THE FAITH OF BITCOIN | Bitcointalksearch.org

nullama

hero member

Activity: 952

Merit: 938

Quote from: DaNNy001 on May 18, 2022, 06:03:09 AM

I have a few questions about Bitcoin mining
Is Bitcoin a currency produced by someone or something?
If yes, then what will happen if the production stop?
What is the purpose of the 21million limit to Bitcoin mining?
And finally WHAT IS IT FAITH AFTER REACHING ITS LIMIT

I would recommend you to read all the original material that Satoshi Nakamoto wrote himself, starting from the whitepaper. That will give you a clear answer to all these questions.

Here's a website that provides links to all the emails, source code, and posts that Satoshi did when creating Bitcoin: https://satoshi.nakamotoinstitute.org

Once you read them you'll understand Bitcoin much better than the vast majority of people.

BitMaxz

legendary

Activity: 3206

Merit: 2904

Block halving is coming.

I think what you need is to read the Bitcoin history to learn more about Bitcoin and who created this link below

- https://en.wikipedia.org/wiki/History_of_bitcoin

And the production of Bitcoin it's not unlimited the max supply is 21,000,000BTC with circulating of around 19m BTC.

About its purpose, Satoshi Nakamoto never explain it why but to get some idea check this thread below

- https://bitcointalksearch.org/topic/why-is-the-bitcoin-limited-to-21-million-23624

About mining, if all bitcoin is mined then those who still mining(Miners) are still rewarded by fees.

DaNNy001

hero member

Activity: 378

Merit: 340

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I have a few questions about Bitcoin mining
Is Bitcoin a currency produced by someone or something?
If yes, then what will happen if the production stop?
What is the purpose of the 21million limit to Bitcoin mining?
And finally WHAT IS IT FAITH AFTER REACHING ITS LIMIT

Topic: THE FAITH OF BITCOIN (Read 161 times)