Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm
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Re: Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm
#2I have it on good authority that this article will be in the print edition in the morning.
Re: Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm
#3I have it on good authority that this article will be in the print edition in the morning.
Can be verified at the bottom of the article linked with the following text:
"A version of this article appeared in print on April 8, 2013, on page B3 of the New York edition with the headline: Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm."
Re: Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm
#4I have it on good authority that this article will be in the print edition in the morning.
Can be verified at the bottom of the article linked with the following text: "A version of this article appeared in print on April 8, 2013, on page B3 of the New York edition with the headline: Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm."
Buy! Buy! Buy!
Re: Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm
#5However awesome bitcoins are, I wonder how much longer till wallets can be securely stored online, and the technology is simplified to an extent that my barely computer-literate mother can understand bitcoins.
Re: Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm
#6However awesome bitcoins are, I wonder how much longer till wallets can be securely stored online, and the technology is simplified to an extent that my barely computer-literate mother can understand bitcoins.
Quite a long time to go, but that's ok. How quick did such a mother adopt credit-cards?
Re: Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm
#7I'd love to get an economist studying why the value of bitcoins goes up.
After all, they're infinitely reusable, totally fungible, and incredibly low friction. The only reason for their value to rise (rather than them just being passed around at the same price indefinitely) is if people expect them to rise, or if there's a shortage (forcing people to use fractions of a bitcoin to represent the same number of dollars as a whole one used to).
Is the cause largely the latter, or the former? Has there been a high enough rise in the transaction volume to explain the rise in value? Or is it all down to investors?
Re: Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm
#8So, what happens with the mining task after all the bitcoins have been introduced?
Re: Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm
#9So, what happens with the mining task after all the bitcoins have been introduced?
Mining is also used to register transactions. The miners gain from this by charging a small fee per transaction.
Re: Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm
#10So, what happens with the mining task after all the bitcoins have been introduced?
It follows an exponential decay curve, so we'll never mine the last bitcoin; rather, each year we mine half the ones that are left. (I'm not sure how the quantization works when we do get to the literal last one, but that's many decades away).