Reasons Why Bitcoin Circulation is Restricted

[hmind 0]

Basically, 21 million were chosen to make calculations simpler. 21 is also a triangle number which makes it very interesting. For example, if you stack 6 blocks on 5 blocks on 4 blocks, and so on. You can make an equilateral triangle with a total of 21 blocks.

 

Another reason for this 21 million statute was once archived by Satoshi, the inventor of the first Bitcoin. He gave a message calling this a difficult choice because if the network was locked, we would be stuck with it.

 

The following is Satoshi's complete statement.

"If you imagine, this is used for a small part of world trade, then there will only be 21 million coins for the whole world, this will make it more valuable per unit. The value is a 64-but integer with 8 decimal places, so 1 coin is represented internally as 100000000. There are many details if the typical price becomes small. For example, if 0,0001 is worth 1 Euro, then maybe it will be easier to change where the decimal point will be displayed. So, if you have 1 Bitcoin now, it will be displayed as 1000, and 0.001 will be displayed as 1, "Satoshi noted.

[Sourovdeb890 416]

The reason for restricting the circulation of Bitcoin is to keep the price of Bitcoin under control because if Bitcoin circulation rises, the price of Bitcoin will decrease drastically so the circulation of Bitcoin is always controlled so that sales and demand are high.

[Chaichi 70]

The motive for restrict the circulation of Bitcoin is to stay the consequences of Bitcoin under be in charge of since if Bitcoin circulation rises, the worth of Bitcoin will diminish radically so the movement of Bitcoin is until the end of time proscribed so that sales and command are far above the ground. 

[BTC Future 3946]

On 2/22/2020 at 11:54 PM, hmind said:

For example, if 0,0001 is worth 1 Euro, then maybe it will be easier to change where the decimal point will be displayed. So, if you have 1 Bitcoin now, it will be displayed as 1000, and 0.001 will be displayed as 1, "Satoshi noted.

I don't remember reading this from Satoshi. He could have said that somewhere probably besides bitcointalk. I guess that I should start looking again. If these are his actual words then he predicted the 10k price. This is something impossible and even though I have to go to sleep soon I might start doing research on this. Absolutely fantastic. 

[babaji 1228]

Yes and that is what those who criticise btc for it low supply dont seem to understand. Each btc is 100 million satoshi, if and when each satoshi gets to a dollar, then you have enough bitcoin for the whole world. The use of 21 is also very interesting, since 21 if you ad 2+1-3,  and Tesla if you understand 3, 6, 9, you would have keys to the universe. 

[Shaza Ahmad 1682]

Frankly, I wonder why Satoshi chose exactly 21 million, why was it not 10 million or 100 million bitcoins? There must be a secret behind choosing this number.

[jamesvince 2389]

Limited supply means scarcity of bitcoin will lead to the high price of bitcoin as we know its price jumped to 20000$ in early 2018. Then its down trend stared but many investors thinks that it will goes more high. 

[Honny143 13612]

When bitcoin project launch satoshis nakamoto says bitcoin only produce 21 million bitcoin supply in crypto market, because he don't want bitcoin loss their popularity and loss bitcoin prices when it's circulates in crypto market, because when supply hige demand goes low so bitcoin supply limited 21 millions,and reduce bitcoin mining every four years its called bitcoin halving.

[Upright 2688]

One thing, just look at the other Crypto coins which are in the market, they basically are kind of having am unlimited supply in their network I'm which this supply will increase by a block like achievement

 That's why most of this coins values are kind of still lower than than of the bitcoins

[tienda 8776]

I think the restriction who make it more valuable, because if there is not the limited supply so will be like fiat money and will become useless, I think this is the difference between Bitcoin and Fiat money.

[jacker 1095]

Bitcoin's traffic control has a reason. This is a limitation indeed, because if the circulation of the value of bitcoin decreases, the control is to maintain the value and demand in the market for the coin.

[kadayakito 765]

Bitcoin is limited in volume so it creates the value of bitcoin, the value of bitcoin is promoted and everyone wants to own it. when it is free and unlimited its value is not pushed up.

