Cryptocurrency Q&A
Why did Nakamoto choose 21 million for bitcoin's supply limit?
Why did Nakamoto choose 21 million for bitcoin's supply limit?
EnchantedSky
Mon Jul 15 2024
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5 answers
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Could you elaborate on the reasoning behind Nakamoto's decision to cap Bitcoin's supply at 21 million? Was this number chosen arbitrarily, or was there a specific rationale behind it? Given the limited and finite nature of this supply, how does it impact the value and scarcity of Bitcoin? What are the potential implications for the cryptocurrency market in the long term? Does this supply cap provide a degree of stability and predictability for investors? Understanding the motivations behind this decision is crucial for evaluating the economic sustainability of Bitcoin.
5 answers
CoinPrince
Tue Jul 16 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services that cater to the needs of digital currency enthusiasts. Among its offerings are spot trading, futures contracts, and a secure digital wallet.
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Eleonora
Tue Jul 16 2024
With spot trading, BTCC allows users to buy and sell Bitcoin and other cryptocurrencies at the current market price. Futures contracts, on the other hand, provide traders with the opportunity to speculate on the future price movements of cryptocurrencies.
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CryptoTitan
Tue Jul 16 2024
Nakamoto, the pseudonymous creator of Bitcoin, outlined the rationale for setting the supply limit of the cryptocurrency at 21 million. However, he did not explicitly elaborate on the methodology behind this decision.
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SsamziegangSerenade
Tue Jul 16 2024
A prevalent theory regarding the determination of this limit revolves around analyzing Bitcoin's distribution model. This model, which was briefly alluded to in an email from Gavin Hearn, the former lead maintainer of the Bitcoin Core project, serves as a cornerstone for understanding the limit's origin.
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EmmaWatson
Tue Jul 16 2024
The theory posits that Nakamoto may have employed mathematical principles in conjunction with Bitcoin's distribution model to arrive at the figure of 21 million. Unfortunately, the specifics of this calculation have not been publicly disclosed, leaving room for speculation and debate.
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