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

Today's Dropped Question of the Day Code 23 December 2024

We have the answer to Dropee Question of the Day Code December 23, 2024 puzzle. This answer will help you finish the puzzle you’re working on.

Here is the today's dropee question of the day code Answers for 23 December.

QUESTION: What is the maximum supply of Bitcoin?

ANSWER: 21 million

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

The supply cap is enforced by Bitcoin's underlying code, which dictates how new coins are minted through mining. Approximately every four years, a process called "halving" reduces the reward miners receive for adding a new block to the blockchain, gradually slowing the rate of new Bitcoin creation.

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

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