3

What is the point of mining the Bitcoin and thus issuing new Bitcoins over the span of some time versus simply issuing all 21 million coins at once?

4
  • 2
    Ask yourself this .... if they were all issued at once, who would they be issued to?
    – Nick Moore
    Oct 17, 2017 at 9:57
  • Would be great if it was me.
    – nz_
    Oct 17, 2017 at 10:02
  • 1
    If they were all issued to you, they would be worthless. A currency's value comes from its being useful as a medium for multipe parties. Oct 17, 2017 at 14:45
  • 1
    That was a bad joke.
    – nz_
    Oct 17, 2017 at 14:49

1 Answer 1

2

In a way, all bitcoins were issued with the genesis block: The total number was fixed and the distribution schedule defined with the rules put in place then. However, distributing them over a longer period of time allows for the bitcoins to be spread out more, creates incentives for miners to contribute work to the Bitcoin network and probably also helped fewer of them getting lost during the emergence of Bitcoin when many people just tried it briefly and likely didn't properly store their coins.

1
  • Good points....
    – nz_
    Oct 17, 2017 at 9:10

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge you have read our privacy policy.

Not the answer you're looking for? Browse other questions tagged or ask your own question.