Bitcoin is about to reach an important moment in its history. The 20 millionth Bitcoin is expected to be mined somewhere in the world very soon. There will be no official announcement about this milestone, but it will still be a very significant event.
The Bitcoin mining network, launched on January 3, 2009, has been running continuously since then. According to blockchain data, about 19,997,000 Bitcoins had already been mined by early March.
Miners currently produce around 450 new Bitcoins each day, so experts believe the 20 million mark will likely be reached between March 11 and March 15.
As per the protocol set in the beginning, only 21 million Bitcoins can ever exist. This means that once the 20 millionth coin is mined, only one million Bitcoins will remain to be created.
However, these last coins will take more than a century to mine. The final Bitcoin is expected to appear around the 2090s, and the smallest unit of Bitcoin, called a satoshi, could be mined around 2140.
Another important point is that not all Bitcoins are available. Researchers estimate that between 2.3 million and 3.7 million BTC may already be lost.
Many people forgot their wallet passwords, lost their devices, or passed away without sharing access. Even the estimated 1.1 million Bitcoins owned by Bitcoin’s mysterious creator, Satoshi Nakamoto, have never moved.
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