Why did Satoshi pick 21 million as the number of bitcoins to be created? What is the significance of that number?
>A total of 174,100 tonnes of gold have been mined in human history, according to GFMS as of 2012.[2] This is roughly equivalent to 5.6 billion troy ounces or, in terms of volume, about 9261 m3, or a cube 21.0 m on a side.
Since Bitcoin is often compared to gold, total number of bitcoins matches total amount of gold mined in human history which can be imagined as a cube 21 m on a side.
Just had to share these quotes from this Stack Exchange post about the 21 Million Number of bitcoin and thought I could use https://dlike.io to share it, we should be using these services to use our steem accounts like a fire hose!
The Stack Exchange post also goes n to talk about not only the interesting historical Gold supply factoid but how the $1 Valuation needed a low 21 million supply to reach $1 parity in the early days with just a few million dollars in marketcap.
>So the number needed to be a low enough number so that while total dollar valuation of all bitcoins was still in the single-digit millions it would reach parity with the U.S. dollar at some point.
Anyway I hope this "description; for #dlike wasn't too long! I will try to get 