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Today, 17 millionth bitcoin was produced

With the existing protocol, the emission of cryptocurrency will be completed only 120 years later.

27.Apr.18 2:15 AM
By Sergey Tselibeev


Today, 17 millionth bitcoin was produced
In the network of bitcoin on April 26, a "commemorative" coin was mined, a 17-millionth coin, wrote ForlLog, an online magazine. Thus, 81 percent of all planned bitcoins have already been released, since the emission of the most famous crypto currency is limited to 21 million coins.

The first 50 bitcoins were born on January 3, 2009, when an unknown and still crypto currency creator Satoshi Nakamoto created the first block. The creation of each new block takes about 10 minutes and, if the current bitcoin protocol does not change, the last coin will be produced only 120 years later.

According to Neicha Kodrich, Bitstamp's head of crypto-birch, the number of 17 million only seems great, but in fact it will not suffice even to give out to each today's bitcoin-millionaire by one coin. True, each bitcoin is divided into 100 million Satoshi, which will always be enough. For the same reason, the exact value of 21 million bitcoins can not be achieved, since one satoshi will never suffice before it.

It should be noted that after reaching the mark of 21 million (minus one satoshi), the network of bitcoins will not cease to function. It is believed that by that time the size of commissions from the transaction will be sufficient to interest the miners to its maintenance.

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