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Questions tagged [macroeconomics]

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77 views

What is the source of bitcoin value?

From what I understood, the economic intrinsic value of Bitcoin as a currency is based on the "CPU-work" required to produce them. That is what makes Bitcoin rare enough to qualify as a currency. Is ...
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1answer
44 views

Is a loss of trust in USD necessary for the success and mainstream adoption of Bitcoin?

Considering that Bitcoin will succeed if it gets to become a widely adopted store of value and means of payment, current fiat currencies' role would be taken by BTC and the value of those fiat ...
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1answer
817 views

How to calculate velocity of Bitcoin?

So determining the value of bitcoin is not the question at stake here. Suppose there's a new bitcoin with a production algorithm that's tied to the feedback rule proposed by McCallum and adjusts ...
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2answers
78 views

Bitcoin from an economic standpoint?

Anybody have any good resources to learn about bitcoin from an economic standpoint? Specifically discussing the debate around its deflationary nature?
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6answers
1k views

How can Bitcoin solve societal problems caused by capitalism?

While trying to explain Bitcoin to a friend, her response was: To me this sounds like just an other monetary system which can be speculated on while making some people rich and keeping others ...
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2answers
209 views

why is the growth in the number of bitcoins not convex?

If I look at the chart below: https://blockchain.info/charts/total-bitcoins?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= and I check the ...
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2answers
437 views

How do we know that the algorithm of Bitcoin does not embed bugs since inception?

I'm new to Bitcoin. My understanding as a trained economist (and not a programmer or IT expert) is that the key selling point of Bitcoin is the assignment of monetary policy prerogatives to an ...
2
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1answer
474 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?
6
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2answers
686 views

Inequality in a Bitcoin World

So let's assume at some point in the future bitcoin has replaced fiat currencies and we thus have a fixed money supply. Let's also assume we have increasing production and therefore deflation. It ...
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6answers
5k views

How much energy will the Bitcoin network eventually consume? [duplicate]

A recent Bloomberg article stated that the Bitcoin network currently consumes about half as much energy as the Large Hadron Collider or enough to power 31,000 US homes. Even if the article is way off ...
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10answers
3k views

Effect on economy if Bitcoin was widely adopted

What would the effects be on the world economy if several million people around the world would utilize the Bitcoin currency for their daily transactions? Would you expect the GDP to grow faster or ...