Why is Bitcoin capped at 21M, and not some other number?Why is Bitcoin capped at 21M, and not some other number?
Probably this 👇, but I'm not sure at all.
Number of blocks per four years cycle (assuming perfect timing of 10min per block):
- 6 blocks per hour
- 24 hours per day
- 365 days per year
- 4 years per cycle
6 * 24 * 365 * 4 = 210,240 ~= 210,000
Sum all the block reward sizes:
50 + 25 + 12.5 + 6.25 + 3.125 + … = 100
Multiply the two:
210,000 * 100 = 21 million.
Which is summarized by the formula:
I have a simpler answer to this, Satoshi Nakamoto is fascinated by the number 21
This and other theories - https://thenextweb.com/news/heres-why-satoshi-nakamoto-set-bitcoin-supply-limit-to-21-million
I recommend this podcast, where Saifedean Ammous and Pierre Richard talk about this subject:
https://fountain.fm/episode/rFQ9MS8KGOpFYCAVWXgZ