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Topic: Bitcoin Coin Cap - page 2. (Read 1619 times)

legendary
Activity: 3472
Merit: 10611
May 17, 2017, 12:40:24 AM
#2
consensus is stopping it.
it means if someone randomly creates new coins (outside of what the protocol allows) it will be rejected by the rest of the network. in other words that will be a fork of bitcoin. like altcoins.

a block is where transaction data is permanently being recorded. https://en.bitcoin.it/wiki/Block
coin can mean many things depending on the context. it can be shorter for bitcoin like what Satoshi refers to in the bitcoin white paper. or it can mean the transaction outputs since there is no such thing as "coins" or "bitcoin" exactly and all there is are transactions.
newbie
Activity: 4
Merit: 0
May 17, 2017, 12:26:48 AM
#1
Hello everyone. I am quite new to Bitcoin, yet I do understand the basics. One of the questions I would like to be clarified is how the Bitcoin 'coins' are capped off at 21 million? What stops a hacker from just randomly creating new coins? And what is the difference between a block and a coin? Is a coin a shorter term for Bitcoin?
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