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Questions tagged [macroeconomics]

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18
votes
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 ...
15
votes
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 ...
6
votes
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 ...
6
votes
2answers
454 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 ...
6
votes
2answers
811 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 ...
2
votes
1answer
484 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
2answers
80 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?
1
vote
2answers
82 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 ...
1
vote
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 ...
1
vote
1answer
839 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 ...
0
votes
2answers
210 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 ...