Cryptocurrency Q&A
Is the supply of bitcoins limited?
Is the supply of bitcoins limited?
Dario
Mon Jul 08 2024
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5 answers
695
Could you elaborate on the question of whether the supply of bitcoins is limited? Given the unique nature of cryptocurrencies and the technology behind them, I'm curious to understand the mechanism that governs the issuance of bitcoins. Does the Bitcoin network have a predefined limit on the total number of bitcoins that can be created? If so, what is that limit and how does it impact the value and scarcity of bitcoins in the long run? Furthermore, does this limitation have any implications on the overall stability and sustainability of the Bitcoin ecosystem? Your insights would be greatly appreciated.
5 answers
KatanaBladed
Wed Jul 10 2024
Cryptocurrencies indeed have a finite supply, which ensures scarcity and potential value appreciation.
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NebulaChaser
Tue Jul 09 2024
Despite the limited supply, cryptocurrencies are divisible to an extremely small degree, offering flexibility in transactions.
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HanRiverVision
Tue Jul 09 2024
The smallest unit of Bitcoin, known as a satoshi, represents a value of 1/10,000,000 of a Bitcoin.
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CoinPrince
Tue Jul 09 2024
This divisibility allows for a vast array of transactions, even with the overall limit of 21 million Bitcoins.
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Emanuele
Tue Jul 09 2024
Multiplying 21 million by 10 million (due to the decimal divisibility) gives us an astronomical number of units that can be utilized for various transactions.
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