Hey @lexiconical , this is a great post that will update all Bitcoin fans . Also people should be aware ;
80% OF TOTAL BITCOIN SUPPLY HAVE NOW BEEN MINED;
Only 20% left to be mined .
THERE ARE ONLY 4.2 MILLIONS BITCOINS LEFT TO MINE:
So far, 16,800,000 BTC have been mined and there’s only 20 percent left for miners to acquire. When Satoshi Nakamoto introduced the bitcoin protocol to the public by launching the codebase in 2009, the cryptocurrency came with a capped supply. The supply will never be increased and Nakamoto set the number to 21 million bitcoins ever to be found. So far the creator’s plan and miners securing the network have successfully secured this rule from changing with hashpower. Theoretically, however, skeptics believe there could be a way to increase the supply through manipulative tactics such as a 51 percent or Sybil attack. As the digital asset’s life approaches a decade no one has been able to break the rules of 21 million supply cap.
SOLVING THE GENERAL'S PROBLEM :
This has given individuals reason to believe that Satoshi solved one of the hardest computational equations, the Byzantine General’s problem, a security flaw that had plagued computer scientists for decades. Essentially the problem exists with distributed networks as the issue brings certain faults or security flaws making it easy to attack. This, in turn, makes it hard for protocols to prove something because there is an unsolvability proof within the network.
PROOF OF WORK :
With Satoshi’s Proof-of-Work in the original bitcoin protocol, the economic measure makes it difficult to attack by making threats to the network costly, and time-consuming. For the first time ever in the world of digital computing, Satoshi introduced an asset that couldn’t be copied or double spent. And at the same time, he limited the supply which also introduced digital scarcity like no other technology before it.
DIGITAL SCARCITY AND THE NEXT HALVING :
Because there are only 21 million bitcoins the cryptocurrency’s limited availability make the asset harder to acquire the more scarce it becomes. In most cases when an asset is limited and resources are harder to come by, the supply causes demand for the market. The supply of bitcoin shows a significant gap between how many there are and those who want to obtain some. A great majority of bitcoiners believe digital scarcity will make bitcoin more valuable over time, and with 16.8Mn mined so far it will get harder.

In addition to the difficulty in accessibility miners themselves are going to have to up their processing power constantly. In two years or less depending on hashrate speed, the next miner reward halving is approaching. This means instead of miners getting 12.5 BTC for every block they mine they will get 6.25 BTC in two years time. This network consensus agreement of a halving every four years will make bitcoins more difficult to obtain even for the large warehouses all over the world filled with data processors. Every one of them and ASIC technology itself will have to progress for mining operations to continue profiting. Of course, the price per bitcoin should also be higher than the cost to mine the currency as well