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How many bitcoins are there in total today

2016-05-27 00:00:00

Bitcoins have ceased to be something unknown and unknown. There are more and more people who let this unusual digital currency into their lives. This means that its popularity continues to grow. Many are interested not only in how it can be obtained, but also how many Bitcoins were produced in total, and what this process is like. The relevance of this issue is caused by a number of reasons, of which it should be noted:

  • Increased awareness due to the rise in the price of virtual coins.
  • The ability to safely save your own savings.
  • Low transaction fees.
  • Confidentiality of money transfers, etc.

 

The birth of the "golden" Bitcoin?

Which expression is more accurate: generation, production, mining or birth of Bitcoin? Most often, the "birth" of new virtual coins is called mining, and the reason for this is not only that this process is complex, laborious and requires huge energy costs and high computer power. Also because they are called "digital gold", and the real is also mined. They are looking for a gold mine among the iron ores or washed out of the sand of gold-bearing rivers. And electronic "gold" bars, or rather coins - Bitcoins are mined by mining. Also, they, like gold, are limited in number. After all, the creators immediately calculated how many Bitcoins can be created, and came to the number 21 million.

Virtual gold diggers-miners solve complex mathematical problems, the result of which is a kind of reward in the form of virtual crypto coins. They, in turn, are divided into one hundred millionth particles - satoshi gold placers.

 

It was easier at first

Once the era of the first cryptocurrency began, mining was much easier. It could be done by ordinary users of a personal computer. Like the pioneers of the "gold mine", they managed to mine a lot of "gold" crypto coins. But the program is designed in such a way that the further the mining process goes, the more difficult and slower the result is. This required more extensive technical resources. And to answer the question of how many Bitcoins are produced in total in a month, it is easy to make simple calculations. If 3,600 come out in one day, there will already be 100,000 in a month . 

Now the prerequisite for getting Bitcoins is a special video card or heavy-duty expensive equipment. With the almost complete professionalization of mining, people using conventional PCs have found a way out in using collective methods of work. Special farms (pools) are a combination of the computing power of ordinary computers, the number of which determines how much Bitcoins will be mined and how they will be distributed among the resource participants.

 

Reliable high power protection

If the mined gold can be stolen, taken away from its owner, then with Bitcoin everything is much more complicated. In this regard, he is practically not vulnerable. After all, to crank up the virtual "theft of the century", hackers would need such powerful computers that simply do not exist in nature. After all, even the most powerful computer in the world is almost two thousand times weaker than all computers that are involved in the Bitcoin system. So, hardly anyone would dare to attack such an "impenetrable wall".

 

Production of digital money in descending order

How many Bitcoins have been produced today? During the first four years, 10 were received 500 000 Bitcoins. Every release of their next four years is reduced by half, then another 4 years produced - 5 250 000, and in the next 4 years - 2 625 000 or so on. By simple calculations, you can reach the year 2140, when, finally, the last 21 million will be released into the "light of God" - this will be the total final amount of Bitcoin. There is such a term "asymptotic", it is in this mode that the coveted number is approached - the planned production limit for this cryptocurrency. The limited resource is one of the main reasons for the growth in popularity and quotes for Bitcoin, which has every chance of becoming the main reserve and not only a global currency in the foreseeable future.      

 

Who will benefit?

As you know, the first Bitcoin users managed to buy them when they cost a penny. But in any case, they put their money at risk, because they invested in almost completely unknown technology at their own peril and risk. They now, of course, have a solid amount of this cryptocurrency.

They have become a pillar for the development of Bitcoin, and now we can talk about its future as a universal, decentralized currency of the world.

 

Bitcoin does not face inflation

One of the characteristic features of this cryptocurrency is its deflationary nature. Therefore, the question of how many Bitcoins are issued in total is not so relevant. Although, they can be subject to inflationary manifestations, only of a slightly different nature. This may be due to the fact that a certain part of the digital currency (about 4 million) lies without movement, the reasons for this are different: perhaps some are simply lost, others are frozen. By the way, the same happens with Satoshis coins, no one touches them, and the owner decided incognito to leave them dormant until 2020. If we consider how many Bitcoins have been produced today, namely about 16 million, then only 12 of them are in active circulation. 3600 new cryptocoins are added every day. You can easily determine the nominal inflation - 8%. After another halving of production, it will be 4%.

Inflation of different types of money is so different from each other that a new term would be appropriate here. But, since it is not there, we will discuss further.

It is not so important what the total number of Bitcoins is, because this does not in any way affect their behavior. It is with paper money that problems arise when, in a difficult period for the economy, the state decides to carry out additional emission and prints extra bills. The important thing is that the rate and capitalization of the popular cryptocurrency is steadily growing and it has already exceeded the $ 6 billion mark.

 

Is 21 million a lot or a little?

How many Bitcoins will be produced, it is clear - 21 million. But some are worried about the question, is it too small a sum on a global scale? When scientists and developers created this currency, which in its uniqueness is not inferior to any other, they even then foresaw everything. Including such questions: how many Bitcoins have been produced today, will they be enough for everyone, will the decision to limit the issue change? Even then, the creators understood perfectly well that at the same time they needed restrictions and a sufficient amount. So the decision was made to split Bitcoin into one hundred million, and this is how Satoshis bargaining chip appeared. It is clear that between the whole and its smallest particle there is an eternity - one hundred million. Therefore, to make it more convenient to appeal in terms, for example, in a business conversation, the following system of ratios of one Bitcoin to its constituent parts was adopted: 

1 = 1 Bitcoin.

0.01 Bitcoin = 1 centBitcoin.

0.001 Bitcoin = 1 millibitcoin.

0.000 001 Bitcoin = 1 microBitcoin.

0,000,000 01 Bitcoin = 1 Satoshi.

The issue of a limited number of Bitcoins and the end of their reproduction in 2140 worries many. After all, the following question arises from it: if a person loses his Bitcoin wallet, the crypto coins are considered lost forever, thus the number of digital coins can significantly decrease. But in fact, experts believe that nothing supernatural will happen, except for an increase in their value. Who knows, maybe this question will remain open. After all, any person tends to forget something and lose something. And if the trend towards a decrease in the number of Bitcoins leads to the "extinction" of the currency, like an endangered species of animals, of which there are only a few, then something needs to be done?

 

How is Bitcoin secured?

Why are there so many questions about the total supply of Bitcoins, as well as their value?

The concept of the value of this cryptocurrency is that it is used as a means of payment. We are used to hearing that money is only considered real when it is backed by gold. But times have changed, and many currencies are no longer backed by any gold. The same happens with Bitcoin. Their cost is determined by the price tags for goods in online stores. This is a kind of guarantee of exchange of goods for the amount of virtual money.

And the opinion that the cost of Bitcoins depends on the cost of the energy resources needed for mining is a deep misconception.

Given how unique this currency is, one should not even allow the thought that Bitcoin was listed in the "Red Book". Its popularity is too great, and it has serious grounds to oppose national currencies in the near future. And, perhaps, thanks to innovative technologies, it will become a connecting link between the currencies of all countries and will be a kind of conductor, leading to harmony and balance in the monetary world of the entire planet. There is no doubt that cryptocurrencies have a future and can change not only the financial, but the whole world for the better.