๐จ๐ Who Controls the Issuance of Bitcoin?
๐จ๐ Who Create Bitcoin system?
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There is no one controlling the issuance or supply of Bitcoin. Rather, the supply of Bitcoin follows a set of programming rules of the blockchain. These rules are:
The total supply of Bitcoin is fixed at 21 million only
The mining reward starts with 50 BTC per block mined
Block rewards will be halved with every 210,000 blocks
The same cycle repeats until all Bitcoin supply has been mined
The creator of Bitcoin, Satoshi Nakamoto, introduced Bitcoin halving to regulate its production to keep it deflationary, as opposed to fiat currencies. This is where the beauty of Bitcoin stands out against fiat, where central governments can print more supply of its currencies at will, causingย inflationย to the entire nation or in the case of USD, to the entire world.
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