Crypto advocates celebrated on December 12 the fact that 90%, or 21 million, of all the 21,000,000 bitcoins ever created have been put into circulation. Bitcoin's inflation rate per year is currently around 1.88%. This is lower than the 2% target by central banks. In addition, after the mining of 19.98 million bitcoins, the network's inflation rate will drop to 1.1% in 875 days.
Programmatic Scarcity
The Bitcoin network has a number of advantages. It is mathematically predictable and can be used to predict the future, as opposed to the central bank monetary systems that are subject to the decisions of policymakers. As of this writing, 18,899 800 BTC have been mined into circulation. This is roughly 90% of the 21,000,000 bitcoin that will ever be created. This milestone was acknowledged by digital currency enthusiasts on Sunday 12/12/2011, the same day as Satoshi Nakamoto's formal departure.
The coinmarketcap.com and glass node percent of all bitcoins currently mined can show the 90% statistic. Reddit users began to ask about the 90% of bitcoins that were mined. Bitcoin.com News shared recently a Coin Metrics report about the state of lost Bitcoins. It stated that at least 1.5 Million BTC were assumed to have been lost. However, some Redditors believe there are more. One Redditor stated that estimates of 3-5,000,000 bitcoin are available. Shared this information on Sunday. Onchain metrics show how bitcoin has not moved in the last ten years. However, that would be the highest and most likely the best. There are also some keys that haven't been used. It's probably around 3 million, but it is very unlikely that we will know for sure and it will keep increasing. There is also a delay factor because it could be that people lost within the last 10 years. We assume that the largest losses were experienced in the first two years, so we focus on that data.
The Bitcoin Inflation Rate per annum is estimated at 0.4% in 2030
Although we don't know how many bitcoins have been lost or are not recoverable, this is far more than the predictability of bitcoin issuance. Satoshi believed that lost coins only increase the cryptocurrency asset's scarcity. Many crypto advocates agree.
"Lost coins do not make other coins more valuable," said, Bitcoin's creator. It is a donation to all. With 90% of the coins still in circulation and a current rate of 900 bitcoin per hour, and 210,000 blocks for every halving, the next reward-halving will occur on May 6, 2024. The block reward currently stands at 6.25 Bitcoins per block. After halving, the rewards will drop to 3.125 Bitcoins per block. We can expect that the inflation rate for Bitcoin after the halving will be 1.1%, with the current Bitcoin inflation rate fluctuating from 1.75% to 1.58%. Every 210,000 blocks, the Bitcoin protocol is halved until it reaches 0. This date is estimated to be around 2140. It is expected that miners will continue to secure the network and process transactions based upon network transfer fees until then (the year 2140).
Two more significant bitcoin block reward halvings are expected to be around 2030. The halvings following that year will be fractions BTC. Bitcoin's inflation rate per year is estimated to be 0.5% by 2028 and 0.4% by 2030, with 20,585,442,000,000 bitcoins in circulation. According to **estimates,**98.02% of 21 million bitcoins will be mined by 2030. The timeframes of when these changes will happen are a good estimate, but they are not fixed in stone, due to Bitcoin's hashrate rising to all-time highs. Network participants (miners) have increased the time between halvings by dedicating the hashrate for the bitcoin network. The daily issuance rate is now faster than previously predicted.
