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Added explanation: There is also no direct way of calculating "circulating supply". Circulation is not something the protocol can identify. By circulating supply we simply mean TotalSupply - ((coins estimated to be lost) + (satoshi's coins)). Trying to enforce against circulating supply in the protocol will be unnecessarily heuristical and will provide no ...


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There is no point. It would just be slower and more complex for no gain. Despite what the name may imply, that test is not there to enforce the inflation schedule. It's there to prevent exploiting integer overflow (something which happened in Bitcoin's early history). The test could be replaced with > 1000000000000000000 instead and be equally effective....


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First of all, Script is a stacking programming language in which Bitcoin works. Script is pretty basic and limited for security reasons. For this same reason, Script is not Turing complete. Why does the bitcoin protocol opt for the use of this script-derivative in the transaction instead of just using the output address plainly? This is because locking ...


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Scripts can be used to do a lot more thing than just pubkeys and signatures. There is an entire Bitcoin script language that can be used to specify things like multisigs, hashlocks, timelocks, conditionals, etc. It's pretty extensive, just hard to grasp and reason about. Such scripts do not map to addresses (before P2SH) so without having scripts in outputs, ...


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