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Usability of the Bitcoin in the Contemporary Digital Economy

Andrzej Sołoma and Karol Spychalski
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Andrzej Sołoma: Uniwersytet Warmińsko-Mazurski w Olsztynie
Karol Spychalski: Uniwersytet Warmińsko-Mazurski w Olsztynie

Collegium of Economic Analysis Annals, 2017, issue 45, 227-240

Abstract: The Bitcoin is a peer-to-peer electronic payment system that operates as an independent currency. In this paper, we have examined whether the Bitcoin should be considered a currency according to the criteria widely used by economists. We argue that the Bitcoin does not behave much like major international currencies because the excessive volatility compared to other currencies changes. Our results show that usability of the Bitcoin has increased rapidly. It is traded on many exchanges. Yet, the future of the Bitcoin is still very uncertain.

Keywords: Bitcoin; crypto-currency; virtual money; e-commerce (search for similar items in EconPapers)
Date: 2017
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