[Yunusalemu 0]

On 2/26/2020 at 6:07 PM, Sourovdeb890 said:

The reason for restricting the circulation of Bitcoin is to keep the price of Bitcoin under control because if Bitcoin circulation rises, the price of Bitcoin will decrease drastically so the circulation of Bitcoin is always controlled so that sales and demand are high.

Yeah your statement goes well to the topic there is certainly no reasons for the very 21 blocks of bitcoin, and even if there is it totally won't be because of what he has mentioned and listed in the topic article. 

[Yunusalemu 0]

1 hour ago, Tomas2020 said:

Making the number of Bitcoin units limited is what increases its value. For example, there are some digital currencies whose number is limited to billions such as Ripple the number of which exceeds 38 billion units, in return for a very low value that does not exceed half a dollar.

i personally still dont think there is a limitation to the available number of bitcoin in total, but there posibly could be a limitation tovthe amount of bitcoin in cyculation, because i know that missing bitcoins are being replaced. So if it was limited no new ones will be added

[Nezar 7169]

The main reason for limiting the total amount of bitcoin currency is by controlling the currency, because when we amount to 21 million, the bonuses paid to the miners will stop and it is possible that the bitcoin currency will disappear if this happens.

[BrolySSJ 7899]

I think the main reason that the circulation of bitcoin is restricted is that it has a very volatile price and also because of the fact that it is not regulated and as a result there is no way in which you can trace a transaction. This makes it possible for many people to have illegal activities with these crypto and as a result it has not been adopted by many countries and it is often warned against.

[Birdal Yıldırım 8]

The main reason for the restriction of Bitcoin circulation is: It may be desirable to have a consistently high value commodity.

 

 

 

[Marginalist 420]

I think the reason why they want to restrict circulation of Bitcoin is try to control price. Bitcoin is very volatile, because it is not under anyone's authority

[Albany1209 210]

          By this time (October 2020) there is already more than 180,000,000 Bitcoin in circulation, therefore each day it becomes more expensive to mine, it requires a lot of resources to produce it and that is why Bitcoin takes more value every day. I think it is not restricted, but there are few.

[Raichu1987 115]

Saying that it is restricted, are strong words, the reason why it was done like this is to keep the price up, if all the bitcoin had been launched at the same time, it would most likely have no value today, everything was well calculated The day the last bitcoin is mined, it will be a world-class news and will undoubtedly have a very high value, and that is so so that mining continues to be productive..

[setifien 1016]

On 10/7/2020 at 6:40 PM, Marginalist said:

I think the reason why they want to restrict circulation of Bitcoin is try to control price. Bitcoin is very volatile, because it is not under anyone's authority

But if it's controlled, then it will lose the concept of cryptocurrency which are characterised by their high market value fluctuation

[sofiaqq 25]

because that are the cryptocurrency, they have a limit and in the first place we know what is the limit, and we buy and sell knowing that. 

[Billalkhan6712 82]

Bitcoin is the best currency in the crypto currency. There are many things Bitcoin can do that can be achieved with a small investment. Thank you for sharing

[prabesh2058 171]

That's intresting fact.

we all agree the fact that the main reason behind this huge price of bitcoin is that bitcoin has less supply (21M) than that of supply. 

Currently there are about 16 millions coin are only in circulation so that also keeps increasing the value of bitcoin.

This cryptocurrency is the first cryptocurrency and every other coins are made on the basis of bitcoin technology and they are all altcoin.So people trust bitcoin other than altcoin because it has originality .

Being orginal and limited supply bitcoin is the main reason behind bitcoin high price 

 

[Khan 1414]

On 2/28/2020 at 11:34 PM, Shaza Ahmad said:

Frankly, I wonder why Satoshi chose exactly 21 million, why was it not 10 million or 100 million bitcoins? There must be a secret behind choosing this number.

No one still knows the reality behind the crypto currency and the change in technology by using the crypto assets and deal using the crypto as the deep web are using the crypto for their own purpose.