85% of coins mined on Bitcoin network

Data from the Blockchain resource monitoring service show that on August 1, Bitcoin miners mined 17,850,000 coins, which is more than 85% of the total issue. Since the reward for the block gradually decreases, and the number of transactions per block increases, the remainder will be released only in 2140.

As we know, Bitcoin emissions are limited to 21,000,000 coins. As soon as the network reaches this limit, no more BTC will be mined. This is the essence of the deflationary model.

The current turnover of bitcoins means that only 17.8 million people can have one coin at a time, while some of the coins are considered lost.

According to estimates published by Chainalysis in 2017, more than 20% of the total BTC emissions could be lost.

“Soon there should be a shortage,” cryptotrader Rhythm tweeted.

Bitching bitching will be held next May, at the same time the mining award will be reduced to 6.5 BTC. Thus, miners will need more electricity to process the same number of transactions. In addition, this will lead to a shortage of cryptocurrency.

According to industry experts, the deficit will increase the demand for an asset just as for precious metals — silver and gold. Filb Filb expert believes that after this the price of bitcoin will not fall below $ 6,500, as miners will do everything possible to optimize their profits.

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