If 1800 Bitcoins are produced every day, shouldn't this bring down the cost of Bitcoins? Answering Your Questions

in bitcoin •  6 months ago

Yes. Whenever the supply of something increases, the value decreases.

The thing you need to keep in mind though is that supply is not the only force acting on the price.

Price is determined by supply and demand. The more that people want something, the higher its demand. If more people want something and the supply stays the same, the price will go up.

So yes, because 1800 Bitcoins are produced every day, if the demand stays the same, the price will go down. But if demand increases, the price might stay the same or even go higher.

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Is it to late to claim the bytecoins they offered steemit users?


I'm assuming you meant byteball's bytes? If so yes! I answer your question in more detail in this post. Be sure to share and resteem it because you will get half the rewards. Thanks for your question!