I do not know if this was thought up forward of time, however it certain is smart in hindsight.
The explanation 21 million is the correct quantity is as a result of folks do not know easy methods to worth currencies.
As an example, proper now a Euro is value $1.30 USD and a Japanese yen is value a few U.S. penny. Ask somebody which foreign money they’d quite maintain proper now and most will reply Euro, as a result of $1.30 is value greater than $0.01.
In fact, that relative unit worth means nothing. Ask most foreign money merchants which foreign money is best to carry and most (right now) would in all probability say Japanese yen, as a result of what issues is whether or not the worth will go up or down, relative to the opposite being in contrast.
When bitcoin hit parity with the U.S. greenback in Feb 2011, it gained a way of legitimacy that helped propel it on an incredible tempo, rising over 30X that stage simply 4 months later.
If there had been greater than 6 million cash issued by then, the entire greenback worth of all bitoins would in all probability have been about the identical, and thus the alternate price would then have been decrease. So for example there have been as an alternative 60 million cash issued by Feb 2011, and each value a dime. That 60M X $0.10 is the very same complete greenback valuation the 6M X $1 has ($6M) for all bitcoins mixed. Tthe distinction is that as a result of it had develop into “value greater than a greenback”, and because of this folks attributed better curiosity and respect for it. Had it not been “value greater than a greenback” so early, it may need taken an entire lot longer to get the identify recognition and a spotlight it did that has helped appeal to the individuals that Bitcoin has right now.
Bitcoin right now stands on “greenback parity”‘s shoulders.
That will sound weird however ask that Euro / Yen query to totally different folks your self after which ask the explanation why their reply was given.
So the quantity wanted to be a low sufficient quantity in order that whereas complete greenback valuation of all bitcoins was nonetheless within the single-digit tens of millions it could attain parity with the U.S. greenback sooner or later.