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to the study of Bitcoin and Ether, two of the most famous cryptocurrencies. Our bubble detection methodology combines the … and BSADF*). We find that, during the sample period 1st December 2016-16th January 2018, Bitcoin shows strong bubble …
Persistent link: https://www.econbiz.de/10012931458
Metcalfe’s law for Bitcoin is questionable. According to the bidirectional causality between the price and the network size …, the expected price increase is a driver for more investors to join the Bitcoin network, which may lead in the end to a … super-exponential price growth, possibly due to a herding behaviour of investors. The authors then used LPPL models to …
Persistent link: https://www.econbiz.de/10012007412
Metcalfe's law for Bitcoin is questionable. As the results showed a potential for herding behaviour, the authors then used LPPL …
Persistent link: https://www.econbiz.de/10011976108
results show that both terrorist incidents and brutality may explain Bitcoin price, but their effects are slightly different …. Compared to terrorist brutality, terrorist incidents have a weaker impact on Bitcoin price, showing that Bitcoin investors are … more concerned about the number of deaths than the frequency of terrorist attacks. In turn, the impact of Bitcoin price on …
Persistent link: https://www.econbiz.de/10014288982
The prospect of central banks issuing digital currency (CBDC) immediately raises the question of how this new form of money should co-exist and interact with existing forms of money. This paper evaluates three different scenarios for the implementation of CBDC in terms of their monetary policy...
Persistent link: https://www.econbiz.de/10012954346
introduction of the blockchain concept by the founder of Bitcoin in 2008. An important element of these public ledger platforms is …
Persistent link: https://www.econbiz.de/10013055525
We develop a new framework to examine the effects of retail central bank digital currencies (CBDCs) on financial inclusion and stability, particularly how the results depend on an economy's existing degree of financial development. We demonstrate that when offering CBDCs in underdeveloped...
Persistent link: https://www.econbiz.de/10013294560
real hashrate. We provide a quantitative analysis of the R&D investment of mining hardware manufacturers. We show that, in … total miners reward (i.e. the bitcoin price) …We propose a homogenous setting for analyzing the production industry of Bitcoin. Miners are assumed to be well …
Persistent link: https://www.econbiz.de/10013215263
Persistent link: https://www.econbiz.de/10013173518
Cryptocurrencies are often thought to operate out of the reach of national regulation, but in fact their valuations, transaction volumes and user bases react substantially to news about regulatory actions. The impact depends on the specific regulatory category to which the news relates: events...
Persistent link: https://www.econbiz.de/10012205633