Specifically, the economy which has sprung up around the Bitcoin project including goods and services purchasable with bitcoins. Do not use for questions about Bitcoin deflation, etc. as such questions are better tagged "Economics"

learn more… | top users | synonyms

1
vote
1answer
30 views

Small altcoin usage effects

So I'm working on an altcoin for me and my friends to use. None of them are familiar with mining. If my computer is the only one mining, how much would that affect the economy? Also, how many ...
0
votes
0answers
85 views

How much Bitcoin volume is for purchasing stuff versus trading/speculation/investment?

What percentage of Bitcoin transaction volume is due to people actually buying stuff ("goods") versus between traders, investors and speculators? Of the "goods" volume, what percentage is for illicit ...
0
votes
3answers
77 views

Why are people creating so many coins and can all of them sustain?

I wonder why people are creating so many crypto currencies and how many of them may sustain? Can anyone here predict what is going to happen? (Not asking to predict what coins are going to sustain as ...
-2
votes
2answers
142 views

What will be the value of a bitcoin if it becomes as common as any other currency? [closed]

The bitcoin is around 1000USD today even with very little adoption. I am wondering what its value will be if it becomes as common as other currencies (say USD).
0
votes
2answers
747 views

why did bitcoin suddenly spike? [closed]

about 2 months ago the price was at about 140 USD per coin, but a couple days ago I checked and it was well over 1000! what caused the sudden spike in value and will it continue to grow?
3
votes
0answers
140 views

What has caused bitcoin to double in value in the last ten days? [closed]

What is the reasoning behind bitcoin's value skyrocketing in the last 10 days? Why the sudden influx of Chinese investors? Does this constitute another bitcoin bubble?
4
votes
3answers
617 views

How can Bitcoin change the world?

Let's think of a hypothetical scenario if Bitcoin becomes the world's major (most used + highest market cap) currency one day. How will it change the world? The obvious point is cheaper money ...
3
votes
1answer
160 views

Chinese Bitcoin background

What is the background of the whole Bitcoin ecosystem in China? Their market has been growing insanely in the last days... but I guess it can be very specific (different mentality of people, the Yuan, ...
2
votes
1answer
207 views

Why did Dan Kaminsky say that Bitcoin is dependent on the Federal Reserve?

Dan Kaminsky embed a custom message in a block, which reads "BitCoin's new dependency upon [...] BERNANKE". Why did he say that Bitcoin is dependent on the Federal Reserve?
2
votes
1answer
284 views

What is the maximum amount of users bitcoin is ideally suited for?

In terms of user scalability, how many total users is the current bitcoin system best suited for? Example: The current bitcoin mining limit is set at 21 million, therefore the bitcoin ceiling does not ...
4
votes
3answers
337 views

Why hasn't bitcoin mining been scaled / wouldn't that ruin the concept?

I'm just learning/getting started with bitcoin and one thing that's obvious straight away, is that the more computational power you can throw at it (with the cheapest energy possible), the more coins ...
4
votes
2answers
127 views

Probablity that a Bitcoin has been Lost

I am building some new metrics to better understand the Bitcoin economy and one that seems to be useful is a probabilistic notion that a Bitcoin has been lost. I'm aware of the bitcoin days destroyed, ...
3
votes
1answer
319 views

Metrics to Study the Bitcoin Economy

I'm creating a course on the Bitcoin on Udemy that serves as both an introduction to the bitcoin and also a source to explain how mining and speculation work. I'm working on lecture three which is on ...
-1
votes
1answer
96 views

Is possible to control the network? [duplicate]

Can anyone with enough computing power, take over the network ? This is following from a previous comment where I was asking : ... how can that be possible (to control the network) if mining tend ...
2
votes
3answers
228 views

Any Stock Trading using Bitcoin?

I would imagine Bitcoin is the perfect tool for students to learn about economic and learn about investing. Any out there available yet?
4
votes
3answers
966 views

How does Bitcoin “inventor” makes money?

Other than by having a non existent digital code become currency and riding on seeing the previously no-value cash become more valuable, how does the Inventors of Bitcoin profit from developing ...
2
votes
2answers
162 views

Can you use BTC without mining?

