How many Bitcoins are there and how many are left to mine?
Bitcoin is the world's first entirely virtual currency- new currency is created by mining, a complex online process that uses computer code. Here's what you need to know. There are currently 18,749,318.75 bitcoins in existence. The number changes about every 10 minutes as new blocks are mined. There are currently 2,250,681.3 bitcoins left to be mined. Cryptocurrency mining is a complex and energy-intensive process, which requires a lot of computer power. Mining involves using a computer to solve a mathematical problem with a 64-digit solution to create new coins. For each problem solved, one block of Bitcoins is processed. In addition, the miner that is first to solve the problem is rewarded with a new Bitcoin. These new coins are then stored virtually through an online database called the blockchain. The maximum amount of bitcoins that can ever exist is 21 million. To be precise, a total of 20,999,999,9769 bitcoins will be created in total. The exact number cannot be calculated. However, it is estimated that 3-4 million bitcoins are lost forever. It is estimated that 900 new bitcoins are mined per day. On average, 144 blocks are mined daily and each contains 6.25 Bitcoins. It is believed that the last Bitcoin will be mined in 2140. No new Bitcoins will enter circulation after the mining of the last one. Currently, miners earn their income via the block reward. When all 21 million Bitcoins are mined there won't be a block reward to pay the miners. Instead, they will be rewarded with transaction fees.