Bitcoin Nears Supply Cap Milestone Amidst Broader Digital Infrastructure Concerns
Bitcoin Nears Supply Cap Milestone Amidst Broader Digital Infrastructure Concerns
Bitcoin has reached a significant milestone, with over 95% of its 21 million supply cap now mined, leaving less than 1.05 million BTC for the next 115 years. This '5% era' presents new challenges and potential dangers for miners and the network. Concurrently, a global internet outage caused by a centralized bottleneck highlighted the fragility of digital infrastructure, impacting services worldwide and raising questions about centralized dependencies in the digital ecosystem.
Bitcoin's Supply Cap Nears a Critical Phase
Bitcoin crossed a watershed moment in its monetary history on Nov. 17, surpassing 19.95 million mined coins and pushing the network past 95% of its immutable 21 million supply cap. This leaves the network with less than 1.05 million BTC to mine over the next 115 years. While the milestone itself reflects progress towards scarcity, miners anticipate that the 'most dangerous part' of this new era is only beginning, hinting at evolving dynamics for the network and its participants.
Global Internet Outage Highlights Centralization Risks
A significant global internet outage occurred due to an internal service degradation at a single company (Cloudflare), disrupting access to services worldwide. This event underscored the inherent risks and dependencies associated with centralized bottlenecks in the digital world, revealing how much global traffic relies on a few critical providers. The incident highlights ongoing vulnerabilities within essential internet infrastructure and prompts discussions on the need for more resilient, distributed systems.