Question: Can I just buy/sell/trade to BTC and hold it and still be profitable? I mean with money you'd need to invest it in stocks, bonds, and etc to make more cash and simply holding on to cash over ...
1
vote
1answer
179 views

Long term cost of using cryptocurrencies

I'm not an economist but.... What are some way of determining whether cryptocurrencies will be a cost effective way of trading compared to some established fiat currency like USD? In other words, ...
14
votes
7answers
2k views

What are some ways that the powerful elite can thwart cryptocurrencies?

What are some ways that the powerful elite can thwart cryptocurrencies? Cryptocurrencies appear to be not susceptible to most forms of power, regulation, or control. Due to their decentralized and ...
2
votes
3answers
1k views

Will bitcoins be devalued by competing digital currencies? [closed]

Bitcoin is becoming more recognizable and trusted. But as it's popularity increases, the supply isn't going to change significantly because the supply is fixed to the internal mining algorithm. This ...
-1
votes
1answer
196 views

How bitcoins increase their value [duplicate]

Possible Duplicate: How is the exchange rate for Bitcoin established? I notice that bitcoins are sold on the market with alternate prices. How is their price established ? Who is ...
2
votes
2answers
1k views

What research papers cover Bitcoin's impact on Central Banks, “velocity of money”, and reserves?

I'm looking for research papers that cover the impact Bitcoin may have on Central Banking, interest rates, velocity of money, and their reserve. What research papers or information from thought ...
2
votes
1answer
256 views

Why it's not good to the community to hoard bitcoins?

Colin Dean's answer to zcopley's question inspired me to ask this: While Bitcoin supporters would hope that one would not hold on to Bitcoin as an investment, but rather spend it in order to further ...
6
votes
3answers
592 views

Can I buy or sell with bitcoins offline?

Is it possible to buy or sell something using Bitcoin, in an offline mode? In other words, if I had my wallet on my mobile phone and I wanted to send or receive money from another Bitcoin user who ...
23
votes
1answer
7k views

What are colored coins?

What exactly are colored coins? I've tried understanding, but I don't quite get it yet . . . Do any examples exist?
12
votes
4answers
6k views

What will happen to mining after the 20 999 999th Bitcoin?

After the 21 millionth bitcoin or 20 999 999th bitcoin is mined, what will happen to bitcoin mining? - will it just stop, or will we make a further division of the satoshi thanks to Bitcoin's infinite ...
6
votes
2answers
4k views

How will the Bitcoin network look after BFL ASIC hardware shipments?

There have been over 7000 pre-orders of BFL SC series mining machines, with the cheapest one supposedly running at 3.5 GH/s and the most expensive being 1000GH/s thats a lot of hashes about to be ...
3
votes
1answer
568 views

Between which locations are transfers using Bitcoins cheaper than PayPal for 100$?

I believe that once it becomes significantly cheaper to transfer money between countries using Bitcoins, its usage will increase significantly. My question is, therefore, between which countries will ...
7
votes
5answers
911 views

How do economists view Bitcoin?

Have there been any articles or presentations about Bitcoins in any influential or respected economic websites or perhaps interviews with notable economists?
8
votes
5answers
3k views

Is there any good reason to buy Bitcoins?

I've read the introduction to bitcoins. But the main question remains: what reasons could push me to buy bitcoins today?
7
votes
4answers
2k views

Why did Bitcoin transaction volume heavily increase in November and December of 2011?

Looking at this chart: http://blockchain.info/charts/estimated-transaction-volume It's clear that the amount of bitcoins moved between November 14th and December 12th of 2011 was much larger than any ...
4
votes
1answer
428 views

What would be an estimate of the value gained if the whole world started using Bitcoins?

I remember that before the Euro was first introduced, I read estimates on how much economical benefit every person would get (GDP per capita) once the Euro was fully implemented. Estimates like these ...
11
votes
4answers
338 views

Is there already an existing closed cash flow loop for the currency BTC?

Loop means: merchant will get delivered goods from producer in BTC customer will buy goods from merchant in BTC factory worker will get salary as BTC (at least in parts) At this loop there is no ...
-2
votes
1answer
158 views

What's the best way to ask a merchant to accept Bitcoin? [closed]

When I buy something off the internet, I'd like to ask the merchant to consider accepting Bitcoin. What's the best way to explain to a merchant what Bitcoin is, and what it would do for them? Any ...
19
votes
8answers
6k views

Where can I sell things for bitcoins?

