28 Nov '12, 3pm

The Verge is running a bunch of great articles this week, including one on Bitcoin:

The Verge is running a bunch of great articles this week, including one on Bitcoin:

The total number of Bitcoins in circulation just hit 10.5 million, triggering a safeguard against inflation that was hardcoded into the digital currency. This means a drastic change in the number of new Bitcoins being created, which is expected to have a huge impact on the economy that has been developing around the ecurrency. The safeguard has to do with the "block reward," the number of Bitcoins that can be created at a time, which has dropped from 50 to 25. Bitcoin miners, geeks who configure their own computers to mint the cultish digital currency, have been waiting for this moment for a long time — about four years, which is how long Bitcoins have been in circulation. The sudden scarcity of new coins is likely to drive the value of Bitcoins up The sudden scarcity of new coins is likely to drive the value of Bitcoins up, as fewer new coins enter the system and current ...

Full article: http://www.theverge.com/2012/11/28/3701434/total-number-o...

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