Post
Topic
Board Economics
The Bitcoin economy needs about $100,000 a day of new money
by
Nagle
on 05/07/2011, 06:04:06 UTC
Bitcoin production is supposed to be about 7200 coins per day, which at $13.75/BTC is currently $99,000. So, right now, it takes about $100,000 a day in new money to keep the price of Bitcoins stable.

We just saw this on the 4th of July. No one was putting much new money into the markets, since it's a US bank holiday, and the price dropped from $15 to $13. The "weekend slump" has been mentioned previously. But it's not because people aren't trading - that's symmetrical. It's because they're not depositing new cash.

How long will the supply of suckers able to collectively put in $100,000 a day hold out?