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RE: Are Bitcoins issued or created?

in #bitcoin7 years ago

the way i understand it is that math-wise we already know how many bitcoins there are overall - mined and in the so called unprocessed-ether out there, awaiting miners to uncover them.
This way, it's hard to assume it's created, if it were created then anybody could generate them and their value would be nil. On the other hand, if there's a fixed number and obtaining it is hard then it's "uncovered" so to speak.
If you want to understand how it works then comparisons with fiat currency -although instinctively made because we're human beings- need to be kept at a minimum at best.

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Interesting your point of view. I don't know if I agree that the fact that we already know how many bitcoins there are means that they are not created. But I agree that the word discovered makes more sense in this case.

The main point of the text is to differentiate bitcoin from common 'coins' that are issued for the government, analyzing what you said, if the title were "Are Bitcoins discovered or issued?" would be better.

Many thanks =)

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