CRYPTOCURRENCIES. TECHNICAL AND FUNCTIONAL ASPECTS

Marius Gust ()
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Marius Gust: ”Constantin Brâncoveanu” University of Pitesti, Romania

Contemporary Economy Journal, 2018, vol. 3, issue 3, 198-212

Abstract: Nearly a decade after the appearance ofcryptocurrencies, they have grown, both in number and in market, being areality of our day, and in the last year the media has constantly written aboutthem. Yet they continue to be a mystery. Normal, on the one hand, because notall of us are computer scientists, many are just computer users, but few arethe ones who are good at cryptography. Unfortunately, so too few of thefounders and users of cryptocurrencies are good at the economy. Maybe that'swhy they exaggerate when they call their crypto "coins" creations.These creations are not and probably will not be coin for a long time.Cryptocurrency there is something that few are good at, but many want it,because it brings them some wealth. Cryptocurrency and their evolution in thepast year have enriched their founders and, being unregulated, we should countthe days until we are impoverished. Cryptocurrencies have emerged and developedas a result of a sense of frustration among many who believe that people in theleadership of states and authorities live on their backs, banks steal them,states discriminate against them, judges and lawyers are not right. It is theworld of the Internet, the world where people are free and have no bosses andno laws. Cryptocurrencies also mean many personal pride, but also the right toopinion and a social democracy. Or maybe anarchy. How could we justify morethan 1500 such assets in less than 10 years.

Keywords: bitcoin; litecoin; riiple; ethereum (search for similar items in EconPapers)
JEL-codes: G12 (search for similar items in EconPapers)
Date: 2018
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