Cryptocurrency Q&A
Does bitcoin have a 21 million limit?
Does bitcoin have a 21 million limit?
KpopHarmonySoulMateRadiance
Mon Jul 15 2024
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7 answers
1814
As a cryptocurrency enthusiast, I'm curious about the fundamental principles that govern the digital asset economy. Specifically, the question that piques my interest is: Does Bitcoin have a 21 million limit? The answer to this question is crucial as it touches upon the scarcity and value proposition of Bitcoin. The 21 million figure has been touted as a key factor in Bitcoin's economic model, suggesting that once this limit is reached, no more coins can be mined. This limitation, in theory, should increase the value of Bitcoin over time as demand continues to rise. But is this truly the case? Let's delve deeper into this topic and uncover the truth behind this often-cited number.
7 answers
CosmicDreamWhisper
Wed Jul 17 2024
Cryptocurrency enthusiasts and practitioners alike are often fascinated by the intricacies of Bitcoin's development.
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mia_clark_teacher
Wed Jul 17 2024
A noteworthy aspect, highlighted by esteemed core developer Pieter Wuille, revolves around a curious claim about Bitcoin's limited supply.
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DigitalLegend
Wed Jul 17 2024
Wuille humorously explains that the narrative goes, Bitcoin was supposedly designed to appear as if it had a cap of 21 million coins, but through clever programming, this limit was not actually enforced.
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Giulia
Tue Jul 16 2024
This assertion, though tongue-in-cheek, underscores the technical sophistication and flexibility of Bitcoin's codebase.
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Margherita
Tue Jul 16 2024
However, to address any potential misunderstandings or misperceptions, BIP 42 was introduced as a backwards-compatible solution.
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