• Coins MarketCap
    • Coins MarketCap
    • Crypto Calculator
    • Top Gainers and Loser of the day
  • Crypto Exchanges
  • Bitcoin News
  • Crypto News
    • Cryptocurrency
    • Blockchain
    • Finance
    • Investing
    • View all latest Updates regarding crypto
Monday, February 6, 2023
WIREOPEDIA
No Result
View All Result
Contribute!
CONTACT US
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
WIREOPEDIA
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
No Result
View All Result
WIREOPEDIA
No Result
View All Result
Home Blockchain

90% Of All 21 Million Bitcoin Have Now Been Mined

wireopedia memeber by wireopedia memeber
December 12, 2021
in Blockchain, Crypto, Crypto Market, Cryptocurrency, Finance, Investing, Market
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

Once people, institutions, and governments start realizing how scarce Bitcoin is, a whole new level of FOMO will ensue.

You might also like

Over $76M invested in crypto funds in past 7 days

Digital Yuan Gifts In China During Holiday To Increase Adoption, Report Says

FTX Debtors Demand Return of Funds Given to US Politicians and Super PACs

Over 90% of the total amount of bitcoin that will ever exist has already been mined, according to data from the Clark Moody Bitcoin Dashboard. As the monetary network advances in awareness and usage worldwide, fueling an increased demand for BTC, a sudden and robust supply shock might become inevitable.

The Bitcoin network, the only form of digital cash that manages to solve the double-spending problem in a properly distributed and trustless manner, enforces a supply cap of 21 million coins through its consensus protocol, run by tens of thousands of nodes worldwide.

A predictable and unchangeable monetary policy is one of the core aspects that make Bitcoin appealing, especially in the face of the reality of fiat and “crypto” currencies — the supply and monetary policy of which can change based on the decision of a select few people.

The peer-to-peer (P2P) electronic money is sound, contrary to soft fiat money. Nobody has the power to inflate the supply of bitcoin the same way nobody can reduce it. The Bitcoin network is “rules without rulers,” and the rules are written in stone.

We Are Still Early

Although “we are still early” has become a meme, it is most likely true. Only a tiny subset of society understands what Bitcoin is and its potential for empowering regular citizens. People living in privileged communities that enjoy high levels of freedom and individual rights can be quick to dismiss Bitcoin; however, the P2P cash system can also empower them.

Bitcoin is most often a different thing for different people. For instance, it might function as a store of value for someone living in the U.S. or the U.K., where inflation isn’t soaring but still erodes purchasing power over the years. On the other hand, for someone living in Palestine or Cuba, where war and totalitarianism are commonplace, Bitcoin might be their only hope of finding financial freedom.

The broad use cases for Bitcoin around the world demonstrate its versatility and the many ways it can benefit different people in different ways. Still, most people haven’t yet realized how Bitcoin can empower them.

The predictable issuance of new bitcoin keeps being triggered every ten minutes on average as another block is mined, irrespective of the level of understanding people may or may not have about the monetary network.

Tick-Tock, Supply Shock

With more than 90% of the Bitcoin supply already issued, scarcity is even more evident now. Although issuance doesn’t determine liquidity, as already-issued coins can and often are traded on the market, the truth is most of the circulating bitcoin supply is held by entities with little or no history of selling.

A report from December 2020 by data analytics firm Glassnode tried to gauge and shed some light on the liquidity of the Bitcoin supply. It analyzed “Bitcoin entities” and classified them into three liquidity categories: highly liquid, liquid, and illiquid.

“Our methodology suggests that currently 14.5 million BTC (78% of the circulating Bitcoin supply) is held by illiquid entities,” the report said.

Although issued bitcoin can be traded on the market, most of it is held by people with no intentions of selling it. The “HODL” meme is strong in the Bitcoin community, and many are dedicated to holding onto their BTC until hyperbitcoinization — when they will be able to spend rather than sell as Bitcoin reaches full monetization and becomes a unit of account.

But much of the yet-to-be-issued supply isn’t very much liquid either. Some of the largest public bitcoin miners in the world have been embarking on the HODL bandwagon this year. Canadian miner Hut 8, for instance, has deposited all the 256 BTC mined in November into custody. It holds 5,242 bitcoin in reserve as of November 30, 2021.

Once people, institutions, and governments start realizing how scarce Bitcoin is, a whole new level of FOMO (fear of missing out) will ensue. A supply shock might become inevitable because there is not enough supply to accommodate a sharp rise in demand from big players like hedge funds and central banks, triggering soaring prices until the complete collapse of the U.S. dollar.

Read Entire Article
Tags: BitcoinmagazineBlockchainCoin SurgesCryptocurrenciesMarket StoriesTrading
Share30Tweet19
wireopedia memeber

wireopedia memeber

Recommended For You

Over $76M invested in crypto funds in past 7 days

by wireopedia memeber
February 6, 2023
0

A total of $76 million was invested in digital asset products during the week of January 30 to February, according to a CoinShares report The post Over $76M...

Read more

Digital Yuan Gifts In China During Holiday To Increase Adoption, Report Says

by wireopedia memeber
February 6, 2023
0

Recent events in China indicate the country’s paradigm shift concerning digital currency The digital yuan (e-CNY) is gradually forming a significant part of the Chinese currency through its

Read more

FTX Debtors Demand Return of Funds Given to US Politicians and Super PACs

by wireopedia memeber
February 6, 2023
0

FTX debtors are seeking to claw back millions of dollars given to US political action committees (PACs) and political figures Confidential letters have been sent to individuals and...

