An Economic Analysis Of Crypto Currency Essay

An Economic Analysis Of Crypto Currency Essay

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An economic analysis of crypto currency
Introduction (1000 words)

Last year, I read the news and it said something about some guy who bought some kind of currency called “the bitcoin”. This person bought a very small amount of bitcoins, forgot about it, and then realised he had them 6 years later. His bitcoins weren ow worth almost one million dollars. I had never even heard of the bitcoin i did not know what it was, neither had I ever seen or used one. I did not even know how to use them. So I decided to do my dissertation about this very interesting topic. I really like technological things.

In recent years, crypto currency frequently appeared in the media. Crypto currency can be generally described as digital payment of which the possession and transfer are protected by cryptographic algorithms. The most cited example of crypto currency is called bitcoin. Especially at the end of 2013 the interest in bitcoin was great. During that period, the value of a bitcoin rose from about 100 EUR to over 800 EUR. Since the value of the bitcoin halved in 2014, the public’s interest for the bitcoin decreased. in July, investments in bitcoins (which had the initially very high profits ) became substantial losses. Bitcoin is thus reduced in this perception into a speculative investment.

The name “crypto currency” refers to how bitcoin crypto-currency fundamentally is conceived: as a new way to store and transfer value. Some proponents claim that the bitcoin can form a new foundation for the existing financial system. These proponents argue that the financial system represents a paradigm shift in which the existing currencies would have to take on one or more universal crypto currencies like bitcoin.

In this work these claims will be ...


... middle of paper ...


...unity in Orlando, Florida. Lastly, Maurer (2013) offers an anthropologic paper where the semantics of the Bitcoin as money that is not touchable are being discussed. He concludes that despite the lack of materiality, the Bitcoin offers a social and conventional function. (Maurer 2013). However the semantics of Bitcoin are well investigated, a direct discussion of the role of the community of Bitcoin lacks.

Overall, a clear image of what the Bitcoin community stands for, is very hard to sketch. This dissertation will go deeper into the anthropological analysis of Bitcoin.










Methodology (2000-2200)

Findings and discussion (3000-3500)

Conclusion and recommendations (800-1500)

Appendix

Figure 1

Source: bitcoincharts.com










Figure 2



Source: blockchain.info

Figure 3:

Source: coindesk.com

Figure 4:





















Source: coinatmradar.com

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