the myths of crypto currency

the precise mathematical systems used to create crypto-currencies can be found in numerous places on the internet. Repeating them in detail here would make this article too cumbersome to digest.

The structure of the bitcoin ‘system’ limits the number of bitcoins that can ever exist to 21 million; so the imbalance between supply and demand becomes mind boggling as the beckoning horizon of ever rising value turns most bitcoin users into hysteria-buyers and hoarders, as more and more ‘investors’ scramble to acquire them. As the price of bitcoin continually rises, bitcoin demand is forced up against the finite total. This drives the…