Is the total amount of bitcoin 2 1 million? Why?

The total amount of bitcoin is limited, 2 1 10,000 pieces, but clever humans have invented a method to divide one piece into small pieces. As we know, one yuan RMB is composed of ten cents, one hundred cents and one thousand cents ... and any one of them, whether it's a dime, a dime or a circle, can be divided indefinitely again, and a limited amount of bitcoin can be divided indefinitely, endlessly, just like cutting sausages with a kitchen knife until the day you die, without cutting to the smallest unit. Therefore, a limited number of bitcoins is actually an endless huge black hole that can accommodate the whole universe. So my point is that bitcoin equals a black hole.

Vernacular, fishing for dry goods!

Bitcoin is a genius idea, a distributed accounting system.

Solve math problems, keep accounts, sum geometric series.

The source, security, knowledge, assets and technology of bitcoin value.

Keywords: bookkeeping, equation, convergence, * * * knowledge, technology

First, the bitcoin white paper, the idea of genius.

1 1 years ago, a person with a pseudonym of Satoshi Nakamoto published a paper called "White Paper on Bitcoin", which introduced a genius's idea in detail. I always say that it is people's thoughts that lead the world.

What people used to think was illusory, what they used to think was nonsense, and it was often proved to be far-sighted later. Bitcoin is like this.

In the past, our bookkeeping was often centralized, and there was always one person responsible for you. The company has a finance department and an accountant. Every account you transfer must be recorded by an accountant.

There is always a bookkeeping center and a system in the bank. How many accounts are transferred every day? Finally, we must do something about a pair of accounts.

Let me give you an example. The earliest trusts were born during the Crusades. At that time, many people went out to fight and went out with their lives. I don't know whether they will come back, so they left their property to a group of people to take care of. These people manage your property for you, and when they make a profit, they take a little from it.

This is like saying that you have 100 sheep at home, you have to leave, your son is still here, and you can't let go of the sheep, so you can give these sheep to some professional shepherds, and they can also share a piece of the lamb.

But there is one problem. Who will supervise this matter? How do you know he is comfortable herding sheep for you? Or what would you do if he gave you your sheep?

This requires a set of accounting rules, that is, our entire audit system now has a set of loans. Double-entry bookkeeping to ensure that he is not too obsessed with mini fans. Of course, finance can also be faked, which is equivalent to 100 sheep. If he can shrink it a little, he can shrink it by five, and you can't shrink it by 95, then it's meaningless.

But there is always a problem with this centralized bookkeeping. He knows you don't. Information asymmetry. Some people have all the information, but not everyone has it, which is very troublesome.

Satoshi Nakamoto conceived distributed bookkeeping. Everyone can keep accounts. Everyone keeps accounts in a network and uses modern information technology to keep accounts. It solves this problem well.

Write it down once, and I will post it to the whole network. Everyone knows that everyone has confirmed my information, so there will be a new person to keep accounts, and then this account will be published to the full text. A string of chains comes down, which is the so-called blockchain.

This idea solves the problem that someone lost your sheep, because everyone knows it. And prevent someone from cheating. Once you cheat, the next bookkeeper can't compare with this. Moreover, this matter of yours is in broad daylight, and everyone thinks that you are wrong, or you deliberately cheat, and you have broken your promise, so you will be disqualified from bookkeeping next time. That's probably the idea.

Of course, there are cryptography, * * * cognitive mechanism, Poisson distribution and so on. Many people criticize what the value of Bitcoin comes from. Bitcoin has no government endorsement. I still say that you believe in advanced mathematics, Newton and Einstein, not because they have government endorsement. But because of their superb technology. The real value source of Bitcoin is actually technology.

Second, what is Bitcoin? Just keep an account and do a math problem. Sum of geometric series

So what exactly is Bitcoin? Why can its total number be framed as 2 1 10,000? Can it be calculated?

Let me briefly introduce that Bitcoin is a reward mechanism. In other words, when you are qualified for bookkeeping, you can write down the accounts, package them after writing them down, and get a reward if you remember them correctly.

The rule of bitcoin is this. When everyone has the right to record all the transactions that happened in these ten minutes, for example, Zhang San gave Li 40 bitcoins and Li Zi gave Wang 50 bitcoins, then you should record them all. Then put it in a bag. You can get bitcoin rewards, such as 40 or 20.

