There’s Only Four Million Bitcoin Left to Be Mined

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In today’s climate of ICOs with 100 billion token supplies, it can be easy to forget that the total supply of Bitcoin is incredibly low – 21 million.

The 17 millionth Bitcoin has been mined, and there are only 4 million left. The built-in artificial scarcity is one of the most important characteristics of the currency, and the reason for the high price – Bitcoin is rare!

Here is the way to think about Bitcoin. There are 17 million Bitcoins outstanding, each costing about $8000. Are there 17 million people in the world who could afford 1 Bitcoin? That would hoover up all the supply and corner the market.

— Bill Miller (@B3_MillerValue) April 19, 2018

Every ten minutes, a new Bitcoin block is created by Bitcoin miners, which is a subgroup of the people running computer nodes that keep Bitcoin operational. Powerful computers store all Bitcoin transaction data and update it as new transactions are…