Bitcoin is the world's first entirely virtual currency- new currency is created by mining, a complex online process that uses computer code.
But how many Bitcoins are in the world and how many are left? Here's what you need to know.
How many Bitcoins are there?
There are currently 18,749,318.75 bitcoins in existence.
The number changes about every 10 minutes as new blocks are mined.
How many Bitcoins are left to mine?
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.
How many Bitcoin will be created?
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.
How many Bitcoins are lost?
The exact number cannot be calculated.
However, it is estimated that 3-4 million bitcoins are lost forever.
How many Bitcoins are mined daily?
It is estimated that 900 new bitcoins are mined per day.
On average, 144 blocks are mined daily and each contains 6.25 Bitcoins.
When will the last Bitcoin be mined?
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.
What happens when all 21 million Bitcoins are mined?
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.
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