21 million of standard gold bars in the world.

[Apocollapse]

This could illustrate to critics (who claim Bitcoin is far too expensive and too less in circulation) that the 21 million Bitcoin could be the 21 million "standard bars", and for trading in the smaller market, the smaller units.

Bitcoin isn't expensive, you don't have to buy the whole coins, instead, buy the fractions. People say Bitcoin is expensive because they want to get rich quick, that's why they choose a coin that the price is below than $1, whenever the price hit $1, they will earn 10x or mores.

Bitcoin circulation is big, there are many people trade Bitcoin everyday. The circulation is less because most of the coins are stored in centralized exchanges, that's why when people are trade in DEX or real P2P, it's lack of volume.

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[AprilioMP]

I don't want to say you are wrong about Satoshi orienting himself towards gold because based on reading about the origin of Bitcoin, it was created to provide convenience amidst the decline in people's trust in fiat currency which occurred due to the economic crisis.

Satoshi Nakamoto wanted to create a currency, electronic currency that can help people to save their assets against inflation from fiat currencies. People call Bitcoin as digital gold too but I am not sure Satoshi Nakamoto has ever written that he wanted to make Bitcoin as a digital gold.

At least the Bitcoin created by Satoshi is proof that humans who are willing to use their advanced minds for noble purposes will always be remembered and are proof that the mind can redeem the horizon.

If we don't know and are not sure whether Satoshi ever wrote that he wanted to turn Bitcoin into digital gold, then put this curiosity aside and continue searching with the easy access to the information space that we currently have. That's my concept of learning something.
I also haven't found any reading about Satoshi ever writing it.

[Hamza2424]

Not to be rude but I think your personal assumption isn't correct. It's strange to see someone comparing gold bars with Bitcoin total supply and that's somehow awkward if you ask me. I suggest you to do deeper research before making such assumptions.

Bitcoin supply is always limited to 21 Million and Gold bars will increase overtime when miner continue to mine more gold. We still aren't aware about many Gold mines which exist on this Earth so it would be foolish to assume that there will always be such amount even in future.

Hmm, well I don't think so there's nothing wrong with commenting on a person's view, the concept of 21 million Bitcoin and the supply of Gold in the bars comparison is ridiculous and at the same time we should acknowledge the fact that gold has no supply limit if you keep mining gold it will keep flowing into the market as unlimited supply.

[SamReomo]

Hmm, well I don't think so there's nothing wrong with commenting on a person's view, the concept of 21 million Bitcoin and the supply of Gold in the bars comparison is ridiculous and at the same time we should acknowledge the fact that gold has no supply limit if you keep mining gold it will keep flowing into the market as unlimited supply.

I highly agree with you, there's no limit on gold's supply and year after year we may see more gold bars. So comparing gold bards supply with that of Bitcoin doesn't make sense to me, and it's some kind of strange comparison.

The things which separate gold supply from Bitcoin's supply is the limit. Bitcoin is limited in supply, there will be total of 21 million Bitcoin ever but gold's supply continue increasing. Another thing we should keep in mind that Satoshi Nakamoto never said anything like that. In fact now that Satoshi and Martti Malmi e-mails are leaked, here's why Satoshi decided to make Bitcoin supply only 21 Million.

My choice for the number of coins and distribution schedule was an
educated guess.  It was a difficult choice, because once the network is
going it's locked in and we're stuck with it.  I wanted to pick
something that would make prices similar to existing currencies, but
without knowing the future, that's very hard.  I ended up picking
something in the middle.  If Bitcoin remains a small niche, it'll be
worth less per unit than existing currencies.  If you imagine it being
used for some fraction of world commerce, then there's only going to be
21 million coins for the whole world, so it would be worth much more per
unit.

[Zaguru12]

Did Satoshi choose 21 million as the cap, or did he just choose 50 blocks every 10 minute as starting reward, and halvening it every 4 years results in 21 million? Because if it's the latter, then 21 million is just an arbitrary number that is a result of another arbitrary number. But even in the first case it could be that 21 million is just an arbitrary number too.

He just pointed out his views about why bitcoin should have a limit instead of been unpredictable like the gold and just like you many people calculated the limit from the block reward which started from 50bitcoins per block and then halved every 210000 which was also estimated to be every four years so through the calculations until the block reward turns to zero the total bitcoin that would have been mined will be 20999999.9769 and many People Just approximate it for comfortability to the the 21 million everyone refers today, but will never be that definite number.

[Knight Hider]

Did Satoshi choose 21 million as the cap, or did he just choose 50 blocks every 10 minute as starting reward, and halvening it every 4 years results in 21 million? Because if it's the latter, then 21 million is just an arbitrary number that is a result of another arbitrary number. But even in the first case it could be that 21 million is just an arbitrary number too.

If 21 million would be a deliberate choice, it would have been 21,000,000.00000000 exactly. It's not. The slightly less than 21 million is the result of halvenings.

[Broly46]

I think it is very interesting revelation

[tbct_mt2]

There's no such inspired by standard gold bars or something else, it's purely by math. Don't make something that can be proven by math into assumption or personal opinion, that's misleading.

Owning one Bitcoin isn't necessary means you own 12.4 kg gold bar, Bitcoin is an intangible asset.


https://bitcoinmagazine.com/markets/what-if-money-printed-went-straight-to-bitcoin

   Calculate the number of blocks per four year cycle:

    6 blocks per hour
    * 24 hours per day
    * 365 days per year
    * 4 years per cycle
    = 210,240
    ~= 210,000

    Sum all the block reward sizes:

    50 + 25 + 12.5 + 6.25 + 3.125 + … = 100

    Multiply the two:

    210,000 * 100 = 21 million.

You shared some great resources to explain Bitcoin total supply that is 21 million bitcoins or more exactly, it is 20999999.9769 bitcoins [1].
It is coded by Satoshi Nakamoto with only 5 lines of code. [2]

The blog post from Jameson Lopp explains it in more details.



[1] Bitcoin's Controlled supply.
[2] How is the 21 million Bitcoin cap defined and enforced?

[Bitco55]

There are approximately 187,000 million kilograms of gold available all over the world ( there's a probability of this piece of information being wrong). So, even if you were just assuming, broo .. you're still wrong. It's quite sad, everyone is saying the same thing, that you're wrong of course, really wanted to see if there would be a little fact in what you wrote down.

And honestly, if we're looking for facts in what you've written down, then I'd say that Satoshi created an alternative to money just like hold is an alternative to money. And about the fact that they're both assets, yes, that's true. They also have a few other similarities but the quantity of Bitcoin relating to gold is off the radar.