Cryptocurrency Q&A
How many Bitcoins can be created?
How many Bitcoins can be created?
VoyagerSoul
Wed Jul 10 2024
|
6 answers
1484
Could you elaborate on the maximum number of Bitcoins that can be mined and generated in the entire Bitcoin network? I understand that Bitcoin is a decentralized digital currency, but is there a limit to its supply? If so, what is that limit? And is there a set timeline for when all Bitcoins will be mined? I'm curious to know if this scarcity factor is a major contributor to Bitcoin's value.
6 answers
JejuSunrise
Fri Jul 12 2024
This limitation is intended to maintain the scarcity and value of Bitcoin, as a limited supply tends to drive demand and pricing upwards.
Was this helpful?
108
58
Raffaele
Fri Jul 12 2024
Bitcoin, commonly abbreviated as BTC, is a cryptocurrency that follows the principle of a finite supply.
Was this helpful?
109
60
Carlo
Fri Jul 12 2024
This design aspect ensures that there is a predetermined and unalterable upper limit on the total number of Bitcoins that can be created.
Was this helpful?
355
35
SakuraBloom
Fri Jul 12 2024
The creator of Bitcoin, Satoshi Nakamoto, established this upper limit to be precisely 21 million Bitcoins.
Was this helpful?
295
93
KpopHarmonySoul
Thu Jul 11 2024
The finite supply also serves as a safeguard against inflation, as the total number of Bitcoins cannot exceed the set limit.
Was this helpful?
338
65
Load 5 more related questions
