[JLMounce]

Originally Posted by BOB VIDAN

This simple mind gets easily confused. How can anyone limit how many are "mined" when they started with nothing and they are backed by nothing? If you can give me a logical answer to this, maybe you can figure out why I take crappy pictures for my ads.

Bitcoin half’s its rate of production on average every 4 years. Because a rounding event occurs past the smallest unit of measure, eventually nothing more can be mined as it’s rounded to zero. That number will be somewhere between 20-21 million coins. It’s essentially a hardcoded cap as a result.

Here’s an article that goes over the math.

https://www.ccn.com/education/how-do...50%2C000%20BTC

[71GP76TA]

When I went to the "seminar" the lady showed everyone one of the coins. IIRC It was a little bit bigger than a silver dollar and it was gold in color. I don't know if the actual coin was worth anything but it was very shiny and looked pretty cool. Still wasn't enough for me to buy in. If was more gullible... I'd be rich..

[kingbuzzo]

[JLMounce]

Originally Posted by 71GP76TA

When I went to the "seminar" the lady showed everyone one of the coins. IIRC It was a little bit bigger than a silver dollar and it was gold in color. I don't know if the actual coin was worth anything but it was very shiny and looked pretty cool. Still wasn't enough for me to buy in. If was more gullible... I'd be rich..

Probably a good thing you didn't buy in on that seminar. There are no physical bitcoins. There never were any physical bitcoins and there never will be any physical bitcoins. The currency is 100% digital.

They may have been giving away trinkets to try and sell the idea, but that's a big red flag, especially if they were going to steward your money for you.

You don't have to pay anybody any money to mine bitcoin, send it or receive it. That caveat is that you'd have to write your own computer program that can access the bitcoin ledger. If you don't have the skills to do that, or simply don't want to, you have to use somebody else's product (Coinbase, Kraken, Ledger, Binance etc.) to purchase them and pay whatever transaction fee they take along with it.