Why so many coins? 21Billion
When initially conceived Bitcoin was the first of a kind! And came into the hands of a few! The beginnings of a coin such as Bitcoin were difficult, it had to go through a lot of initial growth pains which following coins did not have to face. It is for this reason among others why we believe Bitcoin was capped at 21 million; and why today it has thus secured a place as digital gold.
When Bitcoin was first invented no one knew anything about cryptocurrencies, for the inventor to get them out to the public he would have to give them away. This is how the first Bitcoins were probably passed on, for free! But then as interest grew so did the community. For them to be able to build something and create something which could go on to have actual value, it would have to go through a steady growth phase. Therefore, the control of inflation through mining was extremely important. Also, why the cap for Bitcoin was probably set so low - to allow these coins to amass value without being destroyed by inflation (from mining) in the same way fiat is today! Satoshi Nakamoto knew what he was doing when setting it at 21 million BTC and must have known and even anticipated others would take his design and build on top of it.
At DigiByte, we are that better design and capped at 21 billion. That's 1000 times larger than the supply of Bitcoin. Why though? Why is the cap on DigiByte so much higher than that of Bitcoin? Because DigiByte was conceived to be used not as a digital gold, nor as any sort of commodity, but as a real currency!
Today on planet Earth, we are approximately 7.6 billion people. If each person should want or need to use and live off Bitcoin; then equally split at best each person could only own 0.00276315789 BTC. The market cap for all the money on the whole planet today is estimated to have recently passed 80 trillion dollars. That means that each whole unit of Bitcoin would be worth approximately $3,809,523.81!
This is of course in an extreme case where everyone used Bitcoin for everything. But even in a more conservative scenario the fact remains that with such a low supply each unit of a Bitcoin would become absurdly expensive if not inaccessible to most. Imagine trying to buy anything under a dollar!
Not only would using Bitcoin as an everyday currency be a logistical nightmare but it would be nigh impossible. For each Satoshi of a Bitcoin would be worth much, much, more than what is realistically manageable.
This is where DigiByte comes in and where it shines. DigiByte aims to be used world-wide as an international currency! Not to be hoarded in the same way Bitcoin is. If we were to do some of the same calculations with DigiByte we'd find that the numbers are a lot more reasonable.
At 7.6 billion people, each person could own 2.76315789474 DGB. Each whole unit of DGB would be worth approximately $3,809.52.
This is much more manageable and remember in an extreme case where everyone used DigiByte for everything! With the supply of DigiByte it would allow us to live and transact in a much more realistic and fluid fashion. Without having to divide large numbers on our phone's calculator to understand how much we owe for that cup of coffee! With DigiByte it's simple, coffee cost 1.5 DGB, the cinema 2.8 DGB, a plane ticket 500 DGB!
There is a reason for DigiByte's large supply, and it is a good one!