Bitcoin: The Insider Guide to Blockchain Technology, Cryptocurrency, and Mining Bitcoin by Richard Ozer

Bitcoin: The Insider Guide to Blockchain Technology, Cryptocurrency, and Mining Bitcoin by Richard Ozer

Author:Richard Ozer
Language: eng
Format: azw3
Published: 2017-07-19T07:00:00+00:00


We know that only 21 million Bitcoins will be released and by 2140 we expect all 21 million to be in circulation. Every year, the number of Bitcoin due for release is cut in half, slowing down this process immensely. Some say that a fixed supply currency is counterintuitive; after all, with fiat currency, if we need more we can get it printed, thus pushing more money into circulation.

The official Bitcoin website says, “Bitcoin is intended to inflate in its early years and become stable in its later years... With a stable monetary base and a stable economy, the value of the currency should remain the same.” Although there is the chance that a lower supply of currency will result in people hoarding it and thus causing deflation, this is not likely to happen to Bitcoin because we know that the supply is fixed.

Effective diversification



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