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What is BTC

Bitcoin is the first cryptocurrency and worldwide payment system - the true OG. This means it is the first decentralized digital currency, with a system that works without a central bank or administrator. The network is peer-to-peer and the transactions go between users directly, without an intermediary. These transactions are then recorded in the public distributed ledger called the blockchain and verified on the network through the use of cryptography. Bitcoins are created as a reward for a process known as mining; which uses computational power to “mine” blocks on the blockchain. These Bitcoins can be exchanged for other currencies, products, and services. Bitcoin was originally invented by an unknown person or group under the pseudonym Satoshi Nakamoto and released as open-source software in 2009. Bitcoin has long been the face of cryptocurrency, and research produced by the University of Cambridge estimates that in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, with most of them using Bitcoin

• What is Bitcoin Halving?

  Halving is an essential part of the Bitcoin algorithm, used to limit the rate at which new coins are created. For every 210,000 blocks mined on the network, the reward for doing so drops by half. This technique helps protect Bitcoin from inflation.

• How many Bitcoins are left to mine until next halving?

  There are 2,813,000 Bitcoin left to mine

• Why Bitcoin halving?

  If coins are minted too quickly it will cause the value of the asset to fall, as the supply will exceed the demand.One of the major faults o...
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• Does halving affect price?

  While no one can say for sure, historically bitcoin has increased volatility around this event. Assuming the same mining difficulty the electricity costs to mine 1 Bitcoin should be double, as it will be twice as hard to mine for Bitcoin.

• How many Bitcoins are generated per day?

  1800 Bitcoins are added in to circulation daily.

• What is the current inflation rate?

  The current inflation rate for Bitcoin is 3.68%

• How many Bitcoins are left to mine?

  Bitcoin has a maximum supply of 21 million. The current supply is 18,200,000 and there are 2,800,000 bitcoins left to be mined.

Cryptocurrency Prices by Coinlib