Cryptocurrency Q&A
What is bitcoin's maximum supply?
What is bitcoin's maximum supply?
DigitalDragonfly
Thu Jul 11 2024
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7 answers
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Inquiring minds want to know, what is the definitive limit on the total supply of bitcoin? Given the decentralized and finite nature of the cryptocurrency, does it have a cap on the number of coins that can ever be mined? And if so, what is that number? Understanding the maximum supply is crucial for investors, traders, and enthusiasts alike to gauge the potential scarcity and value of Bitcoin in the long term. Can you elaborate on this fascinating aspect of bitcoin's economic model?
7 answers
CryptoPioneer
Sat Jul 13 2024
Cryptocurrencies, particularly Bitcoin, differ significantly from traditional assets. A defining characteristic is its definite and fixed supply figure.
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CryptoWizard
Sat Jul 13 2024
Known as the maximum supply, this represents the utmost number of Bitcoin units that can exist. Unlike traditional currencies with flexible supply, Bitcoin's supply is predetermined and immutable.
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SejongWisdomKeeperEliteMind
Sat Jul 13 2024
The maximum supply of Bitcoin is set at 21 million units. This figure was carefully chosen by the founders of Bitcoin and has since become a cornerstone of the currency's economic model.
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SakuraDance
Sat Jul 13 2024
The rationale behind this choice was explained by Ray Dillinger, a noted cryptographer and one of the first individuals to review the Bitcoin source code. He provided insights into the economic considerations behind this decision.
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Martina
Fri Jul 12 2024
According to Dillinger, the 21 million cap was chosen to mimic the scarcity of precious metals like gold. By limiting the supply, Bitcoin aims to retain its value over time, much like gold does.
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