Bitcoin Financial Regulation: Securities, Derivatives, Prediction Markets, &amp; Gambling

Brito, Jerry; Shadab, Houman B.; Castillo, Andrea

doi:10.2139/ssrn.2423461

Cited by 63 publications

(44 citation statements)

References 9 publications

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“…This stream includes theoretical considerations as to whether Bitcoin performs the functions of money, some aspects of money supply and deflation [54,123,124,135] and its investment potential [22,139]. However, there is a noticeable lack of comprehensive empirical research in the field of Bitcoin economics.…”

Section: Literature Reviewmentioning

confidence: 99%

“…The most notable example of the dangers for investors was perhaps the collapse of the Japanese Mt. Gox, which was one of the first Bitcoin online trading platforms and was the leader in this field for several years [22,23]. Although, at its peak in July 2011, the company claimed to carry out over 80% of transactions in the market for this cyptocurrency [27], by February 2014 it had filed for bankruptcy with losses reaching as much as 460 million dollars [98].…”

Section: The Bitcoin Marketmentioning

confidence: 99%

See 1 more Smart Citation

Price Fluctuations and the Use of Bitcoin: An Empirical Inquiry

Polasik

Piotrowska

Wisniewski

et al. 2015

International Journal of Electronic Commerce

324

194

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Section: Literature Reviewmentioning

confidence: 99%

Section: The Bitcoin Marketmentioning

confidence: 99%

Price Fluctuations and the Use of Bitcoin: An Empirical Inquiry

Polasik

Piotrowska

Wisniewski

et al. 2015

International Journal of Electronic Commerce

324

194

View full text Add to dashboard Cite

“…Long-lasting market share of Bitcoin that was over 90% fell in 2017 to below 50%. The highlight will be the creation of crypto currency derivatives that will allow additional speculation considering the high volatility of crypto currency value (Brito, 2014).…”

Section: Fundamentals Types and Specifics Of The Crypto Currenciesmentioning

confidence: 99%

Functioning Mechanism of Bitcoin

Đorđević

Todorović

2018

FU Econ Org

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The connection between financial innovation and information technology industry has provided and kept the crypto currencies for some ten years on the market, a kind of offset of monetary evolution after the introduction of virtual, electronic and digital money. Although their essence is still wrapped up under the veil of secrets, the facts show that the value of Bitcoin as the first crypto currency has a rising trend, and that an increasing number of firms and individuals are deciding to use it. This will result in the emergence of over 1000 new crypto currencies. This paper explains the emergence and functioning of the Bitcoin, its characteristics and functions, the benefits and risks that it carries, as well as possible scenarios of further development of the international monetary system with crypto currencies.

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“…The projected future use of crypto-currencies like Bitcoin is discussed at length by Brito et al [2014], with regard to securities, options, swaptions, forwards, bonds that may be developed going The European Central Bank, in its second report 11 , presents both an overview of the actors, the different modes of operation and the different business models that originate from virtual currencies schemes. Measures of current usage for Bitcoin shows between 60,000 and 70,000 transactions daily, for a total transacted volume of between e15 and e30 million, numbers which are somewhat insignificant compared to activity with existing payment solutions 12 .…”

Section: Crypto-currency Real World Usagementioning

confidence: 99%

Trends in Crypto-Currencies and Blockchain Technologies: A Monetary Theory and Regulation Perspective

2015

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The internet era has generated a requirement for low cost, anonymous and rapidly verifiable transactions to be used for online barter, and fast settling money have emerged as a consequence. For the most part, e-money has fulfilled this role, but the last few years have seen two new types of money emerge. Centralised virtual currencies, usually for the purpose of transacting in social and gaming economies, and crypto-currencies, which aim to eliminate the need for financial intermediaries by offering direct peer-to-peer online payments.We describe the historical context which led to the development of these currencies and some modern and recent trends in their uptake, in terms of both usage in the real economy and as investment products. As these currencies are purely digital constructs, with no government or local authority backing, we then discuss them in the context of monetary theory, in order to determine how they may be have value under each. Finally, we provide an overview of the state of regulatory readiness in terms of dealing with transactions in these currencies in various regions of the world.

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Bitcoin Financial Regulation: Securities, Derivatives, Prediction Markets, & Gambling

Cited by 63 publications

References 9 publications

Price Fluctuations and the Use of Bitcoin: An Empirical Inquiry

Price Fluctuations and the Use of Bitcoin: An Empirical Inquiry

Functioning Mechanism of Bitcoin

Trends in Crypto-Currencies and Blockchain Technologies: A Monetary Theory and Regulation Perspective

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