Bitcoins reach 10.5 million – triggers production to half

 

Bitcoins have always been something really interesting to me. A true e-currency. I monetary system removed from governmental control. The mysterious creation of the Bitcoin is an incredible feat of technology and social progress. With technology steering the the Bitcoin economy there is no longer a need for a centralized control the rules have long been established for the economy and the only veritable is demand. That’s not to say that there is not set backs but to be fair that had more to do with the lack of security on the distributes end. Much like a bank robbery rather then forgery.

Back to the news here. Bitcoins have produced over 10.5 million since their creation 4 years ago. Hardcoaded into this digital currency is a measure to stop inflation by reducing the number of Bitcoins created by half.

The sudden scarcity of new coins is likely to drive the value of Bitcoins up, as fewer new coins enter the system and current Bitcoin owners hoard their stashes. It’s also possible that the change will simply trigger a period of instability due to the sudden change in the money supply. -source

 

I have never been very interested in economics but Bitcoins have got my attention on the subject as of late. Getting to see a revolution in the hands of technology versus the often corrupt and slighting politics that surround money.

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Author: Phil Hoyt

Web Developer, WordPress Expert, Marketing Enthusiast

1 thought on “Bitcoins reach 10.5 million – triggers production to half”

  1. Bitcoin is very interesting, but a little scary at the same time. I have never been a fan of how banks work and what not, but bitcoin is like putting your financial stability into something like twitter. I will have to look into this a bit more. On a side now I am looking into this banking alternative with Simple https://www.simple.com/

    Like

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