Bitcoin 21 million limit

A cryptocurrency is a digital currency that is created and managed through the use of advanced encryption techniques known as cryptography. Cryptocurrency made the leap from being an academic concept to (virtual) reality with the creation of Bitcoin in 2009. While Bitcoin attracted a growing following in subsequent years, it captured significant investor and media attention in April 2013 when it peaked at a record $266 per bitcoin after surging 10-fold in the preceding two months. Bitcoin sported a market value of over $2 billion at its peak, but a 50% plunge shortly thereafter sparked a raging debate about the future of cryptocurrencies in general and Bitcoin in particular. So, will these alternative currencies eventually supplant conventional currencies and become as ubiquitous as dollars and euros someday? Or are cryptocurrencies a passing fad that will flame out before long? The answer lies with Bitcoin.

Bitcoin – the Current Standard

Bitcoin is a decentralized currency that uses peer-to-peer technology, which enables all functions such as currency issuance, transaction processing and verification to be carried out collectively by the network. While this decentralization renders Bitcoin free from government manipulation or interference, the flipside is that there is no central authority to ensure that things run smoothly or to back the value of a Bitcoin. Bitcoins are created digitally through a “mining” process that requires powerful computers to solve complex algorithms and crunch numbers. They are currently created at the rate of 25 Bitcoins every 10 minutes and will be capped at 21 million, a level that is expected to be reached in 2140.

"Read my lips NO NEW TAXES, ER NO MORE BITCOINS

2013-05-05 00:11:24 by AFTER-WE-HIT-21-MILLION

All I can say is, I sure am glad there's an 'enforcer' who will enforce that 21 million upper limit on bitcoins. Wonder who that enforcer guy is who will arrest anyone who tries to modify the mining code to increase the upper limit of 'bitcoins in circulation.' What's his name again, 'Sammy Doozschbaugh' ?
You know how greed can take over when each bitcoin is worth $100 each, "hey ...let the world run out of Bitcoins, we can't stop at only 21 million bitcoins or they'll be too expensive to be a currency? LET'S INCREASE THE UPPER LIMIT TO 210 MILLION!"
I'm glad you have an original signature (not a photocopy) document from the coder who wrote the mining code about the upper Bitcoin limit the includes Sammy Doozschbaugh-the-21-million-enforcer's cell phone number

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