{"id":337933,"date":"2021-09-11T19:30:00","date_gmt":"2021-09-11T16:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/not-dead-yet-bitcoin-network-records-700000th-block-as-adoption-grows\/"},"modified":"2021-09-11T19:30:00","modified_gmt":"2021-09-11T16:30:00","slug":"not-dead-yet-bitcoin-network-records-700000th-block-as-adoption-grows","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/not-dead-yet-bitcoin-network-records-700000th-block-as-adoption-grows\/","title":{"rendered":"# Not dead yet: Bitcoin network records 700,000th block as adoption grows"},"content":{"rendered":"<p>&#8220;<strong># Not dead yet: Bitcoin network records 700,000th block as adoption grows <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvMDhmYWUwMWUtMTdmMS00YjY3LTliN2UtMmUwMDdiOTQwMTg5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) miners officially produced their 700,000th block on Sept. 11, marking a major milestone for a network whose detractors <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/99bitcoins.com\/bitcoin-obituaries\/\">claim<\/a> it has died 428 times since 2009.\u00a0<\/p>\n<p>It took Bitcoin less than two years to produce 100,000 more blocks after <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/pwuille\/status\/1436543819701530625?s=19\">reaching<\/a> 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.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">H<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>y 700000th block, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a>! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/24mpVKXK8e\">https:\/\/t.co\/24mpVKXK8e<\/a><\/p>\n<p>\u2014 Pieter Wuille (@pwuille) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/pwuille\/status\/1436543819701530625?ref_src=twsrc%5Etfw\">September 11, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>At the time of writing, Bitcoin\u2019s total supply was 18,812,806, or 89.5% of all the coins that will ever be produced. On average, new blocks are generated every ten minutes, though production time is impacted by mining difficulty. Bitcoin\u2019s mining difficulty is adjusted roughly every two weeks, a process that resets how hard it is for miners to mine the digital asset. At the current pace of block production, the final Bitcoin will be mined around the year 2140.<\/p>\n<p>Crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> celebrated the milestone by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DocumentingBTC\/status\/1436694374046478338\">quoting<\/a> the late Hal Finney, one of Bitcoin\u2019s early pioneers and a prime candidate for being Satoshi Nakamoto, the pseudonymous creator of the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>. Finney passed away from amyotrophic lateral sclerosis, or ALS, in 2014. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The 700,000th <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> block.<\/p>\n<p>&#8220;Every day that goes by and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> hasn&#8217;t collapsed due to legal or technical problems, that brings new information to the market. It increases the chance of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>&#8216;s eventual success and justifies a higher price.&#8221;<\/p>\n<p>\u2014 Hal Finney <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/RYzHHBodTe\">pic.twitter.com\/RYzHHBodTe<\/a><\/p>\n<p>\u2014 Documenting Bitcoin  (@DocumentingBTC) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DocumentingBTC\/status\/1436694374046478338?ref_src=twsrc%5Etfw\">September 11, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>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. <\/p>\n<p>While Bitcoin has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michael_saylor\/status\/1425376542671126528\">invited<\/a> attacks over its environmental footprint, the network\u2019s energy usage is a tiny fraction of total energy consumption. Efforts to incorporate clean energy into the mining process have largely proven to be successful, with some <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2021\/07\/20\/bitcoin-mining-environmental-impact-new-study.html#:~:text=Thiel%20says%20that%20most%20miners,than%2050%25%20powered%20by%20renewables.\">estimates<\/a> claiming that Bitcoin mining in the United States is more than 50% powered by renewable energy. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> energy usage is cleaner than every major industry and represents a rounding error in total energy consumption. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FriarHass?ref_src=twsrc%5Etfw\">@FriarHass<\/a> delivers a comprehensive analysis worth reading.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/9RSH8t5Z1U\">https:\/\/t.co\/9RSH8t5Z1U<\/a><\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@michael_saylor) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michael_saylor\/status\/1425376542671126528?ref_src=twsrc%5Etfw\">August 11, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Blockstream and Macquarie Group launch Bitcoin mining pilot program<\/em><\/strong><\/p>\n<p>Thanks to Bitcoin, cryptocurrencies have grown to become a more than $2 trillion asset class. Bitcoin\u2019s share of the overall market is 41%, or $857 billion, at the time of writing. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/not-dead-yet-bitcoin-network-records-700-000th-block-as-adoption-grows\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Not dead yet: Bitcoin network records 700,000th block as adoption grows &#8221; 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.\u00a0 It took Bitcoin less than two years to produce 100,000 more blocks after reaching&#8230;<\/p>\n","protected":false},"author":1,"featured_media":337934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvMDhmYWUwMWUtMTdmMS00YjY3LTliN2UtMmUwMDdiOTQwMTg5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74863,77912,76642],"class_list":["post-337933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-hal-finney","tag-satoshi-nakamoto"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/337933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=337933"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/337933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/337934"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=337933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=337933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=337933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}