Can the total amount of bitcoin be modified
Publish: 2021-05-21 11:46:14
1.
The total number of bitcoins is 21 million
in 2009, when bitcoin was born, block reward was 50 bitcoins. Ten minutes after its birth, the first 50 bitcoins were generated, and the total amount of money at this time is 50. Then bitcoin grew at a rate of about 50 every 10 minutes. When the total amount reaches 10.5 million (50% of 21 million), the block reward will be halved to 25
when the total amount reaches 15.75 million (5.25 million new output, i.e. 50% of 1050), the block reward will be further halved to 12.5. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to about 21 million
extended data
monetary characteristics
1. Decentralization: bitcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of bitcoin's security and freedom
2. Global circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin
3. Exclusive ownership: private key is needed to control bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself
4. Low transaction cost: bitcoin can be remitted free of charge, but a transaction fee of about 1 bitfen will be charged for each transaction to ensure faster transaction execution
5, no hidden cost: as a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. If you know the other party's bitcoin address, you can pay
6. Cross platform mining: users can explore the computing power of different hardware on many platforms
2. 1. The number of bitcoin is limited, because the original intention of the design is to have a currency with a fixed circulation, so that the final number can not be increased or decreased, so as to eliminate the inflation and deflation risks caused by man-made money printing. The specific number is determined according to the block and block reward principle:
the assumption is that six data blocks can be generated every hour in the world, and 210000 data blocks can be generated every four years; Then it makes a decreasing payment for the return of data blocks, 50 bitcoin for each data block in the first four years, 25 bitcoin for each data block in the second four years, 12.5 bitcoin for each data block in the third four years, and so on... Finally, the total number of bitcoins is -
210000 x (50 + 25 + 12.5 + 6.25 + 3.125 +...) = 21 million
the cumulative sum in brackets is close to 100 and will never exceed 100, so the total number of bitcoins is 21 million
currently in the second four-year period, each calculated data block contains 25 bitcoins
2. There is no loss of wealth. Many people at home and abroad are digging for bitcoin, and they are also speculating in bitcoin. Computer and Internet speed can only determine the speed of bitcoin digging, but not the value of bitcoin. Even if you say that we dig abroad, we fry. Now we buy a bitcoin for $300, and there will be no bitcoin to dig in the future. Maybe a bitcoin will sell for $3000, and then we sell it again, won't we make a profit? Where is the loss of wealth? Of course, maybe a bitcoin will be worth $3 at that time. Who can say that it is not born by the central banks
3. In addition to bitcoin, there are several similar virtual currencies such as lightcoin. However, they all adopt similar design principles. Therefore, in the future, there will inevitably be a problem that the currency will eventually be widely recognized, and other currencies that are not recognized will be eliminated. Otherwise, a new virtual currency can pop up at any time. It's not the same as printing money, which completely goes against their original design intention.
the assumption is that six data blocks can be generated every hour in the world, and 210000 data blocks can be generated every four years; Then it makes a decreasing payment for the return of data blocks, 50 bitcoin for each data block in the first four years, 25 bitcoin for each data block in the second four years, 12.5 bitcoin for each data block in the third four years, and so on... Finally, the total number of bitcoins is -
210000 x (50 + 25 + 12.5 + 6.25 + 3.125 +...) = 21 million
the cumulative sum in brackets is close to 100 and will never exceed 100, so the total number of bitcoins is 21 million
currently in the second four-year period, each calculated data block contains 25 bitcoins
2. There is no loss of wealth. Many people at home and abroad are digging for bitcoin, and they are also speculating in bitcoin. Computer and Internet speed can only determine the speed of bitcoin digging, but not the value of bitcoin. Even if you say that we dig abroad, we fry. Now we buy a bitcoin for $300, and there will be no bitcoin to dig in the future. Maybe a bitcoin will sell for $3000, and then we sell it again, won't we make a profit? Where is the loss of wealth? Of course, maybe a bitcoin will be worth $3 at that time. Who can say that it is not born by the central banks
3. In addition to bitcoin, there are several similar virtual currencies such as lightcoin. However, they all adopt similar design principles. Therefore, in the future, there will inevitably be a problem that the currency will eventually be widely recognized, and other currencies that are not recognized will be eliminated. Otherwise, a new virtual currency can pop up at any time. It's not the same as printing money, which completely goes against their original design intention.
3. It is recommended not to participate in investment,
this kind of virtual currency is not a digital currency recognized by the central bank,
it is not protected by law,
the corresponding platform may collapse or run away at any time.
this kind of virtual currency is not a digital currency recognized by the central bank,
it is not protected by law,
the corresponding platform may collapse or run away at any time.
