Written after the 18 millionth Bitcoin was mined: These "18 million" milestones are also worth remembering

Source: Scallion Blockchain

At 08:04 Beijing time last Saturday (October 19), the Bitcoin block height reached 600,000, and the 18 millionth Bitcoin was officially mined, which also means that there are less than 3 million Bitcoins left to reach the set upper limit.

In response to this "milestone event", data company Glassnode tweeted that it took a total of 3,935 days from the birth of Bitcoin to the mining of the 18 millionth Bitcoin, and in the ten years before this day officially arrived, Bitcoin actually completed many "18 million milestones". Glassnode sorted out the specific time consumed to achieve these memorable "18 million" through a chart:

Right now:

654 days, on-chain transaction volume reaches 18 million BTC

828 days, on-chain transaction volume reaches 18 million US dollars

841 days, Bitcoin's total market value reaches $18 million

880 days, the daily on-chain transaction volume reached 18 million US dollars

1336 days, the daily on-chain transaction volume reached 18 million bitcoins

1370 days, 18 million transfer outputs

1409 days, 18 million transfer outputs consumed

1589 days, 18 million on-chain transactions completed

In 1710 days, the number of Bitcoin network wallet addresses reached 18 million

Bitcoin network paid $18 million in mining fees in 2880 days

3094 days, the number of wallet addresses with Bitcoin reached 18 million

3935 days, the 18 millionth Bitcoin was mined

In just ten years, Bitcoin has leapt from the first line of code to an emerging asset widely recognized by the world. Behind each "18 million" is the mark of Bitcoin's step-by-step growth. Perhaps objectively speaking, Bitcoin is still very far away from becoming the real "digital gold". However, as an emerging asset whose value growth rate has created history in its early days, its growth rate has far exceeded everyone's expectations eight years ago or even five years ago. This shows that Bitcoin may not be as far away from shaking the traditional financial market as imagined.

However, with the 18 millionth bitcoin officially mined, there are now less than 3 million bitcoins left to reach the upper limit. According to the current mining efficiency, Bitcoin will usher in the third halving in history in about 206 days, when the block reward will drop from the current 12.5 to 6.25.

This also means that miners in the current Bitcoin network will face a situation where mining rewards are discounted as the difficulty further increases. Not long ago, Litecoin, BSV, and XRP, which have experienced similar situations, have already shown signs of some miners fleeing in public data. Will miners flee in large numbers after Bitcoin officially completes the halving of rewards next year? Will the rapid development momentum of the entire digital currency market represented by Bitcoin slow down significantly as a result? Perhaps only time can give the answer.