This weekend marks an important step in the Bitcoin, since 80 % of the digital currency has been put into circulation, which means that there are not more than 20 % to operate. The protocol Satoshi Nakamoto was the first to introduce scarcity to digital and this technology will soon be even more difficult to obtain.
Here are details regarding this news :
More than 4.2 million of Bitcoins to be extracted
So far, 16 800 000 Bitcoins have been mined and it remains only 20 % to operate for the miners. When Satoshi Nakamoto introduced the protocol of Bitcoin to the public at the launch of Codebase in 2009, the crypto-currency is arrival up with an offer capped. The offer may not exceed the ceiling of 21 million Bitcoins. Up to now, the plan of the creator of this crypto-currency and the miners who secure the network, have failed to ensure that this rule does not change.
Source : Pixabay, the scarcity of Bitcoin.
However, skeptics believe that there could be a way to increase the supply through manipulative tactics such as the Sybil. No one has been able to violate the rules of 21 million cap of the offer, since its inception. We are therefore expecting to see the price of this digital currency to climb due of this scarcity.
In contrast to the 100 billion Ripple, there will only be 21 million Bitcoins
Another thing to consider in looking at the vast environment of the Blockchain is that the creation of Satoshi in contrast to the 1,300 other crypto-currencies existing, is limited to 21 million units. Other digital currencies have already billions in circulation, and this figure is expected to increase. The inventor of Bitcoin has created something unique and various digital assets that we trade all today.
Unlike your MP3 or digital movies, the Bitcoins may not be copied, and this weekend, nearly 16.8 million of them have been mined. For many investors, this makes the invention of Satoshi is a digital asset very valuable.
Source : NewsBitcoin