4. The total amount is 21 million, about one block is proced every 10 minutes, and the number of bitcoins in each block is 12.5 after being halved twice, that is to say, 12.5 bitcoins are proced every 10 minutes
5. One of the controversial attributes of bitcoin is its fixed supply. At present, 25 new bitcoins are proced every 10 minutes, and the number is halved every four years. Overall, there won't be more than 21 million bitcoins & gt;. On the other hand, each bitcoin can be divided into 100 million shares (each is called 1 "cong"), if one cent is enough to buy a car, it will be troublesome to trade in US dollars, but even if bitcoin rises to the level of US dollars assumed above & gt; We will not encounter such problems. Therefore, in short, the total number of monetary units that will always exist is 2100 billion, that is 2100 trillion, or 250.899. In the square of choosing this value & gt; In fact, Nakamoto is much luckier or smarter than most people realize. First of all, this number is far less than 264-1, which is the largest integer that can be stored in the form of standard integer in a computer. If it exceeds that value, & gt; The value will return to zero like a odometer
secondly, however, there is a smaller threshold for the total number of "smart": the largest possible integer that can be represented in floating-point format. Integers are not the only numbers that computers can store; To deal with decimals, computers & gt; Use a format for floating point representation. Floating point notation is essentially a binary version of scientific notation. For example, here is a value you will encounter when you study physics:
mass of the earth: 5.972 1024 kg
mass of the sun: 1.989 1030 kg
speed of light: 2.998 108 M / s
light year: 9.460 1015 m
mass of proton: 1.672 10-27 kg
Planck length: 1.616 10-35 m
we can notice that, How does scientific notation allow you to represent all of these values with reasonable accuracy, even though they vary greatly in size. Floating point notation is essentially a binary scientific notation; When you store numbers & gt; When the word is 9.625, what your computer stores is "1.001101
* 1011" (in other words, it stores 0100000000100011
& gt; This is the same thing with high-precision sequence form). In this high-precision form, the coefficient (that is, the part that is not the exponent) has 52 bits. This means high precision (more refined & gt; Double precision floating point number is enough to store up to 253 numbers, but it can't be any higher. If it exceeds 253, you have to start cutting off the numbers at the end. Bitcoin's 250.9, the total number of "smart" in the form of index, is just & gt; OK, below this maximum
if we have integers, why should we care about floating-point values? Because more high-level programming languages (such as JavaScript) do not open low-level "floating point" and "integer representation", but only provide "number" representation for programmers; Concepts
– of course, in floating-point form. If Nakamoto chose 210 million instead of 21 million at that time, bitcoin programming in many languages would be much more troublesome than it is now
note that Stefan Thomas unfortunately didn't notice this in time when he wrote bitcoinjs, so that the library used a special "big number big
number" object instead of an ordinary number to store the tutorial output value; My own bifurcated bitcoin JS (along with other improvements) uses ordinary numbers.
secondly, however, there is a smaller threshold for the total number of "smart": the largest possible integer that can be represented in floating-point format. Integers are not the only numbers that computers can store; To deal with decimals, computers & gt; Use a format for floating point representation. Floating point notation is essentially a binary version of scientific notation. For example, here is a value you will encounter when you study physics:
mass of the earth: 5.972 1024 kg
mass of the sun: 1.989 1030 kg
speed of light: 2.998 108 M / s
light year: 9.460 1015 m
mass of proton: 1.672 10-27 kg
Planck length: 1.616 10-35 m
we can notice that, How does scientific notation allow you to represent all of these values with reasonable accuracy, even though they vary greatly in size. Floating point notation is essentially a binary scientific notation; When you store numbers & gt; When the word is 9.625, what your computer stores is "1.001101
* 1011" (in other words, it stores 0100000000100011
& gt; This is the same thing with high-precision sequence form). In this high-precision form, the coefficient (that is, the part that is not the exponent) has 52 bits. This means high precision (more refined & gt; Double precision floating point number is enough to store up to 253 numbers, but it can't be any higher. If it exceeds 253, you have to start cutting off the numbers at the end. Bitcoin's 250.9, the total number of "smart" in the form of index, is just & gt; OK, below this maximum
if we have integers, why should we care about floating-point values? Because more high-level programming languages (such as JavaScript) do not open low-level "floating point" and "integer representation", but only provide "number" representation for programmers; Concepts
– of course, in floating-point form. If Nakamoto chose 210 million instead of 21 million at that time, bitcoin programming in many languages would be much more troublesome than it is now
note that Stefan Thomas unfortunately didn't notice this in time when he wrote bitcoinjs, so that the library used a special "big number big
number" object instead of an ordinary number to store the tutorial output value; My own bifurcated bitcoin JS (along with other improvements) uses ordinary numbers.
6. The upper limit of bitcoin is not the exact figure of 21 million. 21 million is calculated according to the mining rules
in the first four years, 50 pieces were g out every ten minutes: 50 * 6 * 24 * (365 * 4 + 1) = 10519200 pieces
in the second four years, 25 pieces were g out every ten minutes: 25 * 6 * 24 * (365 * 4 + 1) = 5259600 pieces
according to the sum formula of infinite equal ratio sequence, the final total amount is infinitely close to 21038400 pieces (10519200 * 2)
as long as the mining rules are not changed, the number of bitcoins will never exceed 21038400
in the first four years, 50 pieces were g out every ten minutes: 50 * 6 * 24 * (365 * 4 + 1) = 10519200 pieces
in the second four years, 25 pieces were g out every ten minutes: 25 * 6 * 24 * (365 * 4 + 1) = 5259600 pieces
according to the sum formula of infinite equal ratio sequence, the final total amount is infinitely close to 21038400 pieces (10519200 * 2)
as long as the mining rules are not changed, the number of bitcoins will never exceed 21038400
7. No, these bitcoins are just out of circulation. The total amount remains unchanged
8. There is an upper limit to the total amount of bitcoin. The inventor of bitcoin has explained that.
9. The total number of bitcoins is 21 million, which I believe everyone already knows
now, for example, the total assets of the society are 200 yuan, the total number of bitcoins is 100, and there are 100 people who own bitcoins. Everyone buys a bitcoin for 1 yuan
another 100 people own 1 yuan. When they decided to use bitcoin, they bought 0.5 bitcoin for 1 yuan. At this time, each person owns 0.5 bitcoin, and the total social capital is 200 yuan. The value of each bitcoin is already 2 yuan.
now, for example, the total assets of the society are 200 yuan, the total number of bitcoins is 100, and there are 100 people who own bitcoins. Everyone buys a bitcoin for 1 yuan
another 100 people own 1 yuan. When they decided to use bitcoin, they bought 0.5 bitcoin for 1 yuan. At this time, each person owns 0.5 bitcoin, and the total social capital is 200 yuan. The value of each bitcoin is already 2 yuan.
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