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Bitcoin: Economics, Technology, and Governance
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In this paper, the authors present the design principles and properties of Bitcoin for a non-technical audience, reviews its past, present and future uses, and points out risks and regulatory issues as Bitcoin interacts with the conventional financial system and real economy.Abstract:
Bitcoin is an online communication protocol that facilitates virtual currency including electronic payments. Since its inception in 2009 by an anonymous group of developers, Bitcoin has served tens of millions of transactions with total dollar value in the billions. Users have been drawn to Bitcoin for its decentralization, intentionally relying on no single server or set of servers to store transactions and also avoiding any single party that can ban certain participants or certain types of transactions. Bitcoin is of interest to economists in part for its potential to disrupt existing payment systems and perhaps monetary systems, and also for the wealth of data it provides about agents’ behavior and about the Bitcoin system itself. This article presents the platform’s design principles and properties for a non-technical audience, reviews its past, present and future uses, and points out risks and regulatory issues as Bitcoin interacts with the conventional financial system and the real economy.read more
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Are the informal economy and cryptocurrency substitutes or complements?
Rajeev K. Goel,Ummad Mazhar +1 more
TL;DR: In this paper , a new dimension of the effects of the underground sector by examining the spillovers on cryptocurrency holdings was considered, based on data from more than 50 nations, and it was shown that a greater prevalence of underground economy in a nation is indeed associated with greater cryptocurrency holdings.
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The Survey of Transferring Cryptocurrency Anonymization, Privacy, and Security
Ganeshan M,Vamsi K +1 more
TL;DR: In this paper, the authors discuss how to obtain Cryptocurrency anonymously and privately how to handle them in a secure and private manner and how to send and receive, how to transfer these currencies again in an anonymous and anonymous manner.
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Cryptocurrencies in the COVID-19 era
TL;DR: In this article , the authors describe the state of the financial market during and after the COVID-19 pandemic, and review the behaviour of bitcoin, with its dips and recoveries, which can occur in a matter of a few hours.
Posted Content
Trends, Tips, Tolls: A Longitudinal Study of Bitcoin Transaction Fees
Malte Möser,Rainer Böhme +1 more
TL;DR: In this paper, a historical analysis of agents' revealed behavior concerning their payment of transaction fees is presented, which can be largely explained by changes in the default client software or actions of big intermediaries in the ecosystem.
Journal ArticleDOI
Mean-Variance Tradeoff of Bitcoin Inverse Futures
TL;DR: In this article, the authors derive explicit representations for the expectation and variance of the returns on Bitcoin inverse futures and obtain their first-order approximations, with variance or volatility taken as the risk measure.
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