When will Bitcoin reach 21 million coins (When will Bitcoin be considered complete)?

When will Bitcoin reach 21 million coins? How has the price of Bitcoin changed? Now, we have reached a new milestone. After reaching a historic high on February 13, 2020, Bitcoin is currently worth about 100 million US dollars, an increase of more than 20% since the beginning of the year.

According to statistics from CoinMetrics, as of the end of June, there are over 1 billion addresses holding at least 100 Bitcoins. This indicates an increase in the number of holders, while the number of newly issued addresses has decreased, with most of these addresses considered to be airdrops or “whales”. So why do we only say there are 1,000 to 2,000 Bitcoins? This number is far from the bull market in 2017 and may decrease over time (even no one knows).

Therefore, this situation will change if the BTC price drops by 90% from the current level or if the total supply of BTC decreases by 10%. However, if the BTC price continues to rise, it means that it will not be able to maintain its initial historic high, causing greater disruption to the network.

To address the above issues, Bitcoin needs to increase its computing power and block capacity through mining to ensure security. The transaction fees on the Bitcoin network have also increased, making the blockchain possible. However, due to the rising costs of miners, the high electricity fees that everyone in the network must pay, and outdated nodes, it is difficult to calculate any actual hash values. When Bitcoin creates a new currency every ten minutes, it becomes a huge hard drive.

As previously reported, Bitcoin’s current energy consumption is much lower than the end of 2016 to the first quarter of 2018. At the time of writing this report, Bitcoin is mined at a rate of approximately $175,000 per year, an increase of just over $40 million since April 2019.

In addition, due to the reluctance of mining equipment manufacturers to sell their devices, some mining pools have closed. Bitcoin mining companies have stopped providing services to users since 2014 and only started offering support in March 2021 after the halving took place.

However, even so, Bitcoin can still maintain a lower level of network security and can serve as an alternative, although this process may soon come to a slow end. (Bitcoin.com)

When will Bitcoin be considered complete?

Today, the mining difficulty of Bitcoin has increased by 25%, from around $13,400 to around $12,900. This is a significant negative factor for an application without much practical significance because it is difficult to guarantee the expected block time during network congestion. If we calculate the next block reward based on the current computing power (for example, 1Ms), it is estimated that it will probably take until October for the next block reward halving to occur, so there is no need to worry about the hash value being changed or attacked.