bitcoin Bitcoin's total amount.

[annayks 2314]

Ethereum is not safer from Bitcoin and if the network was more secure this wouldn't have to do with the number of coins but with the network. If Bitcoin wants they can change this and if Ethereum decides they can stop creating more coins too right now. It is all about who will make the more money this is like that.

[kryptonick 2659]

On 12/30/2019 at 3:46 AM, Stefan7 said:

So can you please tell me, why did he do it like that?

We don't know why my friend, and we don't know who Satoshi is to ask him. He has left Bitcoin 10 years ago and nobody knows who he is. It was supposed to be an asset with fixed supply and others say that it is a reason to have a good price but I don't know if this will keep happening or not.

[decemberends 1881]

Basically the demand is too much and they had to balanced it out with the other coins because too much of the bitcoin is very bad choice because its gonna be unfair to many coins sadly we had to deal with it we had no choice for this one.

[zhoutong 2188]

There will be only 21 million Bitcoin. This tells everything. I can't draw a diagram here with supply and demand but you should now in this case it is similar to a very rare object or a piece of art so price of each Bitcoin is rising when the cryptocurrency is wanted.

[Ahmet Özkaya 28]

It is said 21 million. And lest about 3 million. supply is almost over...

[Mosab73 333]

We do not deny that Bitcoin is the number 1 currency in cryptocurrencies and I believe that Satoshi Nakamoto determined the total amount of the Bitcoin currency because it has a purpose to perform over a period of time that may be tens of years, but if Bitcoin collapses then there are other cryptocurrencies such as Ethereum or XRP Ribble

[khan22 3478]

No one know the total amount of the BTC becasue in the crypto market there are so many coin and the BTC is also one of them and there is no limit of this coins peoples will just suggest the number of this coin but no one exactly know the real value of the all Bitcoin amount.

[Guru2050 8284]

And this is recognize as the most demanded Crypto coin placing it above the rest and therefore causing the value to spike upwardly almost every day, today it's has crossed the crucial resistance of $12500 targeting to hits $20'000 before the end of this year of 2020.

[Mcd0d0 5882]

10 hours ago, Sp19a1ma002 said:

I think no one give the best reviews about this because bitcoin value is not stable because they are fluctuating but now a days bitcoin value increase and reached near to 13 K dollar easily... So I think it's not based on the economy based model and other many things which are many people mention in his posts.  

As of now, the value of bitcoin reached the $12000 again and it rise up more up to $13000 which is a good for us because this is a sign that bull run is now totally happen, many people will get a huge amount of profit especially for those holders of bitcoin by selling their coins in huge value.

[Sykkuno 2887]

You have to read the early posts of Satoshi in his forum from 2009 until he left in 2010 to know why this was made this way and you will have a clear picture of what Satoshi wanted to create and if he made it happen or there is still more from Bitcoin to give ot us.

[Moaz 7239]

I think that Satoshi Nakamoto set the total number of Bitcoins around 21 million in order to raise its value in the future and make it scarce and thus increase its price significantly and avoid inflation, which negatively affects the price, and this was a good step from Satoshi Nakamoto in my opinion.

[freelancer 900]

I suppose this factor is clearly difficult to realize.No person knows what Satoshi has in thoughts. However, I believe in the future of BTC and we went thru a number of surprises after BTC halved in 2020.  But now the charge of Bitcoin is $ sixteen,500. At the start of 2021, it can move as much as $1800.

[Beryymark 126]

Bitcoin total amount is getting out of hand the way it is increasing in 2019 total amount of bitcoin is just 4000$,this present year which is 2020 bitcoin in total is now 24000$ even with this pandemic...indeed cryptocurrency is the future 

[The Game 2059]

On 12/30/2019 at 2:46 AM, Stefan7 said:

The biggest question I ask myself all the time is why Satoshi Nakamoto has specified the total number of bitcoins that are to be in circulation. He just has to make it unlimited as ETH. And it's even safer and more relaxed. So can you please tell me, why did he do it like that?

Exactly these is a nice content you brought here, and I have been wondering all these while, why did the genius specified the total amount of bitcoin that are to be circulated instead of making it unlimited. Although nobody the plans of the genius but I hope some of our expert here will shed more light to us on these content.

[Ameralsamt 2558]

My friend, Mr. Satoshi Nakamoto you did not expect the price of Bitcoin to rise to this extent, so he produced the limited number of bitcoins, and of course the increase in the currency in the market and the many pieces make it worthless, it is wonderful. 

[Khan 1414]

On 12/30/2019 at 6:50 PM, sdsonjoy50 said:

If the amount of one coin goes higher than the demand, then the value of this coin will not be high, so maybe he has made a limit, which is why the price of Bitcoin has risen so high.

Bitcoin total amount has so many claims and non of them is still a good guess because there are many news over the internet and some news says that the total amount is X million and X numbers of coins has been reserved/has someone/stolen etc, all these are fabricated news and lies.

[Whited35 15285]

On 12/30/2019 at 7:31 AM, Stefan7 said:

The biggest question I ask myself all the time is why Satoshi Nakamoto has specified the total number of bitcoins that are to be in circulation. He just has to make it unlimited as ETH. And it's even safer and more relaxed. So can you please tell me, why did he do it like that?

