As of 16th May, 2017, the total number of Bitcoins that have been mined are 16,334,213. You can get up to date details of number of bitcoins in circulation on Bitcoins in circulation
The closer the number of bitcoins mined is to 21 million (the maximum number of bitcoins that can be in circulation), the more difficult it gets to mine more.
Topic: There's a finite numbers of bitcoins. (Read 116 times)
Bitcoin even altcoins are always base their value through the demand and supply. Unlimited supply can cause the price down that's why there is a limited or finite amout of bitcoin to mine and bring to the market that makes the bitcoin become valuable like gold. Because if the demand is high and there is a lower supply the tendency is a higher price and great value.
You would think that because there's no need to physically print the bills or mint the coins that there be an infinite number of bitcoins in existence; however that would be devalue the currency and render it worthless. Instead, there are exactly 21,000,000 bitcoins.
The finite or limited amount of bitcoin made it's price too expensive,if it is unlimited the price will be too low.So now the little change in the demand and supply will change the price of bitcoin thats why bitcoin price is too volatile.
t there be an infinite number of bitcoins in existence; however that would be devalue the currency and render it worthless.
infinite number of coins won't make the coin "worthless". it can still be worth something like Dogecoin. what the unlimited supply does is that it will always push the price down because there is always more supply existing and being created than there can ever be demand for.
You would think that because there's no need to physically print the bills or mint the coins that there be an infinite number of bitcoins in existence; however that would be devalue the currency and render it worthless. Instead, there are exactly 21,000,000 bitcoins.
There are no 21000000 bitcoins, they have not been minted yet.To date, about 4000000 bitcoins have been lost.
You would think that because there's no need to physically print the bills or mint the coins that there be an infinite number of bitcoins in existence; however that would be devalue the currency and render it worthless. Instead, there are exactly 21,000,000 bitcoins.
Yes, of course and everybody who is involved with Bitcoin already know this fact. This is one of the most important pillars why Bitcoin has risen in value in the past few months. While the demand is expanding, there is a fixed or finite number of supply. We are then banking on this important Bitcoin feature to make Bitcoin become very resilient in the face of changes and evolving marketplace. The issue of bubble popping can partly be contained all because no one is manufacturing or printing or minting more Bitcoin as the supply has been fixed by Satoshi Nakamoto when this cryptocurrency started. How he came up with that fixed amount of supply is anybody's guess.
I agree. But I dont think it is as exact as that. It might undergo a certain rate of change in its market cap.
You would think that because there's no need to physically print the bills or mint the coins that there be an infinite number of bitcoins in existence; however that would be devalue the currency and render it worthless. Instead, there are exactly 21,000,000 bitcoins.
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