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Edited ch12_mining.adoc with Atlas code editor
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@ -99,7 +99,7 @@ consensus.
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=== Bitcoin Economics and Currency Creation
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Bitcoin are minted during the creation of each block at a
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Bitcoin are ((("bitcoins", "mining", "currency creation", id="bitcoin-mining-create")))((("mining", "currency creation", id="mining-create")))((("currency creation", id="currency-create")))((("Bitcoin", "economics of", id="bitcoin-economics")))((("economics of Bitcoin", id="economics")))minted during the creation of each block at a
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fixed and diminishing rate. Each block, generated on average every 10
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minutes, contains entirely new bitcoins, created from nothing. Every
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210,000 blocks, or approximately every four years, the currency issuance
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@ -159,7 +159,7 @@ Total BTC to ever be created: 2099999997690000 Satoshis
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The finite and diminishing issuance creates a fixed monetary supply that
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resists inflation. Unlike a fiat currency, which can be printed in
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infinite numbers by a central bank, no individual party has the ability
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to inflate the supply of bitcoin.
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to inflate the supply of ((("bitcoins", "mining", "currency creation", startref="bitcoin-mining-create")))((("mining", "currency creation", startref="mining-create")))((("currency creation", startref="currency-create")))bitcoin.
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.Deflationary Money
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****
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@ -196,7 +196,7 @@ at the expense of savers.
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It remains to be seen whether the deflationary aspect of the currency is
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a problem when it is not driven by rapid economic retraction, or an
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advantage because the protection from inflation and debasement
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outweighs the risks of deflation.
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outweighs the risks of((("Bitcoin", "economics of", startref="bitcoin-economics")))((("economics of Bitcoin", startref="economics"))) deflation.
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****
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=== Decentralized Consensus
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