This week’s discussion (Discussion 2) is on the market for Bitcoin — a "digital" or "crypto" currency. I bought a Bitcoin from an SIU student in year 2013, for about $100, and now it’s worth tons more. The thriving marketplace for Bitcoin (and other cyrptocurrencies) didn’t exist when you were born, and is a great example of Markets, Supply, and Demand. Here are some hints on the Discussion 2 questions:
Discussion 2, Question 2: The total "supply" of Bitcoin is the quantity of Bitcoins that exist today, you can find this "Total Supply" on the right side of the website linked to in Discussion 2.
Discussion 2, Question 3: This question requires you to know that the effect of an "increase in supply" does to the market price in a competitive marketplace. To figure out what this is supposed to mean, make sure to read the relevant part of Markets, Supply and Demand notes (watching the video helps too, remember to wear headphones for sound quality).
Discussion 2, Question 4: This question requires you to know the principle of "competitive equilibrium" is. Like for Question 3, make sure to master the Markets, Supply and Demand material. If any part of the material is confusing just let me know
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