Austrian School Of Economics

The Austrian School is a heterodox school of economic thought that is based on methodological individualism—the concept that social phenomena result exclusively from the motivations and actions of individuals. The Austrian School originated in late-19th and early-20th century Vienna with the work of Carl Menger, Eugen Böhm von Bawerk, Friedrich von Wieser and others. It was methodologically opposed to the younger Historical School (based in Germany), in a dispute known as Methodenstreit, or methodology struggle. Current-day economists working in this tradition are located in many different countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian School are the subjective theory of value, marginalism in price theory and the formulation of the economic calculation problem, each of which has become an accepted part of mainstream economics. Since the mid-20th century, mainstream economists have been critical of the modern day Austrian School and consider its rejection of mathematical modelling, econometrics and macroeconomic analysis to be outside mainstream economics, or "heterodox". In the 1970s, the Austrian School attracted some renewed interest after Friedrich Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences.

Bitcoin Halving

The amount of bitcoins issued in each block reward is halved every 210,000 blocks (approximately every 4 years). The supply of bitcoin is finite; there will only ever be 21 million bitcoin in existence. In 2008, block rewards were set to issue 50 bitcoins; in November 2012 this amount became 25 bitcoins, and in July 2016 it became 12.5. Following this schedule, it is estimated that the last bitcoin will be mined in the year 2140, when the cap of 21 million bitcoins is reached.


An economic bubble or asset bubble (sometimes also referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, a speculative mania, or a balloon) is a situation in which asset prices appear to be based on implausible or inconsistent views about the future. It could also be described as trade in an asset at a price or price range that strongly exceeds the asset's intrinsic value.


See Also Market Capitalization


The change in blockchain is when the client generates a new Bitcoin address, and sends the difference back to this address. When the output of a transaction is used as the input of another transaction, it must be spent in its entirety. Sometimes the coin value of the output is higher than what the user wishes to pay. In this case, the client generates a new Bitcoin address, and sends the difference back to this address. This is known as change.


Coin is a cryptocurrency with its own blockchain, usually created by developers from scratch or by forking. You can also find the term “altcoin”, which implies an alternative coin, that is any coin that is not Bitcoin. Bitcoin is the best example of a coin. Bitcoin is not only the world's first cryptocurrency but also the world's first blockchain.

Coin Burn

Coin burn is a term meaning the intentional riddance of a certain number of cryptocurrency items to ensure its stable work, rate normalization or create a new cryptocurrency.

Coinbase (Mining)

The coinbase is the content of the 'input' of a generation transaction. While regular transactions use the 'inputs' section to refer to their parent transaction outputs, a generation transaction has no parent, and creates new coins from nothing. The coinbase can contain any arbitrary data.


A cryptocurrency, crypto currency or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority.


A currency is a national, foreign and international money, both in form cash (in the form of banknotes, treasury notes, coins) and non-cash (in bank accounts and bank deposits), which are the legal means of payment.