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Re: Why was 21 million coins chose as the total number of bitcoins?
21 million was not chosen, 21 million is the result of multiple other choices.
Initial block reward was 50BTC
1 block is made every 10 minutes
Block reward halves every 4 years
Those three choices lead to 21 million coins, after so many halvings the block reward eventually hits 0 and at that time the number of coins generated happens to be just under 21 million.
Initial block reward was 50BTC
1 block is made every 10 minutes
Block reward halves every 4 years
Those three choices lead to 21 million coins, after so many halvings the block reward eventually hits 0 and at that time the number of coins generated happens to be just under 21 million.
Nice answer, thanks for spelling it out like that.
I have been using gold silver bitcoin for over a year and was poking around the forum here and thought I'd look for a thread like this one. I want to say I have been quite happy with the 10 orders or so I've put in with gold silver bitcoin. I talk with the person there each time and he is nice, answers emails quickly. It is obvious it is a smaller outfit but they are competitive on prices and ship quick. I notice though that if the order is like more than an ounce of gold it ships quicker, but never longer than 5 days if i recall. I am thinking about putting in another order but I am not so sure about the precious metals prices plus bitcoin prices are kinda soft. I will one day soon when I think things have shaken out if that day ever comes but until then I thought I'd review my experience.
I love the Jefferson Project found at projectjefferson.com. I have gotten a cool map of San Francisco and I am pretty stoked. They are very artsy maps and I love them.
These designs are a major change from the boring maps of the past and are really decorative. With google maps, there is no use for maps more and more each day.
When I first bought my map there weren't too many options but today there are like 4,300 cities in 10 styles each.
The maps are beautiful. I recommend checking them out.
These designs are a major change from the boring maps of the past and are really decorative. With google maps, there is no use for maps more and more each day.
When I first bought my map there weren't too many options but today there are like 4,300 cities in 10 styles each.
The maps are beautiful. I recommend checking them out.
Hmm...I think independent actors are making investments and trading day-to-day. There is really not much reason for the US gov to actively manipulate Bitcoin at this point unless they are trying to make a little extra cash.
My condolences for your losses. I want to let you know that you will get through this and in the big scheme of things you have learned an invaluable lesson. Unfortunately I feel this is the best way to look at a situation such as this. Money is not everything. You have your life still and that is something so very precious. I hope this does not sour you on Bitcoin as it is really the human condition which leads some of us to pyscho tendencies like scamming others out of money, lying, cheating, killing and so on. I wish you the very best of luck in your future Bitcoin endeavors.
I do not think this logic works out. Tax collectors would just ultimately have a lot of bitcoin. That is the reality of the society we live. Resources move towards the center, or towards the so-called commanding heights.
I think it is sensible action to keep our nation's consumers safe from Bitcoiners who are scammers. The regulation does nothing more than ensure that parties conducting transactions are identifiable and tied to the transactions.
A number of people in this forum could do themselves some good by reading through that reddit thread. This isn't to say that Bitcoin can't turn out to be a worthwhile investment in the long run, but simply that some people don't *truly* understand for themselves what it means to not buy in more than they can afford to lose, especially on something so volatile.
People are quite inexperienced it seems in this space. I have sort of watched finance, and I have seen some people (mostly friends who were gambling in the markets) lose EVERYTHING! Oh man. It was not pretty, especially when they were married.
Let this be a lesson to the younger ones. Be conservative financially. Save like it were the Depression. and work hard. Bitcoin is something that should be supplemental. No more also than 10% of savings. NO MORE than that. Unless you are risky or fine cashwise.