Accounting for the total amount of Bitcoins

Have you ever heard that there are only 21 million Bitcoins? Well this statement is both true and false depending on the perspective you are coming from.

There are only 21 million coins

Actually, the number is less than that; the exact number of Bitcoins that could ever be created is only 20,999,999.9769 Bitcoins.

The founder took; 1 million coins

Even before Bitcoin became a thing, Satoshi Nakamoto the founder had already stashed up close to 1 million coins for himself. That leaves the world with only 20 million coins, while Satoshi Nakamoto can boast of being a billionaire.

Several Bitcoins got "lost"

In the early days of Bitcoins when it was worth nothing, several people misplaced the keys to their Bitcoins due to carelessness and negligence resulting in the permanent lost of thousands of Bitcoins. Since coins whose private keys have been lost cannot be ever used, they are lost forever.

This should serve as a good reason to keep the keys of your Steemit and other crypto-coins secure.

Each coin is divisible into a 100 million units

Well, part of the reason why it is possible for Bitcoin to reach over $1 million per coin is due to the fact that each single coin is divisible into over 100,000,000 units!

This means only 10 Bitcoins are equal to 1 trillion units of Bitcoins; 10 BTC x 100,000,000 units = 1 trillion units

Perhaps there would always be more than enough Bitcoins for everyone.

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