Terminology

[7 Fingers]

This is a useful reference

[otov4its]

Good list to look at for new people! Thanks!

[maxiii]

mandem = gang terminology.

[You_Know]

Good info, thanks!

[smokecamel]

Thanks for the effort of summing it all up!

[takinbo]

Thanks for the post. In deed, though I've been using bitcoins for almost two years and even been lurking on these forums for about that long, I realise that my education wasn't complete until I read this thread. This should definitely be on every newbie's reading list.

[DavidBAL]

thanks

[bubblesort]

What does the term 'slippage' mean in this post?

I'm guessing it means transaction fees or time delay?

[yogi]

What does the term 'slippage' mean in this post?

I'm guessing it means transaction fees or time delay?

Hi bubblesort,

I have added the following to the list;

'Slippage'
The difference between expected price and the price actually paid. Slippage often results when large trades are executed in a market with poor liquidity.
(See - Wiki: Slippage)

Thank you,

[aorith]

Very useful list

[emorydunn]

That's a great list. I'm actually surprised by how much it clarified some stuff I didn't ow about economics in general, and not just Bitcoin.

[Bitsandbits]

Perfect..need to make a screenshot or something 

[mige]

tnx dude

[bubblesort]

What does the term 'slippage' mean in this post?

I'm guessing it means transaction fees or time delay?

Hi bubblesort,

I have added the following to the list;

'Slippage'
The difference between expected price and the price actually paid. Slippage often results when large trades are executed in a market with poor liquidity.
(See - Wiki: Slippage)

Thank you,

Thanks!

[0rganic]

Great thread.

[nivek03]

Thanks for that

[little-bit]

Nice list, very useful!

[ForSaleByBitcoin]

I think this is confusing:

definition of Deflation:

The opposite of inflation, deflation is defined as a sustained decrease in the general level of prices for goods and services. It is measured as an annual percentage decrease. Currencies which are subject to deflation, such as the bitcoin, are described as being deflationary. As deflation rises, every bitcoin you own buys a larger percentage of goods and service.


Bitcoin is inflationary.  The money supply is increasing every ten minutes.  What you are seeing in the price run-up is not deflation of the currency.  It is the value of the currency increasing.

At some later date, off in the distance, bitcoin's creation rate (block reward) will be cut to the point where people losing or permanently destroying Bitcoins will exceed the creation rate.  Only at that point will Bitcoin be deflationary.

[yogi]

Bitcoin is inflationary.  The money supply is increasing every ten minutes.  What you are seeing in the price run-up is not deflation of the currency.  It is the value of the currency increasing.

At some later date, off in the distance, bitcoin's creation rate (block reward) will be cut to the point where people losing or permanently destroying Bitcoins will exceed the creation rate.  Only at that point will Bitcoin be deflationary.

It's my understanding that deflation is a decline in the general price levels of goods and services, relative to a specific measure.  Although money supplied can affect deflation, it's not how it's measured.

[ForSaleByBitcoin]

Bitcoin is inflationary.  The money supply is increasing every ten minutes.  What you are seeing in the price run-up is not deflation of the currency.  It is the value of the currency increasing.

At some later date, off in the distance, bitcoin's creation rate (block reward) will be cut to the point where people losing or permanently destroying Bitcoins will exceed the creation rate.  Only at that point will Bitcoin be deflationary.

It's my understanding that deflation is a decline in the general price levels of goods and services, relative to a specific measure.  Although money supplied can affect deflation, it's not how it's measured.

But to say "Bitcoin is deflationary" doesn't make a lot of sense.  By your measure, there have been periods when Bitcoin has been deflationary, and there have been periods when Bitcoin has been inflationary, by your definition.  So if you are talking about past history, then the statement is at best only "sometimes right" (therefore wrong, as a blanket statement).

The fact is that there is a certain amount of inflation (of the money supply) designed into bitcoin (as shown here: https://bitcointalk.org/index.php?topic=130619.0 ).  Whether the "steady state" of Bitcoin is inflationary or deflationary is yet to be seen - as it isn't near 100% adoption, and isn't near 100% distributed.  Current money supply inflation is about 10%.  We could begin a 6-month inflationary period tomorrow - who knows!