What year was the Bitcoin burn? How many Bitcoins will be left by 2025?
Bitcoin burning is the process of permanently removing the circulating supply of Bitcoin so that it cannot be retrieved or reused as currency. This is usually done by sending Bitcoin to an unreachable address (called a "burn address" or "coin-eating address"). The concept of Bitcoin burns has been around since the early days of the Bitcoin blockchain, with the first publicly announced Bitcoin burn occurring in 2013 when a black market called Silk Road shut down, leaving 144,000 Bitcoins behind. .
What is Bitcoin Burn?
- Bitcoin burning is the process of permanently removing the circulating supply of Bitcoin so that it cannot be retrieved or reused as currency.
- This is usually done by sending Bitcoin to an unreachable address (called a "burn address" or "coin-eating address").
History of Bitcoin Burns
- The concept of Bitcoin Burns has existed since the early days of the Bitcoin blockchain.
- The first publicly announced Bitcoin burn occurred in 2013, when a black market called "Silk Road" shut down, leaving 144,000 Bitcoins behind.
- Since then, other organizations and individuals have participated in Bitcoin burning, making it a common practice in the cryptocurrency world.
How does Bitcoin burning affect the number of Bitcoins?
- Bitcoin burning reduces the total supply of available Bitcoins.
- The initial supply of Bitcoin is capped at 21 million coins, meaning that all Bitcoins will eventually be mined.
- By destroying Bitcoin we can shorten this process and reduce the number of Bitcoins that can be mined in the future.
The number of Bitcoins remaining as of 2025
- Based on current Burn rate and expected speed of Bitcoin issuance, it is expected that by 2025 there will be approximately 18 million Bitcoins.
- This is an approximate number, as the actual number of Bitcoins remaining depends on the burn rate, mining difficulty, and other factors.
Potential Impact of Bitcoin Burn
- Increase Scarcity: Destroying Bitcoin reduces its supply and increases its scarcity. This can cause its value to appreciate over time.
- Reduce Inflation: Destroying Bitcoin reduces its inflationary potential because fewer newly mined Bitcoins will be created.
- Improving Security: Destroying Bitcoin improves the security of the Bitcoin network because it reduces the possibility of a hacker or bad actor manipulating the supply or double-spending Bitcoin.
- Promote ecological development: Bitcoin burning can promote the long-term development of the cryptocurrency ecosystem, because reducing supply can encourage innovation and support the network in other ways.
FAQs related to Bitcoin burns
Why are people burning Bitcoin?
- Increase the scarcity and value of Bitcoin.
- Reduces Bitcoin’s inflation potential.
- Supports the security of the Bitcoin network.
- As a protest against the global economic and financial system.
Is Bitcoin burning legal?
- Destroying Bitcoin is legal in most countries.
- However, some jurisdictions may impose restrictions or requirements on large-scale Bitcoin burning.
How to destroy Bitcoin?
-
There are several ways to burn Bitcoin:
- Send the Bitcoin to a burn address.
- Use a third-party service to destroy Bitcoins.
- Create a multi-signature wallet where multiple key holders must agree to access Bitcoin. One or more of these private keys can then be destroyed to permanently remove the Bitcoin.
The above is the detailed content of What year was the Bitcoin burn? How many Bitcoins will be left by 2025?. For more information, please follow other related articles on the PHP Chinese website!
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
AI Hentai Generator
Generate AI Hentai for free.
Hot Article
Hot Tools
Notepad++7.3.1
Easy-to-use and free code editor
SublimeText3 Chinese version
Chinese version, very easy to use
Zend Studio 13.0.1
Powerful PHP integrated development environment
Dreamweaver CS6
Visual web development tools
SublimeText3 Mac version
God-level code editing software (SublimeText3)
Hot Topics
1381
52
The relationship between Bootstrap Table garbled and page encoding
Apr 07, 2025 pm 12:03 PM
Bootstrap Table garbled is usually because the page encoding is inconsistent with the table data encoding. To solve this problem, you need to make sure they are consistent. The specific steps include: checking page and table data encoding, setting page encoding, and verifying the encoding. If UTF-8 is used, the server should also support it. If it cannot be resolved, try using the JavaScript encoding library.
