đź‘‘ #Bitcoin 2024-2034: The Ultimate Gold Mining Rush
In the history of human civilization, there have been moments when the discovery of precious metals sparked unprecedented economic booms and reshaped societies.
From the California Gold Rush of the XIX century to the Klondike Gold Rush of the early XX century, these periods of rushing into mining and finding new #gold discoveries symbolize the need to store wealth into something sound and created many opportunities 🧠and applications around the metal.
Bitcoin’s fixed supply schedule, with new coins mined on average every 10 minutes, is about to undergo its 4th halving whereby the new mined coins per block will halve from 6.25 to 3.125.
~19.7 million bitcoin are in circulation, about 94% of the total supply. The #halving coming in April will mark one of the last two époques where a “significant” amount of bitcoin can be mined every ten minutes.
In 2028, the total supply mined will be 97%.
In 2032, 98.4%.
đź‘€ By 2034, 99% of the total bitcoin supply will already be in circulation and the world will have to contend the remaining 210.000 bitcoin to be issued across approx. 106 years, until 2140.
Public media has always attacked bitcoin #mining as bad for #environment, wasting major sources of electricity and creating huge CO2 #emissions – therefore marking a negative news flow on Bitcoin (the asset and the network).
But such narrative has started shifting during 2023 as new research has brought to light objective benefits resulting from bitcoin mining. 🌱 The harnessing of any stranded source of energy, the efficiency improvements to energy grids, the development of energy infrastructure in rural areas of Africa or South-East Asia which was not economically feasible before bitcoin mining.
Bitcoin mining monetizes any type of #stranded #energy in a global, incorruptible, and censorship-resistant form of capital đź’°
Any energy company will integrate bitcoin miners ⛏ in their operations, as it will make their business more efficient and less prone to waste. Many other companies will also integrate mining in their activities and will use waste heat from mining computers to dry crops, power heat pumps or provide a new form of district heating.
Applications are numerous today and will be many more in the years to come.
As the Bitcoin network grows further and onboards its first billion users while the mining sector becomes the most competitive on the planet, the period from 2024 to 2034 could be aptly described as the "Ultimate Gold Mining Rush" of the digital age.