What is the total supply of bitcoin coins?
Morgan NilssonDec 17, 2021 · 3 years ago3 answers
Can you please explain what the total supply of bitcoin coins refers to and how it is determined?
3 answers
- Dec 17, 2021 · 3 years agoThe total supply of bitcoin coins refers to the maximum number of bitcoins that will ever exist. It is determined by the underlying protocol of Bitcoin, which sets a limit of 21 million bitcoins. This limit was put in place to create scarcity and prevent inflation. Currently, there are around 18.5 million bitcoins in circulation, and the remaining bitcoins will be gradually mined over time until the total supply reaches 21 million.
- Dec 17, 2021 · 3 years agoThe total supply of bitcoin coins is a fixed number that represents the maximum number of bitcoins that will ever be created. This limit of 21 million bitcoins was established by the creator of Bitcoin, Satoshi Nakamoto. As of now, around 18.5 million bitcoins have been mined, and the remaining bitcoins will be gradually released through the mining process. It's important to note that the total supply of bitcoins cannot be changed or increased.
- Dec 17, 2021 · 3 years agoThe total supply of bitcoin coins is determined by the Bitcoin protocol and is fixed at 21 million bitcoins. This limit ensures that there will never be more than 21 million bitcoins in existence. Currently, there are around 18.5 million bitcoins in circulation, and the remaining bitcoins will be mined over time. This limited supply is one of the factors that contribute to the value and scarcity of bitcoin.
Related Tags
Hot Questions
- 90
What are the advantages of using cryptocurrency for online transactions?
- 65
What are the best digital currencies to invest in right now?
- 64
What are the best practices for reporting cryptocurrency on my taxes?
- 49
How does cryptocurrency affect my tax return?
- 46
What are the tax implications of using cryptocurrency?
- 31
How can I protect my digital assets from hackers?
- 27
Are there any special tax rules for crypto investors?
- 26
How can I buy Bitcoin with a credit card?