Monday, May 16

bitcoins run out

The miners they mined 90% of the total amount of bitcoins. To be more precise, of 21 million coins to be issued, users already have more than 18.9 million bitcoins. It is estimated that it will take 119 years to mine the remaining 2.1 million bitcoins.

In this context, two questions arise. Will the mining process speed up with the appearance of quantum computers? What will happen to the price of the digital asset in the near future? Starting at the end, many kryptonians they have faith that a reduction in the number of coins available for mining will necessarily lead to an increase in the bitcoin value.

The only problem with this theory is that, until now, no one has paid much attention to the percentage of mined and illiquid coins. However, analysts at Fidelity suggest that bitcoin could approaching the million dollar level in 2024, and the founder of Ark Invest predicts that the price of the main cryptocurrency will rise to $550,000.

Quantum computers are not cheap or easy to use

Only time will tell who was right. Meanwhile, the cryptocurrency market has been underperforming lately. This last Tuesday the price of bitcoin fell by 6%. When should we expect a pullback? Given the high level of speculation, a major digital asset can go up or down at any time.

Speaking of quantum computers, on the one hand, it is true that process information about 100 trillion times faster than a traditional computer. On the other hand, it is assumed that, due to the nature of the algorithm of hashing SHA-256, bitcoin mining with quantum computers will not be as efficient as with modern ASICs.

Also, you have to understand that quantum computers are not cheap. And second, they are difficult to use. So today we could say that quantum computers will not drastically affect to the mining process.

***Igor Kuchma is a Trading View analyst