Today, the genesis block, also known as the first bitcoin, was mined by Satoshi Nakamoto 14 years ago. Millions of blocks have been mined into the blockchain by bitcoin miners since the currency's creation. It was created as a substitute for centralized fiat money, which bitcoin is decentralized.
History indicates that the first block was mined almost instantly because it had a difficulty of 1. Unlike the vast majority of Bitcoin blocks today, the genesis block was almost certainly mined by a computer using its central processing unit (CPU).
As of June 2022, there were roughly 19.07 million Bitcoins in use. Accordingly, only 1.92 million Bitcoins are available for mining, and more than 90% of all Bitcoins are already in circulation. According to experts, the last bitcoins will be mined by 2140.
We still have a long way to go before we can completely mine the entire bitcoin blockchain. Despite the controversy, bitcoin is still prevailing and gaining global awareness, with the hope of being accepted globally in the coming years.
https://www.blockchain-council.org/cryptocurrency/how-many-bitcoins-are-left/
https://learn.bybit.com/crypto/21-million-bitcoin-limit-mined/
History indicates that the first block was mined almost instantly because it had a difficulty of 1. Unlike the vast majority of Bitcoin blocks today, the genesis block was almost certainly mined by a computer using its central processing unit (CPU).
As of June 2022, there were roughly 19.07 million Bitcoins in use. Accordingly, only 1.92 million Bitcoins are available for mining, and more than 90% of all Bitcoins are already in circulation. According to experts, the last bitcoins will be mined by 2140.
We still have a long way to go before we can completely mine the entire bitcoin blockchain. Despite the controversy, bitcoin is still prevailing and gaining global awareness, with the hope of being accepted globally in the coming years.
https://www.blockchain-council.org/cryptocurrency/how-many-bitcoins-are-left/
https://learn.bybit.com/crypto/21-million-bitcoin-limit-mined/
I've never expected a digital currency without a central authority to get this far. At least, that's what I've thought in my early days. Now that Bitcoin has survived for 14 years, I think it will eventually replace Fiat as the global medium of exchange (or at least make a huge impact over the global economy). With a deflationary mechanism built onto the blockchain, BTC should go up in price over time. It's the future of money after all.
If Bitcoin has achieved a lot in just 14 years, imagine how big it will become within 1 to 2 decades from now. It could reach a level of mainstream usage beyond compare. Who knows what surprises will BTC come up with each block reward halving? Just my thoughts
