A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
What will the electricity consumption of seigniorage at high bitcoin price be?
Most of the price of new minted bitcoins comes in the form of electricity. This happens as people compete for the seigniorage on an open market, the result is that electricity is consumed proportional to the value (in fiat) of each minted block. (This is independent of how efficient the chips get) The annual BTC network energy cost is that of a small country. When the price of BTC reaches $20,000 I would naively assume the energy cost would rise to 10 small countries. Is that the case? How much electricity will be consumed by the Bitcoin network if the XBT price reaches $2m?
Companies using the bitcoin blockchain need a high Bitcoin price
Miners get a bigger reward (in fiat) when the price rises. So, when the blockchain is only used for the bitcoin currency, the higher the value of the transacted tokens, the more money will be invested in the security of the network (mining). However, when tokens (for example single satoshis) are used as tokens to record transactions of other valuable assets, the value of these tokens can be high, even when the Bitcoin price is low. Companies or organisations (let's say NASDAQ) using the bitcoin blockchain want the bitcoin price to be fairly high, so miners keep improving/maintaining the current security. When they start using the bitcoin blockchain now, they seem to trust this will be the case for the (near) future.
Zimbabwe have high Bitcoin prices - why don't they just buy from other exchanges?
This article says that hyperinflation has brought the price up to USD7000+ per BTC. I don't get it -- why do they buy from there instead of buying from any other exchange where the prices are lower? Why isn't everybody selling their BTC there to gain a huge profit? I think this really is a beginner question because pro's would have seen through my confusion in a heartbeat.
2017 Bull Market and All Time High. 2017 was a great year for Bitcoin price-wise, but the bullish price action went parabolic in the last few months of the year. Between November 1 and December 17, Bitcoin’s price skyrocketed from $6,600 to its All Time High of over $20,000 — a more than three times increase. Bitcoin price prediction: how much will bitcoin be worth in 2020? 2019 has been a relatively great year for Bitcoin and its major peers. However, by the end of September the cryptomarket has made a U-turn within a 24-hour period. Bitcoin (BTC) has collapsed under $9,000, losing more than 15% in an hour during a mysterious rapid market crash. Bitcoin’s price has risen stratospherically, a fact that leaves many minor players in the market with massive gains and many bigger players millionaires. The Bitcoin price all time high will depend on which exchange you reference. Bitfinex is the largest Bitcoin exchange, so it's all time high of $19,891.00 per bitcoin is the most referenced all time high. So Bitcoin Never Hit $20,000? Nope! Despite most people saying "I wish I sold my bitcoins at $20k!", the actual highest price was just a tad Bitcoin prices have experienced some notable gains lately, breaking through $10,000 yesterday and then continuing to rally. As a result of this bullish movement, bitcoin reached $10,947.76 this
BITCOIN HASHRATE HITS A HIGH - BTC PRICE WILL FOLLOW SAYS ...
Bitcoin Halving of 2020 - The Epic Anniversary LIVE Stream Tone Vays 4,580 watching Live now Bitcoin Halving 2020: History & Price Prediction (A Simple Explanation) - Duration: 12:33. Tim Draper predicts Bitcoin hitting $250,000 by 2022 might be "conservative"? An all-time high for Bitcoin hashrate! We hear from 3 Start-ups in the 45 Second Challenge. #BitcoinPrice # ... BITCOIN HASHRATE HITS A HIGH - BTC PRICE WILL FOLLOW SAYS MAX KEISER 7 Crypto’s Making Huge Moves - Duration: 23:11. Crypto News Alerts 1,653 views. New; 23:11. With the high accuracy of the model, should Bitcoin’s hash rate remain this high or continue to grow, the BTC price will eventually follow. In other trending Bitcoin News today: Bitcoin The Price Is RIGHT! June 2020 Price Prediction & News Analysis - Duration: 38:19. Krown's Crypto Cave 8,287 views. 38:19. Bitcoin WHEN REFUND SIR?!