Quote from: CryptoHeadlineNews on April 04, 2023, 09:25:34 PM

Quote from: Diiriye on April 01, 2023, 08:48:46 AM

As we all know BITCOIN mining will stop once the 21 million mark is reached. According to the information we have 19 millions coins were mined and now circulating. The remaining balance is about 2 millions to be mined. Why it is not possible to mine the remaining BITCOINS before 2140 when the 19 millions mined in just over 10 years?

The image below gives a clear reason why it will be very difficult to mine the remaining 2 million Bitcoin before 2140, because after each halving, the reward for mining is divided into half, of which the first reward for mining Bitcoin was 50 BTC in 2009, and 4yrs later after 2012 halving, the reward got divided into half I.e 25 BTC, and likewise 2016 and 2020 halving reward, including next year's halving which its reward is expected to be 3.125 BTC.

Why after next year's halving, the next are as follows;
2028 = 1.5625 BTC
2032 = 0.78125 BTC
2036 = 0.390625 BTC
2040 = 0.1953125 BTC
2044 = 0.09765625 BTC
2048 = 0.048828125 BTC
2052 = 0.0244140625 BTC
2056 = 0.01220703125 BTC
2060 = 0.006103515625 BTC

Bitcoin mining now requires a lot of patience because at the current rate of Bitcoin mining, it is difficult to raise the mining cost. There are many bitcoin miners in the world, not one or two miners, and only a certain amount is mined for each block, so it is not profitable to mine now. Yet many mine to fulfill their hobby. The supply and demand of Bitcoin is very negligible right now so it is a great opportunity for us to save Bitcoin for the future. 0.0244140625 BTC will be mining rate when we start living around 2050. Then the price of Bitcoin will skyrocket. And those of us who are now failing to save bitcoins will just be hollering then