Although the long term application of bitcoin are still being determined, this technology is presenting a new economy, one where the constituents are bound only by mathematical enforcement of law. For this reason, the bitcoin digital economy may become a global reserve instrument which promises for massive innovation in the way we share information.
INELASTIC SUPPLY MAY REDUCE BUSINESS CYCLES
The supply issuance of new currency units is governed by a mathematical algorithm rather than central bank monetary policy. No change in demand has an effect of the rate of this issuance, and therefore, makes the supply function of bitcoin highly inelastic. Fluctuations in demand have no effect on the supply schedule of bitcoin, instead willingness to pay is represented by subjective market denominations.
This mining difficulty algorithm is capable of self-adjusting to changes in the competition among network pools. Every 2016 blocks, this difficulty parameter is re-targeted to coincide with a 10 minute average blocktime.
Bitcoin Supply Schedule
- Total Bitcoin
- Total Bitcoin
Austrian Economics Business Cycle
Austrian school of economic thought holds that the bust of a business cycle is inevitable, what should be avoided instead is an artificial and sometimes misleading boom in the market. Injustice for representing the health of the economy can often be attributed to “easy money”. One of the major factors of facilitating a boom is credit expansion.
Opportunity for credit expansion in bitcoin is limited by a diminishing supply schedule and hard cap on total money supply.
INTERDEPENDENT (RATHER THAN DEPENDANT) MARKET PARTICIPANTS
Bitcoin has the potential to make economic players less dependent upon adjacent participants. When users are less dependent on every other participant in the system, productivity flourishes. If private property empowers individuals, it follows that so too do private transactions.
As long as one party does not control the entire network, users remain largely independent and in control of their own economic livelihood.
Personalized Instruction. Throughout the course, students have access to course instructors and a dedicated discussion forum to ask questions and present answers.
High-quality presentations & written tutorials. Course lessons are based on video presentations and written tutorials, allowing multiple perspectives on important concepts and practices. All content is capable of being accessed responsively on tablet and mobile devices.
Test Your Knowledge With Timed Examination. Each module of the Bitcoin Economics Course is accompanied by a timed examination. At the end of the course, students are required to pass a final examination in order to be accredited and issued a certification of completion.
Earn Your Bitcoin Economics Accreditation. After completion of the course, students with a passing grade will be granted their certificate of accreditation. This certification serves as evidence of your cryptocurrency industry acumen.
Travis Patron is a political economist and digital money researcher best known for his research into the internet payment system bitcoin and cryptographic techniques for individual sovereignty – which, as he states, will completely change the nature of government regulation, taxation, and business interaction on a global basis.
Patron has written industry-leading research on the opportunities and implications which come from cryptocurrency such as his recently published book The Bitcoin Revolution: An Internet of Money which has been one of the most positively-received publications in the cryptocurrency space, garnering 5,000+ downloads to date as an educational and open-sourced research compilation. His work has been referenced by bluechip companies in the financial and IT sector such as Microsoft, IBM, and Monero for their business applications.
In all of these positions, the common denominator has been serving as someone who is able to explain in simple terms, the most cutting-edge developments in internet-enabling socio-economic collaboration.
|Module 1||Bitcoin Basics|
|Unit 1||Introduction To Bitcoin|
|Unit 2||The Blockchain & Proof-of-Work|
|Unit 3||The Bitcoin Transaction Visualized|
|Unit 4||Public Key Cryptography & Cryptocurrency|
|Unit 5||Storing Bitcoin Securely|
|Unit 6||Bitcoin Basics Quiz|
|Module 2||Economic Fundamentals|
|Unit 1||Bitcoin vs Gold|
|Unit 2||Supply Curve Inelasticity of Bitcoin|
|Unit 3||Antifragile Market Demand of Bitcoin|
|Unit 4||Money As Information Technology|
|Unit 5||Banking the Unbanked With Cryptocurrency|
|Unit 6||Economics Fundamentals Quiz|
|Module 3||Political Analysis|
|Unit 1||Evolution of the Corporation|
|Unit 2||Algorithmic Regulation of Money Supply|
|Unit 3||Denationalization of Money|
|Unit 4||Taxation of Cryptocurrency|
|Unit 5||Bitcoin As a Global Reserve Instrument|
|Unit 6||Political Analysis Quiz|
|Module 4||Final Exam|
|Unit 1||Final Exam|