Quantity of virtual currency

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. That is, how many virtual currencies have been traded today, and how much is the total transaction amount

3. 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.

4. Bitcoin, the process of mining is to constantly seek the special solution of this equation system through a huge amount of calculation. This equation system is designed to have only 21 million special solutions, so the upper limit of bitcoin is 21 million.

5. There are too many digital currencies with a total of 30 million, including 28 million Swiss Thai coins and 21 million bitcoins
the development of this kind of digital currency depends on the quantity. There are more than 30 million digital currencies. Dogcoin is a typical example. Although dogcoin is the digital currency with the second largest number of users in the world after bitcoin, its recent development momentum is not optimistic. The total number of thousand gold cards is only 3 million, but the development momentum is good.

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

7. Dragon's virtual currency refers to dragon coin, which is not well-known in China. Only a few very small trading platforms have been launched. Moreover, those small platforms are suspected of cooperating with developers
it is recommended to play bitcoin, Ruitai coin, Laite coin and doggy coin, which are the mainstream digital cryptocurrencies.

8. The quantity of virtual currency can be changed, as long as a number is changed in this agreement, which is very simple. In fact, the quantity of virtual currency has no real value. There are only 21 million bitcoins, 28 million Ruitai coins, 84 million Wright coins and more dog coins, but their total market value is not a fraction of bitcoin.