The main story of crypto currency is: "We have found a new way to print money and keep some of it". I wonder how much of the economy is like this.
The basic principle of money is that people are not able to simply make more. Crypto currencies circumvent that by obfuscating counterfeiting with computationally expensive mathematics.
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No one can counterfeit more bitcoin into existence. The supply is capped at 21 million.
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But there is no upper limit to the value of bitcoin, only a guarantee that the number of new coins does not outrun demand.
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17m of 21m bitcoin are already mined now, and by 2023 19m will have been mined. Mining difficulty adjust to keep block time constant, and block rewards geometrically decrease so that the total supply approaches 21m asymptotically. https://en.bitcoin.it/wiki/Controlled_supply …
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