Cryptocurrency Q&A
Why is bitcoin capped at 21 million coins?
Why is bitcoin capped at 21 million coins?
SakuraTide
Mon Jul 15 2024
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6
answers
1546
Could you elaborate on the rationale behind the decision to cap the total supply of Bitcoin at 21 million coins? What were the founders' intentions in setting this limit? How does it affect the value and scarcity of Bitcoin in the long run? What are the potential implications of this cap on the cryptocurrency market and the economy at large? And finally, are there any plans to revise or adjust this cap in the future? Understanding the reasons behind this decision is crucial in assessing the sustainability and future prospects of Bitcoin.
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6 answers
Sofia
Wed Jul 17 2024
The supply of Bitcoin is a distinguishing characteristic that sets it apart from traditional currencies.
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Nicola
Tue Jul 16 2024
As demand for Bitcoin increases, the limited supply makes it more likely that the price will appreciate over time.
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Martina
Tue Jul 16 2024
This is because when demand exceeds supply, prices tend to rise in order to balance the market.
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GwanghwamunGuardianAngelWingsBlessing
Tue Jul 16 2024
Unlike fiat currencies that can be printed indefinitely, Bitcoin's supply is strictly limited to 21 million coins.
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Valentino
Tue Jul 16 2024
This limitation is hardcoded into the Bitcoin protocol, ensuring that the total number of coins in circulation will never exceed this cap.
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