The Market Prognosis for Bitcoin

Colin L. Read ()
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Colin L. Read: SUNY Plattsburgh

Chapter Chapter 19 in The Bitcoin Dilemma, 2022, pp 199-203 from Springer

Abstract: Abstract Since the breakout of bitcoin prices in 2016/2017, the currency has navigated three price booms, which brought the price to a peak of $68,990.90 on November 10, 2021. The number of competing Proof of Work coins is declining, though, as some coins die off and new coins are proposed that invariably employ some sort of a Proof of Stake or similar more environmentally-benign authentication method. With the migration of Ethereum 2.0 to Proof of Stake, bitcoin dominates the Proof of Work sector, with dwindling numbers of competitors, as new cryptocurrencies now avoid Proof of Work from the onset, or specify a transition timetable to Proof of Stake.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-09138-4_19

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DOI: 10.1007/978-3-031-09138-4_19

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