Questions about Bakkt

  1. Due to the limited supply of BTC. How will these services be able to offer physical led backed BTC funds without skyrocketing the price? This temporary moment of stability doesn’t seem to be able to last.

  2. Will Bakkt have their own inventory? Or will they buy when orders are placed?

  3. How would they acquire inventory? Large orders from exchanges?

  4. When would they accumulate inventory? They have to be testing this for the masses already?

  5. How will the market be able to track the current supply and how will that impact the price?

  6. I know this is a phase from becoming new technology but how will the market shake off the whales from natural growth so we can just let them cash out and move forward from here?

Thanks!

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

I explained bitcoin to a smart kid and he asked me some difficult questions

I was recently explaining bitcoin and blockchain to a kid – he’s a smart one and he asked me:

  1. Who is creating the mathematical tasks for the miner computers to solve?

  2. If they get more and more complex and difficult to solve, how are they being created in the first place? Are they already implemented in the code?

  3. If it’s possible to upgrade the bitcoin protocol to improve it, is it not also possible then to change the rules? For example to remove the limit that there will only be ever 21million mines bitcoins?

I couldn’t answer these questions- anyone?

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