[greg_bt]

I don't know if 'bitcoins are being created every day' is the right way of looking at it? Bitcoins are more discovered as opposed to created. It would be like if every USD ever was buried and people were gradually digging them out of the ground and everyone knew exactly how many were buried? The amount of bitcoins in circulation is increasing but the total amount of bitcoins that will ever exist isn't increasing at all.

[Jach]

It's also increasing at a controlled rate. To make your analogy more complete, it'd be like all the diggers are aware of each other and whether they've found a USD or not. If too many are being found at once, everyone switches to using their hands. If still too many are found, everyone uses their tongues. If too few are being found, shovels are allowed. If still too few are being found, backhoes are allowed.

[drivebyacct2]

Can you give this analogous type summary of how this works from a technical perspective? I assume it doesn't rely on everyone coming to some sort of an agreement?

[Dylan16807]

It does actually rely on agreement. Clients track the network speed and only accept difficult enough hashes.