The 20 millionth #bitcoin has now been mined.
Take a second to process that. Over 95% of the total supply is already out in the wild. The final 1 million will take more than a century to trickle out, with the last satoshis expected to be mined around 2140.
Scarcity by design. ₿
While this is a massive milestone to celebrate, it also forces us to look at the long-term horizon. We'd love to hear your theories on a few things as we enter this final issuance phase:
The Fee Market Transition: As the block subsidy continues to ruthlessly halve, miners will eventually have to rely almost entirely on transaction fees. Will Layer 1 demand naturally drive fees high enough to secure the network, or will Layer 2 volume complicate miner profitability?
The Future of Hashrate: What happens to the global hashrate in 20–30 years when the block reward is purely fractional? Does mining eventually become a state-sponsored necessity for sovereign security rather than just a for-profit enterprise?
The Psychological Shift: Does crossing the "only 1M left" barrier actually accelerate institutional FOMO, or is this mathematical milestone completely priced in by the market?
The "True" Supply: We know millions of BTC are lost forever in early, inaccessible wallets. How do you factor the phantom supply into the terminal value of the remaining 1 million coins?
Video credit: Wicked over on X
Are the current incentives perfectly engineered for the next century, or will the network have to adapt?
Drop your takes below #nostr 👇
