BTC network just hit 20 million coins mined let’s celebrate

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calmguruSenior Member
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#1Dec 25, 2019, 01:47 AM
So, the BTC network just mined its 20 millionth coin, which means around 95% of all bitcoins that will ever exist are already out there. Let’s break it down for the newbies, like you’re explaining it to a teenager or someone totally new to this whole thing. It took 17 years to mine 20 million bitcoins, but to get that last 1 million, it’s gonna take over 100 more years. Here’s a simple way to think about it. Picture a huge jar that you’re trying to fill with water. But there’s a twist: every time you pour water in, you can only fill half of the empty space. The first time you pour, the jar is half full. When you pour again, you fill half of what’s left, so now it’s almost three-quarters full. In the beginning, it seems like you’re making a lot of progress quickly. But as you keep pouring, the amount of water you add gets less and less each time. So, you get really close to filling the jar fast, but to completely fill that tiny bit left takes a super long time. This whole idea is what we call "Bitcoin halving."
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sam_guruFull Member
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#2Dec 25, 2019, 04:30 AM
Deleted threads Bitcoin Nears 20M Supply Milestone 20 Million Bitcoin Mined by March 15 — The Numbers Nobody Is Discussing Another thread was created yesterday about 20 million bitcoins. Almost 20 Million Bitcoin has been mined
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calmguruSenior Member
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#3Dec 25, 2019, 10:21 AM
Check the content of my thread, it is totally different. My thread is about teaching noobs the concept of Bitcoin halving in a non technical way
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sam_guruFull Member
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#4Dec 25, 2019, 12:09 PM
You want to teach this And you went with your world salad. Use Bitcoin wiki is easier https://en.bitcoin.it/wiki/Controlled_supply or these ones How is the 21 million bitcoin cap defined and enforced. Equivalent Network Time.
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calmguruSenior Member
Posts: 215 · Reputation: 1355
#5Dec 25, 2019, 04:47 PM
It's obvious you didn't read the thread. You didn't also notice i said it's a fun learning and non technical answers are needed. You were instead busy searching for links. If the thread does not interest you, you may skip and if it is not a good thread, the moderator will lock it. Thanks
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