Bitcoin as an example of cryptocurrency - current state and perspectives

• Autorzy: Seweryn Gajdek
• Języki publikacji: EN

Abstrakty

EN

The idea of anonymous digital money existing outside of traditional banking system lasts at least 40 years. It appeared as soon as technological solutions, which such a system requires, became available. The article analyses the genesis of the crypto-currencies and technological solutions implemented into the Bitcoin digital currency. The article shows current state of the Bitcoin market and changes in its price, market capitalisation and number of transactions during last decade of operations of the crypto-currency market. Although there are difficulties in using Bitcoins, which include technical background and resulting from the high volatility of prices of this currency, the continuing upward trend of the Bitcoin price and the average daily number of transactions shows that interest in this currency is growing. Bitcoin features that attract new users are a large dose of anonymity, security of funds guaranteed by the extremely high computing power of the Bitcoin network, the speed of transactions and their low cost associated with the exclusion of a financial intermediary. The features of this money and data from the market allow to expect that Bitcoin will gain more individual and institutional users.(original abstract)

Słowa kluczowe

EN

Bitcoin; Cryptocurrencies; High-tech; Electronic payment instruments

PL

Bitcoin; Kryptowaluty; Nowe technologie; Elektroniczne instrumenty płatnicze

• Czasopismo: Annals of Marketing Management & Economics
• Rocznik: 2018
• Tom: 4
• Numer: nr 2
• Strony: 47--56

Twórcy

autor

Seweryn Gajdek

• Warsaw University of Life Sciences - SGGW, Poland

Bibliografia

• Antonopoulos A.M., 2016. The Internet of Money, Merkle Bloom LLC.
• Antonopoulos A.M., 2018. Bitcoin dla zaawansowanych (Mastering Bitcoin) [in Polish], Helion, Gliwice.
• Back A., 2002. Hashcash - A Deniall of Service Counter-Measure, retrieved from: http://www. hashcash.org/papers/hashcash.pdf [accessed: 04.11.2018].
• Bala S, Kopyściański T., Srokosz W., 2016. Kryptowaluty jako elektroniczne instrumenty płatnicze bez emitenta - Aspekty informatyczne, ekonomiczne i prawne (Cryptocurrencies as electronic payment instruments without issuer - computer, economic and legal aspects) [in Polish], Wydawnictwo Uniwersytetu Wrocławskiego, Wrocław.
• Chaum D., 1982. Blind Signatures for Untraceable Payments, (in:) D. Chaum , R.L. Rivest, A.T. Sherman (eds) Advances in Cryptology: Proceedings of Crypto '82.
• DAI W., 1998. B-money, retrieved from: http://www.weidai.com/bmoney.txt [accessed: 27.10.2018].
• DeMartino I., 2016. The Bitcoin guidebook - How to obtain, invest, and spend the world's first decentralized cryptocurrency", Skyhorse Publishing, New York.
• Frankow M., Kopyściański T., 2016. Analiza perspektyw rozwoju Bitcoina w kontekście możliwości pełnienia funkcji pieniądza (Bitcoin-analysis in terms of its ability to perform functions of money) [in Polish], Zeszyty Naukowe Wyższej Szkoły Bankowej we Wrocławiu 16, 2.
• Grzybkowski M., Bentyn Sz., 2018. Kryptowaluty (Cryptocurrencies), [in Polish] Cryptologic Sp. z o.o., Poznań.
• Homa D., 2015. Sekrety Bitcoina i innych kryptowalut (Secrets of Bitcoin and other cryptocurrencies) [in Polish], Helion, Gliwice.
• Hughes E., 1993. A Cypherpunk's Manifesto, retrieved from: https://www.activism.net/cypherpunk/ manifesto.html [accessed: 29.10.2018].
• Nakamoto S, 2008. Bitcoin: A Peer-to-Peer Electronic Cash System, retrieved from: https://bitcoin. org/bitcoin.pdf [accessed: 18.09.2018].
• Piotrowska A.I., 2018. Bitcoin - Płatnicze i inwestycyjne zastosowania kryptowaluty (Bitcoin Payment and investment applications of cryptocurrencies) [in Polish], CeDeWu, Warsaw.
• Szabo N., 2005. Bit Gold, Satoshi Nakamoto Institute, retrieved from: https://nakamotoinstitute. org/bit-gold/ [accessed: 29.10.2018].
• Vigna P., Casey M. J., 2016. The age of cryptocurrency - How Bitcoin and the blockchain are challenging the global economic order, Picador, New York.
• Wiśniewska A., 2015. Bitcoin jako waluta wirtualna (Bitcoin as a virtual currency), Institute of Economic Research Working Papers 155.
• WWW 1. Cryptocurrency statistics, retrieved from: https://bitinfocharts.com/ [accessed: 31.10.2018].
• WWW 2. Top 100 Cryptocurrencies by Market Capitalization, retrieved from: https://coinmarketcap. com/ [accessed: 31.10.2018].
• WWW 3. Bitcoin Historical Price & Events, retrieved from: https://99bitcoins.com/price-chart-history/ https://99bitcoins.com/price-chart-history/ [accessed: 07.11.2018]

Identyfikatory

DOI

DOI 10.22630/AMME.2018.4.2.16