Only 16.7 million Bitcoins in circulation?

[Nana1]

I read an article recently that gave the number of bitcoins in circulation to be 16.7miion. The article also stated that, bitcoins are being regulated not to exceed 21million in circulation.

What is the reason behind this measure to limit circulating bitcoins to 21 million where as the world’s population is 7.3 billion?

Will many individuals not be denied easy access to earn and invest in bitcoin?

[5ensei]

Everyone can buy bitcoin, it will be traded in smaller denominations called satoshis (fractions of bitcoin). Based on the world population you can see that demand will outstrip supply so buying now at these low prices is one of the best investments available. USD is endless like all other cash currencies.

[Emma Alex]

I believe it is a good thing, there won't be more than 21 million of bitcoins. So it is limited. For that reason it will never lose its value the way our money is losing day by day.

[coinycoiny]

I read an article recently that gave the number of bitcoins in circulation to be 16.7miion. The article also stated that, bitcoins are being regulated not to exceed 21million in circulation.

What is the reason behind this measure to limit circulating bitcoins to 21 million where as the world’s population is 7.3 billion?

Will many individuals not be denied easy access to earn and invest in bitcoin?

There's no reason why everyone of earth's population could have their own crypto coin. Mine would be a clone of bitcoin, ergo it must be worth billions

[BCT_UserName]

It's a big number of BTC to mine

[avikz]

I read an article recently that gave the number of bitcoins in circulation to be 16.7miion. The article also stated that, bitcoins are being regulated not to exceed 21million in circulation.

What is the reason behind this measure to limit circulating bitcoins to 21 million where as the world’s population is 7.3 billion?

Will many individuals not be denied easy access to earn and invest in bitcoin?

Bitcoin is available in small denominations like 0.00000001 which is represented as satoshi. So one satoshi means one hundred millionth of one bitcoin. So distribution is not a problem here. The limitation is put in place just to control the supply. Whenever one asset is available in abundance, mankind doesn't realize its value. Just take an example of oxygen. It's available in abundance so we are not yet realizing its value.

 So to create a value chain, it has be limited in supply. I belive that is the only consideration behind its 21 million cap. This limitation has paved the way to create value for bitcoin by simple demand supply rule.

[dothebeats]

A fixed supply yet can be divided infinitesimally if necessary. Bitcoin is made this way in order for it to be scarce, thus creating some form of value due to scarcity. But that doesn't mean that the 21 million hard-cap restricts new people from coming in and getting their fair share of the pie. It's considered as money, so of course they need to work in order to take home some of the precious bits, and that is if they wanted to anyway. Also, on the 7.3 billion people, I don't think the vast majority would be glad to use bitcoins even in the next 5 years seeing that the development around the network has been slow--the economy of bitcoin has been in a slump and no new businesses are wanting to do anything with bitcoin as of late.

[Nana1]

Thanks for the education. You all make great sense!

[Xavofat]

The exact number (21 million) is arbitrary.  It's presumably just a rough estimate from satoshi of what BTC's value to users would be, and thus how many BTC needed to exist.

And the total amount of available units, which is 10^8 x 21 million or 2,100,000,000,000,000 units, appears to have been chosen in order to make it almost impossible for 1 satoshi to be worth more than one US cent was worth at that time.

Since users can just use smaller divisions if necessary, the current price of 1 BTC (which is basically 100,000,000 units) doesn't matter that much.

[shulio]

There are 21 million BTC but 2_100_000_000_000_000 satoshis. It will be enough for the everyone in the world.

[cryptohunter]

many are lost and will remain unrecoverable .... i have heard speculation that perhaps 2M or greater are out of circulation for good. So a final usable minting of 19M or less.

Every day more stories of forgotten pass, forgotten priv key, broken hdd's, etc.

[aeternus]

I read an article recently that gave the number of bitcoins in circulation to be 16.7miion. The article also stated that, bitcoins are being regulated not to exceed 21million in circulation.

What is the reason behind this measure to limit circulating bitcoins to 21 million where as the world’s population is 7.3 billion?

Will many individuals not be denied easy access to earn and invest in bitcoin?

The reason to limit the number of coins was very simple in order to create something that is valuable most of the time that something needs to be scarce, but you're not understanding the number of coins is irrelevant satoshi could have put the number at 100 million and that would mean that there will be roughly 85 million coins in circulation right now so nothing will change.

[nelsmining]

It is a relatively low number in order to promote the value of Bitcoin. That is if fear does not control emotions and limit its possibilities. The only thing that will really stop Bitcoin is the fear of the masses.

[dimastegar]

Bitcoin supply circulation is still at 16.7 million of 21 million total supply. Because some of the coins are still not in the mine, and still in the process of mine. And this will reach 21 million coins estimated in 2021.

[whoisyourking]

I read an article recently that gave the number of bitcoins in circulation to be 16.7miion. The article also stated that, bitcoins are being regulated not to exceed 21million in circulation.

What is the reason behind this measure to limit circulating bitcoins to 21 million where as the world’s population is 7.3 billion?

Will many individuals not be denied easy access to earn and invest in bitcoin?

The rest of the bitcoins are not mined already and some are alreadt lost from the early year there are many cases reported of their missing bitcoin. I read some articles that 10 million of bitcoin are in circulation tge rest are in storage of the big whale who manipulates the value.

[fanbeila]

The creator of bitcoin Satoshi has framed bitcoin in such a way that there should be only 21million bitcoins available for supply.Satoshi may have wished to make bitcoin free from deflation unlike US Dollars.

[Indrawan77]

I don't think there are any particular reason that btc got 21 million supply, but because of the limited number btc will become more valuable in the future, and if the price has become more expensive the people can buy and used bitcoin's fraction, the usage of alt coins is to balance the btc price, so when btc price is too high alt coin could be used for transaction

[kyucryp]

bitcoin like gold is limited to only 21 million coins means currently there are 4.3 million coins left. so if we have bitcoin then in the future we will gain profit. bitcoin is limited because to prevent inflation. and it is estimated bitcoin will be mined by 2040. i think all people in the world will not buy bitcoin but bitcoin can still be bought with fractional units such as 0.000001 (satoshi)

[muncuss]

many are lost and will remain unrecoverable .... i have heard speculation that perhaps 2M or greater are out of circulation for good. So a final usable minting of 19M or less.

Every day more stories of forgotten pass, forgotten priv key, broken hdd's, etc.

Remember me to poor james howell. Here say around 4 million bitcoins lost forever, so total supply 17m reached soon. i hope we'll find way to get them back

[heureca]

I read an article recently that gave the number of bitcoins in circulation to be 16.7miion. The article also stated that, bitcoins are being regulated not to exceed 21million in circulation.

What is the reason behind this measure to limit circulating bitcoins to 21 million where as the world’s population is 7.3 billion?

Will many individuals not be denied easy access to earn and invest in bitcoin?

Firstly, BTC supply chain is limited by its technology. Secondly, BTC could be divided in small parts (satoshi) so it is not a problem