16 votes

Why is Bitcoin defined as having 8 decimal places?

When developing Bitcoin, Satoshi had already come with the idea that no more than 21 million of them will ever be made. However, there was an unsolved issue: how to accomodate all bitcoins in case it ...
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14 votes

How many bitcoins are there currently in circulation?

If you are running Bitcoin Core, you can see the total amount in circulation using the RPC call gettxoutsetinfo (in the Bitcoin-Qt debug console, or using bitcoin-cli if you run bitcoind). At the ...
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10 votes

Who issues bitcoins and how?

the protocol allows a miner when he creates a block to send himself 25 BTC which do not have a proper source (input). that's how those 25 BTC are created, they're bitcoins that come from nowhere.
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8 votes

Who added the 21 million limit to Bitcoin?

This is the announcement of Bitcoin: http://www.metzdowd.com/pipermail/cryptography/2009-January/014994.html Total circulation will be 21,000,000 coins. It'll be distributed to network nodes ...
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  • 28.6k
8 votes
Accepted

Why bitcoin cash supply is currently 100k more than bitcoin on coinmarketcap (as of Oct 17)

EDA (Emergency Difficulty Adjustment): Median Time Past of the current block and the Median Time Past of 6 blocks before has to be greater than 12 hours. If so, it gets 20% easier to create proof ...
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  • 9,769
6 votes
Accepted

Can Bitcoin nodes vote to increase the money supply beyond 21 million?

The reward schedule is a consensus rule in the Bitcoin network. Consensus rules are enforced by each full node independently. Node operators choose which consensus rules they enforce per the Bitcoin ...
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  • 62.3k
5 votes
Accepted

What percentage of newly created bitcoins have never been moved?

As of block 445550 (december 28, 2016, 19:14 UTC), there are 55450 blocks with unspent coinbase outputs, with a combined value of 1854952.32263065 BTC.
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5 votes

Who issues bitcoins and how?

No one entity overseas the issuance of block rewards. This is one of several revolutionary concepts behind Bitcoin. (There is absolutely no Federal Reserve.) The Bitcoin Protocol and its distributed ...
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  • 2,917
5 votes
Accepted

How to calculate coin supply at each block height from all transactions?

The first transaction in every block is called the coinbase transaction, it is a special transaction that pays the miner their reward. This transaction adheres to different rules than the rest: it has ...
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  • 17.2k
5 votes

How to calculate coin supply at each block height from all transactions?

If you want the total amount of BTC created, you simply need to iterate through the coinbase transactions (first tx in every block) and add up the output. You will then need to subtract the ...
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  • 16.4k
5 votes
Accepted

Does Bitcoin mining reward halving have documentation? Or is it just in the code?

This is not addressed in Bitcoin's Whitepaper, although Satoshi Nakamoto briefly mentions the decrease of the reward, but never explicitly talks about the amount of the reward. Satoshi speak about ...
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4 votes

Is it possible for more than 21 million bitcoins to exist if 51% agree?

Maybe. It would require a split in bitcoin users. Those who wanted the change could switch to a new version of the bitcoin software with the code changed to allow it. The problem comes from the fact ...
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  • 591
4 votes
Accepted

How much will one bitcoin cost when the 21 millionth bitcoin (the last one) is mined?

Nobody knows. It depends on what the demand is for Bitcoins by that time. If everything goes as planned, the last bitcoin will be mined about 125 years from now, and I don't think anyone has a good ...
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4 votes
Accepted

What prevents miners from mining more bitcoin after 21million btc?

The Bitcoin protocol allows block authors to create a limited amount of new bitcoins in the outputs of the coinbase-transaction (which also collects the transactions fees) in each block. The amount of ...
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  • 62.3k
4 votes

How can I verify the BTC supply with my own node?

To verify the supply, you have to compute the theoretical maximum issuance based on the block subsidy schedule. Then you can use the gettxoutsetinfo RPC which will output the total amount of Bitcoin ...
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  • 60.4k
3 votes
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How can a X-coin market cap go down while its value goes up?

As Nate Eldredge pointed out, the chart you're looking at is denominated in BTC, while the market cap is denominated in USD. If you look at the chart below, you'll see that the price in USD (green) ...
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  • 62.3k
3 votes

Why the total number of bitcoin is limited?

The limitation in the number of bitcoins is by design and determined in the protocol code. It is a desirable feature because it makes the money supply predictable and independent of human decisions ...
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3 votes

Can wider acceptance cause the value to fall?

The point you bring up is fundamental to understanding how the bitcoin market operates. The majority of companies that have grown quickly in the space help merchants accept bitcoin. As you mentioned, ...
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3 votes

Supply Restriction on Bitcoin & Bitcoin Cash?

Bitcoin Cash is a seperate fork, a seperate entity. There will be (a bit less than) 21 million BTC, and (a bit less than) 21 million BCH. Price differentiation is because of supply / demand for ...
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3 votes
Accepted

Number of bitcoins mined algorithm

There is a fixed rate for how many bitcoins are mined each block. The block reward halves every 210,000 blocks, see Controlled Supply. Here is a short term bitcoin distribution projection from the ...
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  • 7,030
3 votes
Accepted

Digital hard cap boundaries

There is absolutely no ability in Bitcoin for higher resolution than 1 Satoshi, as all values are internally represented in this unit. You can do this on second layer systems like Lightning which can ...
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  • 15k
2 votes

Why is Bitcoin defined as having 8 decimal places?

The world GDP is $74 trillion footnote: a according to the World Bank in 2017. The max supply of Bitcoin with 108 base units is 2,100 trillion Satoshis. If Bitcoin is to back the world's money, ...
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2 votes
Accepted

Where can I find a chart of the daily supply?

Such a chart is trivial to create yourself by scraping blockchain.info. The following bash script will do just that: #!/bin/bash END=$(date -d 'today 00:00:00' +%s) # Today 00:00:00 START=1354147200 #...
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  • 8,694
2 votes

Who issues bitcoins and how?

I'll try to give a different answer than the ones already given. You are responsible for issuing them. You, together with all other users. Bitcoins are not issued, as they are not tokens that are ...
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2 votes
Accepted

Does the Bitcoin Core API support high-precision balance display?

As Gracchus said, Bitcoin internally uses 64bit integers. Bitcoin's JSON interface on the other hand uses doubles, which give only 52 bit precision. Both types are big enough for bitcoin (double only ...
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2 votes

How many bitcoins are there currently in circulation?

The number of bitcoins currently in circulation can be found at BlockChain.info or BitcoinCharts.com Background The rate at which new bitcoins are mined follows a predefined schedule, with a new block ...
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2 votes

Dash Supply Cap?

Might want to examine Section 5.2 of a Dash White Paper. Here is the relevant code concerning Dash's monetary policy. It is difficult to project the exact amount of Dash currency that will come ...
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  • 2,917
2 votes

What is MaxBTC and what it represents?

"We can represent any bitcoin account with MaxBTC 251." It appears that MaxBTC is used here as a strict upper bound to refer to maximum number of bitcoins that will ever exist. There will always be ...
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  • 62.3k
2 votes
Accepted

See How Many Bitcoins Existed

Yes. This chart from blockchain.info is one. There are probably many more.
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  • 7,619

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