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Does anyone know if there's a good way to determine the fraction of bitcoin transaction that are food good and services rather than just other money?
It's called "bitcoin days destroyed", look it up.
Stack-exchange for others who want more info: http://bitcoin.stackexchange.com/questions/845/what-are-bitc...
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The thing that makes me apprehensive about Bitcoin is that the majority of people that are buying in are buying in as speculators (edit: the people I've seen discuss Bitcoin), they're buying in because they think in a year or so the coins will be worth $1,000 each and they'll get to cash out, reddit is full of people labelling themselves Bitcoin millionaires. There's a disincentive to spend Bitcoins at the moment whi…
A lot of merchants are giving 25% or more discounts when paying with bitcoin. That's a way to factor the appreciation of the currency into the price and encourage spending.
What happens when a government decides enough is enough and buys then dumps BTC? It wouldn't take much capital to cause a bank run type of inflation attack.
I find bitcoin fascinating, but everyone who's bullish on it should understand the fundamental issue with its price stability, as pointed out by libertarian GMU economist Tyler Cowen (among others, presumably): > It is a privately created fiat currency, bundled together with an anonymity scheme for transactions. The anonymity scheme means there is some reason to grant one-time seigniorage to the original currency iss…
You mean like the Euro "inflates away" the USD, and vice versa?
Your idea doesn't make any sense.