Then who is qualified to record? This requires a way of screening, that is, computing power. What do you mean? To qualify for bookkeeping, we must first calculate a mathematical equation and solve a mathematical problem. This equation is called hash equation. Simply understand, this equation can be calculated forward, not backward. You know that X can calculate Y, but you know that Y can't calculate X. ..

What should I do? Then you have to try one by one, and if you try it right, it will be solved. The way to do this is to repeat the operation, just like digging with a shovel. This is the meaning of excavation. It's a metaphor, which means that you try one by one, instead of actually digging there.

At the same time, the rules of Bitcoin stipulate that the bitcoin reward for everyone's bookkeeping will be halved every four years. That is to say, you can get ten for the first time, five after four years, and 2.5 after four years.

In the long run, if you calculate this total, the total number of bitcoins will become the convergent sum of a geometric series. In other words, you can calculate its total through a mathematical formula. According to the established rules, the total is 2 1 10,000 pieces. Of course, it can be further subdivided into decimal points, which seems to be eight digits. This limits his total number.

Third, the source of value of Bitcoin.

Finally, talk about the source of value of Bitcoin. As I said before, the real value of Bitcoin comes from technology, from mathematics, from cryptography, from the idea of genius, and from its security.

Let's start with safety. I have introduced the operation mechanism of Bitcoin before. You should announce it to the whole network when you keep an account. Then once everyone on the whole network receives your message, it is equivalent to you streaking under everyone's eyes. Everyone can see clearly what you have, and it is almost impossible for you to do bad things.

At the same time, Bitcoin has been attacked many times, but it has not been defeated. It is still very safe and its data cannot be tampered with. If he is proved to be safe again and again, he will become more and more credible.

Then why is Bitcoin getting more and more valuable? It was worthless before. Its price can go up by1000000 times, 2000000 times? The reason is that more and more people believe him, more and more people value him, and more and more people recognize him. If everyone recognizes Bitcoin, everyone thinks that Bitcoin is important, Bitcoin is reasonable and Bitcoin is safe, then this knowledge will become a belief. When a thing becomes a belief, its value is self-evident.

Finally, bitcoin has the characteristics of assets, and strictly speaking, it should be counted as an intangible asset. The characteristic of this intangible asset is that it will hardly depreciate. Think about it. He is an imaginary thing, a virtual thing. Just like ten years, it only exists in people's minds.

I have introduced the characteristics of assets many times before. Assets can be preserved for a long time. It is a durable product, so people actually buy it to get higher income. Buying tomorrow is more expensive than today, and buying the day after tomorrow is more expensive and higher. The assets are like this. The more expensive it is, the more they want to buy it. As long as it continues to rise, people will form the same expectation, which is valuable.

Conclusion. From the white paper on Bitcoin, a person with a pseudonym of Satoshi Nakamoto had a genius idea to change centralized bookkeeping to distributed bookkeeping. This bookkeeping method is not easy to be tampered with and tampered with. This is a genius idea.

The rules of Bitcoin stipulate that everyone can reach a * * * understanding, calculate a hash equation within a period of time, and get the right to package and keep accounts. At the same time, the accounts within ten minutes will be announced to the whole network. Over time, the return on bitcoin will be halved. The total number of bitcoins becomes the sum of geometric series, and the total number is certain and keeps converging.

The value source of bitcoin is actually technology, but it is actually security. In fact, it is a * * * knowledge mechanism, which is actually a feature of assets. Many valuable things in history are actually illusory, and what really affects human progress is actually human thought.

The total number of bitcoins is 2 1 million. Yes, it was defined at the beginning of writing the source code. You can refer to the Bitcoin White Paper, which clearly states that this 1 bitcoin is obtained through mining, but emphasizes that the total number of bitcoins is 2 1 10,000, but this 1 bitcoin can be subdivided.

That is, 1 bitcoin can be subdivided into very small ones. How small is it?

At present, the smallest unit of bitcoin is 1 cluster, and 1 bitcoin is equal to 1 cluster.

As for how this clump came from? It is named after Satoshi Nakamoto, the inventor of Bitcoin.

Therefore, if calculated by quantity, the number of bitcoins that can be obtained by mining is 2 1 10,000. That's right!

But if you get bitcoin through trading, you can subdivide it. . . That can be subdivided into 1 bitcoin and 1 100 million clusters! !

