Bitcoin Differences

P. Carl Mullan
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P. Carl Mullan: PDX Currency Corporation

Chapter 15 in The Digital Currency Challenge: Shaping Online Payment Systems through US Financial Regulations, 2014, pp 102-110 from Palgrave Macmillan

Abstract: Abstract Existing centralized digital currency systems derive value from assets backing the digital units. Bitcoins have no assets backing the units. They are valued from being traded in public online market. In previous digital currency systems units were non-negotiable. Bitcoin units transfer value with each transaction and hold more obvious cash-like features than previous digital currency products. Bitcoin transactions are pushed from a user account, opposite of bank checks and credit cards that are pulled out by someone other than the account owner.

Keywords: Money Laundering; Currency Code; Digital Unit; Digital Currency; Treasury Department (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-38255-9_16

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DOI: 10.1057/9781137382559_16

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