https://en.bitcoin.it/wiki/Controlled_Currency_Supply
http://bitcoinmagazine.com/2842/block-reward-halving-a-guide/
Topic: Exactly 21 Million ? - page 2. (Read 1940 times)
by 2140, everyone that's alive right now will be dead and gone... not our problem..
Not necessarily.
http://www.alcor.org/FAQs/index.html
-B-
I thought it was 2040 we will started to enter the decimal amounts of bitcoins per block..
And i also thought the 21m was slightly lower than the final amount of coins produced... Can anyone back me up on this?
It should be simple enough to do the maths and work that out..
And i also thought the 21m was slightly lower than the final amount of coins produced... Can anyone back me up on this?
It should be simple enough to do the maths and work that out..
by 2140, everyone that's alive right now will be dead and gone... not our problem..
the only thing I can hope for is each BTC goes up in value to about $100K. That way people would own just fractions of a BTC and still be doing quite good..
the only thing I can hope for is each BTC goes up in value to about $100K. That way people would own just fractions of a BTC and still be doing quite good..
i've asked similar questions about hitting the 21 million mark and came to the conclusion it will not happen.
Note that as a consequence of the math and precision used it's not actually 21 million, but 20,999,999.9769 - which apparently can be tweaked a bit to give 20,999,999.999999999496 . Of course right now the smallest unit being handled is 0.00000001, so (and at this point I'm guessing - not sure how the code behaves for this) it would actually end up being 20,999,999.99999999. 21 million is close enough, though.
The reward continues to half; when it halves too much, the block reward will round to 0.
Cool, so as long as the smallest unit is 10^-8 it rounds out at that point. Thanks.
As bitcoin approaches 2140, when "the last satoshi is created," how does the protocol handle this operation? Additionally, when people say, "there will never be more than 21 million bitcoins created," does that mean that technically there will not be more than 21 million bitcoins but that there can be slightly more than 21 million and it will never hit 22 million? In other words, is there an asymptote at 21 million, or 22 million, or neither because when the last satoshi is created is the exact same time it technically hits 21 million and the protocol checks and stops coinbase rewards?
The reward continues to half; when it halves too much, the block reward will round to 0.
As bitcoin approaches 2140, when "the last satoshi is created," how does the protocol handle this operation? Additionally, when people say, "there will never be more than 21 million bitcoins created," does that mean that technically there will not be more than 21 million bitcoins but that there can be slightly more than 21 million and it will never hit 22 million? In other words, is there an asymptote at 21 million, or 22 million, or neither because when the last satoshi is created is the exact same time it technically hits 21 million and the protocol checks and stops coinbase rewards?
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