The massive price bubbles of decentralized cryptocurrencies, such as Bitcoin, have created a puzzle for economists. How … pricing. In a controlled laboratory experiment, we observe that the formation of price bubbles can be causally attributed to … mining. Moreover, bubbles are more pronounced if the mining capacity is centralized to a small group of individuals. Analysis …

market. This is designed to model high concentration in cryptocurrency mining. In theabsence of mining, no bubbles or crashes … whether pricing is influenced by costly mining, as well as entry barriers tothe mining technology. Our mining design resembles … the proof-of-work mechanism employed by the vast majority of permissionless cryptocurrencies, such as Bitcoin. In our …

The massive price bubbles of decentralized cryptocurrencies, such as Bitcoin, have created a puzzle for economists. How … pricing. In a controlled laboratory experiment, we observe that the formation of price bubbles can be causally attributed to … mining. Moreover, bubbles are more pronounced if the mining capacity is centralized to a small group of individuals. Analysis …

In this study, a mathematical model of proof-of-work cryptocurrency valuation is developed based on the concepts of … simultaneous equilibria in two mining games, the purchasing power parity in the system of equations of exchange and the network … process payments. The model lays the foundation for rigorous long-term proof-of-work cryptocurrency valuation superior to …

. This study uses VAR-OLS techniques to investigate the time-varying correlation between Bitcoin and three major European … robustness of our results, we also test the impact of government measures on Bitcoin and stock market indices and find that they … correlations between Bitcoin returns and the stock market, oil, and gold index returns, which have so far been unaddressed. …

This paper deals with cryptocurrency bubbles. First, it points out that a number of recent papers on cryptocurrency … presence of cryptocurrency bubbles or the fundamental value of cryptocurrencies is needless. Second, the paper conducts a short … bubbles are awed due to an insufficient consideration of the fundamental value of cryptocurrencies. As even fiat money is said …

This paper deals with cryptocurrency bubbles. First, it points out that a number of recent papers on cryptocurrency … presence of cryptocurrency bubbles or the fundamental value of cryptocurrencies is needless. Second, the paper conducts a short … bubbles are awed due to an insufficient consideration of the fundamental value of cryptocurrencies. As even fiat money is said …

The 2017 bubble on the cryptocurrency market recalls our memory in the dot-com bubble, during which hard … impact of investor sentiment on cryptocurrency returns is conditional on bubble regimes …

This study investigates speculative bubbles in the cryptocurrency market and factors affecting bubbles during the COVID …-19 pandemic. Our results indicate that each cryptocurrency covered in the study presented bubbles. Moreover, we found … was evident among investors; however, this diminishes during bubbles, indicating that bubbles are not explained by herd …

social media and emerging trading applications on interactions among equity and cryptocurrency markets, and their potentially …