“The fundamental scam of modernity is the idea that government needs to manage the money supply.” — Saifedean Ammous

…every attempt to manage the money supply has ended with economic disaster. Money supply management is the problem masquerading as its solution; the triumph of emotional hope over hard headed reason; the root of all political free lunches sold to gullible voters.

submitted by /u/DelfinGuy
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Bitcoin – The Currency of the Internet

Hi r/Bitcoin. I’m Emiliano Pagnotta, Assistant Professor of Finance at Imperial College Business School. I just published a research paper on the fundamental value and the price of Bitcoin (see link). I’m holding an AMA on the topic here on Mon 16 April at 11am ET

submitted by /u/esp-research
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Bitcoin – The Currency of the Internet

Basic and fundamental questions

  1. What does the blockchain represent? Is it the current balance of each account or is it the complete ledger?
  2. Does every transaction reach every miner?
  3. Is there a central server of Blockchain at all that keeps track of the new miners that get added?
  4. When a transaction is made between two people, how does the blockchain/bitcoin software know which peer to send it to?
  5. Do the messages exchanged on the network grow in size over time as more transactions are added? I would imagine, the chain gets bigger with every new transaction.
  6. Is it possible to reconstruct the transactions of a block that was made in the past?
  7. How does a miner know when he should start the computation of the blocks to win the competition?

Recent Questions – Bitcoin Stack Exchange