I was first asked this question at Lugano Plan ₿’s conference, but it is often asked by those who are new to Bitcoin, as well. nostr:npub1ltt9gry09lf2z6396rvzmk2a8wkh3yx5xhgkjzzg5znh62yr53rs0hk97y and nostr:npub1dtgg8yk3h23ldlm6jsy79tz723p4sun9mz62tqwxqe7c363szkzqm8up6m answer this question thoroughly.

Below is Arman the Parman’s answer, as written in “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”:

𝗔𝗿𝗺𝗮𝗻 𝘁𝗵𝗲 𝗣𝗮𝗿𝗺𝗮𝗻’𝘀 𝗮𝗻𝘀𝘄𝗲𝗿:

The math is such that if we start with 50 bitcoin for every block, and halve that at every 210,000th block, the upper limit of the total number of coins approaches a number of just under 21 million.

Satoshi could have used a different combination of 50 and 210,000 and the upper limit would be different. Was it planned, or arbitrary?

I have always hoped, purely because it’s elegant, that Satoshi looked at the total world store of value in USD, which I estimated to be 2.1 quadrillion dollars. If Satoshi had that number too, then with 21 million bitcoin, there’d be 2.1 quadrillion of the smallest units (now called satoshis, 0.00000001 bitcoin is a satoshi). If Bitcoin took all that store of value, and many expect it will, then 1 satoshi would be worth 1 dollar. Poetic.

Arman The Parman is a Bitcoiner passionate about Bitcoin privacy and private key safety. He runs an online mentoring program to help people reach "insane security", and developed and teaches a non-custodial inheritance strategy which is both trustless and loss resistant. He contributes to Bitcoin by writing economic and technical articles posted on his website.

Preorder your copy of “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”, and 𝘀𝗮𝘃𝗲 𝘂𝗽 𝘁𝗼 𝟲𝟬%, by contributing to our nostr:npub1kmwdmhuxvafg05dyap3qmy42jpwztrv9p0uvey3a8803ahlwtmnsnhxqk9 initiative:

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