This paper develops a microeconomic model of bitcoin production to analyze the economic effects of the Bitcoin protocol …. I view the bitcoin as a tradable commodity that is produced by miners and whose supply is managed by the protocol. The … findings show that bitcoin's volatile price path and inefficiency are related, and that both are a consequence of the protocol …

We examine the significance of fourty-one potential covariates of bitcoin returns for the period 2010-2018 (2872 daily … uncertainty and stock market volatility are among the most important variables for bitcoin. We also trace strong evidence of … bubbly bitcoin behavior in the 2017-2018 period. …

finally discuss feasible mechanisms to regulate them. Latest estimates show that Bitcoin mining consumes roughly the same … externalities are Bitcoin’s electricity-intensive consensus protocol and Bitcoin prices, which directly influence mining incentives … cryptocurrency prices are directly linked to mining incentives. Instead of regulating the miners i.e. the supply side of the market …

acting on them. We implement the first experiment that is able to address a potential causal relationship between self …

acting on them. We implement the first experiment that is able to address a potential causal relationship between self …

capacity to override or inhibit undesired impulses that may drive prices. We implement the first experiment to address the …

characterize the cryptocurrency kernels, evaluate the otherwise unobservable benefits, and show their contribution to pricing. The … model explains both the co-existence of the two currencies and the high volatility of the cryptocurrency price. …

This paper investigates the role of the frequency of price overreactions in the cryptocurrency market in the case of … BitCoin over the period 2013-2018. Specifically, it uses a static approach to detect overreactions and then carries out … Bitcoin price movements (H1) and (ii) exhibits seasonality (H2). On the whole, the results suggest that it can provide useful …