Comment: Bitcoin supply is FOREVER set at 21M

In post: ECB: "Roots of Bitcoin Can Be Found In The Austrian School Of Economics"

In reply to comment: Bitcoin does not pass the sound money test (see in situ)

Bitcoin supply is FOREVER set at 21M

Submitted by happygeorge on Sun, 12/02/2012 - 09:45. Permalink

Yes, the total supply of Bitcoin has been forever set in (digital) stone at 21,000,000 bitcoins by its creator.

The allocation of those bitcoins is taking place right now. So far 50% of all those bitcoins has been "allocated" to individuals using the protocol to access the network of computers who are all working together to secure the whole system.

In short. It is like "God" placing gold on the planet, and miners now are going around "allocating" some of those bits of gold to themselves by doing a bit of work to get it out of the ground, and securing their find in their strong hands.

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Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]