Identification of the Variables Effecting the Value of the Cryptocurrency

Arikan, Necip İhsan

doi:10.23834/isrjournal.842649

Cited by 3 publications

(1 citation statement)

References 24 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In comparison to conventional currencies and commodities, cryptocurrency has a very high level of uncertainty. There is no official agreement about whether crypto assets are capital or commodities (Arikan, 2021). Exactly like gold, bitcoin is totally fungible (one bitcoin is comparable to another), divisible (you may pay someone a little part of a bitcoin if you want to), and readily verifiable (via the Blockchain) (Luno, 2017).…”

Section: Measurabilitymentioning

confidence: 99%

Towards an Interpretation of Cryptocurrency as a Commodity From Maqasid Al-Shari’ah Perspective

Akbar

2022

Int. J. Is. Ec. Fi. Res.

View full text Add to dashboard Cite

From days of simple barter to the age of digital entries, the evolution of money is proof of a human sense of resourcefulness. Besides the universal acceptance of money as wealth, conventionally it is regarded as a commodity and according to Islamic jurisprudence, though money is used as a medium of exchange and store of value, it cannot be sold at a price higher than its face value or rented out. There has recently been increasing work on the position of commodity money and fiat money in the context of Islamic finance theories and commodity markets. Whereas traditional fiat currency plays a vital role in the socio-economy, digital or cryptocurrency starts to persuade the world economy under the ledger technology. Unlike fiat money, the cryptocurrency spectrum today, under its extreme configuration, intends to offer remarkable opportunities. The conventional works that have provided several studies on the impacts of cryptocurrency in the financial services industry and commodity markets, proportionate to the analysis of the classification of wealth pertaining to digital currencies in order to review the relationship between crypto-token and crypto-commodity. There have been few responses from the Islamic perspective, but not particularly in the light of Maqāsid. Therefore, the paper explores the nature of wealth and the principles involved in the acquisition and protection, and classification of wealth according to Maqāsid al-Shari’ah. With particular reference to a treatise of Maqāsid, the paper investigates five simultaneous characteristics and objectives of wealth deliberated by Ibn Ashur (2001). The last part of the paper analyzes the relationship between the five characteristics of wealth and the cryptocurrency ecosystem, such as tokens, initial coin offerings (ICOs), and cryptocurrency derivatives, to review the research opportunities to propose a more comprehensively sound study in the Maqasid framework.

show abstract

Section: Measurabilitymentioning

confidence: 99%

Towards an Interpretation of Cryptocurrency as a Commodity From Maqasid Al-Shari’ah Perspective

Akbar

2022

Int. J. Is. Ec. Fi. Res.

View full text Add to dashboard Cite

show abstract

An Assessment on The Problematıc Cryptocurrency Trade in Turkey And The World

Han

Arikan²,

Konat

2021

Uluslararası Ticaret Ve Ekonomi Araştırmaları Dergisi

Self Cite

View full text Add to dashboard Cite

Günümüzde kripto paraların çoğu blokzincir altyapısına dayanmaktadır. Blokzincir üçlemesi olarak bilinen imkânsız üçgen, blokzincir tabanlı bir çalışmada hem ölçeklenebilirlik hem merkeziyetsizlik hem de güvenliğin aynı anda sağlanamayacağı yaklaşımını ifade eder. Sözgelimi bir kripto varlığın merkeziyetsizliği ön plana çıkıyorsa ve çok hızlıysa, güvenlik açıklarının fazla olduğu söylenebilir. Kripto para ticaretinde yaşanan sorunları teknik olarak imkânsız üçgen ile açıklamaya başlayabiliriz. Ancak kripto borsalarda yaşanan vurgunlar ve maddi kayıplar dikkate alındığında insan kaynaklı hataların, teknik hataların çok üzerinde bir orana sahip olduğu görülmektedir. Bankacılık sektöründeki ya da borsadaki mevduat ve hisse sahipleri, sistem kaynaklı bir zarara uğradığında, hükümet tarafından kısmen de olsa güvenceye alınıyorken, kripto para piyasasında ticarete konu olan zarar çoğu zaman yatırımcının net kaybı olarak karşımıza çıkmaktadır. Manipülasyon borsalarda kanunen suç iken, kripto borsalarda acemi yatırımcıları yönlendirmek için sıklıkla kullanılan bir faaliyet olarak görülmektedir. Kripto borsaları daha sıkı denetlemek, eğitim yoluyla kullanıcı hatalarını en aza indirmek ve kurumlar nezdinde uluslararası bir fikir birliğine varmak, sorunlu kripto para ticaretinin önüne geçmede öncelikli olarak önerilebilir çözümlerdir.

show abstract

Classification of Various Factors That Have Caused Major Fluctuations in Cryptocurrency Markets

Shankar Raja M.,

Priyadarshini D.,

Govindaraj

et al. 2022

SJCC

View full text Add to dashboard Cite

Cryptocurrency is a commonly used term in the current world, and the COVID-19 pandemic has indirectly increased the awareness and the investor base for cryptocurrencies. Various research has been conducted to understand the complex working structure of these investment options and to analyse the volatile nature of cryptocurrencies. There are multiple factors and triggers that impact the price movements in the crypto market. Classifying these factors would help streamline the process of analysing these factors for further studies. These factors cause both positive and negative impacts on the price fluctuations. Classifying the major factors under the period of impact will help understand each factor's role in the market. This classification would help in the diagnostic and prescriptive analysis of cryptocurrencies. In this research, well-cited and published research papers, journals, and articles have been studied to classify some of the major factors affecting cryptocurrencies carefully. A model has been created to easily comprehend the classification of factors based on time of impact. This model simplifies the understanding of the factors and would help conduct further analysis on these factors.

show abstract

Identification of the Variables Effecting the Value of the Cryptocurrency

Cited by 3 publications

References 24 publications

Towards an Interpretation of Cryptocurrency as a Commodity From Maqasid Al-Shari’ah Perspective

Towards an Interpretation of Cryptocurrency as a Commodity From Maqasid Al-Shari’ah Perspective

An Assessment on The Problematıc Cryptocurrency Trade in Turkey And The World

Classification of Various Factors That Have Caused Major Fluctuations in Cryptocurrency Markets

Contact Info

Product

Resources

About