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Questions tagged [currencies]

something that is not directly useful (like a commodity) but which can be used as a medium of exchange or a store of value. Essentially, money.

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18
votes
1answer
16k views

What are the perceived advantages of bitcoin as a means of exchange?

There are lots of ways to send money - western union, paypal, bank wire, etc that are more established and fairly quick. What are the advantages of using bitcoin from a bitcoin-proponent's point of ...
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, ...
32
votes
4answers
49k views

How to fork Bitcoin and build own cryptocurrency

Is there any step-by-step tutorial about how to build own cryptocurrency based on Bitcoin code?
9
votes
2answers
1k 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 ...
26
votes
11answers
361k views

How can I change BTC into normal cash?

Can you eventually hold the bitcoins in your hand, like real cash dollars or euros or something? If so, how? I've gone through all the service previews and introduction videos (actually, a video), ...
7
votes
3answers
5k views

How can I get a new Bitcoin exchange up and running?

I would like to have a Profit Points <-> Bitcoins exchange. The exchange could either be developed and run by contributors of Open-org.com or be created by an existing Bitcoin exchange. I have, ...
3
votes
4answers
704 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?"). ...
13
votes
4answers
33k views

Does it make sense to use BitCoin to transfer money to yourself internationally?

If you have a bank account in the US and an account in the UK, and you want to move money from one to the other, is Bitcoin a sensible way to do it, or are you better off using TransferWise or just ...
3
votes
2answers
381 views

In the end, will there be only one? [closed]

Highlander pun aside, will one cryptocurrency vastly dominate the rest in the future? Will it be a handful? Will each government come up with their own cryptocurrency?
1
vote
2answers
860 views

How to keep track on new cryptocurrencies

Here is a situation: new cryptocurrencies appears with a huge speed and also most of them are just useless clones, there might be some interesting one with new ideas. I would like be know when they ...
3
votes
3answers
2k 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 ...
12
votes
5answers
672 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 ...
5
votes
3answers
3k views

Is it possible to create a cryptocurrency that has a fixed value? [duplicate]

I like Bitcoin for its ease of use and security. It makes "money" transfer fast and easy, however a lot of people are afraid to use it because of its volatility, Would it be possible to create a ...
2
votes
1answer
374 views

What pressure prevents alternate currencies from completely diluting bitcoin?

Looking into LiteCoin a bit makes me wonder: if LiteCoin were to gain transaction, what's stopping a 3rd, 4th, and 5th currency from gaining traction as well? Wouldn't this effectively eliminate ...
15
votes
2answers
2k views

What are Namecoins?

What are Namecoins exactly, how do they differ from Bitcoins, and how come one is able to merge mine them along with Bitcoins?
14
votes
4answers
23k views

What is the point of Feathercoin

The amount of bitcoin-like crypto currencies overwhelms me. Just few minutes ago I came across FeatherCoin The problem is that the information on the official site is scarce and the only thing I was ...
4
votes
3answers
21k views

Will a bitcoin miner work for other currencies?

If I purchase a card (or similar device) that claims to mine Bitcoins at 10 GH/s, will that device also work for other currencies? That is, would the device also work on a multi-pool for litecoins, ...
3
votes
4answers
1k views

Are There Examples of Asset Backed Virtual Currencies?

Here is a very natural idea: an entity creates a new virtual currency with the following properties: Only that entity has the capability to issue new quantities of that currency That entity makes ...
1
vote
1answer
104 views

how is the value of crypto coin decided

Can any one help me with required information how a newly created coin value is assigned ? and how does the rate fluctuations occur
21
votes
3answers
2k views

What is Ripple and how does it compare to Bitcoin?

What is Ripple, and how does the system compare to Bitcoin?
7
votes
4answers
2k views

How to stabilize Bitcoin's exchange rate (reduce volatility)?

Is it possible to stabilize exchange rate(s) of Bitcoin to FIAT currencies (USD, EUR etc.) and make the rates less volatile only by raising the market capitalization (more people buy/invest in Bitcoin ...
4
votes
6answers
5k views

Where can I find Crypto Coin data?

I'm looking for sources of crypto currency data, preferably historical, which I can use to back-test my bots and/or analyze the market. Is there a reliable source for this online ? Do exchanges offer ...
10
votes
2answers
460 views

Decentralized transactions between two decentralized currencies

Currently, bitcoins and namecoins are implemented using the Bitcoin protocol. And there might be several reason for new block chains to appear, but this is not the subject here. As far as I know, ...
6
votes
1answer
1k views

Comparison of different active cryptocurrencies [closed]

I haven't realized until recently how many different crypto-currencies have emerged the last years; coinmarketcap.com lists around 60 of them* and it seems that it isn't even a complete list (for ...
6
votes
2answers
3k views

Calculation of arbitrage profit

I have made calculations based on 3 exchange buy and sell orders. (Cryptsy, C-cex and Bter) and have taken DOGE/BTC market into account. Both cryptsy and C-cex have the same calculations to get the ...
5
votes
4answers
673 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 ...
3
votes
3answers
761 views

What is needed for Bitcoin to become the reserve currency of the world?

Bitcoin's characteristics seem to make it a prime candidate as a reserve currency, given it has fast transactions to anywhere in the world at a low cost with little to no price manipulation or export/...
1
vote
1answer
214 views

Possible to temporarily reduce the supply of a cryptocurrency?

Does a cryptocurrency that can have its supply be reduced based on some factor currently exist? If not, is this possible? If so, how?
0
votes
2answers
938 views

Calculating the current price of 1 BTC?

I am planning to get into BTC as I have some PC with xfire (7970's) laying around here and I am currently trying to learn more about it; what I would like to first understand is BTC pricing to make ...
6
votes
3answers
1k views

Pricing bitcoins

Bitcoin functions as a a quasi-commodity currency and I believe it can be priced according to particular factors, variables, instead of simply by the supply and demand in the exchange order book. The ...
6
votes
3answers
373 views

What are the qualities of a country that might make it more or less likely to freely allow Bitcoins or crypto-currencies?

As some examples which seem logical to me, but should only be taken as examples: A government that is susceptible to commercial lobbying is probably more likely to be pressured by banks to disallow ...
4
votes
5answers
600 views

Does bitcoin improve on “hard” currencies in any way?

Question is in the title. Anyone who's toyed sufficiently long enough on the foreign exchange understands that currencies are largely driven by sentiment or manipulated on the odd occasion. Plus, ...
3
votes
1answer
155 views

Anonymous transactions technology for a cryptocoin? [duplicate]

I’m thinking of investing in a cryptocoin with anonymous transactions feature. So far there are 3 well-known technologies for that: coinjoin (Bitcoin), masternodes (Darkcoin) and CryptoNote (Bytecoin)....
3
votes
4answers
4k views

Is there any centralized cryptocurreny?

Is there any centralized cryptocurrency? Is cryptocurrency a Bitcoin oriented concept only? From what i read almost all of the cryptocurrencies are derivatives of Bitcoin.
1
vote
2answers
48 views

How to avoid contagious media stories affecting Bitcoins? [closed]

There is an integral connection between fiat currencies and shop prices. Can crypto's achieve the same shop use? If a crypto has a giant user base, It can be less physical than Fiat. It needs to ...
0
votes
1answer
377 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 ...
-1
votes
1answer
183 views

How to predict value of bitcoin? [closed]

I was just thinking if its possible to predict bitcoin value. If so, what would be the parameters?