The whole operating mechanism of Bitcoin is to imitate physical gold, which is why many people call Bitcoin digital gold. We know that gold, as one of the elements on the earth, is scarce in itself, which also leads to the precious metals headed by gold naturally playing the role of money like gold and silver in the long history of mankind. Therefore, the original number of bitcoins is also limited, with a total of 2 1 10,000.

On June 365438+1October 3 1 day, 2008, a man named Satoshi Nakamoto put forward a nine-page idea of decentralized peer-to-peer trading on the Internet, which was later called the Bitcoin White Paper. It is clearly stipulated in the white paper of Bitcoin that the upper limit of Bitcoin is limited to 2 1 10,000 pieces and can never be tampered with, which is a cornerstone supporting the current price of Bitcoin.

So we can see that the number of bitcoins is not unlimited. The total number of bitcoins has a constant of 2 1 million. At present, the number of bitcoin in circulation has exceeded 1 18 million, but the last bitcoin will appear after 2 1 1000 years, which is also determined by its algorithm mechanism. The number of bitcoins you understand is infinite, which should be its minimum, but the total number of bitcoins in circulation at present is18 million, including nearly 4 million lost bitcoins that have been silent in the long history.

Therefore, if you have time, please read the white paper published by Satoshi Nakamoto from June 5th to 10, 2008. This nine-page paper not only brought us bitcoin, but also brought us the ultimate blockchain technology. This is a great gift that Bitcoin brings to the world.

First of all, the total amount of bitcoin is 2 1 10,000, which is determined by the generation mechanism of bitcoin. If the total amount was not limited, Bitcoin would have died long ago.

Some comrades always talk about things with the theory that "Bitcoin can be split infinitely", which is typical of not knowing Bitcoin.

Just like a bottle of mineral water is marked with 600ml, you can drink a drop at 0.000 1ml, drink it a thousand times, or drink it all at once.

Can this bottle of water change the fact that it is 600ml just because you drink it tens of thousands of times? Don't you understand such a simple truth?

As for the total amount of bitcoin, in fact, to be precise, the total amount of bitcoin is 209,999,769,000, slightly lower than 2 1 10,000.

Bitcoin generation plan:

Calculation method of bitcoin mining

Bitcoin generates a block in 10 minute, and multiplies it by 24 hours (every day), 365 days (one year) and the last 4 years (one cycle) at the rate of 6 blocks per hour. As a result, a total of 2 10000 blocks are generated in one cycle. The rewards for all blocks are gradually reduced from 50 to 25, and then to 12.5, so there are 50+25+12.5+6.25+3.125. . . = 100 reward, and two numbers can be multiplied to get 2 1 10,000 bitcoins.

In other words, by 2 140, bitcoin will be completely excavated.

Why is the total amount of Bitcoin only 2 1 10,000? Can't you eat more?

Let's talk about why the total amount of bitcoin is 2 1 10,000. First of all, the total amount of bitcoin is designed. So far, he hasn't explained the reason clearly. So there is a lot of speculation outside. Now I'll give you the following eight guesses.

one

Guess 1: Because 2 1 is half of the final answer 42.

Explanation: The answer is a joke. This clue comes from the final answer in the movie Guide to the Galaxy: the final answer of the universe is 42.

two

Conjecture 2: Because we live in 2 1 century.

Commentary: This is a bit far-fetched.

three

Conjecture 3: The principle set in this book is to generate one piece every 10 minute, reward 50 coins, and halve it in 4 years. The result is natural.

Note: There is no human intervention, but the natural result is acceptable.

four

Guess 4: All the gold in the world is melted together, and it is a cube with a side length of about 2 1 meter.

Note: The Chinese version uses this concept to describe Bitcoin as a kind of virtual gold.

Why is the total amount of Bitcoin only 2 1 10,000? Can't you eat more?

five

Guess 5: outsiders think they like to play 2 1 minute.

Explanation: I didn't explain this answer.

six

Conjecture 6: There are 32-bit integers that can store 2 3 1- 1, that is, 2 147483647. If you take the top 8, it is 2 144836.47 bitcoin. That is 2 1 10,000.

