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.
18 million #bitcoin have been mined until today.
This took 3935 days.
— glassnode (@glassnode) October 19, 2019
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:
- 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
And then, of course, the final stat of 3935 days to mine 18 million Bitcoin.
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.
Images courtesy of Shutterstock, Trading View and Twitter.