Those in the cryptocurrency community have been celebrating the fact that miners have hit a milestone of 18 million Bitcoin mined since the asset’s inception.
In its own form of celebration, the on-chain market intelligence company, Glassnode, shared some other 18 million-related insights on Twitter.
The above chart states that it took 3935 days to mine 18 million Bitcoin. But, before then, the asset has hit 18 million on-chain transactions, hit a market cap of the same volume, reached $18 million in mining fees, and much more. The list states the following and how many days it took to hit the milestone:18 million #bitcoin have been mined until today.
— glassnode (@glassnode) October 19, 2019
This took 3935 days.
Here's the time it took to reach other 18 million on–chain milestones on #Bitcoin 👇 pic.twitter.com/B2jt4nTxps
- 654 days to reach 18 million BTC on-chain volume
- 828 days to reach $18 million USD volume
- Hitting $18 million in market cap took 841 days
- 880 days to reach $18 million USD on-chain volume in one day
- 1336 days to hit 18 million on-chain volume in Bitcoin in one day
- 1370 days to formulate 18 million transaction outputs
- 1409 days to spend that same number of outputs
- 1589 days to hit 18 million on-chain transactions
- 1710 days to hit 18 million network addresses
- 2880 days for the network to pay $18 million in mining fees
- 3094 days to hit 18 million addresses holding a positive balance
That said, it is widely known that there is only to be 21 million Bitcoin, meaning that there are just three million left to be put into circulation via mining. Many speculate what will happen on the path to mining the final Bitcoin, considering that the asset’s next halvening is to happen soon, as BeInCrypto has previously reported.
That’s not to mention the fact that mining difficulty will only increase, meaning that miners will be putting in more work with less reward, which is already happening to altcoin networks across the crypto-sphere, as BeInCrypto has also previously reported.
What do you think about these statistics? Will miners continue participating in the Bitcoin network after the halvening? Let us know your thoughts in the comments below.
Images are courtesy of Shutterstock, Twitter.
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Max Moeller
Max is a cryptocurrency journalist with an affinity for games and emerging technology. After leaving school to start a writing career, he wrote his first article on blockchain and fell down the rabbit hole. Since starting in 2017, Max has worked with multiple blockchain startups and crypto enthusiast spaces, doing his best to educate the world on the nascent technology. Max has been published in various blockchain and crypto related magazines before settling down at BeInCrypto to focus on...
Max is a cryptocurrency journalist with an affinity for games and emerging technology. After leaving school to start a writing career, he wrote his first article on blockchain and fell down the rabbit hole. Since starting in 2017, Max has worked with multiple blockchain startups and crypto enthusiast spaces, doing his best to educate the world on the nascent technology. Max has been published in various blockchain and crypto related magazines before settling down at BeInCrypto to focus on...
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