Find the best broker for your trading or investing needs Bitcoin’s algorithmically-induced scarcity has already generated skyrocketing prices for the cryptocurrency. But the biggest spike in price may be reserved for the last bitcoin ever mined.
And that is what is playing on the mind of tech mogul John McAfee. A Reddit discussion has some interesting responses to McAfee’s musings.
For example, one user stated that the last bitcoin will never be mined because the reward for mining bitcoin by then will be close to zero. Others wondered about the utility of pondering over this question currently, especially since the event is far into the future.
According to most estimates, it is expected to occur sometime in 2140. But that estimate assumes the provisioning of hash power, or systems to mine bitcoin, at a constant rate and an algorithmic difficulty that remains constant.
Both these factors are subject to change. (See also: Bitcoin Mining) Bitcoin is scheduled to hit the 20.5 million mark by 2030. Read more from investopedia.com…
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