Linked Questions

59
votes
11answers
10k views

Will Bitcoin suffer from a mining Tragedy of the Commons when mining fees drop to zero?

One issue that I haven't seen clearly addressed is the possible Tragedy of the Commons in Bitcoin's future (see this answer). 40 years into the future, the only significant direct benefit for honest ...
28
votes
11answers
8k views

Can bitcoins be “sold short”? Or are there “put” options?

Borrowing an asset and "selling it short" facilitates finding the appropriate price for the asset, allowing people to bet that the asset is overpriced (e.g. in a "bubble"). Can bitcoins be sold short?...
13
votes
8answers
2k views

Could bitcoin be destroyed if an entity cornered the market?

I know the US Government is opposed to competing currencies. It seems that it would be a rather simple solution for them to destroy Bitcoin before it grows too much by merely buying all the currency, ...
18
votes
7answers
7k views

Do USA-based miners need to register with FinCEN?

As seen in recent news, FinCEN has issued a statement on its classification of virtual currencies: http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html Hypothetically suppose I mine ...
8
votes
4answers
4k views

Does the creator of BitCoin hold a 'master' private key?

If the creator of BitCoin, whoever he/she is, was the one that started the block-chain and with every cryptographic operation deriving from that initial key, would the network be under the complete ...
13
votes
3answers
38k views

What are the perceived advantages of bitcoin as a store of value?

This complements What are the perceived advantages of bitcoin as a means of exchange? To some, Bitcoin today is considered "better" than other stores of value. Why do some people think it's a good ...
5
votes
3answers
502 views

From a legel perspective, are Bitcoins “created” by a miner or the Bitcoin Protocol?

The recent FinCEN announcement said explicitly that virtual currency isn't a "currency" by the standard sense of the word, and shouldn't be regarded as such. Should Bitcoin ever be considered a "...
3
votes
4answers
702 views

Would bitcoin be destroyed if a wealthy organization obtained a CPU majority for a sustained period?

Inspired by this question ("Could bitcoin be destroyed by an entity cornering the market?") and the top comment on this answer to this question ("How much would it cost to execute a 51% attack?"). ...
4
votes
4answers
393 views

What are ways a BTC Exchange could steal from its customers, and how can they protect themselves?

Mt Gox is the dominant Exchange that handles BTC to USD conversions. Given the recent spike in price, and that Mt Gox is the primary exchange that publishes this price, it's conceivable that a second ...
2
votes
2answers
596 views

How can bitcoins be used for daily currency if their value changes erratically?

If Bitcoin was the worldwide money system... Suppose that you work and save your bitcoins, to purchase something big like a house or car, but the value fluctuated like crazy, as the stock market does....
0
votes
2answers
306 views

How the BTC-e could dive to 102 points (from 700) and the recover back to 700

At around 10.00AM of 10th Feb, BTC-e had hit the low level of 102 USD/BTC from 700 USD half hour before. How is it possible at all? And even after such a big dip, how did the market recover and ...