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Alternative title:

What is Bitcoin?

Subject and Keywords:

theory of money   private fiat money   bitcoin

Description:

Od 2013 pt.: Ekonomia - Wroclaw Economic Review

Abstract:

The aim of this paper is to answer the question of what — from an economic point of view — isBitcoin. For this purpose, we make a literature review, discussing different views on the subject.Using the typology of money developed by Mises, we fi nd that Bitcoin is a private fi at money, without, however, disproving the regression theorem. Based on the analysis, we conclude that the gold,which is a commodity money, would be a better candidate to serve as a global medium of exchangein a free market. Thus, we see the future of Bitcoin in payment system allowing to make low-cost,relatively anonymous and secure transactions, especially the foreign ones

Place of publishing:

Wrocław

Publisher:

Wydawnictwo Uniwersytetu Wrocławskiego

Date issued:

2013

Date copyrighted:

2013

Identifier:

ISSN 2084-4093

Language:

pol   eng

Relation:

Acta Universitatis Wratislaviensis, ISSN 0239-6661 ; no 3586. Ekonomia, ISSN 2084-4093 ; 19/4, s. 31-51

Rights holder:

Copyright by Wydawnictwo Uniwersytetu Wrocławskiego Sp. z o.o.

Autor opisu:

WR U/PAdjm