Questions tagged [macroeconomics]
12 questions
19
votes
10 answers
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 slower and why?
I am interested in this, because…
David
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15
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6 answers
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 poor. How
does it attempt to solve deep rooted…
Sebastien
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6
votes
2 answers
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 algorithm distributed across a P2P network. What this…
user114618
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6
votes
2 answers
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 seems that wealth could then be preserved simply by…
Brian Fabian Crain
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6
votes
6 answers
How much energy will the Bitcoin network eventually consume?
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 the mark, it is undeniable that the network's…
Manish
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2
votes
2 answers
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?
user13977
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2
votes
1 answer
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?
Gaia
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1
vote
3 answers
How can loans work with bitcoin?
Before answering this question please go through this scenario
Let's assume that we have now become a bitcoin-only economy and nearly all bitcoins have been mined. Now, someone wants to do business and he needs bitcoin loan, which a lender will…
Manish Arora
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1
vote
2 answers
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 that it?
Now the thing is CPU-work doesn't come…
Montelieri
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1
vote
1 answer
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 currencies will be much lower than today's, if BTC…
Xoel
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1
vote
1 answer
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 according to a datafeed of Nominal GDP.…
sl0anage
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0
votes
2 answers
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 trend for 'All Time', it looks like the rate of growth in the number…
user114618
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