27
votes
Accepted
How does lost BTC affect the market in the long run?
The price of bitcoin is affected by demand and scarcity.
Scarcity decreases as more bitcoin are mined (up until the 21 million bitcoin limit is reached---this is the maximum number that can ever be ...
- 411
9
votes
How does lost BTC affect the market in the long run?
Most websites offering online wallets store your bitcoins against their own private key (giving them control over them), and provide you with tools to spend the bitcoins. While you don't have the ...
- 11k
5
votes
Accepted
Will the majority of miners quit mining next year if the price of bitcoin remains as it is today? Can it harm the network?
An important point is that costs are not constant.
If miners leave the network as a result of block-reward halving, the network difficulty will automatically reduce and therefore mining costs will ...
- 28k
3
votes
Accepted
"stable-coins": A formal definition?
Lets tackle them one by one:
1) Is this definition true?
Not entirely. Stable coin need not be pegged only to fiat currencies. We can also peg a stable coin to exchange traded commodities like ...
- 7,437
2
votes
What literal thing is determining the price of Cryptos / stocks?
The "current Bitcoin price" from an exchange like Coinbase is simply the last price at which a buyer and seller agreed to trade Bitcoin at that exchange, also known as the "last price&...
- 2,068
2
votes
Accepted
How does Bitcoin protect against inflation?
Inflation is increase in price without increase in utility. A car with similar features helps you get from point A to point B just like it did one year ago (same utility). However, the cost of the car ...
- 7,437
2
votes
Is there a central repository that states a country's latest policy on bitcoin?
The best I found so far is Wikipedia. It is actually quite up to date.
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country
- 61
2
votes
What percentage of Bitcoin use is legitimate?
Silk road wallet hold 144,000 Bitcoins. It had 1,2B USD in annual volume. This was 2014.
Since then darknet markets have flourished. See Measuring the Longitudinal Evolution of the Online Anonymous ...
- 2,437
2
votes
How does lost BTC affect the market in the long run?
The effect would be to make the remaining bitcoins worth more over time as the others remain unspent, as I understand it.
- 21
2
votes
Accepted
What is the advantage of a market-specific cryptocurrency?
Consumers have little need for vendor-specific coins
I am not an economist, but a lot of vendor-specific crypto sounds like Trading Stamps, Coupons, or maybe even Company Scrip. These might be ...
- 138
2
votes
What is the advantage of a market-specific cryptocurrency?
Why is there more than one fast-food service? Why is there more than one internet browser? The competitive altcoin economy encourages other coins to surge with better implementations. Bitcoin has very ...
- 947
1
vote
How to calculate circulating supply of coins in Bitcoin?
The first blocks had a 50 BTC subsidy
The subsidy of block 0 is unspendable
This subsidy is cut in half every 210.000 blocks
Block height now is 704558
This script (in Ruby) calculates the total ...
- 735
1
vote
What does "buy the dip" mean?
I get that it means that you should buy Bitcoin while the price is temporarily low, but what do they mean by it? Do they assume that people have a bunch of money just sitting around waiting to be ...
- 51.6k
1
vote
Value of cryptocurrencies: Why does noone make Bitcoin2, 3, 4,...?
Why does noone use the exact same technology of the Bitcoin and create Bitcoin 2?
They have, there are hundreds of copies of bitcoin known as "altcoins", one prime example is bcash.
If they did, ...
- 11.9k
1
vote
I bought Bit Coins while on a Bidding site. They were bought with my Credt card. How do I trace them?
You can go back and check your credit card records for the purchase. That should at least give you a name of a company. Contact that company (if they still exist), and see if they can give you ...
- 8,822
1
vote
Is a loss of trust in USD necessary for the success and mainstream adoption of Bitcoin?
There is not black and white answer here I guess, but here is my logic.
Let's say that trust is a proxy of security and stability and satisfaction is a proxy of liquidity, usability etc.
If we look ...
- 145
1
vote
How much Bitcoin volume is for purchasing stuff versus trading/speculation/investment?
It's been estimated (with many assumptions) to be somewhere around 1-4% of the total trade volume. This seems bad until you learn that the speculation market for USD is $5 trillion a day.
- 11
1
vote
What will happen to mining after the 20 999 999th Bitcoin?
miners will depend on transaction fees.. a block will continue to be mined every 10 mins.
Though bitcoin will not live till that day. For bitcoin to live till that day, it will have to be worth more ...
- 21
1
vote
1
vote
Will we ever need smaller amounts of Bitcoin than a Satoshi?
1 Bitcoin is 100'000'000 satoshis (100 million). That makes 1 satoshi worth 1 USD cent when 1 Bitcoin is worth $1 million.
If 1 Bitcoin would be worth 1 million dollars, the market cap would be 21 ...
- 269
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