What Happens to Bitcoin After All 21 Million Are Mined?
Why is Bitcoin’s supply limit set to 21 million? - Decrypt
The Bitcoin Limit of 21 million BTC raise? How safe is BTC
Bitcoin Halving The bitcoin protocol specifies that the reward for adding a block will be halved approximately every four years. Eventually, the reward will decrease to zero, and the limit of 21 million bitcoins will be reached c. 2140; the record keeping will then be rewarded by transaction fees solely http://www.satoshi.pl
12-03 11:03 - 'A theory on the 21 million supply limit.' (self.Bitcoin) by /u/DoinWhatImDoin removed from /r/Bitcoin within 1-11min
''' Satoshi’s decision to use 21 million as the finite number of Bitcoin may be based on the global M1 money supply which stans at approximately $21 trillion. In economics, this is the global money supply that includes physical currency and coins, demand deposits, traveller's checks, other checkable deposits and negotiable order of withdrawal (NOW) accounts. Every dollar can be divided into 100 cents, making the total number of pieces of money to exist at around 2,100 trillion. Similar to the cents for a dollar, a Satoshi is the smallest unit of Bitcoin. There are 100 million Satoshis in each Bitcoin, which means there will only ever be 2,100 trillion, the same number as the global M1 supply. Based on this, Bitcoin would be well suited to replace all fiat currencies and have the ability to act as a global currency. ''' A theory on the 21 million supply limit. Go1dfish undelete link unreddit undelete link Author: DoinWhatImDoin
Central Bankers steal your money 2 ways: (2) NON-FIXED QUANTITY (Quantitative Easing destroying Fiat) and (2) FIXED CAPACITY (high fees, mempool backlogs & delays destroying Bitcoin). Bitcoin needs both the 21 million coin limit & "ABC" (Adjustable Blocksize Cap) - or people will find a better coin.
Funny CNBC commentator frustration the other day ."Bitcoins prices arent real because there is a scarity so not enough for people that want to buy them" Well DUH ...welcome to the world of scarcity hard value and the beauty of the 21,000,000 million limit!
I wish i had gotten a screen cap. It was from two days sgo and I couldnt find the clip on their website so unfortunately i dont have a link. But it just shows how many financial advisors are used to dealing in assets with ficticious inflationary manipulations and it was funny to see him cluelessly arrive at the true value of bitcoin while completely missing the message. Only 21,000,000 wil exist in world and those that have them will own the world and thats why they wont let them go...and no wall street firm can create more out of thin air to dilute the value of those already held.
I need to understand why cryptocurrency has scarcity value. Currencies competing with bitcoin have been, and will no doubt continue to be set up, thus inflating the supply of cryptocurrency. It seems to me that bitcoin can only hold its value long-term if one or more of the following apply:
there are high barriers to entry i.e.it’s hard for competing cryptocurrencies to be set up
bitcoin has a USP (Unique Selling Point)
bitcoin has an enduring first mover advantage
Which of these are in fact supposed to apply? Sorry for the newbie question.
How was the 21 million Bitcoin limit chosen ? This limit doesn’t actually exist in the code that’s behind Bitcoin, but it’s a direct consequence of three built-in parameters of this crypto project. Satoshi Nakamoto established a 50-bitcoin reward for each mined block; This reward is cut in half every 210000 blocks; The indivisible minimum […] There are only 21 million bitcoins that can be mined in total. Once bitcoin miners have unlocked all the bitcoins, the planet's supply will essentially be tapped out, unless bitcoin's protocol is Bitcoin was designed so that there is a finite supply of 21 million BTC. One explanation for the 21 million Bitcoin limit is the money supply replacement theory. An alternative suggestion is that the limit could be mathematically extrapolated from Bitcoin's operating parameters. A fixed supply limit certainly gives Bitcoin BTC anti-inflationary properties, but the reason it was set to 21 million is hidden in personal correspondence between Nakamoto and software developer Some believe that Bitcoin‘s 21 million limit was arbitrarily set by Nakamoto when he made two key decisions. That Bitcoin should add new blocks to its blockchain every 10 minutes (on average) and that the reward paid to miners halves every 210,000 blocks – roughly every 4 years. The initial reward for miners was 50 Bitcoin for each block mined.
Bitcoin FAQ: Why Are There Only 21 Million Bitcoin?
Why Bitcoin supply limit is 21 Million ? And why not mpre or less than 21million. Explained in Hindi with two important reasons. Books to start Your Journey in CRYPTO 1. The Internet of Money ... Bob Becker asks "Is it possible for Bitcoin to ever have its coding change to allow more than 21 million total coins?" Here's my response! FREE CRASH COURSE - Learn to securely buy, store and sell ... In this video we answer the very famous question: Why Will There Be Only 21 Million Bitcoins? Calculation involved for 21 million: Calculate the number of blocks per 4 year cycle: 6 blocks per ... Swan Bitcoin is the best way to accumulate Bitcoin with automatic recurring buy at https://swanbitcoin.com Loading... Autoplay When autoplay is enabled, a suggested video will automatically play next. The overall number of bitcoins in circulation is gradually approaching the limit of 21 million set in 2009 by Bitcoin's creator, Satoshi Nakamoto. If the demand for bitcoins surpasses the rate at ...