I have old items that I want to sell for bitcoins. This includes digital content and physical objects. What websites can I use to sell them?
7
votes
7answers
599 views

What are the obstacles to pegging the value of bitcoin to an established stable currency?

Many people will not touch bitcoin due to it's historically extreme volatility. Many new currencies have pegged their value against an established currency until such time as it is sufficiently ...
6
votes
4answers
615 views

Can Bitcoin software be used to create a private currency (single issuer)

I understand Bitcoin software can be used for private currencies. Can it be used to create a private currency (the NewCurrency) where there is only one issuer of NewCurrency and any monies raised are ...
5
votes
2answers
1k views

What happens to cash used to buy bitcoins?

Are there any requirements to Bitcoin exchanges [USD/EUR/etc], as to for what the [USD/EUR/etc] may be used? Or is the [USD/EUR/etc] received property of issuer of bitcoins? Unfortunately, this is ...
2
votes
1answer
161 views

Inflatory and deflatory economy comparison [closed]

Does anyone know of any good book/paper/article comparing the inflatory and deflatory economies? I would like to know if there are any scientific publications on the matter that are approachable to ...
8
votes
2answers
879 views

How can determine the fundamental theoretical value of the Bitcoin based on steady state daily velocity (BTCDD)?

The VISA network (VisaNet) supports 4.4 Trillion dollars of commerce per year (2009). If we assume (somewhat arbitrarily), that the Bitcoin Days Destroyed metric approaches 50% (half of all coins are ...
8
votes
2answers
572 views

What does a comparison of Bitcoin Days Destroyed say about Bitcoin vs Namecoin vs SolidCoin?

The Abe blockchain explorer provides statistics for percentage bitcoin days destroyed, using the generic term "% CoinDD". Currently Bitcoin is 36.1245%, Namecoin is 41.5547%, and SolidCoin is ...
-3
votes
1answer
244 views

Is the cryptocurrency Bitcoin a good idea? [closed]

http://www.quora.com/Bitcoin/Is-the-cryptocurrency-Bitcoin-a-good-idea/answer/Adam-Cohen-2 As someone who studied Economics before Computer Science, to me this answer raises some very valid points. ...
13
votes
2answers
474 views

How could recurring payments be implemented?

I pay for some things on a regular basis. They generally fall into two categories: Things I pay for or lose, eg a variety of online services (Spotify for example) Things I'm legally obliged to pay ...
14
votes
1answer
477 views

Is Bitcoin suitable for fast transactions, eg in shops?

Let's say all usability problems were solved. I'm imagining something like shops with tills that present QR codes for the amount and payment address for a transaction, and mobile clients exist that ...
17
votes
5answers
826 views

Are Bitcoins destined to forever increase in value?

The idea of a currency with a limited number of units seems to me to be fundamentally different to existing currencies. While other currencies are generally based on permanent inflation - more ...
41
votes
10answers
2k views

Is there a way to set up proof-of-work systems so they would be even more useful?

One of the arguments made against Bitcoin's design choices is that it wastes resources authenticating transactions. In particular, finding small hashes is completely useless for the world. Are there ...
12
votes
11answers
1k views

Where can I find people willing to pay me in bitcoin for services?

For those of us unable or unwilling to spend our native currencies on bitcoin, but willing to work for them. Where are the bitcoin-jobs(or micro-jobs) to be found?
-1
votes
1answer
339 views

Could Bitcoin work as a world currency? [closed]

We've seen the issues taking place with the Eurozone, notably that countries who share monetary union seem to ultimately need to share economic union, which tends to lead to political union. Is there ...
7
votes
1answer
463 views

How are MtGox options going to affect Bitcoin price volatility?

MtGox plans to introduce Options, would Bitcoin price become more stable or it would just hedge risks?
11
votes
5answers
532 views

Does the bitcoin design make bitcoins suitable as a medium of exchange, a store of value, or both?

Money is often seen as having various functions, such as "medium of exchange" (something useful for conducting transactions, and "store of value" (something valuable as an investment). Was bitcoin ...