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electronic payments can hardly avoid disputes that arise through such mediation. In order to have a decentralized currency which … digital currency, was introduced by a pseudonymous software developer, Satoshi Nakamoto, in 2009. This paper aims to analyse … virtual currency. However, the grey areas of such implementation arise out of the novelties of its own creation, whether it is …
Persistent link: https://www.econbiz.de/10013005611
Bitcoin is a distributed system. The greatest dilemma it poses to the current legal and regulatory systems is that it is hardly possible to regulate a distributed network in a centralized fashion as decentralized permissionless blockchain-based cryptocurrencies are antithetical to the existing...
Persistent link: https://www.econbiz.de/10012849751
At the end of 2017, the Bitcoin price dropped significantly by around 70% over two months. Since the introduction of Bitcoin futures coincided with this market crash, the new financial instrument might have caused the market crash, the literature emphasizing that the futures enabled investors to...
Persistent link: https://www.econbiz.de/10012850530
We examine how investors arbitrage the Bitcoin spot and futures markets. Using intraday data of the Chicago Board Options Exchange (CBOE), we reconstruct the actual arbitrage condition that investors confront. We find that there are few arbitrage profit opportunities in “normal” markets, but...
Persistent link: https://www.econbiz.de/10012851918
The growth of cryptocurrencies has been met with a variety of regulatory and legislative responses across national jurisdictions, with some signalling approval of the general transactional and functional aspects of cryptocurrencies, while other responding with legislative prohibitions or...
Persistent link: https://www.econbiz.de/10012853708
Bitcoin replicates many of the formal aspects of real estate transactions. Bitcoin transactions have features that closely resemble grantor names, grantee names, legal descriptions, and signatures found in real property deeds. While these “Bitcoin deeds” may be interesting, they are not...
Persistent link: https://www.econbiz.de/10012858925
A number of internet-based digital currency platform based on decentralized public ledgers have started since the …
Persistent link: https://www.econbiz.de/10013055525
This paper proposes a self-governing cryptocurrency, dubbed Autonocoin. Cryptocurrency owners play formal tacit coordination games by making investments recorded on the block chain. Such investments represent bets about the focal point resolution of normative issues, such as whether a proposed...
Persistent link: https://www.econbiz.de/10013027057
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