three halving events since the launch of the digital currency has seen reward for block mined reduce drastically. The first halving occurred in 2012. At this point, the reward for a block was 25, reducing it by half. The next halving occurred in 2016, which reduced the reward to 12.5. The most recent halving happened in 2020, which reduced the number of bitcoins received per mined block to 6.25.<\/p>\n

The reward will continue to halve every four years until all 21 million BTC are mined. Every halving will reduce the rewards for mined blocks by half every time. Making the rewards for mining blocks smaller, while simultaneously increasing the mining difficulty as miners clamor to get the rewards for mined blocks.<\/p>\n

BTC Growth Over The Years<\/h2>\n

The pioneer cryptocurrency didn\u2019t draw too much attention until the Silk Road bust<\/a> happened. Before the Silk Road was launched, BTC was only used by people who were in it for the technology. The returns were not really significant at this point. These of BTC on Silk Road as a way to purchase literally anything, from drugs to weapons, is what really made law enforcement turn its focus on the coin.<\/p>\n

\"Bitcoin<\/p>\n

BTC started to see significant growth in 2017 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n

BTC’s price remained mostly flat around this period, despite its increased popularity, thanks to the Silk Road bust. The most notable bull run happened in 2017-2018. This was when a lot of investors had heard about bitcoin. The bull market brought BTC to the forefront as a strong asset to contend with.<\/p>\n

Related Reading |\u00a0Bitcoin At $100,000, Ethereum At $5,000 Is Path Of Least Resistance, Says Bloomberg Crypto Analyst<\/a><\/strong><\/em><\/p>\n

In 2021, it is estimated that about 10% of the current world population are invested in either BTC or altcoins. Current numbers are put between an estimated 51 and 52.4 million crypto investors in the world. Compared to an estimated 2.9 to 5.8 million in 2017, this is tremendous growth.<\/p>\n

Featured image from OptinMonster, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"

Bitcoin mining is still one of the hotly debated parts of the blockchain. Miners, no doubt make a good amount for blocks mined given the current price of BTC. But mining difficulty has also gone up as more BTC are mined. In its decade-long history, over 18.6 million of Bitcoin\u2019s 21 million total supply has been mined. This constitutes almost 90% of all BTC’s supply. This leaves a little over 10% of BTC left to be mined. Currently, there are about 2.250 million coins left to be mined. Related Reading |\u00a0Market Analyst Sees Bitcoin Peaking At $100,000 By Year-End At the current rate, it is estimated that the last bitcoin will be mined about 120 years from now. This is due to halving events that will occur every four years, reducing the supply of BTC going into circulation every four years. Mining Bitcoin In 2009 Versus Mining In 2021 The cryptocurrency which first came out in 2009 had rewarded miners 50 bitcoins for each block that they mined. This was back when a user could mine bitcoin using an old laptop with a crappy graphics card. At this point, bitcoin was worth next to nothing. So a lot of miners either forgot their coins or sold them for very cheap. Bitcoin\u2019s price evolution through this point is an interesting time. Related Reading |\u00a0Crypto Has Arrived In Hollywood And The Stars Are Loving It! In 2021, three halving events since the launch of the digital currency has seen reward for block mined reduce drastically. The first halving occurred in 2012. At this point, the reward for a block was 25, reducing it by half. The next halving occurred in 2016, which reduced the reward to 12.5. The most recent halving happened in 2020, which reduced the number of bitcoins received per mined block to 6.25. The reward will continue to halve every four years until all 21 million BTC are mined. Every halving will reduce the rewards for mined blocks by half every time. Making the rewards for mining blocks smaller, while simultaneously increasing the mining difficulty as miners clamor to get the rewards for mined blocks. BTC Growth Over The Years The pioneer cryptocurrency didn\u2019t draw too much attention until the Silk Road bust happened. Before the Silk Road was launched, BTC was only used by people who were in it for the technology. The returns were not really significant at this point. These of BTC on Silk Road as a way to purchase literally anything, from drugs to weapons, is what really made law enforcement turn its focus on the coin. BTC started to see significant growth in 2017 | Source: BTCUSD on TradingView.com BTC’s price remained mostly flat around this period, despite its increased popularity, thanks to the Silk Road bust. The most notable bull run happened in 2017-2018. This was when a lot of investors had heard about bitcoin. The bull market brought BTC to the forefront as a strong asset to contend with. Related Reading |\u00a0Bitcoin At $100,000, Ethereum At $5,000 Is Path Of Least Resistance, Says Bloomberg Crypto Analyst In 2021, it is estimated that about 10% of the current world population are invested in either BTC or altcoins. Current numbers are put between an estimated 51 and 52.4 million crypto investors in the world. Compared to an estimated 2.9 to 5.8 million in 2017, this is tremendous growth. Featured image from OptinMonster, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":470474,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,640,12210,1119,84159,37773,1144,78790],"class_list":["post-470473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-mining","tag-bitcoin-supply","tag-btc","tag-btc-mining","tag-btc-supply","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nData Shows Nearly 90% of Bitcoin Has Been Mined, Here\u2019s How Long It Will Take To Mine The Rest<\/title>\n<meta name=\"description\" content=\"Bitcoin mining is still one of the hotly debated parts of the blockchain. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Data Shows Nearly 90% of Bitcoin Has Been Mined, Here\u2019s How Long It Will Take To Mine The Rest","url":"http:\/\/ktsl888.com\/news\/how-long-it-will-take-to-mine-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/how-long-it-will-take-to-mine-bitcoin\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/08\/timer.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/08\/timer.png?fit=620%2C300"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin mining","bitcoin supply","btc","btc mining","btc supply","btcusd","btcusdt"],"dateCreated":"2021-09-04T17:00:57Z","datePublished":"2021-09-04T17:00:57Z","dateModified":"2024-06-11T10:06:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Data Shows Nearly 90% of Bitcoin Has Been Mined, Here\\u2019s How Long It Will Take To Mine The Rest\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/how-long-it-will-take-to-mine-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/how-long-it-will-take-to-mine-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/timer.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/timer.png?fit=620%2C300\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin mining\",\"bitcoin supply\",\"btc\",\"btc mining\",\"btc supply\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2021-09-04T17:00:57Z\",\"datePublished\":\"2021-09-04T17:00:57Z\",\"dateModified\":\"2024-06-11T10:06:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/08\/timer.png?fit=620%2C300","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/470473"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=470473"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/470473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/470474"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=470473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=470473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=470473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}