Unable to log in to mysql as root
Apr 08, 2025 pm 04:54 PM
The main reasons why you cannot log in to MySQL as root are permission problems, configuration file errors, password inconsistent, socket file problems, or firewall interception. The solution includes: check whether the bind-address parameter in the configuration file is configured correctly. Check whether the root user permissions have been modified or deleted and reset. Verify that the password is accurate, including case and special characters. Check socket file permission settings and paths. Check that the firewall blocks connections to the MySQL server.
Laravel Eloquent ORM in Bangla partial model search)
Apr 08, 2025 pm 02:06 PM
LaravelEloquent Model Retrieval: Easily obtaining database data EloquentORM provides a concise and easy-to-understand way to operate the database. This article will introduce various Eloquent model search techniques in detail to help you obtain data from the database efficiently. 1. Get all records. Use the all() method to get all records in the database table: useApp\Models\Post;$posts=Post::all(); This will return a collection. You can access data using foreach loop or other collection methods: foreach($postsas$post){echo$post->
Laravel's geospatial: Optimization of interactive maps and large amounts of data
Apr 08, 2025 pm 12:24 PM
Efficiently process 7 million records and create interactive maps with geospatial technology. This article explores how to efficiently process over 7 million records using Laravel and MySQL and convert them into interactive map visualizations. Initial challenge project requirements: Extract valuable insights using 7 million records in MySQL database. Many people first consider programming languages, but ignore the database itself: Can it meet the needs? Is data migration or structural adjustment required? Can MySQL withstand such a large data load? Preliminary analysis: Key filters and properties need to be identified. After analysis, it was found that only a few attributes were related to the solution. We verified the feasibility of the filter and set some restrictions to optimize the search. Map search based on city
How to use SUBSTRING_INDEX in MySQL
Apr 08, 2025 pm 02:09 PM
In MySQL database operations, string processing is an inevitable link. The SUBSTRING_INDEX function is designed for this, which can efficiently extract substrings based on separators. SUBSTRING_INDEX function application example The following example shows the flexibility and practicality of the SUBSTRING_INDEX function: Extract specific parts from the URL For example, extract domain name: SELECTSUBSTRING_INDEX('www.mysql.com','.',2); Extract file extension to easily get file extension: SELECTSUBSTRING_INDEX('file.pdf','.',-1); Processing does not exist
What are the different ways of promoting H5 and mini programs?
Apr 06, 2025 am 11:03 AM
There are differences in the promotion methods of H5 and mini programs: platform dependence: H5 depends on the browser, and mini programs rely on specific platforms (such as WeChat). User experience: The H5 experience is poor, and the mini program provides a smooth experience similar to native applications. Communication method: H5 is spread through links, and mini programs are shared or searched through the platform. H5 promotion methods: social sharing, email marketing, QR code, SEO, paid advertising. Mini program promotion methods: platform promotion, social sharing, offline promotion, ASO, cooperation with other platforms.
Monitor MySQL and MariaDB Droplets with Prometheus MySQL Exporter
Apr 08, 2025 pm 02:42 PM
Effective monitoring of MySQL and MariaDB databases is critical to maintaining optimal performance, identifying potential bottlenecks, and ensuring overall system reliability. Prometheus MySQL Exporter is a powerful tool that provides detailed insights into database metrics that are critical for proactive management and troubleshooting.
Remote senior backend engineers (platforms) need circles
Apr 08, 2025 pm 12:27 PM
Remote Senior Backend Engineer Job Vacant Company: Circle Location: Remote Office Job Type: Full-time Salary: $130,000-$140,000 Job Description Participate in the research and development of Circle mobile applications and public API-related features covering the entire software development lifecycle. Main responsibilities independently complete development work based on RubyonRails and collaborate with the React/Redux/Relay front-end team. Build core functionality and improvements for web applications and work closely with designers and leadership throughout the functional design process. Promote positive development processes and prioritize iteration speed. Requires more than 6 years of complex web application backend