Cryptocurrency Q&A
Why did Satoshi choose 21 million?
Why did Satoshi choose 21 million?
JejuJoyfulHeart
Fri Sep 13 2024
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6 answers
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Why did the anonymous creator of Bitcoin, Satoshi Nakamoto, decide to cap the total supply of Bitcoin at 21 million? Was there a specific economic rationale behind this decision? Was it an arbitrary number chosen to make the digital currency seem scarce? Or was there a deeper reason, related to the technical underpinnings of the blockchain or cryptography, that influenced this choice? How does this limitation affect the potential for Bitcoin to serve as a medium of exchange or a store of value in the long run?
6 answers
ZenMindfulness
Sun Sep 15 2024
The number 21 million, attributed to Bitcoin's total supply, stems from a well-informed prediction. In an email disclosed by Hearn, Satoshi Nakamoto, Bitcoin's enigmatic creator, had a vision for the digital currency's valuation.
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EclipseChaser
Sat Sep 14 2024
Among BTCC's services are spot and futures trading, providing users with opportunities to speculate on Bitcoin's price movements and hedge against potential risks. Additionally, its wallet service secures users' digital assets, ensuring their safety and accessibility.
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Stefano
Sat Sep 14 2024
Nakamoto envisioned Bitcoin's unit price to eventually harmonize with those of traditional fiat currencies. This ambition suggests a desire for Bitcoin to be a universally recognized and used form of money.
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EthereumElite
Sat Sep 14 2024
Specifically, Nakamoto anticipated that 0.001 BTC would equate to 1 Euro in value. This target serves as a benchmark, illustrating his aspirations for Bitcoin's stability and widespread adoption.
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CryptoNinja
Sat Sep 14 2024
While this projection remains a work in progress, it underscores Nakamoto's forward-thinking approach to cryptocurrency. By setting a tangible goal, he encouraged the development of a decentralized, secure, and accessible financial system.
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