Will the last bitcoin be yours?

Written by Anna Komashko
Written by
Investing reporter
ECOS community manager...
< 1   min.
Actual news 

The bitcoin protocol was designed in such a way that the block reward was fixed. According to the protocol, every 210,000 blocks it is automatically updated and so-called halving takes place to cut the block reward in half.

Initially, the reward for 1 block was 50 bitcoins. After the first halving in 2012, it was reduced to 25 BTC.
The second halving, which took place on July 9, 2016, resulted in a reduction in mining rewards to 12.5 BTC.

Since May 11, 2020 (when the last bitcoin halving happened), the block reward is 6.25 bitcoins.

If the protocol did not suggest halvings and the block reward remained fixed at 50 bitcoins per block, then the last bitcoin would have been mined by 2016.

Thus, the vast majority of coins would have been concentrated in the hands of the first few users, and bitcoin might never have become mainstream.

Thanks to the technology, everyone can mine bitcoin. The main thing is not to miss the moment and not wait for the hour when the bitcoin rate starts breaking through ATH again. Then it will be too late: the mining equipment will become extremely expensive again!
The more hash power you have now, the more Bitcoins you can mine.

Do not miss the opportunity to purchase 30% more power in ECOS now!

Select a mining contract in the online calculator and remember that on September 20, ECOS 5th anniversary, we will give away a bunch of prizes among those who bought contracts worth $100 or more!

Click to rate this post!
[Total: 1 Average: 5]
Investing reporter

Crypto investment platform
Download the free app on android and ios
Scan the QR-code with your smartphone to download app