There can be number of reasons that Nakamoto has specified the total amounts of Bitcoin i.e. 21 millions which can be mined. I think, he/they intended to make Bitcoin more valuable by specifying its fixed value in circulation. Another theory suggests, 21 millions supply is just a mathematical coincidence. Have a look at this, 

The blocks can be mined per hour=6 blocks

The total blocks can be mined in 4 years=~210,000

Now, Total number of block reward sizes=100

So, Total Bitcoin=210000*100=21 millions 

😁

[Cleaner 2549]

4 hours ago, Whited35 said:

There can be number of reasons that Nakamoto has specified the total amounts of Bitcoin i.e. 21 millions which can be mined. I think, he/they intended to make Bitcoin more valuable by specifying its fixed value in circulation. Another theory suggests, 21 millions supply is just a mathematical coincidence. Have a look at this, 

The blocks can be mined per hour=6 blocks

The total blocks can be mined in 4 years=~210,000

Now, Total number of block reward sizes=100

So, Total Bitcoin=210000*100=21 millions 

😁

The total supply of Satoshi Nakamoto Bitcoin has been limited to 21 million.  Bitcoin is a very expensive currency.  Its price is increasing day by day.  Bitcoin is currently priced above 34K.  Is Satoshi Nakamoto and any company working to increase the supply of Bitcoin?

[selfmade 7]

On 12/30/2019 at 4:46 AM, Stefan7 said:

The biggest question I ask myself all the time is why Satoshi Nakamoto has specified the total number of bitcoins that are to be in circulation. He just has to make it unlimited as ETH. And it's even safer and more relaxed. So can you please tell me, why did he do it like that?

There would be a time when ether price growth would start to lag, satoshi nakamoto wanted bitcoin to cost higher in the future without ever stopping.

[Serbberq 724]

That is another rule for bitcoin which one that help for bitcoin to achieve progress while still the inventor is not around, there are some rules that bitcoin have that help to regulate it without anyone inteferance. 

[Whited35 15285]

4 hours ago, Cleaner said:

The total supply of Satoshi Nakamoto Bitcoin has been limited to 21 million.  Bitcoin is a very expensive currency.  Its price is increasing day by day.  Bitcoin is currently priced above 34K.  Is Satoshi Nakamoto and any company working to increase the supply of Bitcoin?

@CleanerBitcoin supply is fixed by codes and there is no way to increase its supply. It's already the decentralized system and even Satoshi Nakamoto has nothing to do here. Have you understood the calculation that I have provided in my previous comment ? Actually, it was based on the genuine mathematics to determine 21 millions total supply of Bitcoins. 

[Cleaner 2549]

1 hour ago, Whited35 said:

@CleanerBitcoin supply is fixed by codes and there is no way to increase its supply. It's already the decentralized system and even Satoshi Nakamoto has nothing to do here. Have you understood the calculation that I have provided in my previous comment ? Actually, it was based on the genuine mathematics to determine 21 millions total supply of Bitcoins. 

@Whited35...The supply of Bitcoin has been increased to 21 million.  However, the demand is increasing day by day.  As a result, its supply is decreasing day by day.  But what if the supply is reduced?  Can Bitcoin die then?

[Samotokika 1780]

On 12/30/2019 at 6:46 AM, Stefan7 said:

The biggest question I ask myself all the time is why Satoshi Nakamoto has specified the total number of bitcoins that are to be in circulation. He just has to make it unlimited as ETH. And it's even safer and more relaxed. So can you please tell me, why did he do it like that?

you are right but the number of Bitcoins are not fixed and after every having there is changes that composed and  the quantity is not fixed in this way.it changes.

[Bruno52 1141]

I think he might have done that to scare many members in the crypto world into selling their bitcoin so that it will become more valuable but this might just be a rumor as the real satoshi nakamoto has not been heard from for a long time.

[pax166 0]

On 12/30/2019 at 10:25 AM, BTC Future said:

Hello, I will make this clear for you because you don't provide valid information.

I hope you read my reply in order for you to understand exactly how this is working.

Satoshi coded Bitcoin in order to have a maximum of 21 million Bitcoin's. It has a cap and it cannot go above this.

Bitcoins are created every day with a process called mining. Today we have a little more than 18 million in total and around 1800 Bitcoins on average are mined daily, until the next halving which will be on May 2020. After the halving the daily production of Bitcoins will be exactly half of these. This is not exactly what is happening as in reality Bitcoins are mined with blocks and not daily, but I've given you a simpler version.

When Satoshi started running Bitcoin on his desktop there were 0 Bitcoin's mined, meaning that there were zero Bitcoins in circullation. He started mining the first block (block 0) that is also called "The Genesis block" that cointained 150 Bitcoins. A little later other people also started mining and adding hashrate to the network. 

The first halving occured in November 2012 and it halved production from 50BTC down to 25BTC. There were 10million Bitcoins mined until then.

Halvings occur every four years and it is a feature coded into Bitcoin.

So the total amount of Bitcoins that will ever exist are only 21million and no more.

Thanks mate for the thourough explanation. I have actually gained alot from this. But i have a question. What happens if all the 21 million bitcoins get mined.? Will bitcoin become obsolete or will there be another way to continue mining.