Dropee question of the day code 23 December What is the maximum supply of Bitcoin?

Dropee Code of the Day December 23rd Question: Here’s the answer to Dropee’s Question of the Day for the day: What is the maximum supply of Bitcoin? and the answer is 21 million

Date code question dropped today December 23, 2024

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Here is today’s code Q&A for December 23.

QUESTION: What is the maximum supply of Bitcoin?

Answer: 21 million

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The maximum supply of Bitcoin is limited to 21 million coins, a fundamental aspect of its design and monetary policy. This limit was set by Bitcoin’s creator, Satoshi Nakamoto, to mimic the scarcity of precious resources like gold and to ensure that Bitcoin remained deflationary in nature.

The supply limit is enforced by Bitcoin’s underlying code, which dictates how new coins are created through mining. About every four years, a process called “halving” reduces the rewards miners receive for adding new blocks to the blockchain, gradually slowing the rate at which new Bitcoins are created.

This finite supply distinguishes Bitcoin from traditional currencies, which central banks can print in unlimited quantities, and contributes to its value as a store of wealth and hedge against inflation. broadcast. Once all 21 million coins have been mined—expected to happen around the year 2140—no new Bitcoins will be created, ensuring the supply remains fixed.

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