Bitcoin’s world will is experiencing kind of real shock in this year. It is known that the number of Bitcoins mined every day is increasing day by day, in comparison with the last year. Now, the majority of Bitcoin is already mined. In January 2018, 80% of all 21 million BTC have been mined actually.
BTC contains the 21 mln cap and with such a cap in place, the more Bitcoins are mined, the more shock it produces on the financial markets. This shock creates demands that in turns makes the coins more valuable. Analysts believe that once such a great amount of BTC have been mined, it will become more difficult to obtain them as they will become more expensive.
According to Cointelegraph, miners currently receive a 12.5 BTC reward for every block that they mine, but Nakamoto’s protocol also requires that the mining reward is halved every 210,000 blocks, or approximately four years. The next miner halving will take place within two years, approximately in early June 2020 depending on hashrate, bringing the rewards down to 6.25 BTC per mined block.
What will happen to cryptomining in the future?
According to the Financial Services Center of Deloitte, Bitcoin and other digital currencies are likely to enter the mainstream, but only with the adoption of standards and compliance with global regulatory frameworks. Many of the “coins” that exist today will disappear due to the lack of any real demand. However, after five years, we will see how the states themselves begin to sponsor the development of the cryptocurrency.
They say that the cryptocurrency is on the verge of transition to the mainstream. Therefore, governments around the world will establish new rules that will lead to the centralization of such currencies and coins as bitcoins, which will not only stabilize the currency, but will also determine its real value.
Current innovations in the cryptocurrency, such as Ripple, Ethereum, Litecoin and others, are just the foundation for the development of this technology, so in the coming years these currencies will continue to show steady growth.
The potential for cryptocurrency is high, and it is assumed that if the currency shows a steady growth in the currency for several years, the growth of this currency will remain high in the years to come. Cryptocurrency, such as Bitcoin, gained strength already and as demand for cryptocurrency will be high in the coming years, the cryptocurrency will also grow. And if the demand for cryptocurrency is increased, this is due to the fact that, due to the growing demand in current years. And the demand shall grow further.