Do you know how many bitcoins are mined annually? And why is it important?
To understand the numbers, you need to understand this first:
After every 210.000 blocks mined, or roughly every four years, the block reward given to Bitcoin miners for processing transactions is cut in half. This cuts in half the rate at which new Bitcoin is released into circulation. This is Bitcoin's way of using a synthetic form of inflation that halves every four years until all Bitcoin is released and is in circulation.
Now let's see the phases, and the number of bitcoins mined in these phases:
1st Phase – 2009-2012
2.6 million BTC mined each year.
2nd Phase – 2012-2016
1.3 million BTC mined each year.
3rd Phase – 2016-2020
0.6 million BTC mined each year.
4th Phase – 2020-2024
0.3 million BTC mined each year.
5th Phase – 2024-2028
0.16 million BTC mined each year.
As supply decreases and demand grows, guess what's most likely to happen to the price of bitcoin.
You are early.
submitted by /u/Weaver96