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Bitcoin and other cryptocurrencies are demanded by those who wish to use them to complete transactions or those who wish to speculate on their future

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Bitcoin and other cryptocurrencies are demanded by those who wish to use them to complete transactions or those who wish to speculate on their future value. Bitcoins are supplied by thousands of competing miners who harness computing power to "dig" for Bitcoins by solving math problems. The more Bitcoins mined, the more difficult the math problems become. a. Using the diagram below, show how an increase in computing power speed affects the supply of Bitcoins, all else equal. Market for Bitcoins Supply Price of Bitcoins ($/bitcoin) Demand Quantity of Bitcoins

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