After the 18 million bitcoins were dug up: these “18 million” milestones are also worth remembering

Source: Shallot blockchain
Beijing time last Saturday (October 19) 08:04, bitcoin block height reached 600,000, the 18 million bitcoin was officially dug out, which also means the upper limit of the bitcoin is set, left It has already been less than 3 million.

In response to this "milestone event", data company Glassnode pointed out that from the birth to the 18 million bitcoin was dug up, it took a total of 3,935 days, and in the ten years before the official arrival of the day, Bitcoin actually A number of “18 million milestones” have also been completed. Glassnode uses a chart to sort out the specific time spent on these "18 million" worth remembering:

which is:

654 days, the chain trading volume reached 18 million BTC

828 days, the chain transaction amounted to 18 million US dollars

841 days, the total market value of Bitcoin reached 18 million US dollars

880 days, the transaction amount on the single-day chain reached 18 million US dollars

1336 days, the transaction volume on the single-day chain reached 18 million bitcoins

1370 days, creating 18 million transfer output

1409 days, consume 18 million transfer output

1890 days, completed 18 million transactions on the chain

1710 days, Bitcoin network wallet address reached 18 million

2880 days, the mining fee paid by Bitcoin network reached 18 million US dollars

3094 days, the number of wallets with Bitcoin reached 18 million

3935 days, the 18 million bitcoins were dug up In just ten years, Bitcoin has jumped from the first line of code to become a new asset that is widely recognized around the world. Behind one after another, "18 million" is the imprint of Bitcoin's growth step by step. Perhaps objectively speaking, Bitcoin distance is indeed a very distant "digital gold". However, bitcoin has emerged as a new asset in the early days of its value growth, and its growth rate far exceeds the expectations of everyone eight years ago or even five years ago. It can be seen that the bitcoin distance from the traditional financial market may not be as far as I imagined.

However, with the 18 million bitcoins being officially dug up, the current maximum number of bitcoin distances has been reduced to less than 3 million. Based on the current mining efficiency, Bitcoin will halve the third reward in history after about 206 days, when the block reward will be reduced from the current 12.5 to 6.25.

This also means that the current mining unions in the Bitcoin network are facing a situation in which mining incentives are discounted when the difficulty is further increased. Not long ago, I have experienced similar conditions such as Litecoin, BSV and XRP. The public data has already shown signs of some miners fleeing. After Bitcoin officially completed the reward reduction in the next year, the mining unions will flee. ? Will the momentum of the rapid development of the entire digital currency market represented by Bitcoin be significantly slowed down? Maybe only time will give an answer.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Market

The Philippines Unveils Plans for Wholesale CBDC, Taking a Different Path

The Philippines is embarking on a unique CBDC journey that distinguishes it from other countries, offering new opport...

Blockchain

Dfinity and SingularityNET Collaborate to Unleash the Power of Blockchain and AI

Dfinity Teams Up with SingularityNET to Drive Decentralized AI on ICP

Policy

Coinbase Urges SEC for Swift Action on Crypto Regulation

Coinbase urges SEC to take swift action in creating regulatory guidelines for the cryptocurrency industry.

Finance

🚀 Bakkt’s Financial Crisis: A Test of Survival 🤔

Bakkt, a cryptocurrency company backed by Intercontinental Exchange (ICE), is taking steps to address financial chall...

Bitcoin

Tesla's Crypto Clout Q3 2023 Earnings Report Reveals Bitcoin Still in the Driver's Seat

Tesla has refrained from using its significant Bitcoin (BTC) reserves for five consecutive quarters as an electric ve...

Blockchain

Midas: When Traditional Finance Meets Crypto

Fashionista, get ready for the latest in fashion and finance! The Midas stablecoin is making waves in the DeFi world ...