دانلود مقاله ISI انگلیسی شماره 137853
ترجمه فارسی عنوان مقاله

بیت کوین: متوسط ​​مبادلات یا دارایی های احتمالی؟

عنوان انگلیسی
Bitcoin: Medium of exchange or speculative assets?
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
137853 2017 34 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of International Financial Markets, Institutions and Money, Available online 21 December 2017

ترجمه کلمات کلیدی
بیت کوین، ارز دیجیتال، ارز دیگر وسیله مبادله، کلاس دارایی، پناهگاه امن،
کلمات کلیدی انگلیسی
Bitcoin; Digital currency; Alternative currency; Medium of exchange; Asset class; Safe haven;
پیش نمایش مقاله
پیش نمایش مقاله  بیت کوین: متوسط ​​مبادلات یا دارایی های احتمالی؟

چکیده انگلیسی

Bitcoin is defined as digital money within a decentralized peer-to-peer payment network. It is a hybrid between fiat currency and commodity currency without intrinsic value and independent of any government or monetary authority. This paper analyses the question of whether Bitcoin is a medium of exchange or an asset and more specifically, what is its current usage and what usage will prevail in the future given its characteristics. We analyse the statistical properties of Bitcoin and find that it is uncorrelated with traditional asset classes such as stocks, bonds and commodities both in normal times and in periods of financial turmoil. The analysis of transaction data of Bitcoin accounts shows that Bitcoins are mainly used as a speculative investment and not as an alternative currency and medium of exchange.