Ok i just wanted to let people about Bitcoin and the mining of the coin just in case they are just blindly going out and jumping into all the mining platforms trying to buy before the hashrate goes up. Here are some important facts you need to consider.
Bitcoin is only going to allow 21 million bitcoins to be mined and then there will never be another bitcoin mined, ever!
This is what makes the value go up and hold. If you could mine unlimited bitcoins the price would never have gone up so high. So they are getting more and more rare just like gold. if you could dig all the gold up you wanted unlimited it would not be worth much.
There have been 17,234,613 bitcoins mined so far, so that means that only 3,765,388 more bitcoins will be mined and no more mining will be possible. No one can change this. it has been built into the program in the cloud that no one can change. So do not buy into the mining platforms and don't buy expensive mining equipment that will nt last. Of course you can still mine other coins like ethereum, litecoin ect ect until their limits are up and then trade them for bitcoins but you will never mine bitcoins again once the 21 million are mined.
Also the mining difficulty gets harder and harder as we get closer to the end so expensive mining equipment is the only thing that will work now. At the start you could mine many bitcoins from a software you could download onto your computer but those days are long gone and if you tried to use that software now the difficulty has gotten so hard it would take you about a thousand years just to mine one bitcoin.
Also there is what is called the halfling that doubles the bitcoin difficulty every 4 years and the next halving is going to happen in about one year and 8 months. i remember the last time it halved when bitcoin profits fell to one half of what you could earn in the mine platforms overnight. many of these mining platforms ran off and closed their doors leaving many people without their money they invested. So have fun being a pioneer of this new economy but please be careful how you go into it. there will be many scammers out there trying to get your money rite before the mining stops. Bitcoins are already very hard to get noe and thy are trying to collect as many as they can while they can. Even the scammer will have problems getting these coins in a couple years. Don't let them have them. Ok just wanted to educate anyone that did not know so they could be ready for whatever comes. Her is a chart of all the current statistics as of the day i wrote this.
Bitcoin Block Reward Halving Countdown
Here is the address for the halving clock and the mining statistics if anyone wants to bookmark it and keep track of it. Bitcoins will easily go to a million dollars once this 21 million coins is mines for sure. You will start seeing unbelievable price jumps on may 22 2020. remember who told you this.
http://www.bitcoinblockhalf.com/
Reward-Drop ETA date: 22 May 2020 08:09:00
The Bitcoin block mining reward halves every 210,000 blocks, the coin reward will decrease from 12.5 to 6.25 coins.
Total Bitcoins in circulation: 17,234,613
Total Bitcoins to ever be produced: 21,000,000
Percentage of total Bitcoins mined: 82.07%
Total Bitcoins left to mine: 3,765,388
Total Bitcoins left to mine until next blockhalf: 1,140,388
Bitcoin price (USD): $6,736.70
Market capitalization (USD): $116,104,414,028.75
Bitcoins generated per day: 1,800
Bitcoin inflation rate per annum: 3.89%
Bitcoin inflation rate per annum at next block halving event: 1.80%
Bitcoin inflation per day (USD): $12,126,060
Bitcoin inflation until next blockhalf event based on current price (USD): $7,682,448,471
Total blocks: 538,769
Blocks until mining reward is halved: 91,231
Total number of block reward halvings: 2
Approximate block generation time: 10.00 minutes
Approximate blocks generated per day: 144
Difficulty: 6,727,225,469,723
Hash rate: 56.36 Exahashes/s
