On April 1, 2022, the 19 millionth anniversary bitcoin was mined. It happened on block 730 002.
At the moment, 90.48% of the possible number of coins have been mined. Recall that this is 21 million BTC.
When was it before?
The first 50 bitcoins appeared on January 3, 2009.
17 million coin mined April 26, 2018.
18 million coin mined October 19, 2019.
A little about the principle
Based on the algorithm created by Satoshi Nakamoto, the reward decreases by 50% every 210,000 blocks. According to preliminary estimates, a new halving is expected in 2024.
What happens when all bitcoins are mined?
Definitely the network will not collapse. In addition to mining rewards, miners receive a commission for processing transactions. With the decrease in the reward for calculating new blocks, the transaction processing fee will increase along with the value of bitcoin.
