When it comes to Bitcoin, many unanswered questions go around.
People who have been into crypto literally for weeks go about answering these questions doing no amount of good in the world. I have been to many local meetups also where they talk utter shit that too backed by any facts.
That’s why at TheMoneyMongers, we aim to answer some of the most asked questions in the most direct way without beating around the bush.
Today’s important question that we feel worth addressing is about,’ how many bitcoins are there? What’s there status? How much has been lost and how much left?
So let’s jump right into the muck to answer these things:
How Many Bitcoin Are There Right Now?
There are 17,832,762 BTC right now in circulation and every 10 minutes newly mined 12.5 BTC enter the system. The supply of newly mined coins is also going to half to 6.25 BTC in coming days due to Bitcoin halving scheduled in 2020.
How Many Bitcoin Will Ever Be created
The total number of Bitcoin supply is hard-capped at 21 million so there can be no more than 21 million Bitcoin. But this 21st millionth coins will be mined in the year 2140.
How Many Bitcoins Have Been Mined?
Less than 55,000 blocks remaining until the May 2020 halving, where block reward will halve from 12.5 BTC to 6.25 BTC.
— 1in21million.club (@1in21million) May 8, 2019
Bitcoin network’s heartbeats every 10 minutes and in a day 1800 new coins are mined. This happening since 2009 each day and 99.99% of the time Bitcoin’s blockchain has remained functional.
So with this rate 17,832,762 BTC coins have been mined, which is 84.9% of the total supply.
How Many Bitcoin Are Left To Mined?
Total #Bitcoin Mined
— Jacob Canfield (@JacobCanfield) July 21, 2019
If you go by the number listed above, 84.9% is already mined. So close to 15% supply of Bitcoin is yet to be mined. If you crunch some numbers, you will find exactly 3,167,238 BTC is, however, to be mined.
The most amazing thing to note here is, in the 10th year of Bitcoin, we have already mined 85% of the total supply leaving only 15% for the remaining 151 years until the year 2140.
How Many/Much Bitcoins Is Lost Or Has Been Lost?
This is a vital metrics, and with time, it will become even more significant. It will be factored in finding the right price of Bitcoin.
There is no concrete way of calculating how many bitcoins are lost, but some empirical research has helped in approximating the total number of coins lost.
According to a study done by Chainanlyis in 2017, 3.79 million bitcoins are already gone for good based on a high estimate—and 2.78 million based on a low one. Whereas Unchained Capital did a recent study in 2018 where it estimated 2.78–3.79M BTC are lost.
We average out and believe that 3.5 million coins are lost then we are effectively reducing the available supply to 14.3 million coins only.
How Many Bitcoins Does Satoshi Have?
There is a confusion on Satoshi Nakamoto’s holdings because some believe he has 1 million coins and some believe he has 300 k coins locked up which have never moved till date.
But according to an empirical study done in 2010, it is believed that Satoshi’s actual Bitcoin holdings are around 980,000 BTC, which is close to 1 million coins.
How Many Bitcoin In A Dollar?
Bitcoin rate keeps changing in the dollar, and the reason is just that the dollar is the world’s reserve currency and the most popular one in which all goods are measured.
You can keep an eye on how much bitcoin you will get in a dollar through this price ticker:
How Many Bitcoin Nodes Are There?
This pretty easy one because Bitnodes tracks the Bitcoin nodes worldwide and as per it, there are 9656 Bitcoin nodes distributed around the globe.
But you should take this number with a grain of salt because there are many nodes which may not be advertising that they are online but yet be participating validation to strengthen the network.
So it is safe to assume that the total number of Bitcoin nodes is north of 10,000 nodes
How Many Bitcoin Miners Are There?
Slush pool has more than 200k miners, and it contributes around 7% hash power to the Bitcoin network. If we extrapolate these numbers, there should be about 2-3 million miners in the system.
How Many Bitcoin Addresses Are There?
When Bitcoin first broke 1 million active addresses (Nov 27, 2017), 1 BTC was $9,352 and the median tx fee was $3.23.
Yesterday 1 BTC was $8,230 and the median tx fee was $1.33.
— Kevin Rooke (@kerooke) June 15, 2019
There are 1 million active addresses of Bitcoin and around 40 million people holding Bitcoin. Since one person can make as many addresses they want, it is safe to assume that there would be 50-60 million Bitcoin addresses.
Conclusion: How Many Bitcoin Exist?
Now, I think you got a clear picture of how many bitcoins exist? How many are yet to be mined? And how many more will be mined?
If you are smart enough, you would have realized that even having 1 BTC is like being one in millions and this could be your last chance to buy one whole BTC.
This "could be" the last time the general population can afford to buy an entire $BTC
After 2021 – Bitcoin could move to a market price where most will only buy fractions
— Josh Rager 📈 (@Josh_Rager) February 11, 2019
If you are thinking to invest and buy Bitcoin, we would suggest you do read this: How To Invest In Bitcoin In 2019? [ A Beginner’s Bitcoin (BTC) Investment Guide]
Have any more questions? Well let us know in the comments below and don’t forget to share this guide with your friends !!
Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.
- How Many Bitcoin Are There Right Now?
- How Many Bitcoin Will Ever Be created
- How Many Bitcoins Have Been Mined?
- How Many Bitcoin Are Left To Mined?
- How Many/Much Bitcoins Is Lost Or Has Been Lost?
- How Many Bitcoins Does Satoshi Have?
- How Many Bitcoin In A Dollar?
- How Many Bitcoin Nodes Are There?
- How Many Bitcoin Miners Are There?
- How Many Bitcoin Addresses Are There?
- Conclusion: How Many Bitcoin Exist?