In the past week, Bitcoin broke through one hundred thousand dollars each, making one wonder whether this digital asset has become out of reach. But did you know that the last Bitcoin of the 21 million will take humans a full 35 years to mine? The significance of this Bitcoin has far exceeded the realm of digital assets.
35 years, just for the last Bitcoin
According to the Bitcoin system code, the halving mechanism will reduce the issuance of Bitcoin every four years until it completely stops increasing in 2140. Starting from the next halving (i.e., in 2104), the Bitcoin production in the last few decades will decrease from 298 Bitcoins per block to just a fraction of one Bitcoin. By the time it finally stops, the total block rewards will accumulate to only about 1.24 Bitcoins.
This means that future miners will spend decades under high computing power costs just to extract this last Bitcoin. Such scarcity makes its value evident.
The Pinnacle Showdown of Computing Power
The current total computing power of the Bitcoin network has reached 800 EH/s, equivalent to the sum of 5 million of the world's top supercomputers. To ensure the security of the Bitcoin network, the computing power has reached the limits of human technology. This unassailable energy consumption makes Bitcoin the safest asset on Earth.
Four years ago, the total computing power of Bitcoin was only 100 EH/s; now, its growth rate far exceeds that of the enhancement in global supercomputing performance. This not only demonstrates the strength of the Bitcoin network but also signifies its unparalleled security.
Is today's Bitcoin really expensive?
From security, scarcity to technological advancement, Bitcoin has become a unique vehicle of wealth. However, do you realize that the last Bitcoin, forged by computing power over 35 years in the future, is no different from today's Bitcoin, which is priced at only one hundred thousand dollars?
One hundred thousand dollars in exchange for one of the world's most scarce and safest assets—could this be an impeccable deal?
The future of Bitcoin may far exceed our imagination. And at this moment, Bitcoin may symbolize a historical undervaluation of value. Are you willing to participate in this long journey towards the pinnacle of wealth?
