The world will never be the same since the first bitcoin appeared. The constant evolution of finance has led to a new form of currency, developed by an unknown man and supported by a group of the brightest minds in the field of technology.
BTC is a digital currency, also known as cryptocurrency, emerged after the financial crisis and is not backed by a central bank. It allows people to bypass banks and other traditional options to pay for products and services - which is why investors love the idea, as its price soared more than 900% 2017, and purchases became available on sites like J2TX.
Investing in Ethereum is not left out of the equation, just like in tokens, but not about that now. It is more important to know how many bitcoins will ever be created.
In history, it has exists since the beginning of 2009, but the year BTC was created does not reflect the actual age of the technology itself, which has deeper roots.
Earlier tries have also been made to create an online currency using registers protected by classified. Two instances are B-Money, Bit Gold, which attempted to be formed but remained incompletely developed.
2009 BTC software first becomes accessible to the public, the development process begins with the creation of new BTC’s-moneys, operations records, and blockchain verification. In truth, when investing at least the same conditional thousand dollars, when BTC was created, when it was worth less than $0.001, you would now be $51 million richer.
The creator of bitcoin is known by the alias Satoshi Nakamoto, but his personality remains anonymous. His accounts are inactive and his wallet has never been involved in deals.
When the currency has reached its maximum value, he made the list of the 50 richest people in the world. Finding the creator of BTC was a tool for speculation on a global scale in 2008, when incognito posted official documentation on the Web detailing the technological breakthrough in using BTC.
Since then, a number of people have been suspected to be behind it. Desperate sleuths have even identified Tesla CEO Ilon Musk as the inventor.
There is a theory that whoever created BTC is a group of people, including Neil King, Vladimir Oxman, Charles Brees. They applied for a secure communications patent just as BTC was being constructed, two months before they bought the domain Bitcoin.org.
Maybe that's just a coincidence. So who invented bitcoin and why is not known for certain - and how many people were involved - but it is clear that with its invention a whole new era began - the era of monetary autonomy.
A long time ago, 12 years ago, a certain Nakamoto, living in Japan, posted material on the Internet regarding a new form of digital assets - crypto coins. Which were positioned as the latest technology and a real breakthrough in the field of settlement, and which were created with the expectation of the central banks of all countries of the world. Following from the code, new assets (now we take into account Bitcoins) are built using the most complex stages of calculations implemented on the Internet. For this, super-powerful computers are used.
First and foremost, humanity transferred BTS between each other purely out of curiosity, to see how and what happens to the assets when they are transferred. The first time such assets were paid for a physical commodity was in 2010. The one who spent crypto for the first time was a certain Laszlo Haniez, who bought himself a pizza for an incredible 10,000 bitcoins! Instead, he got a pizza for $25. This was the first historically entrenched exchange between on-net assets and real values (physical).
For some time there were no exchanges or P2P so that you could freely exchange your assets for something of value, but after a few years appeared the first BTC service - Mt. Gox, that derived from already existing domain mtgox.com. That's how the first cryptocurrency coin exchange appeared in 2007.
Already by 2014 Mt. Gox was providing transactions up to 70% of all asset owners, but the creators were not ready for this and a huge financial then destroyed the system. The exchange had to suspend its activities in the same year because of the hack, at the same time the owners lost an incredible 744 thousand BTS.
Nevertheless, the hype around this kind of assets did not subside, and so did the growth in the number of platforms for transactions with them. 03.01.2019 BTS has already turned 10 years since its foundation, and the price has increased thousands of times.
Now the asset continues to grow rapidly and how many bitcoins will ever be created yet is not known for sure.
The network was designed to have a fixed supply of twenty-one mln. coins, with more than half already produced. A BTC creator is thought to have a million coins or about 4.75% of the total supply (21 million).
The process of obtaining cryptocurrency is called mining. Miners are people who help users trade cryptocurrencies with each other. The miners form a network that captures these transactions on the blockchain.
The mining process itself is made artificially labor-intensive to secure transactions. Thus, more and more power is required, for which miners breed so-called farms - blocks of computers from which BTCs emerge. They solve the algorithms of the network, contain a program file with all the information (i.e. transactions).
How many more assets will be created? There is no single answer to such a difficult question, but already now, following from the available forecasts and based on the analysis, we can conclude that only 10% of the total amount of uncreated Bitcoins remains.
To study why BTS cannot be issued more than the final amount calculated by experts and how the value of coins will grow, it is necessary to look back.
At the time of this writing, there were just over 18.6 million BTS in world circulation, or 88.66% of the available 22 million. It follows that only 2.5 million coins remain to be built. Nevertheless, the complexity of the mathematical model makes it possible to stretch the creation process for another 119 years.
Following from the block and issue schedules, all coins will be sold and released into circulation by 2140. And at the same time, four-year time intervals will reduce the number of possible mining operations by up to 50%.
Today, one block includes 6 thousand 250 BTS, and mining requires only twenty minutes of time. Within three years, this value will drop to 3,135 Bitcoins in one block.
Such functionality (decreasing x2) provided the creation of a variety of pricing systems, for example, the ratio of available stocks to flow (C2F).
The shortage of coins ensures stable demand, and this is also very clearly demonstrated by the behavior of funds (institutional), which unrestrainedly acquired digital coins in huge batches. If we assume that BTS is used as a hedging opportunity in the fight against the policy of printing fiat funds (physical) or adding liquidity to the economy, then such funds or other players in the market are highly likely to keep the asset to the last, ensuring a shortage of coins and an increase in its price.
Will BTC ever be worth over a hundred thousand dollars by the end of this year? How many bitcoins will ever be created? We will find out very soon!
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