I’m told that their is a total number of bitcoins that can be mined, 21 million bitcoins I’ve heard. I’ve heard that the more bitcoins that are mined there is a direct increases in the level of difficulty and in resources, required to mine more bitcoins.
I’ve heard many estimates from 10 years to 100 years to mine all 21 million bitcoins.
With the unknown variable of future increases in processing power, how could anyone make a educated guess as to how long it will take?
Additionally, if it is true that Moore’s law will be ending as we currently know it due to limitations in our current manufacturing methods of Processors, then this would lend even more weight to my theory that estimating the time of will take to mine all 21 million bitcoins is a guess, at best.
Please explain if I’m wrong and what I’m failing to understand about this, as I’m pretty new to crypto but eager to learn!
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