Topic: Why is 21 Million maximum cap for bitcoin ? (Read 183 times)
Satoshi can sure pick any kind of number it can really be more that 21 million as easily as that but it is not so important how many Bitcoins will exactly be mined And just adjust block reward halving (210 000 blocks) Or it can be base on the rewards of miners that is 50, 20, 12.5, But I don't really think it can be an exact 21 million BTC or it can be near that or mostly more than that.
When Satoshi Nakamoto created what we now call as bitcoins, he only generated 21 million of it, there are many speculations as to why he chose to only create 21 million knowing that he intend bitcoin to be a currency of the internet. But no one knows exactly why he does. Some say it is based on market models, some say it was caused by programming limits. Other says that he just felt like 21 million bitcoins would be enough to be in circulation for the internet.
Nobody knows exactly why 21 million coins. It's maybe this,
Some say this is based on some market models and is set based on trust. Well actually this doesn't matter for bitcoin can have more divisibility. More divisibility than 8. This can be used. Adjust based on our needs.
The initial subsidy was 5,000,000,000 satoshis (50 BTC) per block. This value is halved every 210,000 blocks until it reaches zero. If you add up all the subsidies, you will get a number slightly less than 2,100,000,000,000,000 satoshis (21 million BTC).
It is not known exactly why 2,100,000,000,000,000 was picked, but it is thought that it was picked because it fits in the mantissa of a 64-bit floating point number, and the generation parameters are simple and reasonable.
It is not known exactly why 2,100,000,000,000,000 was picked, but it is thought that it was picked because it fits in the mantissa of a 64-bit floating point number, and the generation parameters are simple and reasonable.
Some say this is based on some market models and is set based on trust. Well actually this doesn't matter for bitcoin can have more divisibility. More divisibility than 8. This can be used. Adjust based on our needs.
After which mining is not possible as by every halving the blocks gets decreased. The same has made bitcoin grow high in value, because when supply to demand increases automatically the price will grow forward contributing to the capital volume of cryptocurrency as a whole.
The initial subsidy was 5,000,000,000 satoshis (50 BTC) per block. This value is halved every 210,000 blocks until it reachs zero. If you add up all the subsidies, you will get a number slightly less than 2,100,000,000,000,000 satoshis (21 million BTC).
It is not known exactly why 2,100,000,000,000,000 was picked, but it is thought that it was picked because it fits in the mantissa of a 64-bit floating point number, and the generation parameters are simple and reasonable.
It is not known exactly why 2,100,000,000,000,000 was picked, but it is thought that it was picked because it fits in the mantissa of a 64-bit floating point number, and the generation parameters are simple and reasonable.
This answer is informative thanks for sharing, the answer are well worded and well discussed but in the simple word the limit is set by the creator of bitcoin so if the bitcoin reaches the 21 million limits this is the last bitcoin that will circulate worldwide minus the forgotten bitcoins. Forgotten bitcoins is the bitcoin that will never get back and loss forever.
I don't know why people see 21million as not a large amount? In years to come more decimal places can be added one btc is still going to be worth one btc.
In reality tho there's going to be less than 21 million when we take into account the lost bitcoin.
In reality tho there's going to be less than 21 million when we take into account the lost bitcoin.
It was made to be that way. Probably because it was made to be 21 million maximum cap supply to increase it's value in the future for people to hold and value what cryptocurrency can do for the world.
Can some one explain why 21 million is the maximum cap for bitcoin.
Because Satoshi Nakamoto has decided so) But it's not the random decision! It was made for maintaining and increasing the value of the bitcoin in the future.
The initial subsidy was 5,000,000,000 satoshis (50 BTC) per block. This value is halved every 210,000 blocks until it reachs zero. If you add up all the subsidies, you will get a number slightly less than 2,100,000,000,000,000 satoshis (21 million BTC).
It is thought that 2,100,000,000,000,000 was picked because it fits in the mantissa of a 64-bit floating point number, and the generation parameters were reasonable.the numbers were reasonable
It is thought that 2,100,000,000,000,000 was picked because it fits in the mantissa of a 64-bit floating point number, and the generation parameters were reasonable.the numbers were reasonable
Very interesting, thanks for sharing.
Because that is the amount of coins generated when Bitcoin was created, and Bitcoin isn't some fiat money controlled by a government who anytime can print any amount of it and circulate it with the total cap. So the amount generated at that time, will always stay constant.
By the way, is that a bought account?
Because if you would have spent that much time to become a full member, you must have come to know this thing at least by now.
By the way, is that a bought account?
Because if you would have spent that much time to become a full member, you must have come to know this thing at least by now.Yep, that's the best part about Bitcoin and Crypto!
I think that's what capping them or those who invest or buy a bitcoin so it's a bit bigger than the supply of the bitcoin before and it's too low for the value and the other person does not legit bitcoin just got it
The initial subsidy was 5,000,000,000 satoshis (50 BTC) per block. This value is halved every 210,000 blocks until it reachs zero. If you add up all the subsidies, you will get a number slightly less than 2,100,000,000,000,000 satoshis (21 million BTC).
It is not known exactly why 2,100,000,000,000,000 was picked, but it is thought that it was picked because it fits in the mantissa of a 64-bit floating point number, and the generation parameters are simple and reasonable.
It is not known exactly why 2,100,000,000,000,000 was picked, but it is thought that it was picked because it fits in the mantissa of a 64-bit floating point number, and the generation parameters are simple and reasonable.
Because that is the amount of coins generated when Bitcoin was created, and Bitcoin isn't some fiat money controlled by a government who anytime can print any amount of it and circulate it with the total cap. So the amount generated at that time, will always stay constant.
By the way, is that a bought account? Because if you would have spent that much time to become a full member, you must have come to know this thing at least by now.
By the way, is that a bought account?
Because if you would have spent that much time to become a full member, you must have come to know this thing at least by now.
Can some one explain why 21 million is the maximum cap for bitcoin.
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