Cryptocurrency Q&A
What is the supply of Bitcoin (BTC)?
What is the supply of Bitcoin (BTC)?
LucyStone
Tue Jul 09 2024
|
5 answers
966
Could you elaborate on the question regarding the supply of Bitcoin (BTC)? Specifically, I'm curious to know about the fixed nature of its supply and how it differs from traditional currencies. Is there a limit to the number of Bitcoins that can be created? If so, what is that limit and how does it impact the value and scarcity of the currency? Additionally, is the supply of Bitcoins influenced by mining or any other factors? Understanding the supply mechanism of Bitcoin would help me grasp its economic implications and potential as a digital asset.
5 answers
Bianca
Thu Jul 11 2024
Bitcoin, often denoted as BTC, is a remarkable asset in today's world of abundance. It differs from most other commodities due to its scarcity.
Was this helpful?
140
51
Stefano
Thu Jul 11 2024
This scarcity is rooted in its original design. Satoshi Nakamoto, the pseudonymous creator of Bitcoin, set a clear limit on the total supply of the digital currency.
Was this helpful?
224
66
Federico
Thu Jul 11 2024
The maximum supply of Bitcoin is capped at 21 million coins. This limit ensures that Bitcoin cannot be inflated indefinitely, unlike traditional fiat currencies.
Was this helpful?
228
25
Valentina
Wed Jul 10 2024
The limited supply of Bitcoin contributes to its perceived value. As the demand for Bitcoin increases, the price tends to rise due to the fixed supply.
Was this helpful?
114
35
Andrea
Wed Jul 10 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services for Bitcoin enthusiasts. These include spot trading, futures contracts, and secure wallet solutions.
Was this helpful?
260
79
