Miner Generates 800,000 Blocks on Bitcoin Community

  • On-chain analysts have highlighted a number of milestones that Bitcoin has achieved since its start.
  • Checkmate’s evaluation covers the overall variety of blocks mined on the Bitcoin community.
  • In keeping with Checkmate, miners have generated 800,000 blocks on the Bitcoin community.

Glassnode’s lead on-chain analyst highlighted a number of milestones achieved by Bitcoin. Since its inception over 14 years in the past. Posting on Twitter beneath the username Checkmate, the analyst shared statistics in regards to the pioneering cryptocurrency, together with the overall variety of blocks mined on the Bitcoin community since its creation.

In keeping with Checkmate, miners have generated 800,000 blocks on the Bitcoin community, equal to mining 19,437,000 Bitcoins. Checkmate additionally famous that 268,700 bitcoins have been paid in charges to miners on the community since bitcoin’s inception. Utilizing the present worth of Bitcoin, Checkmate estimated that the historic earnings of Bitcoin miners are value $52.593 billion. This displays a median payout of $65,700 per block for his 800,000 blocks mined.

Checkmate emphasised that out of the 19,437,000 Bitcoins mined through the years, about 1,457,000 Bitcoins are nonetheless unused. This represents roughly 7.5% of the overall quantity of Bitcoin mined. On-chain analysts imagine that this line of bitcoins has most likely been misplaced and should by no means be recovered. Checkmate additionally famous that 14.5 million bitcoins, or 74.6% of all bitcoins, are usually not saved on exchanges by long-term holders. Brief-term holders held 2.68 million BTC whereas exchanges held 2.25 million BTC.

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One other Bitcoin stat Checkmate highlights is Bitcoin Unspent Transactions (UTXO). He identified that Bitcoin’s UTXOs embody 163.6 million UTXOs. Through the years, he has created 2.439 billion of his UTXOs on the Bitcoin community, of which he has already consumed or destroyed 2.275 billion.

Checkmate defined that Bitcoin quantity transfers contain the creation and destruction of UTXOs. Thus, over the 800,000 Bitcoin blocks created, he has transferred over 8.378 billion Bitcoins. This equates to a median of 10,473 Bitcoins spent per block. Checkmate famous that the Bitcoin community has settled $109 trillion value of transactions in USD phrases, equating to a median of $137 million per block.


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