Bitcoin is a decentralized and digital Cryptocurrency that has gained popularity around the world in recent years. One of the most common questions about Bitcoin is how many units of this currency currently exist and how many could exist in the future. In this article, we explore this question in detail.
Currently, there are around 18.7 million Bitcoins in circulation. The exact number of Bitcoins in circulation is constantly changing, as new Bitcoins are created every time a block on the Bitcoin blockchain is completed. Creating new Bitcoins is called mining, and it is a process in which miners use their computing resources to solve complex mathematical equations and validate Bitcoin transactions.
The total number of Bitcoins that can be created is limited to 21 million. This limit was set by the creator of Bitcoin, Satoshi Nakamoto, in the original Bitcoin protocol. The idea behind this cap is that by limiting the total number of Bitcoins that can exist, inflation can be prevented and ensure that Bitcoin’s value does not decline over time.
As the 21 million Bitcoin limit approaches, Bitcoin mining is expected to become more difficult and expensive, as more computing resources will be required to solve the mathematical equations required to create new Bitcoins. At this moment, more than 85% of the Bitcoins that can be created have already been created, which means that there are still around 2.3 million Bitcoins left to be created.
It is important to note that the number of Bitcoins in circulation does not always equal the number of Bitcoins that have been created. Some Bitcoins may be lost or permanently deleted due to technical errors. For example, the loss of private keys or hacking of Cryptocurrency exchanges. According to some estimates, around 20% of all existing Bitcoins have been lost in this way.
As the 21 million Bitcoin limit approaches, some Cryptocurrency experts suggest that Bitcoin’s value may continue to rise as supply becomes more limited. However, others believe that the value of Bitcoin will eventually stabilize once the limit of 21 million Bitcoins is reached. It is difficult to predict with certainty what will happen in the future, but what is clear is that the total number of Bitcoins that will exist will never exceed 21 million.
In summary, there are currently around 18.7 million Bitcoins in circulation, with a total limit of 21 million. As this limit approaches, Bitcoin mining is expected to become more difficult and expensive. It is important to note that some Bitcoins can be lost or permanently deleted, which means that the number of Bitcoins in circulation does not always equal the total number of Bitcoins that have been created. In any case, it is safe to say that the total number of Bitcoins that will ever exist will never exceed 21 million.
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Currently we do not know the exact date of when the last Bitcoin coin will be issued, since there are many factors that can influence the result, however some experts have agreed through calculations that the last bitcoin will be mined approximately in the year 2140.
There is really no one in control of issuing bitcoins, since bitcoins are created thanks to the blockchain system itself and thanks to the miners who are in charge of validating Bitcoin transactions in exchange for the new coins.
Yes, for the moment the limit of 21 million coins has remained this way since its creation, however the Bitcoin system does allow this limited number of coins to be changed through the consensus of all users.
