Bitcoin has been dug up 80% of total supply, bitcoin will be a hard currency

Bitcoin has been dug up 80% of total supply, bitcoin will be a hard currency

On the weekend of bitcoin ushered in its history the milepost moment, total flow flux of 80% bitcoin has been dug out, this also means that can dig only 20% bitcoin. First introduced the concept of digital scarcity in the village of the white paper, and soon the digital assets will be more and more difficult to get.

To be mined only 4 million 200 thousand bitcoin.

In 2018 January 13th, 16800000th bitcoins were dug out, this means that the number of bitcoins through mining obtained only 20% of the total. This code base in 2009 by Cong introduced to the public bitcoin supply of white paper, bitcoin has been limited. Bitcoin supply will not increase at the same time, Nakamoto this total is set to 21 million. So far, Nakamoto and white miners struggled to ensure the success of operation rules through the hash operation and will not be changed. However, in theory, some doubt that by 51% of the calculated force to attack or attacks and other means to manipulate the witch can increase the supply of bitcoin. With the development of the digital currency has experienced nearly ten years, no one can break the rules of 21 million of the total.

To solve the Byzantine Generals Problem

There is reason to believe that in the village to solve the equation for the most difficult problem — one of the Byzantine Generals Problem, it is a problem of security vulnerabilities decades of computer scientists. Usually, in the presence of distributed network in the problem, when the release process to bring some problems and security vulnerabilities will make the network more vulnerable. Because of this, it is very difficult to make the Treaty on the further proof, because in the network there is a proof of unsolved problems.

In the first bitcoin paper, Nakamoto introduced the mechanism of proof of work, it is a kind of economic means, through this method, can make the process of the attack on the network becomes very difficult, but this expensive and spend a lot of time. In the digital computing world, Nakamoto first introduced an asset, it can not be copied and will not be paid double. At the same time, he introduced the concept of digital scarcity, limited supply of bitcoin, which is in the field of science and technology on the There was no parallel in history.

Digital scarcity and a half

Because the supply of this encryption currency is limited, only 21 million pieces, which makes bitcoin will become increasingly scarce in it is more difficult to obtain. In most cases, when an asset is limited, at the same time and resources are difficult to obtain, the supply will lead to market demand. Bitcoin supply shows the quantity and to the man who bought it generated a huge amount of gap. Most of the bitcoin game player believes that the scarcity of digital will make bitcoin more valuable with time, especially now bitcoin has dug up 168 million pieces, it is more difficult to get.

In the process of mining because of the difficulty has been increasing, so the miners must always improve their work force. According to the current hash operation speed, the next time the Nuggets half awards will come in two years. This means that before each miners dug a block can get 12.5 bitcoins, and then becomes 6.25. Every four years the network consensus bitcoin mining half awards, making bitcoin more difficult to obtain, even for those in the world with a large amount of data for the deployment of the warehouse is the same. In order to continue to create profits, each participant in the process, including the ASIC technology itself need continuous improvement. Of course, bitcoin prices should be more than the money out of it.

Unlike Gerbaud 100 billion, bitcoin is only 21 million

We should consider another block chain in the observation in question is vast, the other 1300 kinds of encryption currency Nakamoto unlike existing invention, it is only 21 million. Other digital currencies have some circulation billions, through an unauthenticated share certificate mechanism also may supply billions were issued. Therefore, from the point of view of the nature of bitcoin invention creation is a kind of exchange of digital goods and today we compared the out of the ordinary. Unlike your MP3 or digital cinema, bitcoin can not be copied, by the end of last week, there have been 16800 bitcoins were dug out, there is a large number of bitcoins lost. For many encryption currency investors, any other things like the world, all of these make the Cong invention became a valuable digital assets.

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