A New Form of Currency: Description and Economic Principle

Lamiha Gün
Additional contact information
Lamiha Gün: Department of Economics, Turgut Özal University, Turkey.

Post-Print from HAL

Abstract: Faced with various banking and financial crises, many works are wondering whether the money itself is the real problem or not! In 2009, a system of decentralized currency was born. This decentralized electronic money (which is known as Bitcoin), uses cryptography to perform these transactions. Free of state control (or central bank or financial authority), this new form of digital currency raises many questions. The purpose of this paper is to study the semiotics of Bitcoin, through the discussion of whether it really solves the crucial problem of trust model or not. And highlight the problems and difficulties raised by Bitcoin. Our analysis shows that the Bitcoin digital currency based on the principle of peer-to- peer certainly highlights a number of significant advantages such as minimizing the maximum transaction costs and provides freedom of transactions without but it also eludes surveillance and that, beyond the resolution of the problem of trust model, this digital currency is not immune to a bubble, real issue of all banking and financial crises.

Date: 2014-05-29
References: Add references at CitEc
Citations:

Published in Journal of Scientific Research and Reports, 2014, 3 (13), pp.1793--1797

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05467162

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().