How much Bitcoin is left to be produced? Only 21 million Bitcoin will ever be produced for the rest of eternity…
So how much Bitcoin is in circulation? 18,258,987 Bitcoins have already been produced and are in circulation. That leaves roughly 2.7 million Bitcoins to be produced over the next 120 years, after which no more Bitcoins will be produced.
Period, end of story.
The fixed amount of Bitcoin is written into the Bitcoin software. This is open sourced software which anybody can read. At any time.
Now with 7.5 Billion people in the world, and since almost none of them own any Bitcoin. Chances are growing more and more slim each day you will ever own a complete full (1) Bitcoin.
If 7.5 Billion people were to try and buy some Bitcoin; divide this by the remaining 2.7 million Bitcoins to be produced, thus everybody in the world could buy roughly .00036 Bitcoins.
If all those people went to buy, that alone could drive the price of Bitcoin through the roof!
To further compound you buying Bitcoin, in the past year Bitcoin’s price has risen $5900 per Bitcoin; however nearly 60% of all of those Bitcoins in circulation have not moved or changed hands in over 1 year. So these people holding Bitcoin must believe it has value, and with such a big price increase they didn’t sell, so that might make it even harder for you to purchase Bitcoin at a decent price.
Can Bitcoin be refunded? To simply put it, “No” Bitcoins cannot be refunded. The only possible way a transaction could be refunded would be to request the receiver of the Bitcoins to send them back to you. There is no dispute mechanism with Bitcoins.
Can Bitcoin be traced? Yes very much so. Bitcoin is very traceable, so much so, the authorities are now using this so they can track down “bad actors” that use Bitcoin for illegal purposes. When Bitcoin first came out, the perception was that Bitcoin was anonymous and untraceable. Both of which have been proven to be false. Read below how authorities are using Bitcoin to their advantage:
Ross Ulbricht was the creator of the website called the “Silk road” and it was located on the “dark internet”. It was used for buying and selling of illegal products/activities. The authorities used the Bitcoins to trace back the transactions and eventually catch up to the creator “Ross Ulbricht”. So if you think you’re going to get away with a transaction by using Bitcoins, think again.
If you want to remain anonymous, you would be much better off using CASH.