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✅Bitcoin price reaches $65,500, approaching its highest level ever
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🔥Why why did Satoshi choose the 21 millionth Bitcoin?🔥
From the correspondence that was recently revealed; Satoshi's answer was that choosing the number was just an "educated guess."
Satoshi did not look at Bitcoin as a single unit (21 million coins), but rather looked at its smaller units that we now call Satoshi. (100 million satoshi per coin). Why?
Satoshi wanted to model the economic system of Bitcoin similar to the economic system of fiat currencies - of course without the disadvantages such as inflation, unlimited printing, etc. - because he expected a scenario in which Bitcoin would be used as part of payments for global trade.
If this scenario occurs, there must be a sufficient number of “units” to facilitate the use of Bitcoin as a means of payment, and at the same time there must not be a huge number of “coins” to maintain the value of the currency relatively if the scenario fails.
Satoshi gave the example that if 0.001 BTC = 1 EUR, then the decimal point could be swapped backwards, so that we say 1 BTC = 1000 EUR.
This implicitly confirms what I mentioned in the attached tweet, which is that Satoshi took into account the amount of cash present in the world at that time (M1)... and represented it in the form of units of Bitcoin (Satoshi), and at the same time he kept the number of currency supplied as a limited number. It swells. (21 million coins).
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