Adam Ludwin co-founded Chain.com, a bitcoin developer platform. Prior to Chain, Adam was a venture investor in companies including Vine, Slack, Kik and Paperless Post. He holds a B.S. from UC Berkeley and an MBA from Harvard.
Here’s one way of looking at the bitcoin market:
- Miners mint new bitcoins
- Speculators buy/sell them
- The price of bitcoin is affected
- Miners with a marginal cost lower than the price of bitcoin keep mining
Here’s a visual representation of that story:
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