From Satoshi / Malmi email archive
(…) My choice for the number of coins and distribution schedule was an
educated guess. It was a difficult choice, because once the network is
going it's locked in and we're stuck with it. I wanted to pick
something that would make prices similar to existing currencies, but
without knowing the future, that's very hard. I ended up picking
something in the middle. If Bitcoin remains a small niche, it'll be
worth less per unit than existing currencies. If you imagine it being
used for some fraction of world commerce, then there's only going to be
21 million coins for the whole world, so it would be worth much more per
unit. Values are 64-bit integers with 8 decimal places, so 1 coin is
represented internally as 100000000. There's plenty of granularity if
typical prices become small. For example, if 0.001 is worth 1 Euro,
then it might be easier to change where the decimal point is displayed,
so if you had 1 Bitcoin it's now displayed as 1000, and 0.001 is
displayed as 1.
nico / Nico 🚨💀🚨
npub1w4…9quku
2024-02-23 16:49:35
Author Public Key
npub1w4yfhvlemcl6q3j3n9kvvcgtqreye28mkw6zwpgz7fn64sj3ph0sw9qukuPublished at
2024-02-23 16:49:35Event JSON
{
"id": "09a07a5c9ab467dfa225797cdc8dfb5b811b8a8f6ddc83f9d37f6100decd425e",
"pubkey": "75489bb3f9de3fa04651996cc6610b00f24ca8fbb3b4270502f267aac2510ddf",
"created_at": 1708706975,
"kind": 1,
"tags": [],
"content": "From Satoshi / Malmi email archive\n\n(…) My choice for the number of coins and distribution schedule was an \neducated guess. It was a difficult choice, because once the network is \ngoing it's locked in and we're stuck with it. I wanted to pick \nsomething that would make prices similar to existing currencies, but \nwithout knowing the future, that's very hard. I ended up picking \nsomething in the middle. If Bitcoin remains a small niche, it'll be \nworth less per unit than existing currencies. If you imagine it being \nused for some fraction of world commerce, then there's only going to be \n21 million coins for the whole world, so it would be worth much more per \nunit. Values are 64-bit integers with 8 decimal places, so 1 coin is \nrepresented internally as 100000000. There's plenty of granularity if \ntypical prices become small. For example, if 0.001 is worth 1 Euro, \nthen it might be easier to change where the decimal point is displayed, \nso if you had 1 Bitcoin it's now displayed as 1000, and 0.001 is \ndisplayed as 1.",
"sig": "16f1dafc1824643fda3edfb1d707fc11edeb3875c9b9ff1c7087de665619b9a9b40ef0a62969c66ea730f957e1bae81b7456b8488e7dce30a0995f00e7d8b2ce"
}