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> When the demand for Bitcoin goes up, they need to print more to keep it from skyrocketing. To some degree, this already works. If the price of bitcoin gets h
by kazagistar 13y ago
> When the demand for Bitcoin goes up, they need to print more to keep it from skyrocketing.
To some degree, this already works. If the price of bitcoin gets high enough relative to the price of electricity and ASICs, then more bitcoins are mined, right?
- Zetaeta 13y agoThen the difficulty goes up. The network is designed to create an average of 6 blocks per hour, with a constant reward per block that halves every 4 years. https://en.bitcoin.it/wiki/Controlled_Currency_Supply https://en.bitcoin.it/wiki/Controlled_Currency_Supply
- maxerickson 13y agoIt is slowly racing ahead of the forecast though. The current block was projected for 2014: http://blockexplorer.com/q/getblockcount http://blockexplorer.com/q/getblockcount I guess that will slow down as ASIC hardware matures (or if there is a sustained price drop).