Is The Number of Bitcoins Finite?
Thousands of people are registering to Bitcoin’s network each day, hoping to make a profit. After all, there are numerous stories of how Bitcoin managed to change the lives of average people. Not only that but thanks to Bitcoin trading, more than 100,000 people in the world have become millionaires.
One of the biggest questions that surround Bitcoin is whether the number of Bitcoins is limited. Research has shown that the total number of Bitcoins is 21 million. We are going to take a deeper look into that topic and see what that means. Let’s dive into the details.
How Are Bitcoins Released In The Network?
Bitcoins are released in the network through a process called mining. In mining, you solve various complex puzzles. The goal of it is to record and verify transactions made with this cryptocurrency. The math here is simple – the more transactions you record; the more Bitcoins you will receive as rewards.
Each transaction that you record successfully, becomes a block and is integrated with Bitcoin's blockchain. Mining Bitcoin is beneficial for two reasons – first, it helps maintain Bitcoin’s stability while also rewarding.
Where Are They Traded?
The biggest reason why over 5 million people use Bitcoin is the fact that they can make a profit out of it. Not only is its current price around $40,000, but experts believe that it can go as high as $100,000. But where can you sell them?
The answer is trading sites such as Bitcoin Era. To gain access to the services at this trading site, you just need to register. The process is fast and simple and people of all age and skill can complete it. After you’ve registered and verified your identity, you will even be able to use the featured AI system which analyzes the market and helps you maximize your profits made with Bitcoin.
When Will The Process Of Releasing Bitcoins Stop?
As mentioned earlier, the number of Bitcoins is limited. That means that we won’t be able to mine it forever. There is an expiration date to that process. Analysts have stated that even though halving events are controlling the flow of Bitcoins and are taking place every 4 years, 99% of all Bitcoins will be mined and released into the network in 2032. As for the rest 1%, it will be mined in 2140.
How Will That Affect Its Price?
There are two possible outcomes of the finite number of Bitcoins and them being 100% mined and released into the network. The first scenario is that Bitcoin will finally stabilize itself and reach a normal volatility rate. Its value would still be big, but it wouldn’t be subject to daily changes.
The second and most likely scenario is that Bitcoin will sky-rocket in its value and here’s why. One key factor that influences the price of Bitcoin is supply and demand. So, while the demand for Bitcoin will likely remain the same, the supply will be extremely limited, as some people might not even be willing to sell their assets. Hence, Bitcoin might even reach a price tag that exceeds $1 million.
The fact of the matter is that it is impossible to determine what the future holds for Bitcoin, hence it is impossible to determine whether its value will rise, fall, or remain stable. Maybe Bitcoin will be legalized and regulated, maybe not. Maybe the way that his cryptocurrency is regulates itself will be changed.
There are so many things that come to our mind and all of them are possible. After all, if there is one thing that Bitcoin managed to prove to us, is that anything is possible.