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Topic: Why Satoshi Choose 21,000,000 BTC limit? (Read 135 times)

member
Activity: 295
Merit: 98
October 07, 2022, 03:14:58 AM
#2
In my opinion that he choose this 21 Million BTC supply because it was tough decision and also The limiting factor is the max value of a 64 bit integer


I don't think it's your Opinion, Satoshi clearly stated his choice for the total supply of Bitcoin. You should take your time to carefully read all the conversation on the link you provided. https://plan99.net/~mike/satoshi-emails/thread1.html
Quote
My choice for the number of coins and distribution schedule was an educated guess.  It was a difficult choice, because once the network is going it's locked in and we're stuck with it.  I wanted to pick something that would make prices similar to existing currencies, but without knowing the future, that's very hard.  I ended up picking something in the middle.  If Bitcoin remains a small niche, it'll be worth less per unit than existing currencies.  If you imagine it being used for some fraction of world commerce, then there's only going to be 21 million coins for the whole world, so it would be worth much more per unit.  Values are 64-bit integers with 8 decimal places, so 1 coin is represented internally as 100000000.  There's plenty of granularity if typical prices become small.  For example, if 0.001 is worth 1 Euro, then it might be easier to change where the decimal point is displayed, so if you had 1 Bitcoin it's now displayed as 1000, and 0.001 is displayed as 1.
member
Activity: 126
Merit: 39
October 07, 2022, 02:39:26 AM
#1
In my opinion that he choose this 21 Million BTC supply because it was tough decision and also The limiting factor is the max value of a 64 bit integer (18,446,744,073,709,551,615) and 21,000,000 BTC is represented as 2,100,000,000,000,000 satoshis.
That's the reason he just choose this numbers and that's full time incredible 😂

More Answers from Chat: https://plan99.net/~mike/satoshi-emails/thread1.html
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