Note: I guess Ben Cong used an integer with 32-bit precision when he first developed it. Later, he found a global currency with insufficient precision, so he expanded the two decimal places to 8 digits and changed the 32-bit storage to 64-bit storage.

seven

Guess 7: Bitcoin is used to compare the global economic aggregate. According to the current global economic level, the global economic aggregate is estimated to be 2 1 100 million.

Explanation: I think this guess is more scientific.

eight

Conjecture 8: According to the analysis of Vitalik Butrin, the founder of Ethereum, this value may be related to the integer data range supported by computer programming language, which is more convenient for subsequent developers to maintain compared with special currency.

Note: Bitcoin uses the C++ programming language.

Summary and analysis

The above eight answers are all outside guesses. Because Ben didn't explain it, we don't have a clear answer. Personally agree with V God. So what's the answer in your mind?

The total amount is about 21000000, which will be halved every four years, and all excavation will be completed in 2 140 years. After that, BTC will no longer be produced by mining, and the income source of miners is transfer fee.

This logic is written in the code.

That's a good question This question is actually about the origin of digital currency.

Sovereign governments have the right to issue money, and central banks will continue to issue money, for example, China issues RMB and the United States issues US dollars. Because there are no restrictions on the issuance of money by sovereign governments, massive money has caused inflation and the currency in the hands of residents has been depreciating.

For example, when I was a child, I had four steamed buns for one yuan. Now I have one for one yuan, and some places have one in 2 yuan. There are countless examples of rising prices.

In this case, the wealth that residents have worked so hard to save is always shrinking, and people are always busy. If you accumulate wealth at the age of 30, you can lie down for the rest of your life. However, if you can't keep increasing your wealth, you will find that there is almost no surplus grain at the age of 60, and the same amount of money can't buy anything.

To counter this devaluation, clever creators created a limited number of digital currency. Bitcoin is a pioneer, with only 2 1 10,000 pieces, without any government management.

That's why digital currency came into being. As for how to ensure that the total number of bitcoins is only 2 1 10,000, this is another question that can be discussed if you are interested.

The development of digital currency is in the ascendant, which shows that residents cherish their hard-won wealth very much. The sovereign government can "plunder" wealth invisibly, which promotes the development of digital currency, a new thing.

People who can talk about bitcoin indefinitely don't understand bitcoin at all. I don't recommend you to buy bitcoin, but this truth must be made clear. "Infinitely divisible" and "infinitely total" are two different things.

Let's talk about the total amount first, and then why infinite divisibility is not equal to infinite total amount. The total amount of bitcoin is indeed 2 1 10,000. You can understand the number of bitcoins as the solution of a super-difficult equation, which has 2 1 million. This is a provable mathematical theorem, so the total amount is certain. You have a bitcoin, which means you have a solution. And bitcoin can't be issued more.

Then many people say that there are no 2 1 10,000 bitcoins, because bitcoin is infinitely divisible. You can have 0. 1 bitcoin, 0.0 1 bitcoin, and 0.00 1 bitcoin, so bitcoin is infinite.

It is right to say that Bitcoin is infinitely divisible, but it is nonsense to say that the sum of Bitcoin is infinite.

In a certain amount, no matter how you continue to divide it, you still have as much as before. You originally had 10 bitcoins, so no matter how you divide the remaining 20 million, you will always be 10/2 100000 bitcoins, and no one will divide their 1 bitcoins into 65433000. Similarly, just because you continue to divide 10 bitcoins into 1000 points, you have more 10/2 100000 bitcoins.

But traditional currencies are different. Suppose the total amount of money circulating in the market is100000, and you have100000, then you have1100.

Suppose you don't move this 65438+ million, and then the country sends 10 million, then the amount of money you have becomes 1/200.

Then when you do nothing, your currency will depreciate.

One of the reasons why Bitcoin is touted is that there is no such central bank that can issue money at will, which leads to the devaluation of the currency in its hands.

Of course, the country does not send it casually, but the central bank is too flexible in this respect compared with the constant number of bitcoins.

In addition, infinite divisibility is a mathematical game at best. Theoretically, any currency is infinitely divisible. As long as the country is willing to issue, 0.00 1 yuan, 0.00010.00000001yuan ..., then any currency is infinitely divisible, but bitcoin is realized through program code, which is more practical.

Do you know anything about scams? Just like when the US dollar was also called the US dollar, when the value came up, we could cut all the leeks in the world, or our country became strong. Btc China trading has been banned from the beginning.