Mark. Questioning the norm
Registered: Apr 2006 Posts: 11521 - Threads: 350 Location: Mirror City
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Quote:
| Reverse Swing wrote on 31-10-2013 04:11 PM
The reason why the value of Bitcoin was shooting up was because there's a finite number of them, unlike paper currency that can be printed to no end.
It is for this reason Bitcoin has been compared to a 'Gold' currency.
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The whole concept has been based on the Gold currency - the way to create more Bitcoins is even called mining.
The creation of Bitcoins (mining) becomes more and more difficult and eventually slows down to a stop in 2140. In 2140 there will be 20,999,999.9769 BTC in circulation and this will never increase, the equivalent to digging up all the Gold in the world.
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