Read more

BSV Price Prediction: Will It Survive this Consolidation Phase and Break Above $50?

by wireopedia memeber
February 6, 2023
0

Over the past month, cryptocurrencies have been growing in value However, Bitcoin SV (BSV) price has been consolidating inside the horizontal price bracket region The

Read more

Community votes to deploy Uniswap v3 on Boba Network

by wireopedia memeber
February 6, 2023
0

Enya Labs co-founder Alan Chiu said that the move will allow developers to build on and off-chain DeFi applications on

Read more
Next Post

People Are Explaining Their Attraction To Pete Davidson, And I Agree With Quite A Few Of These Myself

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

MakerDAO deploys on layer-2 network StarkNet to enhance functions of DAI stablecoin

April 20, 2022

Graham walks out of hearing after sparing with Durbin over Gitmo detainees

March 22, 2022

Bitcoin Price Prediction for Today April 25: BTC Gradually Slides to $37K

April 25, 2022

Browse by Category

  • Blockchain
  • Breaking News
  • Business
  • Crypto
  • Crypto Market
  • Cryptocurrency
  • Defense
  • Entertainment
  • Finance
  • Health Care
  • Investing
  • Market
  • Politics
  • Strange
  • Technology
  • UK News
  • US News
  • World
WIREOPEDIA

Wireopedia is an automated news feed. The Wireopedia AI pulls from sources with different views so you can see the various sides of different arguments and make a decision for yourself. Wireopedia will be firmly committed to the public interest and democratic values.

Privacy Policy     Terms and Conditions

CATEGORIES

  • Blockchain
  • Breaking News
  • Business
  • Crypto
  • Crypto Market
  • Cryptocurrency
  • Defense
  • Entertainment
  • Finance
  • Health Care
  • Investing
  • Market
  • Politics
  • Strange
  • Technology
  • UK News
  • US News
  • World

BROWSE BY TAG

Bitcoin Bitcoinist Bitcoinmagazine Blockchain Blockonomi Breaking News Business BuzzFeed Celebrity News Coin Surges Cointelegraph Cryptocurrencies Cryptoslate Defense Entertainment Health Care insidebitcoins Market Stories newsbtc Politico Skynews Strange Technology Trading UK US World

RECENT POSTS

  • Dramatic rescues in Turkey and Syria amid growing fears over the safety of buildings
  • ‘A wonderful teacher and delightful person’: Colleagues pay tribute to head found dead with daughter and husband
  • Police officer raped by Carrick says colleagues would have ‘laughed’ if she reported it
  • Over $76M invested in crypto funds in past 7 days
  • Digital Yuan Gifts In China During Holiday To Increase Adoption, Report Says

© 2022 WIREOPEDIA - All right reserved.

No Result
View All Result
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
  • Contribute!

© 2022 WIREOPEDIA - All right reserved.

  • bitcoinBitcoin(BTC)$22,962.00-0.71%
  • ethereumEthereum(ETH)$1,642.91-0.12%
  • tetherTether(USDT)$1.000.03%
  • binancecoinBNB(BNB)$328.120.35%
  • usd-coinUSD Coin(USDC)$1.00-0.11%
  • rippleXRP(XRP)$0.399060-0.32%
  • binance-usdBinance USD(BUSD)$0.99-0.54%
  • cardanoCardano(ADA)$0.3929500.74%
  • dogecoinDogecoin(DOGE)$0.091967-0.02%
  • matic-networkPolygon(MATIC)$1.220.56%
  • okbOKB(OKB)$44.36-0.16%
  • solanaSolana(SOL)$23.30-1.31%
  • shiba-inuShiba Inu(SHIB)$0.000014-0.77%
  • staked-etherLido Staked Ether(STETH)$1,638.94-0.08%
  • polkadotPolkadot(DOT)$6.700.77%
  • litecoinLitecoin(LTC)$96.87-0.08%
  • avalanche-2Avalanche(AVAX)$20.22-0.17%
  • tronTRON(TRX)$0.063630-1.31%
  • uniswapUniswap(UNI)$6.83-1.35%
  • daiDai(DAI)$1.00-0.04%
  • cosmosCosmos Hub(ATOM)$14.42-0.34%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,913.00-0.60%
  • chainlinkChainlink(LINK)$6.96-0.50%
  • bitcoin-cashBitcoin Cash(BCH)$133.48-0.80%
  • stellarStellar(XLM)$0.091232-0.41%
  • crypto-com-chainCronos(CRO)$0.080846-1.32%
  • nearNEAR Protocol(NEAR)$2.38-0.30%
  • filecoinFilecoin(FIL)$5.310.82%
  • algorandAlgorand(ALGO)$0.2597900.37%
  • vechainVeChain(VET)$0.024341-0.15%
  • axie-infinityAxie Infinity(AXS)$10.960.00%
  • elrond-erd-2MultiversX(EGLD)$44.99-0.37%
  • terra-lunaTerra Luna Classic(LUNC)$0.0001841.65%
  • compound-ethercETH(CETH)$32.89-0.28%
  • terrausdTerraClassicUSD(USTC)$0.0322901.01%
  • ftx-tokenFTX(FTT)$1.91-20.60%