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V for Varoufakis (OP)
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February 08, 2015, 12:16:03 PM |
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The total number of bitcoins must be: M = (PQ) / V
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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countryfree
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Activity: 3052
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Your country may be your worst enemy
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February 08, 2015, 07:07:51 PM |
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Let's get real, the total number of BTC as of today is about 13,7 millions.
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I used to be a citizen and a taxpayer. Those days are long gone.
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rollingMyCar
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Activity: 112
Merit: 10
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February 09, 2015, 01:42:10 PM |
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The total number of bitcoins must be: M = (PQ) / V
hi V for Varoufakis. I think if you can explain better the formula, you will be helped better!!! |
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galdur
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February 09, 2015, 01:47:28 PM |
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According to the Book of Knowledge it´s an equation of exchange
M is the total nominal amount of money supply in circulation on average in an economy.
V is the velocity of money, that is the average frequency with which a unit of money is spent.
P is the price level.
Q is an index of real expenditures (on newly produced goods and services).
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manselr
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Merit: 1004
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February 09, 2015, 04:46:05 PM |
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Which means by 2025 price should be insanely high otherwise miners will have the shittiest incentive to keep mining. |
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zlatanBorec
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Activity: 112
Merit: 10
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February 09, 2015, 06:25:13 PM |
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According to the Book of Knowledge it´s an equation of exchange
M is the total nominal amount of money supply in circulation on average in an economy.
V is the velocity of money, that is the average frequency with which a unit of money is spent.
P is the price level.
Q is an index of real expenditures (on newly produced goods and services).
i think this equation it is realy variable... P it is associate to the high bitcoin volatility Q it is really hard to quantify!!! so, it is very hard to get some "understandable" result from it... IMAHO.... |
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oblivi
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February 09, 2015, 07:01:30 PM |
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The total number of bitcoins is hardcoded and cannot be changed, i dont know what you are exaclty about. Do you want to propose a new number of total coins or you just want to calculate it?
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galdur
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February 09, 2015, 07:39:04 PM |
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According to the Book of Knowledge it´s an equation of exchange
M is the total nominal amount of money supply in circulation on average in an economy.
V is the velocity of money, that is the average frequency with which a unit of money is spent.
P is the price level.
Q is an index of real expenditures (on newly produced goods and services).
i think this equation it is realy variable... P it is associate to the high bitcoin volatility Q it is really hard to quantify!!! so, it is very hard to get some "understandable" result from it... IMAHO.... It´s a macroeconomic concept. And M (fiat money) can increase ad infinitum but bitcoin can´t. |
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zlatanBorec
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Activity: 112
Merit: 10
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February 09, 2015, 08:03:33 PM |
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According to the Book of Knowledge it´s an equation of exchange
M is the total nominal amount of money supply in circulation on average in an economy.
V is the velocity of money, that is the average frequency with which a unit of money is spent.
P is the price level.
Q is an index of real expenditures (on newly produced goods and services).
i think this equation it is realy variable... P it is associate to the high bitcoin volatility Q it is really hard to quantify!!! so, it is very hard to get some "understandable" result from it... IMAHO.... this is true!!! now i understand better!!! thanx!!! |
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D05GTO
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February 09, 2015, 08:16:38 PM |
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I think M = Deflationary with bitcoin. Heck, I've lost a btc myself.. darn you complex password!!! So it'll be M-dumbass's like me. LOL
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bugmenot
Full Member
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Activity: 126
Merit: 100
No Justice No Peace
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February 09, 2015, 08:18:19 PM |
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Let's talk about truth!! No. of bitcoins are 130 Millions..
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I AM DONE
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pereira4
Legendary
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Activity: 1610
Merit: 1183
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February 09, 2015, 10:41:45 PM |
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Let's talk about truth!! No. of bitcoins are 130 Millions..
Mmm, what are we talking about here? total amount of bitcoins is 21 million this is basic.. |
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Abbey_j
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February 10, 2015, 02:25:30 AM |
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The total number of bitcoins must be: M = (PQ) / V
How do you get the "V", Check the Blockchain? But there are some off-chain transaction been made everyday. |
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odolvlobo
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Merit: 3200
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February 10, 2015, 02:28:30 AM |
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It would probably be better to write it like this since M is "fixed":
P = MV/Q
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Join an anti-signature campaign: Click ignore on the members of signature campaigns.
PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
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deepestfear
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February 10, 2015, 05:35:02 AM |
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13.82m mined as on date, we will be over 75% mined by the next halving. We are at around 65% of max supply right now
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unsoindovo
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https://locktrip.com/?refId=40964
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February 10, 2015, 09:29:25 AM |
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Let's talk about truth!! No. of bitcoins are 130 Millions..
Mmm, what are we talking about here? total amount of bitcoins is 21 million this is basic.. this is correct!!! same link.... https://en.bitcoin.it/wiki/Controlled_supply |
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