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Author Topic: whether bitcoin is limited to only 21 million ?  (Read 369 times)
sonnyacg
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September 18, 2016, 05:12:37 AM
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according to sources in circulation turns bitcoin is limited only 21 million pieces Bitcoin, is that correct?

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September 18, 2016, 05:14:44 AM
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according to sources in circulation turns bitcoin is limited only 21 million pieces Bitcoin, is that correct?

yes it is called Controlled supply. https://en.bitcoin.it/wiki/Controlled_supply


sonnyacg
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September 18, 2016, 05:26:00 AM
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according to sources in circulation turns bitcoin is limited only 21 million pieces Bitcoin, is that correct?

yes it is called Controlled supply. https://en.bitcoin.it/wiki/Controlled_supply


Yes, I understand. I think the source of this money comes from the device Satoshi Nakamoto?

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chixka000
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September 18, 2016, 06:09:34 AM
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Limitation is always benefial to all of us. Because if you are not going to put some limitations on the things people might surely abuse those i guess that was halving for if im right to cut the supply in half?

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myferrari
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September 18, 2016, 06:18:07 AM
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Yes, 21 million, but anyone knows why Satoshi Nakamoto set 21 million as total supply? Any hint?

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September 18, 2016, 07:04:24 AM
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Yes, 21 million, but anyone knows why Satoshi Nakamoto set 21 million as total supply? Any hint?
as far as i know he never explained why, but the 21 million is more of an product of the starting reward, that is then halving every 4 years or 210000 blocks until you basically are at zero reward. so it depends more on the variables which he never explained why he choose them like there are.

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September 18, 2016, 07:19:07 AM
 #7

Yes, I understand. I think the source of this money comes from the device Satoshi Nakamoto?
No, there is no "device Satoshi Nakamoto". The coins are created on a protocol level as a reward for the miners securing the chain.
Quote
These "bitcoins" are really just mathematical tokens which are very carefully controlled by the network protocol to prevent counterfeiting, theft, etc.
You can find more on StackExchange.

as far as i know he never explained why
There doesn't need to be an explanation for something that may very well be an arbitrary number as long as the limit remains fixated.


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