Eventually, the reward will round down to boringbitcoinreport zero, and the limit of 21 million bitcoins will be reached c. 2140; the record keeping will then be rewarded by transaction fees only. If the private key is lost, the bitcoin network will not recognize any other evidence of ownership; the coins are then unusable, and effectively lost. For example, in 2013 one user claimed to have lost 7,500 bitcoins, worth $7.5 million at the time, when he accidentally discarded a hard drive containing his private key. About 20% of all bitcoins are believed to be lost -they would have had a market value of about $20 billion at July 2018 prices. The average lifespan of Bitcoin mining devices is estimated to be only 1.29 years. Other estimates assume that a Bitcoin transaction generates about 380g of e-waste, equivalent of 2.35 iPhones. Unlike most computing hardware the used application-specific integrated circuits have no alternative use beyond Bitcoin mining.
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