Bitcoin block 700,000th

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Bitcoin block 700,000th

Baffometo

Baffometo

Bitcoin (BTC) miners officially produced their 700,000th block on Sept. 11, marking a major milestone for a network whose detractors claim it has died 428 times since 2009.

It took Bitcoin less than two years to produce 100,000 more blocks after reaching the 600,000 milestone on Oct. 18, 2019. At the time of the last 100,000-block milestone, the BTC price was worth less than $8,000. Today, one Bitcoin is worth over $45,500.

Bitcoin was programmed to be a self-regulating market with hard coded monetary policy that does not depend on any outside parties. Unlike the United States Federal Reserve, for example, which can affect the size and growth rate of the money supply at will, Bitcoin maintains a hard cap on supply and cannot be created without the massive energy input of miners.

Click here to view original web page at cointelegraph.com

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