These charts show the monetary (supply) inflation of Bitcoin. They bear no relation to price inflation, which is an entirely distinct phenomenon. When Austrian economists say "inflation," they're typically referring to monetary inflation, whereas Keynesian economists are typically referring to price inflation. Also, please note that the top axis ("Year") on these charts is approximate, based on the scheduled block generation rate of one block per 10 minutes. The actual block generation rate has averaged a bit faster than this, due to the perpetually increasing hash rate, so we're already a little bit further progressed than the labels along the top axis would suggest. This doesn't mean there will be any more than 21M bitcoins; it only means that we'll reach the end...
Bitcoin is more like a decentralized pyramid scheme, there is no single person at the top but those who mined tens of thousands for almost free in the beginning are selling useless numbers to latecomers, who in turn try to sell to even later users and so on. Is it right? Many crypto startups do far more work than other investments. for instance, let's say I make a new toilet paper holder. I get 10 million on investments. I say it's gonna be huge! But then, I use the money to buy a ferarri and mansion and other frivolous shit. So, what do I have to show that the investments weren't just a scam? well a "good faith" effort to...
“If you’d like to see me in Congress fighting to keep Bitcoin innovation here in the USA, donate to my campaign. I’m running a grassroots movement. Each Satoshi can make a difference.” Bitcoin and other crypto donations to political campaigns have been banned in California since 2018. Essentially, concerns surrounding grants being utilized to circumvent contribution limits and prohibitions were one of the main reasons the ban was implemented. Alongside, foreign entities contributing to campaigns was another facet of apprehension that was highlighted back then. However, a few months back, a state regulator—the Fair Political Practices Commission—had scheduled a discussion to consider drafting amendments to the same. And now, in the latest development, the Commission voted on Thursday to approve new rules, green-lighting...
With many parts of Texas enduring days of temperatures well over 100 degrees Fahrenheit in July, many crypto miners have shuttered operations in anticipation of the state’s energy grid being unable to meet demand. Many crypto miners in the Lone Star State have announced they have already scaled back or shut down operations in anticipation of demand Texas’ energy grid may not be prepared to handle. "I moved all of my mining equipment out of the house so it is no longer dependent on the cooling of my home. I put everything in the garage and adjusted core/mem to run efficient and within spec. So far, I have reached the hottest parts of the summer with no issues. I am...
Maybe your local gas station now has a sticker on the front door. Buy Bitcoin here! Has anyone used or seen anyone using these machines yet? You must know how these work. I'm guessing there has to be fees. I'm seeing the business that controls these is called coinsource. In fact,We have one of those coinflip crypto atms in the store I work at. Little old lady comes in talking on the phone, is trying to figure out how to work it. So I go over to help. I'm already concerned because the elderly don't normally do crypto stuff. So I ask her what she's trying to do, and if she needs help. She tells me the guy on the phone is...
